News Summary
A mansion in Del Mar has achieved a new real estate milestone by selling for $50 million, surpassing the previous San Diego County record of $47 million. Initially listed at $75 million, the final sale price reflects a significant price adjustment after being on the market for 340 days. The property boasts 30,491 square feet with luxurious amenities and ocean views. The identity of the buyer remains undisclosed, but they are linked to a Newport Beach law firm. This sale illustrates both the high demand for luxury properties and the evolving dynamics of the local real estate market.
Del Mar has set a remarkable real estate milestone after a mansion located at 2920 Camino Del Mar sold for a staggering $50 million, marking a new record for residential property prices in San Diego County. The sale eclipses the previous record of $47 million for a La Jolla home, which was completed just a week prior to this transaction.
The high-profile property was initially placed on the market for $75 million in November 2024, but after several price adjustments, it eventually sold for nearly $10 million less than its last listed price of $59.5 million, which was set in June.
The identity of the buyer remains undisclosed, but the sale deed indicates that the new owners are associated with Ocean Front Vibrations LLC, a company connected to a law firm based in Newport Beach.
Property Details
This expansive estate spans 30,491 square feet and includes a main house measuring 4,508 square feet, as well as two guest houses of 353 square feet and 377 square feet each. With seven bedrooms and eight bathrooms, the mansion provides ample luxury living space. A major highlight of the property is its 75 feet of ocean frontage, along with extensive amenities such as a 15-by-40-foot pool, hot tub, and beautifully landscaped outdoor living spaces featuring New Zealand Christmas trees and other decorative plants.
The guest houses come equipped with televisions, artwork, and bathrooms, making them ideal for use as independent beach accommodations. The primary bedroom, located on the second floor, offers panoramic ocean views and includes an expansive bathroom fitted with a large tub and shower.
Sales Dynamics
The sale of the Del Mar mansion took 340 days to finalize, which is longer than the average of 277 days for homes priced over $6 million in the region. The high-end real estate market has shown varied dynamics; as wealth continues to concentrate, the K-shaped recovery in the economy has brought stark contrasts between affluent buyers and struggling middle and lower-income families.
Del Mar is currently ranked 47th on PropertyShark’s list of the 100 most expensive ZIP codes, boasting a median sale price of $2.7 million. The sale is expected to contribute approximately $86,000 to Del Mar’s annual revenue compared to previous years, reflecting the growing demand for luxury properties.
Historical Context
The mansion was previously owned by Sandra Naftzger, whose family has held the property since the 1930s. Naftzger decided to sell in order to spend more time with her family in Los Angeles. The development of the mansion took around 12 years to complete, requiring extensive approvals for construction and navigating local community concerns.
Architect William Hefner designed the property with a minimalist aesthetic primarily utilizing brick, setting it apart from the older wooden structures typically found in the area. Unique features, such as a “sand room” designated for beach storage and direct beach access, enhance its luxury appeal and exclusivity.
Overall, this monumental sale not only reflects the flourishing luxury housing market in Del Mar but also showcases the evolving landscape of wealth in California’s residential sectors.
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Additional Resources
- NBC San Diego
- Google Search: Del Mar mansion sale
- Mansion Global
- Encyclopedia Britannica: real estate market California
- San Diego Union-Tribune
- Google News: San Diego luxury homes
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The SAN DIEGO STAFF WRITER represents the experienced team at HERESanDiego.com, your go-to source for actionable local news and information in San Diego, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Comic-Con International, San Diego County Fair, and San Diego Pride Festival. Our coverage extends to key organizations like the San Diego Regional Chamber of Commerce and United Way of San Diego County, plus leading businesses in biotechnology, healthcare, and technology that power the local economy such as Qualcomm, Illumina, and Scripps Health. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
