A couple days ago, we went into the home and gave you our brief take on it. A reader commented about the numbers ($18mm purchase price, $8mm renovation) not adding up, so we’ve done some digging. Our friends at Property Shark will be providing some information shortly, but for now we can tell you the last sales price was less than $18,000,000, and the exact numbers for the renovation are still being put together, but $8mm is a good ball-park, and the seller is definitely not going to take the buyer to the cleaners. She will probably lose a little bit of money on the deal.
Judging by the amount of foundation and structural work that was done to this home perched on the cliff, we can see that $8mm might not be a stretch.