Sunday, December 21, 2008

Adelaide Place "ease and calm"

Down at the end of Adelaide Place (the cul-de-sac extension of Adelaide Drive east of 7th Street), behind the wood gates (above; click to enlarge photos), is the most expensive current listing in Santa Monica at 808 Adelaide Place. If it sells it will be the most expensive sale in Santa Monica; last year's 1605 San Vicente (MLS) for $22,500K expired unsold a year ago.

This 10 bed / 7 bath, 10,629 SF new house overlooks Santa Monica Canyon on a 24,280 SF lot. Originally listed 3/31/08 for $16,975K, it was relisted 10/30/08 for $12,450K.

"Come see the FABULOUS NEW LOOK of an enchanting brand new hacienda on a private lot w/ocean views. Indulge oneself in the freedom of a spontaneous, undemanding life of ease and calm. Anticipate the myriad pleasures and rewards of urban sophistication with every amenity. The glorious main house has 6 bedrooms and a lower level with space for theater and billiard room. The full guest house/party pavilion has a fireplace and opens to the lovely pool area. Reward yourself with this trophy property."

Can you believe that, a "spontaneous, undemanding life of ease and calm" paying for a $12 million house?! And I doubt its builder is feeling much "ease and calm" right now, trying unsuccessfully to sell this huge spec.

The view over the gate below doesn't show the larger part of the house out of frame to the left.

Below is what the former house looked like in 2004 from about the same place, after selling for $5,500K. It had a sweet spaciousness.


Anonymous said...

Wow...what a great place....perfect location. I would say 7-8m is a fair price.

12 sounds absurd....even for a special property like this.

Anonymous said...

I have been watching this house as an interested purchaser since the development commenced. If the builder purchased the land for 5 and change and built for 3 and change. I cannot understand why they are seeking such a premium. 7-8 is what its worth. Listing for 12.5 insults the intelligence of a prospective buyer.

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