Is Restoration Hardware
Soft Launching a Property Business?
Tuesday, August 16, 2016
By Sarah Tilton
Could Restoration Hardware, the luxury furnishings retailer known for pitching African mud cloth throws and Venetian beaded mirrors, someday get into the business of selling luxury homes themselves? There’s been a first foray: the St. Helena, California, home of company chief Gary Friedman, which is on the market for $10.5 million.
Friedman, 58, said he paid $5.9 million for the Napa Valley house in 2013 and initially planned to turn it into a place to relax, but then found another house closer to where his company is building RH Yountville, a food, wine, art and design complex. Friedman then decided to plow ahead with a two-year remodel of the St. Helena house that is top-to-toe Restoration Hardware: He said he personally led the RH design team, and all the furnishings are RH down to the linens and planters. The wine in the vault is from a business RH bought that sells wine, art and antiques.
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.”
The 5,140 sq. ft. main house and 630 sq. ft. guest house have a total of six bedrooms and 5½ baths. 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.
Hillary Ryan of Pacific Union and Christie’s International Real Estate has the listing.