News Summary
A stunning mansion in Coronado Cays has been sold for $24.1 million at a Hong Kong auction after nearly two years on the market. Initially listed for $43 million in November 2023, the price was reduced due to market conditions. The sale was facilitated by Concierge Auctions and drew global participants, highlighting the ongoing demand for high-end properties. The mansion features seven bedrooms and spectacular views of San Diego Bay, making it an appealing investment for international buyers.
Coronado Cays – A luxurious mansion in Coronado Cays was sold for $24.1 million at a Hong Kong auction last week after struggling to find a buyer for nearly two years. The sale marks a significant transaction in the luxury real estate market, showcasing the appeal of high-end properties to international buyers.
The property, located at 3 The Point, initially went on sale in November 2023 for $43 million but saw its asking price reduced to $37.5 million a year later in response to market conditions. The sale was facilitated by Concierge Auctions, a New York-based luxury real estate firm, and took a total of 52 days to complete. The auction itself was held at The Upper House, a luxury hotel in Hong Kong, and drew participation from around the globe.
There were nine bidders for the mansion, with bidding starting at $19 million. The auction’s format, which allowed for global participation, required bidders to provide a $100,000 deposit and proof of funds, making it accessible to buyers regardless of their physical location. The sale is currently pending as the home is now in the escrow process, which is expected to take about a month before it is finalized.
The identity of the buyer remains confidential, but public deeds will be available once the sale process is complete. The high-profile auction is an annual event known as the Hong Kong Global Sale, which consistently attracts international buyers seeking luxury properties.
Property Details
The mansion spans 11,715 square feet and boasts stunning views of San Diego Bay, thanks to its floor-to-ceiling windows throughout the home. It features seven bedrooms and 9 1/2 bathrooms, a theater, and an impressive 3,600-square-foot rooftop deck complete with a pool spa. Additionally, the estate includes a small golf course and 320 feet of private bayfront, providing ample space for yachts or other watercraft.
Ownership and Auction Firm
The property was owned by a trust operated by the Call family, whose patriarch, Jay Call, was the founder of Flying J Fuel Co., now known as Pilot Flying J. Concierge Auctions, which facilitated the sale, has been auctioning high-end estates around the world since 2008 and is majority-owned by Sotheby’s and Anywhere Real Estate.
The auction event garnered attention not only due to the luxurious features of the mansion at 3 The Point but also for its prime location, which emphasizes a desire for privacy and access to natural beauty. Other properties auctioned during the same event included a 22,000-square-foot estate on New York’s Gold Coast and a 10.1-acre ranch near Aspen, Colorado, illustrating the diversity and high caliber of listings available in the luxury market.
As the luxury real estate market continues to adapt to changing dynamics, the successful sale of the Coronado Cays mansion underscores a robust interest in exclusive properties, even amidst challenges in finding buyers. With the auction attracting bidders from around the world, it serves as a reminder of the ongoing demand for high-end homes that offer unique features and desirable locations.
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Additional Resources
- San Diego Union-Tribune: Coronado Cays Mansion Sold
- Sacramento Bee: High-End Real Estate Auction
- San Diego Union-Tribune: Coronado Cays Mansion Auction Announcement
- La Jolla Mom: Best Coronado Island Hotels
- Hotel Online: The Bower Coronado Opens
- Wikipedia: Luxury Real Estate
- Google Search: Coronado Cays Mansion Auction
- Encyclopedia Britannica: Real Estate
- Google News: Coronado Cays
Author: STAFF HERE CORONADO
The Coronado Staff Writer represents the experienced team at HERECoronado.com, your go-to source for actionable local news and information in Coronado, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Coronado Island Film Festival, productions at Lamb’s Players Theatre, community workshops at John D. Spreckels Center, and iconic celebrations at Hotel del Coronado. Our coverage extends to key organizations like the Coronado Chamber of Commerce and Visit Coronado, plus leading businesses in hospitality, dining, and tourism that drive the local economy. As part of the broader HERE network, including HERESanDiego.com, HEREHuntingtonBeach.com, HERELongBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
