A hilltop Newport Coast mansion — so new that the designer was still adding the finishing touches as listing photos were being taken — awaits its first tenant for $250,000 a month.
Perched atop a nearly two-thirds-acre lot in guard-gated Crystal Cove, 7 Clear Water is a nearly 13,000-square-foot Mediterranean-style home boasting a circular wine cellar, state-of-the-art theater and spa with a sauna, steam room and cold plunge.
According to the MLS, it’s one of the most expensive lease listings in Orange County.
A search on Homes.com reveals 11 coastal mansions for rent in Newport Beach, Laguna Beach and Dana Point for $100,000 a month or more. Only one, 7 Clear Water, has never been lived in.
“You don’t typically see these brand-new mansions, no matter what market,” said listing agent Josh Altman of Douglas Elliman Real Estate, whose firm is promoting the mansion rental worldwide. “Whether it’s L.A. or Newport, this is as topnotch as you will see: the best of the best.”
Backed by coastal views, this three-level home has seven bedrooms and 11 bathrooms. The dining room has a fully stocked wine wall. In the living room, a 30-foot retractable glass pocket slider extends indoors out to the backyard oasis with double pools, a barbecue center, an oversized fireplace and an 80-inch screen television. At the basement level, there is a fully furnished entertainment area with a bar, lounge, and billiards room.
High-end rentals are a small part of OC’s luxury real estate market.
According to Steven Thomas, chief economist at Reports on Housing, the data shows only one closed lease listing in 2023 at or above $100,000. That property sought $350,000 a month but leased for $150,000 a month. No such rental contracts closed between 2020 and 2022. And in 2019, only one went for $195,000 a month.
Of course, not all mansion rentals are listed on the open market or registered in public records, so their numbers are difficult to track.
Many lease deals…
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