NEWPORT BEACH, Calif. – April 16, 2024 – Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value-add real estate investments, announced today it has pre-sold more than 70% of its luxury condominium project, Parkhouse Residences at Uptown Newport, in Newport Beach, California. 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 enclave of the 25-acre master plan, Uptown Newport, this 30-unit luxury community includes half-floor condominium residences and two-story penthouses across five buildings, all with individual private garages. Move-ins start summer 2024.
“Parkhouse represents one of the only opportunities this year to purchase and move into a newly constructed luxury condominium in Newport Beach,” explained 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, right at your fingertips.”
Now 70% pre-sold, the remaining nine units are priced from approximately $2 million to $4 million, and feature 2,052 to 2,849 square feet of living space, with four available floorplans. The residences also have access to premium amenities such as a pool, hot tub and fitness center.
Located in the airport area of Newport Beach near the 73 and 405 freeways, future Parkhouse residents will enjoy easy access to the beaches and Newport Back Bay, as well as world class dining, high-end shopping and John Wayne Airport.
For more information on the remaining units at Parkhouse Residences, please contact: info@parkhouseresidences.com.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 32-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties, the entitlement of land assets, and development projects. The 32-year history includes operating as Asset Recovery Fund, Eastbridge Partners, and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit https://www.shopoff.com/ or call (844) 4-SHOPOFF.
Disclosures
This is not an offering to buy or sell any securities. Such an offer may only be made through the offering memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities are offered through Shopoff Securities, Inc. member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, CA 92612, (844) 4-SHOPOFF.
About Polaris Pacific
Polaris Pacific is the leading real estate sales and marketing group for today’s new residential condominium communities. Drawing on a 30-year legacy of success in the Western United States, Polaris Pacific specializes in new development, leveraging the latest tools and technology to create a clear path forward. For more, visit PolarisPacific.com.
