A Rare Frank Lloyd Wright-Designed California Home Sells for $22 Million
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A Rare Frank Lloyd Wright-Designed California Home Sells for $22 Million

The ship-like house is the only one of its kind by the architect on the ocean

By KATHERINE CLARKE
Wed, Feb 22, 2023 9:29amGrey Clock 3 min

A significant Frank Lloyd Wright-designed home in Carmel-by-the-Sea, Calif., has sold for its asking price of $22 million, an enormous price per square foot for the area.

The single-storey, roughly 1,400-square-foot property, on a rocky promontory overlooking Carmel Bay, is the only home of its kind completed by architect Frank Lloyd Wright in a coastal environment, according to paperwork submitted for its designation on the National Register of Historic Places. Sitting on a triangular site, the house appears like a ship’s prow growing out of the landscape.

According to the historic places report, the home’s most prominent feature is a hexagonal living room framed in glass panels with panoramic views over the coastline. The three bedrooms are located in wings to the rear of the property, which is shaped like an arrow. Mr. Wright had the lot lowered 4 feet to enable the house to melt into the landscape, the report shows. The house made the National Register of Historic Places in 2016, records show.

The sellers are a group of descendants of the home’s original owner Della Walker, an artist and the widow of Minneapolis lumber executive Clinton Walker. The couple relocated to California in 1904, living there for four decades before Mr. Walker’s death in 1944, the historic places report says. The descendants couldn’t immediately be reached for comment.

The buyer is Esperanza Carmel LLC, records show. The company’s website describes it as a real-estate investment and development firm. It is headed by Patrice Pastor, a businessman and property developer based in Monaco, and owns other significant properties in the Carmel area. A spokesperson for Esperanza did not immediately respond to a request for comment.

Ms. Walker originally wrote to Mr. Wright in 1945, asking him to consider the project, according to the historic places report.

“I am a woman living alone—I wish protection from the wind and privacy from the road and a house as enduring as the rocks but as transparent and charming as the waves and delicate as the seashore,” she wrote. “You are the only man who can do this—will you help me?”

Mr. Wright quickly agreed to work on the project, expressing his pleasure that her letter was “brief and to the point.” In later correspondence between the pair, Ms. Walker wrote to the architect that her daughter had sent her a picture of Fallingwater, the architectural house Mr. Wright had designed in Pennsylvania. “If Mr. Wright did this for a stream, what will he do for an ocean,” she said her daughter wrote.

The original construction of the house, constructed from cedar wood, Carmel stone, steel, copper, concrete and glass, was completed in 1952. In 1956, a studio addition was designed by Mr. Wright for Ms. Walker’s craftwork and weaving at the southeast corner of the building. The plans were eventually used to make way for an expanded primary bedroom in 1960, the report says. The total lot size is around 14,000 square feet and includes a small beach, according to the sellers’ agent.

Canning Properties Group of Sotheby’s International Realty represented the sellers in the deal. Jessica Canning said the home was a rare combination of the ideal setting and architectural pedigree. Though she declined to comment on the buyer, she said the property had sold to the buyer with the very first showing.

“They fell in love with it exactly how it is, right down to the pillows and the books,” she said, noting that all the furniture was included in the sale. “The authenticity and character of it was one of the major draws.”

The famous Carmel Butterfly house is named for the shape of its roof. It has an asking price of US$40m

The property is one of a number of architecturally significant homes that have been marketed for sale in Carmel over the past year. Carmel’s Butterfly House, known for its distinctive Midcentury Modern architectural look, is on the market for $40 million. In July, Brad Pitt bought a roughly century-old home designed by Charles Sumner Greene, a prominent early 20th-century architect known for championing the American Arts and Crafts movement, for $40 million.



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Melbourne set to overtake Sydney as Australia’s biggest city as property demand surges

Strong population growth, major infrastructure spending and comparatively affordable property are expected to cement Melbourne’s position as Australia’s most attractive long-term real estate market.

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Melbourne is poised to become Australia’s largest city within the next decade, with strong population growth, infrastructure investment and relative affordability driving long-term property demand.

A new research report from Knight Frank argues the Victorian capital remains one of the country’s most compelling markets for investors, businesses and residents.

The report highlights the city’s rapidly expanding population, diverse economy and major infrastructure pipeline as key factors underpinning future property growth.

Knight Frank Managing Director Victoria, Dominic Long, said Melbourne’s fundamentals continue to position the city strongly for long-term investment.

“Melbourne continues to stand out as one of Australia’s most compelling real estate markets,” he said.

“It is Australia’s strongest long-term growth city with the fastest growing population, the most diversified economy, world-class liveability and the most affordable major market for office, industrial and residential property.”

Population growth driving demand

Melbourne’s population has grown at an average rate of 1.8 per cent per year since 2000, faster than any advanced global economy, according to the research.

In the year to June 2025 alone, the city added about 123,500 residents, the largest annual increase of any Australian capital.

Population growth is expected to remain one of the key drivers of demand across residential and commercial property markets, including housing, offices and logistics space.

The report forecasts Melbourne’s population will overtake Sydney’s by the 2030s, reinforcing its position as the country’s fastest-growing major city.

Office market offering value

Melbourne’s CBD office market is also attracting renewed attention from investors.

Prime office rents remain significantly lower than in competing cities, with CBD office space about 46 per cent cheaper than Sydney and around 13 per cent cheaper than Brisbane.

That relative affordability is expected to drive long-term demand from occupiers and investors seeking value in Australia’s largest office markets.

The city’s office sector is also showing signs of recovery, with effective rents rising in 2025 and demand increasing for high-quality buildings in premium locations.

Industrial market benefiting from scale

Melbourne’s industrial sector continues to expand, supported by strong population growth, e-commerce demand and the scale of the city’s logistics network.

The city already hosts the country’s largest industrial market, with about 34 million square metres of warehousing stock and significant land available for future development.

Industrial rents remain competitive compared with other capitals, while Melbourne’s port handles the largest container volumes in Australia, further supporting demand for logistics space.

Infrastructure pipeline supporting growth

More than $200 billion in transport infrastructure investment between 2014 and 2036 is also expected to reshape the city and support future property values.

Major projects include the Metro Tunnel, the West Gate Tunnel, the North-East Link and the Suburban Rail Loop, which together will improve connectivity across Melbourne and its growth corridors.

Knight Frank’s Head of Research & Consulting, Victoria, Dr Tony McGough, said these investments would play a key role in supporting the city’s economic expansion.

“Melbourne is Australia’s most economically diverse city and has delivered stable growth for more than two decades,” he said.

“With strong population growth, a highly educated workforce and unprecedented infrastructure investment, Melbourne is well placed to remain one of Australia’s most attractive long-term property markets.”

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