The sale of the Charles Warren Callister designed 176 Palo Alto Avenue closed escrow yesterday at 16 percent under asking with a reported contract price of $1,925,000 which tax records would suggest is just under $600 per square foot. It’s a result which some might find just as stunning as the design.
∙ Inside Callister’s Stunning 176 Palo Alto Avenue [SocketSite]
∙ 176 Palo Alto Avenue: A Meditative Charles Warren Callister Design [SocketSite]
Comments from Plugged-In Readers
Tipster joked that he’d buy it himself if he wasn’t so sure it wouldn’t be worth 20% less in 2 years. So I guess we’ll see -2% per annum for the next 2 years 🙂
A new favorite. Best use of extensive woodwork in a contemporary home. Congrats to the buyers.
I agree. I still think this is one of the most beautiful and interesting homes ever put on Socketsite.
sales prices always stun me. I have absolutely zero ability to determine housing valuation… but a 16% under asking sales price was not what I expected.
I would LOVE to see what the new owners do with this place. (please don’t euromodernize the kitchen, please don’t euromodernize the kitchen, please don’t euromodernize the kitchen).
This is just so beautiful! This is the perfect place for a philosopher or author to live in. If they had the $.
Let me guess; agent double pop? “Take the offer, its a good deal (for me!).”
Editors: please note that the agents during the opens were announcing that the house was definitely smaller than the tax records listed.
Anyway I stand by my comments from Sept 15 and am not surprised, despite how cool the house is and killer the views are, that it sold well below the ask. it isn’t a house that appeals to a broad number of shoppers in the market. It is for a very specific buyer
Goofy bedrooms , goofy upper bathroom. Goofy third bedroom that is really an office. One public sitting room.
Potential to add rooms in the interior courtyard and to close off the loft bedroom with windows, but it will cost good $$ to do that.
Been there, although the square footage may be less than stated, a lot of square footage is lost when you have one tall room like that, so it’s probably a wash.
Funny comment eddy: I didn’t think we’d see this price for a few years. As I recall, it needs about $100K-$150K in work, but a one-of-a-kind, trophy view home in this area finished for under 2.1 has me simply in shock. If I would have known things were this bad, I certainly would have looked at it.
I don’t think any of us expected it would go under asking at all. I predicted in the prior thread that it would be pending in a week. 16% under is definitely a stunner. Yes, it has its issues, but it’s a trophy home for a DINK or retired couple. Recognize that some of the 2/2s at the Beacon were selling new for $1.2M. To get this for 1.925, with all its flaws, is simply an insult to everyone who bought in the last 5 years.
So when this is finished at just over $600 psft, and we start seeing more and more of these, I think the next that happens is a bunch of people who paid much more for less stop paying their mortgages. And then the fun begins.
And I realize it’s larger, and views are a little better, but I don’t see how 100 Palo Alto gets anywhere near $5M.
Include me in the stunned population. I went to the first open house for remodeling inspiration, and I was actually afraid that the open house would be canceled as a result of going into contract in that first week. I will say that the photos very effectively hid some the flaws that Been There described, but the house was still gorgeous. If I were interested in suburban-style living, I would probably have overpaid for this place, flaws and all.
And who is the photographer for this listing? It’s a name worth remembering for my own listing (one day…) Does anyone know?
Their wood structure was so intricately constructed, the overall feel is just gorgeously stunning. But it is quite an amazing feat that they sold this property for as much as that.
suspicious: I had the same thought so I looked up the photographer: openhomesphotography.com
I think that this photos from this house are more beautiful than what you’ll see in his online portfolio, but his other stuff is good too.
The photographer’s name is John Hayes. Openhomes Photography is his company. Yeah, he nailed this one. Massive result for these folks, too.
“Let me guess; agent double pop?”
Yeah, it’s a double-ended sale, so I’ll be interested in whether public records agree.
The sale took longer than I expected, and the price is lower than I expected. Great buy for the long haul.
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