The Razor: Architectural Masterpiece To Be Auctioned
“The Razor” house, located in La Jolla, California, is slated to be auctioned after being on the market for three years. A minimum bid of USD $13.9 million will be required—a significant reduction from the initial $45 million asking price and the $34 million construction cost.
“It’s a steal,” said listing agent Bob Hurwitz to AOL Real Estate. “It shows what you can buy right now in the market on the high end.”
The property recently was featured on San Diego’s ABC affiliate (see the story and video here).
Designed by architect Wallace Cunningham—one of Architectural Digest’s Top 100 Designers—the 11,000-square-foot architectural masterpiece showcases 4 bedrooms and 6 baths, a two-level guest house, features private access to Black’s Beach and is constructed from white polished concrete and floor-to-ceiling glass.
What’s more, the largely transparent home has been carefully designed to filter the incoming sunlight in such a manner that the home looks different at different times of the day. Even the pool interacts with the surrounding elements to create optical illusions at dusk.
“In the moonlight it takes on a whole new dimension in photographic black, gray and white, the concrete glowing,” said the original owner to Architectural Digest. “Even storms are fascinating. You’re right in the middle of them. [Wallace Cunningham] really did grow the house from the land and the panorama.”
The home was commissioned to Cunningham more than 10 years ago with an unlimited budget until three years ago, when construction was halted just short of completing the interior and the property was placed on the market due to the owner’s plans to move East. Since then, the home has been the placed under the control of a court-appointed trustee.
The auction details are as follows:
1. Auction by oral bid to be held on Thursday, November 10, 2011, starting at 11AM PDT at the office of the attorney for the Trustee: Jeff Davis of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. at 3580 Carmel Mountain Road, Suite 300 | San Diego, CA 92130 Qualified bidders may bid on telephone conference line. Only qualified bidders will be allowed to participate in the auction. All bids are required to be in US dollars and shall be in cash. Bidders or their authorized representatives must bring a Cashier’s Check in the amount of $500,000 made out to themselves or to Leslie Gladstone, Trustee to participate.
2. Bidders to register by not later than 5 pm PDT Tuesday, November 8, 2011 by by submitting proof of bidder’s ability to timely close (by December 15, 2011) to the trustee.
3. The auction will be conducted by the Trustee who will be the sole judge of the rules by which the auction will be conducted and the high bidder. The minimum bid will be US$13,900,000 with overbids in increments of $100,000.
4. The property will be sold free and clear of liens, but otherwise as, is, where is. The home will be unfinished. Other than personal property that is incorporated into the construction of the house, no personal property (staged furniture, etc.) will convey.
5. The successful bidder will sign a non-contingency purchase agreement and is aware sale is subject to lender’s approval.
—Susmita Baral
[...] what Unique Homes and AOL have been saying about The Razor as the suspense builds and the real estate world waits to [...]