realtor.com
There are a lot of stunning historical mansions in Hollywood, but none is quite like the home known as “Artemesia.” The world’s largest Craftsman home has been undergoing a meticulous restoration for the past three decades.
The home, built in 1913 by Frederick E. Engstrum, has been on and off the market for the past five years, ranging in price from $10 million to $12 million. It’s now back on the market, for $11,750,000, and this question looms: Will the latest round of renovations finally help it sell?
Homeowner Leonard Fenton has been working on the restoration of Artemesia for over 30 years, but this time he’s confident his work will pay off with a satisfied buyer.
He’s already had an offer from superstar TV producer Shonda Rhimes. Angelina Jolie and her kids toured the property’s nearly 2-acre grounds when they were looking for a new home. In fact, Artemesia overlooks the historic Craftsman belonging to Brad Pitt, Jolie’s ex. Alas, Jolie opted to purchase the $25 million DeMille estate instead.
Actress Lydia Hearst and her husband, comedian Chris Hardwick, as well as Denise Richards are among the Hollywood set who’ve toured the grounds for a possible purchase.
realtor.com
So what’s going to sell the 13,290-square-foot home?
“I asked the Realtors® about the feedback they were getting, and I went along on some of the showings, to get an idea of what buyers were looking for,” says Fenton.
In his latest round of renovations, Fenton did the following:
- Replaced some of the old pedestal sinks with vanities that provide more counter space, and added new bathroom fixtures to fit the historical theme
- Built a pool in the garden area just outside the breakfast room
- Lightened up the interior with brighter wall coverings and reflective paint
- Installed more electrical outlets (Craftsman homes have plenty of french doors and big windows, but this home in particular is so huge that sunlight doesn’t reach all parts of the interior)
- Gilded the ceiling
- Restaged the entire home with his own personal treasures, including pieces he recently purchased at auction (about 90% of the furnishings and accessories are available to purchase with the house)
realtor.com
realtor.com
realtor.com
Of course, the house wasn’t without stellar virtues before the latest round of renovations. Fenton had already redone the kitchen with modern appliances, without making it look like an Italian design showroom.
realtor.com
He also carefully restored the home’s five grand Batchelder fireplaces and the stunning leaded-glass ceiling in the master suite (almost certainly designed by Louis Comfort Tiffany after he moved to California).
realtor.com
And those five Murphy beds cleverly placed outside on the third-floor sleeping porch? Why mess with perfection and do anything more than add new mattresses? They’re every kid’s (and many adults’) dream come true!
The specs for the total package include nine bedrooms, seven baths, two half-baths, and a guesthouse. There’s also a ballroom, billiard room, numerous parlors, one of the world’s largest private pipe organs, and the grandest African mahogany staircase you’ve ever seen.
There are also terraces with unmatched views of the Hollywood skyline, as well as streams, ponds, and fountains. Even deer and other wildlife frolic in this natural setting.
realtor.com
realtor.com
realtor.com
Fenton says he’s learned a lot in this long selling process. Here are two of his biggest takeaways:
- Improvements must be done with prospective buyers in mind. It’s a mistake for a developer or homeowners to make changes just for themselves.
- It’s best to make improvements before you list the property. If you have to list a couple of times, with improvements in the middle, you risk having the property viewed as “distressed” or hard to sell.
realtor.com
Fenton hopes a buyer will come along who appreciates the historical value of the home and wants to share it with others.
As he waits, it isn’t exactly awful to live at Artemesia and enjoy the home’s many wonders. There truly isn’t anything like it in the world.
The post What Will It Take to Finally Sell the World’s Largest Craftsman Home? appeared first on Real Estate News & Insights | realtor.com®.
from DIYS http://ift.tt/2vlvS9C
No comments:
Post a Comment