This lavish historic home in Coronado, California, is asking $39 million.
MICHAEL ANDREW PHOTOGRAPHY
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A historic residence 100 feet away from the shore in Coronado, California, was listed for $39 million on Monday, which would set a price record for the area if it sells for the asking price.
Built in 1925 and designed by architect
Richard Requa,
the residence, also known as the “Coronado Castle,” features a 14,142-square foot main house with seven bedrooms and three bathrooms, a guest house and a private garden sanctuary with tranquil fountains.
More: Richard Neutra-Designed Home in Los Angeles Lists for Nearly $8 Million
The owner bought the original property in 2017 and purchased the lot next to it within a year for around $19 million total, according to
Chris Clements,
real estate agent at Compass. After buying the two lots, the owner, who could not be identified in property records, merged them to enlarge the historic property.
“It represents the pinnacle of the historic Southern California architecture, which [Requa] was a big part of with his Spanish Mediterranean style, but preserved and modernized,” Mr. Clements said about the property.
The renovation between 2017 and 2020 preserved the architectural integrity of the property, but added modern touches to the luxury residence.
One of the main additions to the property was the 7,000-square-foot basement. “The basement is partially underneath the original masonry structure, which was a challenge in itself,” said architect
Kim Grant,
who contributed to the renovation, in a video about the property. “We held up the masonry structure dug underneath and excavated out the entire backyard, which required enormous feats of engineering.”
The basement includes a 25-person movie theater decorated with life-sized Star Wars figures, a more than 1,300-square-feet gym, a golf simulator, a great room and a spa.
The garage and a one-bedroom guest house from the old property were merged to create a bigger guest house with a full kitchen and bathroom.
Materials from all around the world, from stone ceramics from Portugal to roof tiles from England, were brought to preserve the essence of the original structure during the renovations.
The Spanish Mediterranean-style spread was built in 1925.
MICHAEL ANDREW PHOTOGRAPHY
The home features hand-made tile flooring, ironwork and stained-glass touches throughout, including the original details from the historic home and the thoughtful additions made during the renovation that aimed to match the style.
“The design goal on this house was not to create something new and different, but to pick up where Richard Requa left off,” Ms. Grant said in the documentary. “The integrity of the original home was timeless and our goal was to continue that idea that in another 100 years, this house will look timeless and current, yet historic. The new and the old should feel like it’s coming from the same hand, or at least the same mindset.”
In front of the main residence, there is a pool surrounded by sunbeds and a pool deck, featuring an outdoor kitchen, a fireside dining area and a spacious lounging area.
The property is protected under the Mills Act, which protects the architectural integrity of the historic building. In addition, this status significantly lowers property taxes. “The property taxes at the list price would be close to $400,000 a year and currently, [the home’s] property taxes are about $40,000 a year,” Mr. Clements said.
The renovations also added a four-car garage, which is a crucial amenity in an area like Coronado, according to Mr. Clements.
“It’s a small little island,” Mr. Clements said about Coronado. Because the value of the land was going up constantly over the years, people started splitting and subdividing their properties, he explained. “So the properties have gotten smaller.”
The property is around four times bigger than the average lot size in Coronado, and twice the size of the bigger lots with a total of 26,000 square feet, according to Mr. Clements. “The ability to have this type of incredible outdoor space but also the privacy is just such a unique thing.”
This article originally appeared on Mansion Global.
https://www.barrons.com/articles/historic-coronado-california-mansion-listed-for-39-million-01648217657
