It appears that the previous record sale of $25 million for a San Diego County property is about to be shattered.
According to the Union Tribune’s Roger Showley, Gary and Jerri-Ann Jacobs have closed escrow on three of the four parcels that make up the beach front estate on Ocean Front in Del Mar for $13.15 million. The fourth parcel is the most valuable and is scheduled to close at the end of the month. While the main home boasts only 5,204 square feet, it does enjoy 120 feet of ocean frontage.
Previously part of the Scripps estate, Arthur Nicholas, of San Diego based money management firm Nicholas Applegate, who bought the property from the Scripps family, put the property up for sale in July of 2005 for $50 million with the condition that all four parcels be purchased together.
Local real estate industry speculation put the total sale in the mid $40 million range, which would easily surpasses the previous record set in 2000 for another Del Mar ocean front property.