MAY 2016 | YOUR COMMUNITY NEWSPAPER
Micro-mansions could be future homes of ultra-wealthy By: Marisa Gottesman Associate Editor If you ask real estate mogul Frank McKinney, the next trend for the ultrawealthy home buyer is what he calls a “micro-mansion.” While it may sound like an oxymoron, McKinney explained the concept during an “unveiling” of his prototype at his historic Delray Beach home. The proposed micro-mansion is bigger than the average person’s home. The home will be built in Ocean Ridge on a quarter of an acre of land. When completed, it will be two stories with three bedrooms and three and a half bathrooms totaling 4,042 square feet.
Compared to the 12,000-square-feet mansions McKinney is known for building, the square footage is micro. After all, he has built bedrooms larger than the entire house. What is mansion-like about the spec home, meaning it is being built without
a buyer in mind, will be the finishes. He said he is sparing no expense on the design elements. One quote he said received for sea glass countertops totaled $128,000.
“I have watched the high-end buyer for 25 years,” he said. “The ultra-wealthy are looking to simplify. People want something a little more manageable. We are redefining high-end luxury.”
The house will feature two pools separated by a sun deck and also a wading pool. It is an ultra-modern design that features a lot of glass about 300 feet away from the ocean.
He said he knows the venture is risky and there will always be buyers who want huge homes, but he said he sees this trend taking off.
He said he got the idea for the micromansion after listening to the feedback from some of his previous clients. Many would like to downsize after a period of time, but didn’t want to give up the features of their home, he said.
“You have to be ahead of the trends,” he said. “You have to know what the ultrawealthy want before they know they want it.” He estimates the home will sell between $4 and $10 million and will not be ready to be listed until New Year’s Eve.
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