Updated Dec 4, 2024
Lloyd Smith Of LDI Mechanical Purchases Newport Beach Estate From Lori And Michael Gray For $30M
309 Via Lido Soud
$30,000,000
$3,382/SF
Building Size
8,868 SF
Asset Type
Single Family
Closing
Jul 1, 2024
About this deal
AI
A single-family estate located at 309 Via Lido Soud in Newport Beach has been sold for $30 million. The property encompasses 8,868 square feet and achieves a price per square foot of $3,383. The estate features 105 feet of Newport Harbor frontage, an infinity pool, and a six-car garage. It was originally listed at $47.5 million in May 2022.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $30,000,000
- Square Footage: 8,868
- Address: 309 Via Lido Soud
- Market: Newport Beach
- Buyer: Lloyd Smith - LDI Mechanical
- Seller: Lori Gray & Michael Gray
- Brokers: Sean Stanfield & Ryan Tarr - Pacific Sotheby’s International Realty
This transaction marks a significant deal for the Orange County area, with Michael Gray, the former president of St. John Knits, selling his estate to Lloyd Smith. The sale reflects a noteworthy activity in the luxury real estate market.
Players
Newport Beach Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $3.4K per square foot on a published $30M for 8,868 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93