Rendering of the “Wall House,” an addition to Phillip Johnson’s Glass House, designed by internationally renowned Reja Bakh, currently offered for $7.7 million.

Architecture buffs may want to pull out the pocket books for this one. A rare “livable version” of Philip Johnson’s Glass House just hit the market for $7.7 million and includes the 1953-built Alice Ball House, plus a modern design complement by renowned architect, Reja Bakh. The iconic beauty sits on 2.2-heavily-wooded-acres in New Canaan, Connecticut, offering a combined 11,000 square feet of elegant indoor-outdoor entertaining.

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Paradise Valley AZ retreat currently listed for $10.490M by Kirsten Johnson and Denise Pruitt of Arizona Best Real Estate. Photo Credit: Luxury Portfolio International

If you are anything like us, you’ll need a minute to pick your jaw up off the floor after one look at this Paradise Valley dream home. We’ll wait … but the listing won’t. It’s currently priced at $10.49 million and will be scooped up faster than you think, as it comes from a pedigree of architectural talent.

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[Editor’s note: Merry Christmas! This week, we’re taking time off to focus on our loved ones, so we are sharing some of our favorite stories from this year. Keep an eye out for our top features from the archives as we rest and get ready for a brilliant 2018! Cheers, from Candy and the entire staff at CandysDirt.com and SecondShelters.com!]

I grew up around Frank Lloyd Wright architecture, so when I saw one of his homes on the market near my old stomping grounds, I had to share it with you.  It’s a type of architecture not often found in Dallas (one house and the Kalita Humphreys theater are all I know of) where prairie style means something completely different.

Often when I write about second homes, I’m writing about areas to consider. This time I’m dictating exactly which second home you must purchase.  I’m doing this because it’s one thing to impress your friends by owning a second home, but it’s a complete mic drop to add that it’s a Frank Lloyd Wright prairie-style home.

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The Penfield House was designed by the venerated Frank Lloyd Wright, and was one of his last designs before his death in 1959.

Frank Lloyd Wright aficionados who are looking for some income property can hit the jackpot with the Penfield Home, located in Willoughby Hills, Ohio, and situated on the Chagrin River.

The three-bedroom, one-and-a-half-bath home was commissioned by Louis and Pauline Penfield in 1952, the Penfield family said on a website used to showcase the home and its rental availability. (more…)

Often when I write about second homes, I’m writing about areas to consider. This time I’m dictating exactly which second home you must purchase.  I’m doing this because it’s one thing to impress your friends by owning a second home, but it’s a complete mic drop to add that it’s a Frank Lloyd Wright prairie style home.

Known as the F.B. Henderson home, this property is situated on roughly one-half acre in the Chicago suburb of Elmhurst at 301 S. Kenilworth Avenue. It was built in 1901 during Wright’s brief partnership with Henry Webster Tomlinson and is almost a mirror to Wright’s Hickox house in Kankakee, Illinois.  I like this one better because it’s much closer to Chicago. The home has 5,500 square feet with six bedrooms and four bathrooms. It’s been on and off the market for a couple of years (with a rental period in the middle) and is currently listed with Marilyn Fisher with L.W. Realty for $1.1 million, though she’s quoted in the Chicago Tribune as saying, “The price may come down.”

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I have been on pins and needles waiting out this auction, bugging Robbie Briggs and Laura Brady at Concierge Actions all day yesterday. At about eight p.m. Friday night Robbie Briggs emailed me that “It was a fascinating process, and it appears to be successful.” Saturday morning I heard from Laura Brady who said — “we haven’t released details to anyone… the high bidder has formally requested confidentiality about their name and the high bid amount.” Which means the house did sell, we just don’t know for how much and who it sold to.

Great news! Briggs pulled off a near dang miracle!

Refresher: the 48,000-square-foot Hickory Creek mansion, known as Champ d’Or, which translates to “Fields of Gold,” was put up for auction by Concierge Auctions out of New York Friday, March 30 with a minimum reserve bid of $10.3 million. Champ d’Or cost about $46 million, took five years to build, and has been sitting on the market for umpteen years. Last market listing was $35 million and at least five local brokers have attempted to shed the house spending at least a half million to do so. The Denton County mansion was last appraised for tax purposes at $9.72 million, according to the Denton County Appraisal District. Champ d’Or was modeled after Vaux-le-Vicomte chateau in Paris.

Reading between the lines, I’m wondering if there was a confidentiality clause signed.

I have so many questions: how many bidders were there? Did they meet the reserve? A reader on CandysDirt pointed out they must have because, in order to bid, you agreed to start at the minimum amount. (Unless, as someone else said, they dropped the reserve at the last minute…) Did they go into private negotiations? Were the bidders actually there? In most auctions, experts tell me they show up 75% of the time, unlike luxury auto auctions. They like to see the process and what they are buying. Sometimes buyers do send their brokers or POA reps.

I asked a veteran local real estate auction expert (who asked to remain confidential) to speculate on a couple of scenarios and tell me what HE THOUGHT went down. Speculation here, folks. What if, I asked, they didn’t meet the reserve yesterday? Let’s say they stalled out at 7 million, he said, you know everyone is staring at each other, they just thank everyone for participating and end the auction. They may take the top bidders aside, say hey we didn’t make the reserve, what are you interested in putting into this property? In other words, private negotiations begin.

“Pending contract” could mean they are still trying to work out a contract, they didn’t make the reserve and are still negotiating. “Sale pending” may have indicated they made the reserve.

Now let’s say it sold at auction, met the reserve, bingo. Typically, there are no contingencies. If they negotiated privately, the buyer may have said I want to bring in my own inspectors, etc., which any realtor knows just opens up the door for guess what: more negotiations.

The sprawling estate was drawing widespread interest from buyers across the U.S. and internationally, Laura Brady, vice president of marketing for Concierge Auctions, told the Dallas Morning News’s James Ragland. I know that, because even people from Japan who had seen it on my blog were emailing me about it. A refundable $250,000 cashier’s check was required to register, the number of bidders was confidential. James asked Laura some great questions:

Potential buyers were expressing interest in pursuing “the property for residential purposes, which is how it’s used now,” as well as possibly using it for a business headquarters, she said. Brady said developers also had designs on the property, which is about 40 miles north of Dallas.

 

Golfing hottie Hunter and his bride, former Dallas Cowboys Cheerleader Kandi  (Harris) are building a 19,000 plus square foot home in The Creeks of Preston Hollow. The mega mansion w SOMEWHERE in Preston Hollow will not only have underground parking, it will have an underground basketball court! Hunter’s home in Colleyville, (pictured here) meantime, remains on the market at $1,499,999. The 7105 Vanguard (Colleyville) home is just about the value of Hunter’s one-acre Bridge Hollow lot over there at Royal and Inwood. DCAD has it valued at $1.2 plus just for the dirt. He and Kandi bought it in November of 2010. Estimated taxes are $33,000 for starters… I cannot even begin to think what his property taxes will be one that puppy is complete!

 

We are going to feature very select hotels here on SecondShelters, because more hotels are becoming second homes, some offering CondoHotel deals as well as residences. Two weeks ago, I was in New York City, where I have had my share of negative hotel experiences. Hint: you smell Febreeze, there’s a reason. But I finally found the most perfect hotel in New York City if you want to be in the middle of Times Square and simply walk across the street to a theater. I’m talking 46th Street just a bit east of Broadway. Location with a capital L but also, once inside, a complete peaceful oasis from the NYC jungle with a huge Texas plus to make Dallasites feel right at home: interior furnishings by our very own Cantoni.   (more…)