If at first you are unsuccessful, lower the price and try again. This is conventional wisdom in most real estate markets.
But this cheeky and stylish home in Chatsworth, Calif., Goes against these age-old truisms.
Previously on the market for $ 12.5 million in 2018, it is on sale again, this time with a listing price of $ 21.5 million.
But there are methods to this apparent madness, according to the agency Craig knizek, with who Barrie Livingstone of Sotheby’s, puts the property up for sale. The reason for the price increase is quite simple.
“This is the first time that all of the 14 acres have been offered to the market,” says Knizek. “The previous list was only for the iconic house. Since then, the house has undergone a dynamic and creative upgrade and overhaul. And the new listing now includes plots that have received city approval for an additional 10 lots, which can create an exciting and exclusive new gated community of homes with Mid-Century Modern views.
For a developer keen on building a unique community in the hills, this is a top notch opportunity. As currently specified, each of these additional homes would have a separate entrance and not obstruct the view from the posh home already on the property.
Although the house has been redesigned, it has retained its iconic look, which has been a favorite with scouts and celebrities. He has been featured on TV shows like “Mad Men”, “Californication” and “Big Little Lies”, as well as in films like “Transformers”, “Dreamgirls” and “Ali”. And it has also hosted celebrities ranging from Frank Sinatra To Rihanna.
However, it should be noted that this property is not found in traditional Southern California luxury venues such as Beverly Hills, Brentwood, or Bel-Air.
It is located in the much smaller town of Chatsworth, on a hill with forever unobstructed views of the 1,325-acre Chatsworth Preserve, as well as the mountain range beyond.
Designed in 1951 by the famous architect Guillaume Pereira, this is one of four man-made private residences known for its iconic commercial buildings, including the Transamerica Pyramid in San Francisco, Pepperdine University, and the Disneyland Hotel.
Inside, the seven-bedroom, nine-bathroom residence still maintains its timeless mid-century modern style.
It has huge floor-to-ceiling glass walls, as well as blonde wood accents throughout. And although it has the spark of the Atomic Age, many surfaces, devices, and mechanical features in the house have been updated and refreshed.
In addition to the 8,161 square foot main house, there is also a swinging guesthouse with its own circular pool and garden. It’s a place where Marilyn monroe stayed for a while and reportedly had some very famous relationships.
The property is awash in Hollywood history. Sinatra hired him for a while, Judy Garland and Vincent minnelli got married there, and Lucille ball stayed there after his break up with Desi Arnaz.
Some of the most iconic and memorable scenes used by the movie industry may have been shot around its 50-foot swimming pool and 2,000-square-foot pergola lounge. We will never forget Jon hamm, playing Don Draper, during a visit to Los Angeles in “Mad Men”, he caused a sensation in this same residence.
But history is still being made at this popular house, which is still a popular celebrity event and production rental, grossing up to $ 1 million a year.
At current prices, this is by far the most expensive property in the area, asking for $ 2,634 per square foot, while the median price for real estate listings in Chatsworth sits at a rather modest $ 407 per square foot.
But we have a feeling that the pedigree, along with the property’s development potential, will make a well-heeled buyer bite.