Inside the $ 23.5 million 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 $ 23.5 million modern mansion overlooking the Pacific Ocean in Southern California will officially go on the market on May 14 and, in doing so, will become the most expensive home ever for sale in the city of Encinitas, California, a coastal community approximately 26 miles north of San Diego.

The eight-figure asking price of the house is more than double what it was selling less than six years ago.

“Coupled with the strong demand for luxury housing we’ve seen in recent years in San Diego and such a rare offer, we believe it’s priced where it should be,” he said. Kelly Howard of Compass, one of co-listing agents on the property.

The house atop the bluff at 532 Neptune Ave. is called crescent house, so named for one of its luxury amenities: a crescent moon-shaped infinity pool surrounding a round concrete terrace.

A crescent-shaped infinity pool wraps around a circular terrace.

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

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

If the glass, concrete, and titanium structure reminds you of the oceanfront mansion of fictional billionaire Tony Stark in Marvel’s “Iron Man” movies, it could be because it is work of the architect Wallace Cunningham.

House razor

Gary Kasl-Douglas Elliman Realty

Cunningham also designed the ultra-modern House razor, located less than 20 miles south, in La Jolla. Some believe that cutting-edge design is one of the real-life inspirations for Stark’s fictional home in Malibu, which was created by an illustrator and brought to life with computer generated images.

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

Both homes designed by the award-winning architect feature dramatic curves, striking edges, and huge panes of glass that offer jaw-dropping views of the Pacific Ocean.

The facade of the Razor House fuses glass and concrete to offer sharp 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, appeared in Architectural Digest magazine in 2005 and in the first episode of the third season of HBO’s “Westworld”.

The mansion spans over 6,300 square feet, on two levels, with four bedrooms, four full bathrooms, and two half bathrooms according to the listing. Almost every room takes advantage of its sky and ocean perspective with floor-to-ceiling windows.

Primary bedroom

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A stunning staircase winds up 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 winds 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 area, where, at certain angles, the house appears to float on the ocean.

A sofa in the living area offers a front row seat for impressive ocean views.

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

The multi-level terraces offer different points from which to admire the view.

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

If the pair gets the asking price, the sale would deliver 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 found in the richest 10% of the market.

“The San Diego luxury market has seen a serious price increase since the last sale of this Crescent House,” said listing agent Howard.

Howard believes that the increased demand in the market, in addition to the pedigree design and what he says is an above average lot size for the street on top of the bluff, all work in favor of the sellers and will help win a prize for the property.

The owners also made a few updates, including assigning the original architect to add two state-of-the-art fire features and equip the mansion with smart home infrastructure, Howard said.

A modern fire feature adjacent to one of the home’s outdoor seating areas.

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

The villa’s main bathroom features a double vanity with mirrors that appear to float above the sinks.

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Historical sales data suggests that this is not as crazy an increase in value as it might seem.

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

It’s still unclear whether the home can get the full asking price, 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 discriminating buyer who connects and understands that they will be willing to pay for it,” Howard said.

The multi-level outdoor terraces offer stunning ocean views, multiple dining areas, and an outdoor seating area with a fire.

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