Purchased by the CEO of Restoration Hardware, Gary Friedman, for $5.9 million in 2013, the Napa Valley estate dubbed “Eight Palms” at 347 South Crane Avenue in St. Helena was subsequently remodeled over the course of two years by the company’s design team and returned to the market last year, positioned as the first fully furnished “RH Residence” and priced at $10.5 million.

According to Friedman, the offering, which includes a 5,140-square-foot main home and a 630-square-foot guest house, was driven by a feeling that there was “a void in the market for fully designed and integrated homes that deliver the one thing that none of us can currently buy, time.”

And this morning, the asking price for the first, and perhaps last, RH Residence was reduced 19 percent to $8.5 million after eight months on the market.

Comments from Plugged-In Readers

  1. Posted by oh my

    Wonder if Gary’s Board of Directors were involved in any of this…hopefully he did not co-mingle any funds.

  2. Posted by Bernalkid

    Hate to be churlish but the wine cooler is reminiscent of the old automats and those spike things hanging over the LR look like something out of the Spanish Inquisition.

    • Posted by Brian M

      Especially given that St. Helena IS seismically active!

      “All of his colleagues at Restoration Hardware are mourning the loss of Gary, today, as he was gruesomely impaled during the weekend’s 5.7 temblor in the central Napa Valley.”

  3. Posted by dwf

    347 Crane Avenue Before (the renovation)

    • Posted by jl

      Thanks. Helpful perspective. $2.6mm seems like a better markup for the redesign and improvement in market conditions since 2013.

  4. Lesson number one: Don’t underestimate the other guy’s greed!
    Lesson number two: Don’t get high on your own supply.

  5. Posted by matteo

    as a showroom, the design team succeeded, not so much as a home.

  6. Posted by Carpe Zeitgeist

    The design symmetry is too much for me. It almost feels like they just put a giant mirror through the middle of the house.

    • Posted by Muddy

      Was just noticing that. The good news: if you divorce, you can just divide each room down the middle.

    • Posted by SFMichael

      Even the soap in the bathroom is symmetrical.

  7. Posted by Some Guy

    A case study in bad taste.

  8. Posted by asiagoSF

    the furniture looks familiar…

  9. Posted by haighter

    So. Much. Taupe.

  10. Posted by BobN

    A large shower for the soon-to-be-estranged couple. Cutting edge…

  11. Posted by Sabbie

    Don’t worry guys, buyers coming soon! Warren Buffett’s Homeservices just announced a push to attract wealthy foreign buyers to US real estate. There should be plenty of money sloshing around, since China’s real estate industry now makes up a whopping 25-30% of its GDP (compared to 15-18% in the US) and they are still seeing around 20% annual appreciation.

  12. Posted by Kh73

    Looks like previous owner before Gary bought their furniture via Pottery Barn. So Gary upgraded the place to RH. One would hope the new buyer of an 8 million dollar home has enough taste to hire someone to come in and put in Holly Hunt level furnishing….

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