The higher end of the Westside market has slowed over the past few months. Much of this can be attributed to the uncertainty in the global economy and stock market, but in addition to that, the increased amount of large new construction homes has created a slight glut in the marketplace, north of $2.5 million.
Many of these homes have been thrown up by developers who are more concerned about cutting costs and adding as much square footage as possible, than about creating great, functional homes. As a result, it can be difficult to find a unique home that differentiates itself from the rest of the crowd on the Westside.
Luckily, a very special home just hit the market in Venice that should attract the attention of those looking for a rare property. 645 Milwood Ave is an architectural masterpiece designed by local firm Abramson Teiger Architects and was listed last week for $4,640,000.
The home is a sensational space filled with walls of glass, soaring ceilings, a giant bookcase, and an unparalleled indoor-outdoor flow. It is complete with 2 bedrooms, 3 bathrooms, a pool, and is roughly 2,800 square feet set on 5,400 square foot lot.
My favorite part of the home is the living room. The floor to ceiling sliding glass pocket doors that open to the front patio are astounding and let in massive amounts of light. The bookcase is a showpiece on its own and complete with a sliding ladder and a fireplace directly in the center. The other side of the living rooms features more pocket sliding glass doors that opens to the pool, creating a perfect flow that confuses indoor and outdoor space.
The kitchen opens to the living room space and fits in seamlessly since only a small island separates the two spaces. The kitchen is minimalistic yet functional, and has a beautiful wood grain cabinet system that mirrors the bookcase in the living room.
Beyond the splendid architectural design of the house, the location is also incredibly rare. Milwood has become one of the most sought after streets in Venice due to its lack of traffic, accessibility to all that Abbot Kinney has to offer, and its larger than average lot sizes for the area. Values have soared on the street and figure to continue to do so as Venice’s popularity thrusts forward.
Of course this home is not for everyone. Not only is the $1,600 a square foot price tag is rich even for Milwood, but the fact that the home has only two bedrooms rules out many potential buyers. However, for those looking for a unique property in highly desirable location, it is tough to beat this home.
If you have any questions about this top property, or the market in general please do not hesitate to contact me.