Talk of the Town - Real Estate News from the Hamptons and North Fork

March 20, 2015

The Race to the $100 Million Spec House

Developers aim for new highs—and high prices—for speculatively built homes By Candace Jackson, The Wall Street Journal   When Shelly and Avi Osadon set out to build their dream house on a hillside lot in Beverly Hills, Calif., they commissioned a custom chandelier with 25 handblown glass balls for the entryway. They installed $5,000 “hands-free” toilets with heated seats in most of the home’s 10 bathrooms. They even bought $350 electric toothbrushes custom designed by “dentist to the stars” Jon Marashi. Now all the Osadons need to do is find someone who wants to buy their dream—ideally for their $35 million asking price. More developers and investors are racing to build increasingly lavish homes on spec. Built on prime...

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