First, it was micro-apartments, multifamily units which could be built on land mass as low as 400 square feet or less (depending on the market), with functional kitchens and bathrooms.
Then came the so-called “tiny houses” — a trend so popular it’s given rise to at least four reality TV shows. Really crazy right?
Now, ultra-wealthy homebuyers are showing interest in what is termed a micro-mansion: one of which is already under construction in Ocean Ridge, Fla., a coastal community about 30 minutes south of Palm Beach. The micro-mansion is a 4,042-square-foot, ultra-luxury home.
The developer McKinney’s is targeting market with high-net-worth individuals who can afford to buy a $10 million house, but would prefer their luxury and privacy in a smaller, more manageable space....sweet right!!
McKinney, who’s known for building multimillion-dollar oceanfront mansions have announced the “smaller” house, slated for completion by the end of the year, will have;
- Three bedrooms, the master bedroom is massive in relation to the rest of the house
- Four baths,
- An ultra-modern design and unique amenities such as a sun deck that floats between two pools,
- Antique wood flooring from a sunken 16th-century Spanish galleon,
- And the kitchen is killer with sea-glass kitchen countertops
- and a master bedroom suite with a second-floor outdoor shower that has trees growing into it.
McKinney, who purchased the quarter-acre site for the micro-mansion in October for $350,000, hasn’t yet set a definite price for the finished house but he did say that it will be priced between $4 million and $10 million and that he will finalize the price when completion is closer.
There’s been a surge in interest in micro-apartments and homes, particularly in large cities where development costs and rents have risen sharply in recent years. “Most of the micro-unit properties have been aimed at the higher end of the market with their cost sky rocketing, although there are some exceptions,”
