It seems as though the super wealthy have begun to dig a little deeper – literally – to defy the limits of space in their massive luxury mansions. A new phenomenon has hit the real estate stage all around the world – the underground “trophy basement”.
Other reasons why the “trophy basement” has been such an attraction is because of high density, strict building codes and huge real-estate prices.
Hamptons builder Joe Farrell has created a massive 10,000 square-foot “trophy basement” with a skateboard half pipe, spa, squash court and disco – now on the market for $43.5.
Tamara Ecclestone, daughter of Formula 1 racing billionaire Bernie Eccelstone, is adding two underground basements to her 17,000 square-foot home in London. Together they will total 5,000 square-feet and will include a large gym and game room, a pool bar, a billiard room, 3D movie theater and even a bowling alley and nightclub.
And according to public records, even Mitt Romney has decided to replace a single-story 3,000 square-foot beach house in California with a 7,400 square-foot home that has a 3,600 square-foot basement.