Los Angeles Business Journal, June 24-30, 2013 — Full Houses
Bowling alleys. Movie theaters. Italianate spas. Shooting ranges. Pyrotechnically enhanced dance floors.
These might sound like attractions at a Las Vegas casino, but in L.A.’s ultraluxury home market, they are becoming built-in necessities.
“The hot button in the high-end market is having something nobody else has,” said Lauren Forbes, a broker specializing in luxury real estate for Coldwell Banker in Manhattan Beach.
As the market for luxury real estate – homes selling for more than $3 million – and ultraluxury ($10 million-plus) real estate has taken off, agents, designers and architects are seeking creative ways to distinguish L.A.’s mansions.
“For one home, it’s the size of the lot and frontage on the beach,” said Forbes. “For other houses, it’s being able to say they have a 3,000-square-foot basement with a bowling alley in it.”
To download a pdf of the entire article, click here.