Spec homes are back with bold designs

New York /
Dec.December 14, 2013 02:00 PM

Building homes on spec, especially the multimillion dollar variety, has always been risky, but building spec homes with bold architecture is doubly so. Nevertheless, a few brave developers around the U.S. are putting together luxury homes with ultramodern designs.

In Miami, workers are wrapping up the construction of a seven-bedroom, seven-bathroom concrete home that is listed for $9.8 million. It features a living area with 24-foot ceilings, 12-foot doors and a 20-by-20-foot concrete wall embedded with an eight-inch-deep relief of a massive oak tree, according to the Wall Street Journal.

The striking home is being developed by Dennis Day, an accountant from the Netherlands who has never built in the U.S. before. Day purchased the property for $1.5 million in 2010, but wouldn’t disclose the construction cost.

“After five years of being in the doldrums, all of a sudden luxury spec is starting to catch fire,” Peter Zalewski, the principal of Miami’s Condo Vultures, said.

But the contemporary design going into spec housing isn’t limited to Miami. From Los Angeles to Aspen, new and challenging structures are being built with no particular buyer in mind. [WSJ]Christopher Cameron


Related Articles

arrow_forward_ios
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
These are the tallest towers underway in NYC
These are the tallest towers underway
in NYC
These are the tallest towers underway
in NYC
A new competition asks what would houses on Mars look like (Credit: Getty Images, Pixabay)
Architecture’s final frontier: Here’s what houses on Mars might look like
Architecture’s final frontier: Here’s what houses on Mars might look like
Midwood's John Usdan and 150 East 78th Street (Midwood Investment & Development)
Midwood sells $33M penthouse at UES condo project
Midwood sells $33M penthouse at UES condo project
Quay Tower at 50 Bridge Park Drive in Brooklyn Heights and 122 Congress Street in Cobble Hill (StreetEasy, Google Maps)
Quay Tower tops Brooklyn luxury contracts once more
Quay Tower tops Brooklyn luxury contracts once more
Eliot Spitzer with 985 Fifth Avenue (Getty)
Eliot Spitzer plans high-end condo on Fifth Ave
Eliot Spitzer plans high-end condo on Fifth Ave
153 Columbia Heights and 50 Bridge Park Drive #15B in Brooklyn (Zillow, Streeteasy, Getty)
No Halloween scares as $11M townhouse leads Brooklyn luxury market
No Halloween scares as $11M townhouse leads Brooklyn luxury market
A photo illustration of 15 Willow Street in Brooklyn Heights (Getty, Google Maps)
Brooklyn’s luxury market jumps back to life, led by $9M townhouse
Brooklyn’s luxury market jumps back to life, led by $9M townhouse
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...