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Developer Carl Panattoni, who owns Panattoni Development Co., is selling his family’s three-home estate on Carmel Beach, near the 10th green of the Pebble Beach golf course in Carmel, CA. Carl bought the complex’s main house – a stone chateau once owned by actor Gene Hackman– in 1993, then later added two adjacent homes to create a 4-acre estate. It is listed at a whopping $79,000,000, making it one of the most expensive properties for sale in the country. Damn, these asking prices just keep getting more insane!

*Thanks to HOTR reader Johnny for the tip!

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  • Daniel

    Meh. Seems like a fantastic property but the architecture does nothing for me.




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  • Brian

    I’m with Daniel. Hard to see anyone paying that kind of money for indifferent design in an essentially useless configuration. It would be better off subdivided but the siting of the houses might not make that realistic. Hyper-wealthy Indians are known to like compounds such as this, but that’s a relatively small market. So we will probably have to watch multiple price cuts over the years until it is either auctioned off or sold for scrap (teardown).




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    • NOVA Ben

      I think teardown is a little much, but I agree with all your other points, as well as Daniel’s.




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  • Grrrowler

    Is there some sort of contest going on among the super-wealthy to see who can come up with the most ridiculous asking price for a house? These prices no longer seem to be based in reality.

    As for this place, the house seems large but unremarkable. The location is beautiful, but for the same money I believe one could buy a small country somewhere.




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  • Joejoe509

    Holy high prices Batman! Sheesh! I’m betting that they jack the price up for pure notariety and publicity sake. You’ll get a lot of attention with that price.

    The house is a bit of a scrambled mess. And what’s with all the driveways? Is there any way to make this more efficient? I’m sure it’s a nice house, but I can’t see how this layout could be the least bit convenient. The grounds are sublime. There’s no way this house will be a tear down with that price, but that’s what I would like to do to it. Tear it down and build a world-class estate in those beautiful surroundings. That house doesn’t deserve its location.




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  • Limedaiquar

    Boring and bland




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  • Onions

    Does it even have a pool? You can’t charge $70 million for a home in CA that doesn’t even have a pool.




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    • lambskin

      I think the pool is to the right between the two smaller houses near the sand. It is long and white so it is probably not filled.




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  • NOVA Ben

    I’m sure we’ll see one of two outcomes with this….a) it’ll sit on the market and undergo a dozen price cuts until it finally sells, or b) some previously unheard-of Russian tycoon will swoop in and buy it after it’s on the market for two days.




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  • Mike

    Would I take it? Obviously. Would I spend $79mm on it if I had that kind of money? Probably not.




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  • sam

    Just looked at this house and the other ocean front homes in Carmel. What an amazing place. It’s beautiful as is and I like that you can bring your mom and dad too and have them live nearby. I don’t think he will get his asking price but I could be wrong – I just think all ocean front houses should come with a storm flood/tsunami disaster/beach erosion discount built into the price. And this looks like it is over priced by a factor of 2.




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