Photo: Brown Harris Stevens
When you think of a luxury home, space seems infinite.But even the super wealthy have space limitations. The best way to make your luxury estate even bigger may be to dig downward, according to the Wall Street Journal‘s Candace Jackson.
Luxury real estate developers are now avoiding the footprint that comes with a mega-mansion and working around previous construction restrictions by building “trophy basements,” Jackson writes.
High density and high real estate prices have also driven home builders to dig deeper.
So what does a “trophy basement” include? In one case, a 10,000-square-foot space with a skateboard half pipe, spa, squash court, and disco.
Joe Farrell, a Hamptons builder, built a dream basement just like that: it’s currently on the market for $43.5 million.
Across the country in Los Angeles, builder Mauricio Oberfeld built a house that’s one-third underground. The 3,000-square-foot basement included a spa, large office, wine room, and movie theatre.
Even Mitt Romney has jumped on the bandwagon. According to public records, Romney has filed an application to replace a single-story 3,000-square-foot beach house in La Jolla, Calif., with a 7,400-square-foot home with a 3,600-square-foot basement, Jackson reports.
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