Bob the listing agent and his staff have found us here, so I told him I’d try to help him rustle up a few more bidders for the next auction coming up Thursday. Tomorrow is the deadline to get in your $500,000 deposit to qualify to bid! From the U-T:
The auction date for “The Razor” house, a bankruptcy estate in La Jolla once featured in TV commercials, has been rescheduled for Nov. 10, according to the listing agent and recent court records.
The starting bid for the 11,000-square-foot home with private access to Black’s Beach also has changed, falling to $13.9 million from the $16 million set in September, documents show.The never-occupied home, at 9826 La Jolla Farms Road, is the bankruptcy estate of Jimmy Donald Cooksey Jr., according to the documents.
The original Sept. 27 auction was not held because “unfortunately, no bidders qualified for the auction,” the attorneys representing trustee Leslie T. Gladstone wrote. Listing agent Bob Hurwitz, who is based in Beverly Hills, said the real estate company came close with an overseas buyer but the funding could not be ironed out in time.
The terms for the newly set auction also have changed. Previous terms required bidders to wire in $500,000 to the trustee one week before the auction date. Now, interested buyers can demonstrate ability to close two days before the auction and bring a cashier’s check to the trustee in the amount of $500,000. The winning bidder would endorse the check over to the trustee.
The Nov. 10 auction will begin at 11 a.m. at 3580 Carmel Mountain Road, Suite 300 — the law offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., which is representing trustee Leslie T. Gladstone.
Court documents say the property, which was never finished by the former owner, will be sold free and clear of liens.
The home is the work of San Diego-based architectural designer Wallace E. Cunningham, named one of Architectural Digest’s Top 100 Designers.
About $34 million was spent building the estate, which was once featured in commercials for Calvin Klein and Visa. The original asking price was $45 million.
Bob needs to include the girl, or at least have her be the auctioneer!
Whenever I see modern houses all I can think about is how many windows I’d have to clean to keep it looking nice.
Jim, I hope you get a referral fee. And I like the girl better than the house,she looks more stable than that hillside.
Ah windows.
I know someone who owned a trophy home on Emerald Bay Drive (Laguna Beach) and he mentioned his monthly bill to clean the windows was $5000. Yikes!
You need more than money to buy these trophy properties, you need serious income to keep them looking right.
Love the house. I’m about 11 million short, though. Front me?
Tom – A girl like that will cost way more than the $11mm house.
I think it’s one of the most spectacular homes in all of San Diego County.
If I had the money, I would buy it….but ya gotta put in about a million to furnish it, fix that movie theatre, a decked out kitchen and the master bathroom is ugly. Also put in some huge Canary Palms in the courtyard and more plants inside to make it look less sterile.
But if you have the money, that’s no problem!
Turns out the bank had a reserve price of about $17 million and the house failed to sell.
http://www.signonsandiego.com/news/2011/nov/10/la-jollas-razor-house-fails-sell-auction/