The former CEO of aerospace company Boeing, Philip M. Condit, listed his Mediterranean-style home in a private Californian golf community Wednesday, property records show. The house comes with a $9.75 million price tag.
Mr. Condit, 76, and his wife, Geda, bought the plot in Coachella Valley’s Indian Wells in 2002 for $1.4 million, property records show, and embarked on an 18-month project to build their home, said listing broker Bruce Blomgren of Bennion Deville Homes.
When this impressive island estate first hit the market it was $78M. Now it's $22.75M 😳 https://t.co/9it7ERJWsy pic.twitter.com/2uf9vEWPVY
— Mansion Global (@MansionGlobal) October 30, 2017
The resulting house designed by Kristi Hanson, spans 13,415-square-feet, sits on one acre of land and is built around a large central courtyard.
It has five bedrooms, imported travertine flooring, a chef's kitchen with granite countertops, a master suite with a fireplace and an outdoor shower, pool, a 26-seat theater, a 1,500-bottle wine cellar and "great indoor-outdoor living," Mr. Blomgren said, thanks in part to the home’s disappearing doors, which slide into the walls.
One of the home’s most original features is what the owners call a town square. "It’s an area which has an originally restored soda fountain and an antique bar," Mr. Blomgren said, along with a stamped copper ceiling and a games room.
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This is the first time that the house has been on the market. The couple is downsizing, Mr. Blomgren said, and will likely stay in the desert.
Mr. Condit, who was CEO of the Boeing company from 1996 to 2003, could not be reached for comment.
Realtor.com contributed to this story.