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Construction and real estate
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The housing market is recovering steadily, and with its recovery comes an increase of high-end homes — estates priced from $50 million and edging upward to $100 million and more. In Connecticut, a house hit the market at $190 million, and in New York, a few penthouses are listed for more than $100 million.

The high-priced market is not solely an East Coast trend, however. Quite a few hefty price tags can be found on the West Coast, including a new addition in Southern California: an estate listed at $65 million in Laguna Beach.

The estate at 2585 Riviera Dr, Laguna Beach, CA 92651 is, according to listing agent Rod Daley of Coldwell Banker Previews International, the largest oceanfront home in Orange County, as well as the most expensive in the area.

Although the $65 million Laguna Beach home is currently the most expensive home on the market, Daley thinks it’s just the beginning of the mega-house market recovering.

“We have recently had two substantial sales in the local area which will close in the next two weeks,” he said. “During my 40 years dealing with the mega houses of Irvine Cove and neighboring Emerald Bay, I have never seen as much interest from both international buyers and North American buyers as we are witnessing today.”

What makes up a $65 million home in Orange County? Besides the oceanfront location, the home sits on an entire acre, which was once part of the summer home of the original owners of the Irvine Family Ranch. Measuring 24,000 square feet, the house was developed over a period of eight years by the current owner, Daley said. No detail was left untouched. Everything from the 100-year-old olive trees to the lighting is high-end.

The property’s entrance is marked by a colored-glass fountain/waterfall designed by sculptor Taki. As water moves over the glass, it hits hidden bells, which chime. Past the enormous fountain, the guesthouse is visible — a custom, glass-walled, 1-bedroom space.

Inside, the owner’s extensive lighting collection is featured throughout, with pieces collected from Europe. Other features of the home include imported Roman travertine, a high-end kitchen and ocean-front loggia with outdoor fireplaces. The entire home has 5 bedrooms and 8 baths.
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