Inside the $23.5million home that could break California’s local record

The ocean view from the most expensive mansion ever sold in Encinitas, California.

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A modern $23.5 million mansion overlooking the Pacific Ocean in Southern California is set to officially hit the market on May 14 and, in the process, become the most expensive home to ever come up for sale in the city of Encinitas, California – a coastal community about 26 miles north of San Diego.

The home’s eight-figure asking price is more than double what it sold for less than six years ago.

“Coupled with the strong demand for luxury homes we’ve seen in San Diego in recent years and such scarce supply, we believe the price is where it should be,” said Kelly Howard of Compass, a die co-advertisers on the property.

The clifftop house at 532 Neptune Ave. is called Crescent House, named for one of its luxury amenities: a crescent moon-shaped infinity pool that surrounds a round concrete deck.

A crescent moon-shaped infinity pool surrounds a circular terrace.

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The house already broke the local price record when it traded hands in 2016 for $11.1 million after just 28 days on the market. This sale remains the highest ever in Encinitas history, according to Multiple Listing Service records provided by Howard, who also represented the listing for this record sale.

“We are confident that this house will break its own record,” he said.

If the glass, concrete, and titanium structure reminds you of fictional billionaire Tony Stark’s seaside mansion in Marvel’s “Iron Man” films, maybe that’s because it’s the work of architect Wallace Cunningham.

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 cutting-edge design is considered by some to be one of the real-life inspirations for Stark’s fictional Malibu home, which was created by an illustrator and animated by computer generated images.

“Nothing comes close to the Crescent House except maybe the Razor House,” Howard said.

Both homes designed by the award-winning architect feature dramatic curves, striking edges, and massive window panes that offer breathtaking views of the Pacific Ocean.

The facade of the Razor House blends glass and concrete to provide crisp lines and dramatic curves.

Gary Kasl – Douglas Elliman Realty

A view of the mansion perched atop a cliff overlooking the ocean.

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Crescent House, meanwhile, was featured in Architectural Digest magazine in 2005 and in the Season 3 premiere episode of HBO’s “Westworld”.

The mansion spans over 6,300 square feet, on two levels, with four bedrooms, four full bathrooms and two half baths according to the listing. Almost all rooms take advantage of their perspective of the sky and ocean with floor-to-ceiling windows.

master bedroom

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A magnificent staircase ascends to the second level, designed by the architect to resemble the skeleton of a giant dinosaur with stainless steel vertebrae and ribs.

An elegant steel and glass staircase twists upwards connecting the two levels of the house.

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Cunningham told Architectural Digest that the house was built to give “the feeling of being on a ship at sea.” This is evident in the living room, where from certain angles the house appears to float above the ocean.

A couch in the living room provides a front row seat with stunning ocean views.

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Beyond the glass walls are tiered terraces that bring you even closer to the sea.

The tiered terraces provide several places to admire the view.

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The current owners live in Florida full time and, after six years of keeping the house, are ready to sell.

If the couple get their asking price, the sale would fetch a price per square foot of more than $3,700, nearly four times the average of $928 for luxury homes sold in the county, according to the Elliman Quarterly Report. The report defines luxury homes as those in the top 10% of the market.

“The San Diego luxury market has seen a sharp price increase since this Crescent House was last sold,” listing agent Howard said.

Howard thinks the increased demand in the market, along with pedigree design and what he says is an above-average lot size for bluff-top street, all works in favor of sellers and will help get a premium for property.

The owners also made some upgrades, including commissioning the original architect to add two state-of-the-art fire elements and outfitting the mansion with smart home infrastructure, Howard said.

A modern fire pit adjacent to one of the outdoor seating areas of the house.

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Howard told CNBC that new coastal building regulations make it impossible to replicate a home like this on this site, further justifying the 112% price increase over 2016, he said. -he declares.

The mansion’s master bathroom features twin vanities with mirrors that appear to float above the sinks.

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Historical sales data suggests this isn’t as crazy a jump in value as it looks.

In October 2016, when Crescent House was last sold, the median sale price in Encinitas was just over $1.2 million, according to data compiled by the Association of Realtors of Greater San Diego. Last month, that number topped $2.4 million, marking a similar doubling in less than six years.

Whether the home can command its asking price remains to be seen, but demand is more than nine times the average price of an Encinitas home, and finding a buyer willing to pay a record price isn’t always easy.

“The savvy shopper who connects to it and understands they’ll be willing to pay for it,” Howard said.

Multi-level outdoor decks offer stunning ocean views, multiple dining areas, and an outdoor seating area with a fireplace.

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