The pop culture phrase “if you build it, they will come” doesn’t just apply to a baseball diamond in the middle of a corn field, as a recent article published in The Wall Street Journal alludes to. To the contrary, you can build a home without a prospective buyer, explains The Race to the $100 Million Spec House, and ask a pretty penny in return.
That’s what Shelly and Avi Osadon, creators and developers to the stars, did with Beverly Grove, a 15,500 square foot, six bedroom, 10 bathroom residence with a purchase price of $35 million. As the market for speculatively built homes continues to heat up, fueled by a boom in luxury real estate, investors with passion (and guts) can envision their dream home and run with it.
For Mrs. and Mr. Osadon, Beverly Grove was a trophy estate from the very beginning. Nearly two years ago, they took a hillside lot in Beverly Hills and set out to create a modern home that knew no bounds—and apparently, no budget either.
Consider, for instance, the flooring spanning the interior and continuing out into the outdoor living areas. Made-up of 5-by-10-foot engineered stone slabs, which Ms. Osadon says, “have never been used previously in a residential home because of the difficulty of installation,” this is simply unprecedented. Taken altogether, the lavish design elements and amenities, from custom hand-blown glass balls in the foyer chandelier to $5,000 “hands-free” toilets, are all part of leaving a lasting impression.