 | Daily Real Estate News | May 19, 2008 |
Midcentury Modern Homes Are Hot
Homes built in the midcentury modern style continue to fetch ever-increasing prices from preservationists and others who love their rich woods and minimalist design.
The Kaufmann House in Palm Springs, Calif., designed by Richard Neutra in 1946, brought $16.8 million with commission last week at a Christie’s auction.
Marc Porter, Christie’s president in America, said the buyer, whom he declined to name, exercised an option to purchase an orchard adjacent to the property for an additional $2.1 million that includes three cacti that were a present from Frank Lloyd Wright to original owner Edgar Kaufmann, Pittsburgh department store magnate, on his first visit to the home.
The 1960 Esherick House in Chestnut Hill, Pa. — one of the few private residences designed by the influential Louis Kahn — is part of a contemporary-design auction on May 18 at Richard Wright in Chicago. It is expected to bring $2 million or $3 million.
Many of these homes aren’t very livable. For instance, the Esherick House has only one bedroom and the kitchen. The five-bedroom Kaufmann House comes with restrictions that bar its new owner from making any structural changes.
Source: The New York Times, Carol Vogen (05/14/2008), and Newsweek, Cathleen McGuigan (05/19/2008)
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