Shopoff Pre-Sells 70% of Newport Beach Condo Project

Shopoff Realty Investments said Tuesday it had pre-sold more than 70% of its luxury condominium project, Parkhouse Residences at Uptown Newport in Newport Beach. Polaris Pacific brokered the 21 individual condo sales, with prices ranging from $2.1 million to $4.75 million, and totaling $65 million.

Located in the 25-acre Uptown Newport master-planned community, the 30-unit luxury development includes half-floor condominium residences and two-story penthouses across five buildings, all with individual private garages. Move-ins begin in summer 2024.

“Parkhouse represents one of the only opportunities this year to purchase and move into a newly constructed luxury condominium in Newport Beach,” said Shopoff president and CEO William Shopoff. “A hidden gem among the bustle of Newport’s airport area, this boutique, 30-unit community offers residents a private enclave with all Newport Beach has to offer.”

The remaining nine units are priced from approximately $2 million to $4 million. Future Parkhouse residents will have convenient access to the beaches and Newport Back Bay, along with dining and shopping options and John Wayne Airport.

Leaders From Rialto Capital Management, AEW, CIM, Rexford Industrial, EQR and Cushman & Wakefield come together on the Capital Markets panel at Connect Los Angeles 2024 on May 1 at the InterContinental in DTLA. Register now to hear from these industry experts and more.