From Channel 10:
An architectural marvel that has become one of the most photographed homes in the country is now on the auction block.
The 11,000 square foot home dubbed “The Razor” is hollowed out from the cliffs over Black’s Beach. It boasts floor-to-ceiling glass, polished concrete surfaces and picturesque views.
The home was designed by top architect Wallace Cunningham. It filters light in a way that changes the home’s look depending on the hour.
“To quote Wallace Cunningham, ‘It’s his masterpiece,'” said Hurwitz.
The four-bedroom, six-bath masterpiece also boasts a glass elevator, theater and a two-story guesthouse. The house has been featured in commercials for Calvin Klein and Visa’s Black Card. It has also been showcased in “Architectural Digest.” A commercial for Aston Martin will film later this week.
The home’s owner, software engineer Don Cooksey, spent $34 million in the last decade to build it before he declared bankruptcy and turned it over to a trustee for auction. The bidding will start at $16 million.
The home that has defined luxury now represents another high-priced trend. According to RealtyTrac, million dollar mortgages now make up about 2.3 percent of all foreclosures. That is double the number from 2007, which makes it the fastest growing segment of the foreclosure market.
(psycho-babble alert below – the Razor has been for sale since May, 2008, and been in bankruptcy court for 1+ years)
“What this means is people that had means to sustain an economic downturn are finally being hit,” said Nathan Moeder of The London Group.
However, one owner’s loss is a home buyer’s gain. “I definitely think it’s a steal,” said Hurwitz.
The auction takes place Sept. 28th, and go up in increments of $100,000.
Part of the home, including the kitchen and bathrooms, remain unfinished.
If you would like more information on the auction, plus photos, visit HurwitzJamesCo.com
The commercials below that feature the house nicely:
“The home’s owner, software engineer Don Cooksey, spent $34 million in the last decade to build it before he declared bankruptcy and turned it over to a trustee for auction.”
“What this means is people that had means to sustain an economic downturn are finally being hit”
Having the means to sustain an economic downturn is not the same as having the common sense to use those means for that purpose.
If I could afford to spend $16M on a house, I would have a $1M house and $15M in the bank.
“Having the means to sustain an economic downturn is not the same as having the common sense to use those means for that purpose.”
Nicely put.
Maybe the ad agencies should buy the house. They certainly seem to like it! They can use their Visa Black Card to pay for it! 🙂
Maybe Mitt should look at it…it certainly fits his square footage requirement!
Well, I’d better mail that Visa Black application I got in the mail this week … look at the lifestyle I could have with it 😉
Geez…for a minute I thought it was the Australian condo ads again!
Must be the same ad agency!
Just watched the Calvin Klein ad. If I ever win the lottery and buy that house, first order of business is to hire a hazmat crew to disinfect the pool.
I’m floored by the cojones to build a place like that, even if he maybe should have scaled back his ambitions…
Still, something tells me he doesn’t have any regrets.
As the Apple ad says: Here’s to the crazy ones. If only I can do something so crazy in my life.
More in Architectural Digest from a couple years ago.
W.C.: thanks for the link to AD. Amazing photos.
Would be heartbreaking to have to give up a home like that. The AD photos are so much more beautiful than the ads show.