After buying a home in St. Helena, Calif. for $5.9 million in 2013, Gary Friedman, CEO of luxury furnishings retailer Restoration Hardware, completely remodeled the home using his company’s design team and furnished the home completely with RH materials. Now, it’s on the market for $10.5 million.
MarketWatch staffer Sarah Tilton wonders if the project will lead RH into the business of selling luxury homes themselves.
While he said the company has “no immediate plans” to enter the real-estate business, Friedman now calls the place the first “RH Residence” and hinted that more could be coming at some point. “I do believe there is a void in the market for fully designed and integrated homes that deliver the one thing that none of us can currently buy, time,” he said in an email. “We believe over time we can move beyond just creating and selling products to conceptualizing and selling spaces.”
There are six bedrooms and 5½ baths combined in the 5,140–square foot home and 630-square foot guest house. Four of the bedrooms have private outdoor showers. One of the garages became a wellness center with a gym, yoga studio and outdoor massage room.