The formal living room. (Photo by Andrew Bramasco)
The rooftop terrace. (Photo by Andrew Bramasco)
The custom contemporary residence spans 11,628 square feet and offers five bedrooms and 11 bathrooms across three levels, plus a rooftop terrace. (Photo by Andrew Bramasco)
An open-air atrium with a pool and spa flows into the main living spaces of this newly built oceanfront estate in Corona del Mar, which sold for a neighborhood-record $48.5 million. (Photo by Adisen Little)
Bespoke architectural design is raising the ceiling on Orange County real estate.
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Redfin data confirms the $48.5 million closing of a new oceanfront, ultra-luxury home in Corona del Mar is the latest major milestone. The blockbuster deal surpasses a bayfront estate that sold for $26 million in March 2025, setting a new price pinnacle for this this affluent, coastal Newport Beach neighborhood.
At 11,628 square feet, the contemporary residence offers five bedrooms and 11 bathrooms across three levels, plus a rooftop terrace. Records show developer Tom Nicholson is the seller of the Corona del Mar estate.
Nicholson bought the property for $12.95 million in July 2021, and tore down the existing structure to make way for this project in partnership with Geoff Sumich Design, Lisa McDennon and the owner’s company, Nicholson Construction.
Listing data shows the home hit the market for $51.98 million in February 2026 and went under contract in May.
According to Steve Sergi of Valia Properties, who handled both ends of the deal, local, national and international buyers toured the property, with the majority viewing it as a secondary residence.
Ultimately, an out-of-state buyer purchased the home.
Sergi noted that scarcity played a major role in the property’s valuation.
“This property is one of one,” he explained. “The location, lot size, width, elevation, and unmatched views were all unique factors in driving the decision to craft a home of this scale. The composition of the home, together with its meticulously selected materials and exceptional level of craftsmanship, elevates it into rare company among coastal Orange County’s luxury properties.”
The house maximizes every inch of its 8,580-square-foot lot, offering unobstructed ocean and harbor entrance views. A privacy gate opens onto the entry terrace, anchored by two separate lounge areas.
One has a circular fire pit with space heater above, the other a rectangular fire pit.
From there, 10-foot motorized doors open into the main entry level, where the living and dining rooms merge into the eat-in kitchen.
The culinary space centers around a dual-elevation kitchen island for dining. It features a book-matched marble base with a waterfall edge, topped by a darker marble section that projects outward for a two-tone contrast.
A secondary utility island houses an oversized sink.
Behind the induction cooktop and griddle is a bronze mirror backsplash that automatically retracts, revealing a hidden butler’s pantry.
Glass doors slide entirely out of sight, opening the kitchen to an open-air atrium centered on a pool and spa.
The outdoor oasis is also accessible from the main living areas and a guest suite at the back of the property, which is staged as an office in the multiple listing service photos. Directly above the pool area is a balcony and a guest suite.
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An elevator and a steel floating staircase with a glass railing connects the home’s levels, leading up to the sprawling primary suite on the second floor.
There, a double-sided fireplace anchors an open seating area that spans 64 feet. Disappearing glass walls extend the space onto the private balcony, which cantilevers above the main terrace and overlooks Inspiration Point with views stretching to Catalina Island and the Palos Verdes Peninsula on clear days.
For privacy, a kinetic exterior steel screen can close off the bedroom from the street.
Rounding out the suite is a boutique-style walk-in closet with glass-topped jewelry drawers and dual bathrooms, one featuring a freestanding tub with ocean views and a full-slab bronze marble walk-in steam shower.
The lower level is designed for entertaining and features a standout automotive gallery.
In an Instagram post, Nicholson Cos. described the gallery, where a concealed motorized lift “transforms the arrival of a prized vehicle into a cinematic experience. At the touch of a button, the car descends from the upper-level garage, emerging as a centerpiece worthy of display.”
The hydraulic system uses dual steel floor plates to pack a four-car capacity into a tight coastal lot, allowing a supercar like a McLaren Senna to sit safely below grade in the subterranean level.
That space boasts towering ceilings and deep light wells that flood the basement with natural light. A custom wet bar has a massive acrylic viewing panel that looks directly into the deep end of the swimming pool above, creating a moving water backdrop.
Amenities also include a glass-enclosed, 664-bottle temperature-controlled wine cellar and a cigar lounge finished with cork wallpaper and end-cut, torch-finished walnut floors. A state-of-the-art home gym with a unique concentric wood-plank floor pattern, a movie theater dressed in rich burgundy and suede tones and a full spa complete with a private massage room, a cedar sauna and a custom steam shower clad in Breccia marble add to the basement layout.
Sergi pointed out that wealthy buyers have varied preferences based on their lifestyles.
“Similar to the luxury car market, a Rolls-Royce buyer is different from a Ferrari buyer, but they are both looking for a luxury car to meet a specific need and lifestyle,” he said.
Sergi added that the property is more like the Ferrari experience due to its location and intimate views compared with the Rolls-Royce feel of neighboring communities, where larger lots and seclusion drive the market.
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