702 1st Street, Coronado
Listing price: $14,495,000
House size: 8000 sq ft
It’s the quintessential picture that comes to mind when thinking about San Diego: the downtown skyline, with its glass towers reflecting off the San Diego Bay. And it’s a view that’s available from nearly any window, balcony, or patio of the bayfront estate at 701 1st Street in Coronado.
Per the property’s listing, two units are on site — an 8000-square-foot main home with five bedrooms, five full baths, and two additional half baths, and a 1200-square-foot “guest casita” with two bedrooms and baths, where “breathtaking water views form a 180-degree arc around the home.”
Walls of windows bring the bay view into indoor entertaining areas such as the living room and formal dining room, as well as the expansive master suite that “encompasses the entire third level with its own private view deck, sitting room with fireplace, exercise room/office, wet bar, and 200-square-foot closet with its own self-contained laundry.”
Other rooms include a main kitchen plus a second fully-equipped prep kitchen, a chilled “wine vault,” and a 900-square-foot media and recreation room. A four-stop elevator provides access to all levels of the main house, including the six-plus-car garage, which has a rotating platform on which to park in case backing your car out onto the driveway is too difficult a chore.
The home received a LEED Gold certification of energy efficiency when built, a testament to the design and detail that went into the property’s construction which, according to the listing, “is first rate” and includes “arches and scallops throughout the house in geometric motifs on crown moldings, carved cabinets, solid knotty alder raised panel doors, and elegant patterned Spanish tile or French white oak wood floors.”
“Even with the open and spectacular views, the property offers considerable privacy,” continues the listing agent. The private backyard has an outdoor dining area, vanishing-edge pool overlooking the bay, a firepit with built-in seating, and a rooftop deck above the guest house.
The property is owned by Jeff and Sharon Stevens of El Paso, Texas, who don’t appear to have ever lived in the property full-time since its construction in 2010. Jeff Stevens is a founder, president, and CEO of Western Refining, Inc., an independent oil refiner based out of El Paso that, according to the company’s website, processes over 150,000 barrels of crude oil per day into gasoline, diesel, and jet fuel.
The Stevenses are noted benefactors of the University of Arizona, where they met as students. In 2009, the couple donated $10 million to the university’s athletic program, primarily to fund upgrades to facilities for the football team and Arizona Stadium in Tucson, including installing a 5356-square-foot video screen.
The property was originally listed for sale in October of 2011 with an asking price of $17,500,000. During the past 20 months, that price has been reduced three times, and it’s currently offered at $14,495,000 more than $3 million less than the sellers first sought.