The San Diego real estate scene has hit a new high-water mark with the sale of an oceanfront compound in Del Mar for $50 million, setting a record for the priciest residential property sale in the county. The deal, which closed on a property once listed for $75 million, showcases California's coastal properties' enduring allure and escalating value. A mystery buyer snapped up the estate built on what's described as Del Mar's "last sandlot," as per the listing on Ocean House Del Mar, a website devoted to the compound Ocean House.
Constructed by a limited liability company tied to Sandra Naftzger, a name synonymous with an extensive cattle ranching legacy, this compound is a testament to her family's longstanding presence in California. With a lineage of land stewardship spanning Arizona, California, and Oregon, the Naftzger family once owned the N3 Cattle Company ranch, larger than San Francisco, and sold it off for $68 million in 2022. Their newly sold Del Mar estate was first listed in November 2024, and it dropped to $59.5 million this past June, significantly below the initial asking price, according to a report by Mansion Global.
The main house on the property is approximately 4,500 square feet, featuring five bedrooms, and is complemented by two smaller guesthouses. True to the spirit of coastal living, the compound also sports a 'ping-pong pavilion' next to the pool, explains Rande Turner of Pacific Sotheby’s International Realty, who called the transaction “a remarkable sale for San Diego coastal real estate,” in a statement quoted by Mansion Global. Besides the ocean's edge amenities, the property has a private gate leading to the beach, promising exclusivity and privacy for the buyer who remains anonymous.
Known as "Ocean House Del Mar," the estate boasts a design that's as much about durability as it is about style and comfort. Anchored in luxury but laid-back enough to take sandy feet in stride, "It’s luxurious but super comfortable. No one would ever worry about putting their feet up," interior designer Jeffry Weisman reflects on the home's ambiance, per the Ocean House Del Mar. The property is designed for entertainment and family gatherings with a 75-foot-wide beachfront patio, expansive interior courtyard, and a saltwater pool that becomes a vivid design anchor at night. Lifestyle, it seems, was paramount in the compound's creation, blending open dining rooms and Fleetwood doors to maximize the tranquil ocean views.
