A sprawling estate in Laguna Beach, California, has been listed for $112 million, a price that could establish a new residential sales record for the city and all of Orange County. The property is situated on more than an acre of oceanfront land.
The roughly 14,400-square-foot compound overlooks the Pacific Ocean, with sections of the home built over the water. This cantilevered design means that recreating such a structure would be prohibited under current California coastal regulations. "One of the most remarkable qualities is how connected you feel to the ocean because the home cantilevers over the Pacific," said Jill Lockhart, co-listing agent with Livel Real Estate. "It’s like you’re suspended on top of the water."
If the property sells at its asking price, it would surpass a previous sale of an oceanfront estate in nearby Emerald Bay, which reportedly sold for $110 million, setting a new record for Orange County.
Property History and Design
The estate, featuring eight bedrooms and 12 full and three half-bathrooms across the main house and guest quarters, was originally commissioned in the early 1970s by financier Boyd Jefferies, founder of the firm that became Jefferies Financial Group. The construction required extensive structural concrete to stabilize the bluff.
Architect Fred Briggs designed the home, aiming to integrate it with the landscape. Many rooms feature walls of glass offering panoramic views. "The concrete gives it strength while the wood and the stone bring comfort and livability," said co-listing agent Meital Taub. "It’s modern without feeling cold."
Notable Owners and Renovations
The property was later owned by Bruce Bastian, co-founder of WordPerfect, and is currently owned by David Wilson, CEO of Wilson Automotive Group. Wilson purchased the home in 2001 for what was then the most expensive residential sale in Orange County. Over two decades, he invested millions in renovations while preserving the original design.
Additions include two more bedrooms and bathrooms, a private movie theater, expanded entertaining spaces, and a detached two-bedroom guesthouse. Significant upgrades were also made for erosion control and structural integrity to meet modern building standards.
Unique Features and Amenities
A key appeal of the estate is its location, which predates modern California Coastal Commission setback requirements, allowing portions of the residence to extend over areas where new construction is no longer permitted. The primary suite is surrounded by water on three sides and includes a rotating circular bed under a retractable dome for stargazing.
The home also boasts extensive amenities, including over 2,000 square feet of oceanfront terraces, a swimming pool and spa, a tennis court, and a 1,000-bottle wine cellar. A wellness center features a fitness studio, sauna, steam room, and a waterfall spa. The compound includes dual gated entrances, separate guest accommodations, and direct beach access. Agents note that the property's privacy is so significant that many passersby are unaware of its presence.