April 10, 2017
A house dubbed Casa Dall’ Oceano listed at just under $23.5 million has closed sale after it was snatched up at an auction.
The sale price: $10 million.
But the 10,279-square-foot, oceanfront house at The Strand at Headlands in Dana Point is essentially “a construction site,” said the listing agent, Craig Lotzof of Pacific Sotheby’s International Realty in La Jolla.
“This really had no flooring, no cabinetry, no lighting, no light sockets, this was truly a shell. The good thing about it is the buyer is going to add their own stamp to it and probably spend several million dollars getting it there,” he said.
In addition to the $10 million, another $1.2 million was added on as an auction fee, Lotzoff said.
The buyer, it turns out, was real estate agent John McMonigle, who prevailed over a handful of other bidders at the November auction.
“After that, I partnered with an investor who is also a developer,” McMonigle said in a brief interview. “The home is being completed in time for the 2017 summer market.”
The Mediterranean-style house, with three floors and five bedrooms, was marketed as having an indoor driving range and an infinity pool overlooking the ocean. We’ll check back to see how it all turns out – and what the pricetag is.
There’s also a good chance the house and the auction could appear on “Million Dollar Listing Orange County,” a Bravo TV reality show expected to air in 2017.
McMonigle is one of the cast members.