RESIDENTIAL REAL ESTATE

Waterfront Condos: The 28th Street Marina, a Balboa Peninsula in-fill development that combines ground-floor retail with 35 second- and third-floor condos in Newport Beach’s first new waterfront residential development in 15 years, is opening its models Saturday after a two-month “pre-opening” that netted developer John Newcomb three sales and two reservations (which involve deposits but are not yet firm sales, said a spokeswoman for Newcomb Development).

The two- and three-bedroom condos range from 1,560 to 1,870 square feet and are priced in the $500,000-to-$900,000 range. Buyers also get a chance to lease the 21 boat slips Newcomb acquired and refurbished. The project fronts on the Rhine--an inlet off the Newport Channel that separates Balboa Peninsula from Lido Peninsula.