A Newport Beach, Calif., property that was owned by a prominent California family for decades has sold for $55 million, setting a new record for Orange County.
The purchase includes roughly 3.5 acres of land overlooking Newport Harbor with two homes on it, according to Rob Giem of Compass, who represented the sellers. One, known as “the Big Blue House,” is a circa 1936 structure painted bright Bermuda blue with a white roof and is considered a local landmark; the other is a white, six-bedroom house built in the 1980s.