The Sand Castle, a bluff-top mansion overlooking the Pacific Ocean in La Jolla, California, has been listed for $108 million, more than double the current record for a home sale in San Diego County.
The sprawling estate, owned by tech billionaire Darwin Deason, was created by combining two neighboring properties that Deason purchased in 2009. Inspired by the luxurious homes of the French Riviera and Palm Beach, he undertook a major remodel that was completed in 2015. The house earned its nickname “Sandcastle” because of its beige facade and fortress-like design.
“It’s just time to move on,” said Deason, whose fortune came from the sale of an information technology services company Xerox Holdings Corp. for $6.4 billion in 2010, it said in an email.
The house sits on a levee that was built before California regulations banned erosion control fortifications, making it impossible to build anything similar today, said Brett Dickinson, an agent with compass Inc., who shares the entry with his partner Ross Clark.
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La Jolla has become a magnet for ultra-wealthy retirees, life sciences moguls and technology investors drawn by its mild weather, low crime rates, quality schools and cultural offerings, Dickinson said. The average home price in the area where the University of California, San Diego campus is located has reached $2.3 million — a 22% increase from last year, according to Redfin.
Still, La Jolla remains a relative bargain compared to other Southern California coastal towns like Malibu and Montecito.
“La Jolla is the jewel of San Diego – the most beautiful beaches, the most expensive houses,” Dickinson said.
The Sand Castle features 10 bedrooms, 14 bathrooms and three half baths with custom touches such as French imported fireplaces, crystal chandeliers and an indoor mahogany bar.
The property also includes a guest house with three en-suite bedrooms. Outside, the pool is lined with blue Thassos marble tiles and is accompanied by cabanas for men and women. A man-made beach uses sand imported from the same source that supplies the sand traps at Augusta National Golf Club.
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The current sales record in San Diego County is $44.1 millionsettled last year in a waterfront home in the nearby beach town of Del Mar.
Deason, whose primary residence is Dallas, also owns vacation homes in Texas and Mexico climaxa yacht on which he spends time in the Mediterranean and the Caribbean.
“My favorite part is the main balcony where I can relax and look out over the ocean and also much of the rest of the property,” he said of the sandcastle. “I’m proud of the entire property, but another part I’m particularly proud of is the nautical-themed bar, which is similar to the bar on my yacht.”