You Can Now Buy a Fraction of a Frank Lloyd Wright House for $1.5 Million
Earlier this year, Frank Lloyd Wright’s final residential design, known as the Norman Lykes House, hit the market for a cool $8.9 million. The Circular Sun House, as it’s also known, was initially put up for sale in 2020 for $7.95 million, but now, the renowned architect’s last-ever creation is taking a fractional ownership approach and offering six people the opportunity to purchase a share of the Arizona home for $1.5 million each.
According to real estate agent Deanna Peters, all six buyers must be in place before closing escrow. Additionally, the group will be introduced before it’s purchased and will need to create an LLC or tenancy in common agreement. They will also be required by the seller to rent the residence for 30 days to vet the property.
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“I believe there exists a group of wonderful people who are Frank Lloyd Wright fans who genuinely want to own a portion of the house with others and work cooperatively to preserve it, update it, and enjoy it,” Peters said in an email to Robb Report. Of course, if you’re not up for sharing, offers from a single buyer will also be accepted.
Up until his passing in 1959, Wright designed over 1,000 structures, including the Guggenheim Museum in New York City and the world-renowned Fallingwater, a private residence in Pennsylvania. The Norman Lykes House, which is currently used as a vacation rental, was completed in 1967 by Wright’s apprentice, John Rattenbury, roughly 10 years after the architect died. Built into the hillside with a curvaceous exterior, the swooping lines were meant to mimic the mountainous desert landscape. It is one of only 14 circular dwellings that the architect created in his lifetime.
Sitting on more than 1.3 acres of land in Phoenix’s affluent Palm Canyon neighborhood, the concrete pad measures 3,095 square feet and comprises three bedrooms, three bathrooms, a library, an office, and a media room. Though the home is a departure from Wright’s signature Prairie or Usonian styles, the interior is still decked out with the architect’s signature design details. Think everything from curving walls clad in Philippine mahogany to plenty of custom wood furniture, banquette seating, stone flooring, and half-moon windows. Some of the other standout perks include a private courtyard and a futuristic, crescent-shaped swimming pool with picturesque views of the city.
Click here to see all the photos of the Norman Lykes House.
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