Frank Lloyd Wright’s final residential design, the Norman Lykes House, has been on and off the market since it was listed for $7.95 million in 2020. Now, the owners of the property are no longer seeking a new sole owner in the traditional sense. In fact, a collection of fresh owners may just fit the bill. The property’s listing agent, Deanna Peters, confirmed to AD the home is being offered as a fractional sale, allowing six people to buy into the iconic home for $1.5 million each.
“I do think there exists a group of wonderful people who are Frank Lloyd Wright fans who genuinely want to own a portion of the house with others and work cooperatively to preserve it, update it properly, and enjoy it,” Peters tells AD over email. According to her, the home will close in escrow when all six buyers are confirmed and have signed either a tenants in common agreement or formed an LLC. Potential owners will have the opportunity to meet one another beforehand and will be required to rent the home for a month prior to purchasing in order to do their due diligence. “The owner is offering reduced rent to them and will credit that sum back at closing,” Peters adds.
The residence, also known as the Circular Sun House, was the final home Wright ever designed and was completed posthumously in 1967. Inside, the property includes three bedrooms, three bathrooms, a den, library, office, and pool. Designed to mirror the surrounding bluffs of the Phoenix landscape, the curved home is one of 14 circular houses Wright created over his lifetime.