Inside the $ 23.5 million house that could break local California records
The ocean view from the most expensive mansion ever sold in Encinitas, CA.
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A $ 23.5 million modern mansion overlooking the Pacific Ocean in Southern California will officially hit the market on May 14, becoming the most expensive home ever for sale in the city of Encinitas, California ̵[ads1]1; a coastal community around 40 km. north of San Diego.
The home’s eight-digit price estimate is more than double what it sold less than six years ago.
“Along with the high demand for luxury housing that we have seen in recent years in San Diego and such a rare offer, we believe it is priced where it should be,” said Kelly Howard of Compass, one of the co-listings. agents on the property.
The bluff home at 532 Neptune Ave. called Crescent House, named after one of its luxury facilities: a crescent-shaped infinity pool that surrounds a round concrete terrace.
A crescent-shaped infinity pool wraps around a circular terrace.
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The home already broke the local price record when it traded hands in 2016 for $ 11.1 million after just 28 days on the market. That sales are still the highest ever achieved in Encinita’s history, according to Multiple Listing Service records provided by Howard, who also represented the record for the record sales.
“We are confident that this house will break its own record,” he said.
If the glass, concrete and titanium structure reminds you of the fictional billionaire Tony Stark’s mansion by the sea in Marvel’s “Iron Man” movies, it may be because it’s the architect Wallace Cunningham’s work.
Razor House
Gary Kasl – Douglas Elliman Realty
Cunningham also designed the ultra-modern Razor House, located less than 20 miles south, in La Jolla. The groundbreaking design is believed by some to be one of the real inspirations for Stark’s fictional Malibu home, which was created by an illustrator and brought to life with computer-generated images.
“Nothing comes close to Crescent House, except maybe Razor House,” Howard said.
Both homes, designed by the award-winning architect, have dramatic curves, striking edges and massive glass panes that provide stunning views of the Pacific Ocean.
The facade of the Razor House mixes glass and concrete to deliver sharp lines and dramatic curves.
Gary Kasl – Douglas Elliman Realty
A view of the mansion perched on top of a bluff overlooking the ocean.
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Crescent House has meanwhile been featured in the magazine Architectural Digest in 2005 and in the season 3 premiere episode of HBO’s “Westworld”.
The mansion spans more than 6,300 square feet, over two levels, with four bedrooms, four full baths and two half baths according to the listing. Just about every room utilizes its perspective of sky and sea with floor-to-ceiling windows.
Primary bedroom
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A magnificent staircase winds up to the second level, designed by the architect to look like the skeleton of a giant dinosaur with vertebrae and ribs made of stainless steel.
An elegant staircase in steel and glass winds upwards and connects the two levels of the home.
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Cunningham told Architectural Digest that the house was built to give “the feeling of being on a ship at sea.” It is evident in the living room, where the home at certain angles appears to float over the ocean.
A sofa in the living room provides a front row seat for impressive ocean views.
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Outside the walls of glass there are terraces on several levels that bring you even closer to the sea.
Terraces on several levels offer several places to enjoy the view.
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The current owners live in Florida full time, and after six years of keeping the home, they are ready to sell.
If the couple scores their price suggestion, the sale will yield a price-per-square-foot of more than $ 3,700, almost four times the average of $ 928 for luxury homes sold in the county, according to the quarterly Elliman report. The report defines luxury homes as those in the top 10% of the market.
“San Diego’s luxury market has seen a serious price increase since this Crescent House was last sold,” said listing agent Howard.
Howard believes increased demand in the market, plus pedigree design and what he says is an above average plot size for the bluff street, everything works in the sellers’ favor and will help achieve a premium for the property.
The owners have also made some upgrades, including commissioning the original architect to add two state-of-the-art fire functions and equip the mansion with smart home infrastructure, Howard said.
A modern fire function in connection with one of the home’s outdoor seating.
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Howard told CNBC that new coastal building regulations make replication of a house like this on this site impossible, which further justifies the 112% price increase over 2016, he said.
The mansion’s primary bathroom has double sinks with mirrors that appear to float over the sinks.
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Historical sales data suggest that it is not as crazy a jump in value as it may seem.
Back in October 2016, the last time Crescent House sold, the median sales price of Encinitas was just over $ 1.2 million, according to data collected by the Greater San Diego Association of Realtors. Last month, that number peaked at $ 2.4 million, a corresponding doubling in less than six years.
Whether the home can claim its full price estimate remains to be seen, but the question is more than nine times Encinita’s average home price, and it is not always easy to find a buyer who is willing to pay a record price.
“The discriminating buyer who associates with it and understands it will be willing to pay for it,” Howard said.
The layered outdoor terraces offer fantastic sea views, several dining areas and an outdoor seating area with fire function.
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