Southern California estate sells for $33.9 million, a 38% discount, from its original ask
The so-called Tree-of-Life villa is located in the affluent, country club-like enclave Dubai Hills Estates
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A nearly 13,000-square-foot oceanfront estate in southern California recently sold for just under $33.9 million, about 38% lower than its original asking price.
A nearly 13,000-square-foot oceanfront estate in southern California recently sold for just under $33.9 million, about 38% lower than its original asking price. | Mansion Global
The San Clemente, California, home, which has seven en-suite bedrooms and three powder rooms, was first listed in 2016 for $55 million, according to listing records. It was relisted for $44 million in 2017 and again earlier this summer for $38 million, its most recent asking price.
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The Mediterranean-style home sits on about 2.5 acres in the exclusive Cotton Point Estates community. It offers 450 feet of ocean frontage with views from almost every room, plus a 55-foot pool, a sport court, a nine-car garage and a guest house, according to the listing with Seth Nelson and Ariana Gaffoglio of Douglas Elliman.
"It’s one of only five [estates] that exist in all of southern California with that kind of landmass on the Pacific Ocean," Mr. Nelson told Mansion Global in May. "It’s one of the most exclusive properties available on the water."
The home is also a surfer’s paradise, with world-class waves right off the property’s beach. Galas for the professional surfer Kelly Slater’s foundation have been hosted on the grounds, according to Mr. Nelson.
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San Clemente, in general, "has some of the most notable surf breaks in all of Orange County, like San Onofre, the Trestles and T-Street," he said. "Then there’s the north and south side [of the San Clemente Pier] and those are the hottest spots for surfing."
In addition, the home is next to Casa Pacifica, where President Richard Nixon lived from 1969 to 1980. Also known as the "West Coast White House," the former Nixon home is on the market for $65 million.
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The sellers in the recent deal were Stefanie and Martin Colombatto, who is the chairman of the board of Ra Medical Systems, which develops lasers for medical use, and a partner at Seven Peaks Ventures, an Oregon-based venture capital firm. They purchased the property in 2000 roughly $3.2 million, according to records with PropertyShark. A representative for Mr. Colombatto did not immediately respond to a request for comment.
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Christopher Redlich, chairman at Healing Healthcare, was the buyer, according to a deed on file with PropertyShark. The deal went through in early August, but the records were only recently made publicly available. Mr. Redlich did not immediately respond to a request for comment.
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