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Neutra's Kaufman House "Underperforms" for $19M

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A big sale of an architectural icon is a big sale of an architectural icon— so join us over at Curbed LA for a minute, where the Richard Neutra-designed Kaufman House, in Palm Springs, hopped off the auction block for around $19 million all-told at last night's postwar and contemporary art auction at Christie's, in New York. The mid-century icon "underperformed" according to Christie's execs, who strategically sought to capitalize on the booming contemporary art market for an estimated $15-25 million. The home's last owners purchased it for $1.3 million in 1991, shelling out another $5 million for a recent renovation. Says one Christie's real estate pro: "It's one of the top five influential properties in the country." Damn that pesky mortgage crisis.
· Sold! $19 Million Total For Neutra-Designed Palm Springs House [Curbed SF]
· Kaufmann House Auction Tonight [Curbed LA]