Garrett Rau And Robert Giem Of Plus Real Estate Represent Buyer In Newport Coast Sale For $42M

A partially rebuilt estate at 1 Pelican Crest Drive in Newport Coast, listed as a Single Family asset, has been sold off-market for $42,000,000. The property sits on 0.73 acres, featuring a total square footage of 13,437. The price per square foot for this transaction was $3,126.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $42,000,000
• Address: 1 Pelican Crest Drive
• Market: Newport Coast
• Asset Size: 0.73 acres
• Square Footage: 13,437
• Price per Square Foot: $3,126
• Buyer's Representative: Garrett Rau & Robert Giem - Plus Real Estate
• Seller's Representatives: Michael Balliet, Paul Daftarian & Ruby Wang - Daftarian Group: Luxe Real Estate

The sale marks Orange County’s most expensive deal of 2025. The property is being redeveloped into a 17,000 square foot mansion, reflecting a significant investment in enhancing the estate's value and appeal.