$50 Million Beach Mansion Sale Sets San Diego Record
Introduction to the Sale
A newly built beachfront compound in Del Mar has set a record as the most expensive residential sale in San Diego County with a $50 million close.
The buyer is undisclosed, while the seller is a limited liability company linked to Sandra Naftzger, whose family has been prominent in cattle ranching across Arizona, California and Oregon for over a century, the Wall Street Journal reported. The Nafzgers have held the Del Mar beach property for decades.
Details of the Property
Initially listed at $75 million in November 2024, the price was reduced to $59.5 million by this June. Even at the discounted rate, the property at 2920 Camino Del Mar remained the priciest single-family home on the market in Del Mar, a coastal enclave known for attracting high net worth residents, including the Bill Gates family.
Listing agent Rande Turner of Pacific Sotheby’s International Realty described the transaction as “a remarkable sale for San Diego coastal real estate.”
The compound features a 4,500-square-foot main residence with five bedrooms and an open-air ping-pong pavilion by the pool. It also has two guesthouses and a private beach accessible via a gated entry. The development process spanned over a decade, involving extensive permitting and the construction of a new sea wall, according to the Journal.
Background of the Seller
Sandra Naftzger and her sister sold the N3 Cattle Company ranch near Oakland in 2022 for $68 million. That property covered 50,500 acres — larger than the city of San Francisco.
Impact on the San Diego Luxury Home Market
The previous record residential price for San Diego County was a $47 million mansion sale in La Jolla earlier this year. In the same neighborhood, billionaire Darwin Deason is currently asking $108 million for the Sandcastle, an ornate estate inspired by the French royal palace at Versailles.
The San Diego luxury home market, like the market to the north in Orange County, has experienced some jaw-dropping prices in recent years as money moves south from Malibu.
Related News
Del Mar beach house asks $75M in market’s priciest listing
La Jolla home that inspired Tony Stark’s “Iron Man” mansion sells for discount
$50M listing joins top-of-the-market club in OC’s Newport Coast
$50M listing joins top-of-the-market club in OC’s Newport Coast
Conclusion
The sale of the $50 million beach mansion in Del Mar sets a new record for the most expensive residential sale in San Diego County. This transaction highlights the growing demand for luxury properties in the area, with the San Diego luxury home market experiencing significant growth in recent years.
FAQs
Q: What is the location of the $50 million beach mansion?
A: The beach mansion is located in Del Mar, San Diego County.
Q: Who is the seller of the property?
A: The seller is a limited liability company linked to Sandra Naftzger.
Q: What is the size of the main residence?
A: The main residence is 4,500-square-foot and features five bedrooms.
Q: What is the previous record residential price for San Diego County?
A: The previous record residential price for San Diego County was a $47 million mansion sale in La Jolla earlier this year.
