Seaside mansion in Laguna Beach sells for whopping $32.7 million after massive price drop

LAGUNA BEACH, California (AP) — A Southern California seaside mansion recently sold for $32.7 million five years after it was put on the market for $65 million.

The Orange County Register reported the 17,000 square-foot house is just one of five homes in a gated community directly above the sand in Laguna Beach, of Los Angeles. A smaller guesthouse is on the one-acre lot and swimming pool with cabana faces the ocean.

Ronald and Yolanda Loder overcame a lawsuit and neighborhood opposition to build the house in 2010 on the $10.5 million lot.

Abalone Point LLC is listed as the buyer with a post office box as an address. Real estate agent Evan Corkett said the new owner was from out of state. Corkett declined to identify the buyer any further.

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