About eight months after the “Ray House” in La Jolla was originally listed for $6.2 million, it sold earlier this year for $4.3 million to a businessman from the Middle East, the real-estate agents said this week.
Wallace Cunningham — who studied at the Frank Lloyd Wright School of Architecture – designed the home at 724 Muirlands Vista Way that he described as an “open shelter in a garden.” Cunningham also designed the famous oceanfront La Jolla property called “The Razor.”
The buyer, Naser Mahdavi and his son Sepehr Mahdavi, “have been following Wallace’s work for years,” said Kate Hamidi, agent at Berkshire Hathaway California Properties in La Jolla.
“We understood the uniqueness of this property and created an international marketing plan as we knew the buyer would likely not be from the area,” she said.
Seller David Lapin sold the home this past January for nearly one-third less than the original asking price listed in May 2014. “The owner sold to be responsive to the market conditions,” said Brandon White, the seller’s agent at Pacific Sotheby’s.
The “Ray House” has 20-foot floor-to-ceiling glass walls. In one of the bathrooms, a granite basin beneath a glass ceiling faces a half-moon-shaped bamboo garden. Hallways are garden walks and art galleries. “The walls are tipped so you can see the art as you pass by,” Cunning-ham said. “You do not have to turn 90 degrees.”
In 1998, businessman Howard Lapin, David Lapin’s dad, bought the property on Muirlands Vista Way for $845,000, tore it down and commissioned Cunningham to create this glass home with curved walls.
In 2002, the construction of the home was completed, and later that year, Lapin, 74, passed away. His wife, Julia, lived there until she passed away last year.