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Residential
Los Angeles

Emerald Bay deal may take record for priciest PSF in Orange County

Laguna Beach deal earlier this month costs $15,700 PSF

Emerald Bay Waterfront Home Sells for $43 Million
156 Emerald Bay (Google Maps)

Located on a sandy waterfront in Laguna Beach, 156 Emerald Bay was sold earlier this month in an off-market deal for $43 million, according to property records, and a note on the Realtor.com listing site.

The relatively small 3,900-square-foot home brought in a staggering price per square foot — about $15,700. Paul Daftarian, of Corona Del Mar-based The Daftarian Group said the deal probably marks a per-square-foot in Orange County (Daftarian was not associated with the sale.)

The seller was Macoda Bay LLC, which is managed by Scott Mather, who may be the same executive who retired from investment group Pimco late last year. 

The buyer was Mitch Buchannon LLC, which shares the same name as a lead character on 1990s TV show Baywatch. The LLC is managed by Linda Deitch, an estate and tax attorney.

The listing agent, Rob Giem of Compass, signed a non-disclosure agreement, and declined to discuss the trade.

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Property records and listing sites suggest the last time this home traded hands was in 2018, when it sold to Macada Bay LLC for $23 million.

Emerald Bay is considered one of the most exclusive addresses in Coastal Orange County, which is enjoying some of the biggest sales in its history. In 2022, the mansion nicknamed Chateau Dubrow, sold for $55 million. In 2021, an Irvine Cove mansion sold for $70 million dollars to hedge fund manager Joseph Edelman. 

Past residents of Emerald Cove were investment guru Warren Buffett, Peter Ueberoth, chairman of the Olympics organizing committee in 1984, tennis player Lindsay Davenport and billionaire Igor Olenicoff, according to media reports.

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