A prewar Newport Beach home on the waterfront of guard-gated Harbor Island has cut $10 million off its asking price to $64 million.

“Although two buyers have unsuccessfully submitted offers to date, the sellers have decided to better align their listing price with the market,” said Steve High of Coldwell Banker, the co-listing agent.

The 3,600-square-foot residence with six bedrooms, five bathrooms and an inner courtyard is one of seven homes listed at over $50 million in Orange County. All but one of those are in Newport Beach, the most expensive being a palatial Crystal Cove estate on the market for $69.8 million. As for the second-priciest home for sale?

That would be the one that’s well into its ninth decade.

Completed in 1937, High said it is one of the few remaining double lot parcels on the island enclave with arguably the best views.

Towering eucalyptus trees surround the home, which fronts a brick terrace with an expansive lawn and 100 feet of frontage.

A private dock for several yachts punctuates the water’s edge.

The property has been passed down through three generations of the same family since 1951  — not unheard of in this high-priced island enclave of 29 homes explained Rob Giem of Compass when the property initially hit the market in July for $74 million.

Evan Corkett of Coldwell Banker Realty also shares the listing with High and Giem.

Seller Leslie Shattuck told the Wall Street Journal at the time that the house originally belonged to her grandparents. It then passed to her parents. When her mother died in May, she and her two siblings inherited the property but decided to sell it.

Although the family has long maintained the property, the listing suggests the buyer might choose to restore, expand or reimagine it as many of the neighbors have done to their homes.

As High put it, “It’s the last undeveloped parcel of its type on the south after south side of the island.”

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