Frank Lloyd Wright's last residential design sold at auction. Here's how much
New York real estate broker Peggy Zabakolas discusses the state of the housing market.
The final home designed by legendary architect Frank Lloyd Wright recently sold for just shy of $1.7 million at a recent auction.
The 3,095-square-foot Norman Lykes Home, nicknamed the “Circular Sun House,” is located in Phoenix on the edge of a mountain preserve. The Oct. 16 auction attracted close to 20 bidders competing for the property, according to Heritage Auctions.
The final price of $1,677,500 was 70 percent more than recent sales of comparable homes in the area, according to the auctioneers.
The Norman Lykes Home is integrated into its surroundings on a rocky desert bluff on the edge of the Phoenix Mountains Preserve. (Credit: Heritage Auctions)
LAKE TAHOE REAL ESTATE: HERE’S WHAT A FEW MILLION DOLLARS CAN GET YOU
Set on a bluff amid 1.3 acres of rocky desert, the home is a series of intersecting circles, comparable in some ways to Wright’s other late designs like the Guggenheim Museum.
The home includes features like mid-century modern furnishings, handcrafted Philippine mahogany built-in storage, a master suite balcony and a pool lined with mother-of-pearl.
The Frank Lloyd Wright-designed home is well-preserved and includes mid-century modern furnishings and lots of built-in storage. (Credit: Heritage Auctions)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Wright designed the home shortly before his death in 1959. It wasn’t built until 1967.
Nate Schar, director of luxury real estate for Heritage, said the company carried out an “unprecedented marketing campaign” ahead of the auction.
The garden terrace pool is lined with mother-of-pearl. (Credit: Heritage Auctions)
MICHAEL JORDAN LISTS UTAH HOME FOR $7.5M. TAKE A LOOK INSIDE
“The new owner of the last home designed by Frank Lloyd Wright now owns a masterpiece by America’s most iconic architect,” Schar said in a press release.
Phoenix-area residents looking for a Frank Lloyd Wright home aren’t necessarily out of luck. The David and Gladys Wright House, which also features a spiral design and is also located in Phoenix, is currently on the market for about $10 million.