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At water's edge in Newport Location: 2717 Shell St., Newport Beach 92625
Asking price: $8.5 million
Listing history: The price was reduced 10.5% to its current level on June 2.
Size: There are three bedrooms, three full bathrooms and three half-bathrooms in 3,300 square feet.
Additional features: Dacor, Bosch, Sub-Zero and Thermador kitchen appliances; custom audio and security system; three gas fireplaces.
Around the neighborhood:
In the first quarter, 22 single-family homes were sold in the 92625 ZIP
Code at a median price of $2.15 million, according to MDA DataQuick. That was a 9% price drop from the first quarter of 2008. Realtor.com listed 149 single-family homes for sale last week in 92625, ranging from $699,000 to $21 million.
Listing agents: Chad Rogers, Hilton & Hyland, (310) 278-3322; and Rob Giem, HOM Group, (949) 554-1214.