After 2 years and over 3 million in price cuts the WOW house sold today for a measly $1,403,000. Yes, a measly $1.403. The buyers stole it. Look, the pictures are pretty amazing, but in real life it was even more dramatic and incredible.
Briefly; it sold in December 2005 for $2,100,000.
At that point it was an unfinished shell. No floors, walls, lighting, cabinets, fixtures, counters, cabinets, doors, appliances – an empty shell – it had just a roof, exterior walls, a slab floor and a pool & spa.
The buyers finished it, all 7000 sf of it. And even if their cousin Louie did all the work at cost, they had to have spent $350,000, bare bones minimum. Then they listed it in September 2007 for $5,500,000, no-go, then $4,900,000>$3,900,000>$2,900,000>$2,400,000>$1,900,000 (as as short sale) and sold today for $1,403,000 ($199/sf)
$1,403,000, that’s hard to believe. No doubt the design was too radical for 99% of buyers & cousin Louie’s interior finishing didn’t quite measure up in the $4.0 arena. But still, $1.4.
I was fascinated by this house and mentioned it a few times in the past - here and here and elsewhere that I can’t seem to find right now - so take my comments with a big grain of salt.
$1.4, booo-hoo-hoo!
