Down from its original asking price of $45 Million, The Razor’s starting auction price of $16 Million represents the luxury oceanfront realty deal of a lifetime.
For those who appreciate modern architecture, pure opulence and unparalleled Ocean Views, opportunity is calling in the San Diego suburb of La Jolla. Â“The RazorÂ” sits hollowed into a bluff overlooking the Pacific Ocean. From its perch above BlackÂ’s Beach, The Razor boasts majestic views of the Pacific and the lush Pine Mountains of CaliforniaÂ’s Torrey Pines State Reserve.
After the original owner was faced with financial difficulties the Razor was put under the control of a court-appointed trustee. After remaining on the market for three years The Razor is going be sold by verbal auction on September 28 at noon PDT at the premises. The auction presents a rare, but exclusive opportunity for discerning home buyers. The auction price will be exclusively available to qualified bidders and bids must be in US Cash. In order to qualify to attend bidders must wire US $500,000 to the trusteeÂ’s account by 5pm PDT on Tuesday, September 21, 2011 and submit proof of ability to close by November 15, 2011 to the Trustee.
The house was built by architect Wallace Cunningham who was given a free rein as well as an unrestricted budget by the original owner. Over 8 years Cunningham commissioned a glass oasis worthy of the Rolls Royce of Ocean viewsÂ—and with a building cost of $34 million to prove it. With the mere cost of building The Razor reaching $34 million alone, the minimum bid of $16 million required to purchase the Razor in its upcoming auction is essentially a clearance rack price for a house of this caliber. Â“ItÂ’s a steal,Â” says listing agent Bob Hurwitz to AOL Real Estate, Â“It shows what you can buy right now in the market on the high end.Â” -Lindsay Gabrielski
Note:Â Hurwitz James Company Website does not reflect the Auction Price
View: Architectual Digest Article on The Razor