As a retail executive, an avid aviator and an amateur artist, Jim Keyes is always drawn to a home’s beauty as well as the flexible lifestyle it offers when looking for a property.
That explains why Mr. Keyes, 62, chairman of Wild Oats Marketing, shelled out $6.35 million in 2015 for a 9,200-square-foot residence in Redondo Beach, California.
"I loved the amazing sunset exposure and that the home’s close to airports," Mr. Keyes said of the home on Esplanade Drive overlooking the Pacific ocean.
Gerry P. Smith, CEO of Office Depot, dropped $6.7 million on a Delray Beach estate that includes an Olympic-sized pool flanked by 150-foot palm trees, a beach volleyball court, and a billiards room with a bar https://t.co/Gi9q5w5alE pic.twitter.com/r1107QnmnO
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However, the real selling point was when he discovered the two-story atrium.
"When I walked in and stood at the center of the house, the skylight just captured my imagination," said Mr. Keyes, who was previously the longtime CEO of Blockbuster, Inc. and 7-Eleven retail chains.
He envisioned a grand piano right in that light-filled spot to "create music at the focal point of the house while looking at the ocean view."
To make the home more sleek and comfortable, Mr. Keyes traveled to Texas, handpicking white limestone to decorate the walls, fireplaces and the kitchen, he said.
He also combined the traditional formal living room and dining room into a large library, which features a 16th-century fireplace from a French castle and is attached to the wine cellar.
"My favorite thing is to be there myself, kicking back and enjoy reading, with a cup of wine and the fire in the fireplace."
While Mr. Keyes has enjoyed owning the house for two years, he is ready to move onto another adventure, he said, deciding to sell the home for $17.85 million.
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The residence includes five bedrooms, seven full bathrooms and one half bathroom, maid’s quarters with a separate entrance, a wet bar, a media/game room, and grand rooms with sliding doors to terraces and loggias.
The home features new stone flooring, a circular staircase, custom wrought-iron railings, dramatic archways, marble countertops and beamed ceilings throughout. An elevator serves all three floors.
There are three outdoor terraces, with the main terrace equipped with a fire pit, a barbecue and kitchen. The home also boasts an eight-car garage.
"Jim’s vision and attention to details completely transformed the home into something spectacular," said Brett Miller of Douglas Elliman, who represented Mr. Keyes when he purchased the house and is now handling the sale with fellow agent Destiny Davis.
The home, sitting on a 7,458-square-foot lot, has direct beach access and is within walking distance of a quaint village with fine dining and shopping amenities, Mr. Miller said.
According to Mr. Miller and Ms. Davis, luxury buyers are gradually migrating south toward the Redondo Beach area from Los Angeles and Manhattan Beach. The neighborhood is also getting more attention thanks to a new NFL stadium, considered to be the world’s most expensive with a capacity for 80,000 people, which is just 10.5 miles from the house.
"It represents a great value for people to hold onto for five or 10 years," Ms. Davis said. "The appreciation potential is huge."
Additionally, Mr. Keyes is also selling his 97-acre Red Sky Ranch with over 1,500 private lake frontage on Lake Travis outside Austin, Texas, for just under $4 million.