Coronado Cays mansion goes for $24M at Hong Kong auction

A mansion in the Coronado Cays went for $24.1 million at a Hong Kong auction last week after years of struggling to find a buyer.

The newly built mansion at 3 The Point went on sale in November 2023 for $43 million, but had its priced reduced to $37.5 million a year later. The sellers then turned to Concierge Auctions, a New York-based luxury real estate firm, resulting in a sale that took 52 days.

A live auction was held at luxury hotel The Upper House in Hong Kong on Thursday. There were nine bidders on the property, with the bidding starting at $19 million.

The sale is technically still pending because the home is in the escrow process, which can take around a month. The buyer was not revealed by Concierge Auctions but public deeds will be available once the sale is finalized.

Despite the sale occurring in Hong Kong, any person from around the globe could have participated, as long as they could come up with a $100,000 deposit and proof of funds. Bidders did not have to be physically present at the auction.

The Coronado property was owned by a trust operated by the Call family, whose patriarch, Jay Call, was the founder of the Flying J. Fuel Co., a major chain of truck stops across North America. After a 2009 purchase, the company is now called Pilot Flying J.

The mansion is 11,715 square feet and has views of San Diego Bay with floor-to-ceiling windows throughout, a theater, and a 3,600-square-foot rooftop deck with a pool spa, and small golf course. It has seven bedrooms and 9 1/2 bathrooms. The property has 320 feet of private bayfront, so there is space for yachts or other watercraft.