Esherick House Still on the Market

Last week was an emotional one for anyone following the modernist home auction market: After Christie’s sold Richard Neutra’s Kaufmann house for a record-breaking $15 million (which nonetheless barely made its $15 to $25 million estimate), Louis Kahn’s 1961 Esherick house went unsold at Wright, likely a victim of the troubled economy. The house was estimated to go for $2 to $3 million. Wright, which pioneered the market with its groundbreaking $3.1-million sale of Pierre Koenig’s Case Study House No. 21 in 2006, has issued this statement: "The auction process of real estate is still a new phenomenon. An auction is a snapshot of a given market on a given day. On this day, there was not a buyer. We firmly believe that the beauty and architectural importance of the property will lead to it ultimately achieving a strong price. Wright will continue to work to find a buyer who will treat the home with care and sensitivity, thereby helping to preserve Kahn’s architectural legacy." www.wright20.com

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