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Stunning ‘Basic Instinct’ House in Carmel Lands on the Market for M

If you’re familiar with the breathtaking views from this home along the Northern California coast, we wouldn’t be shocked. It played a memorable role in “Basic Instinct,” the ’90s erotic thriller starring Michael Douglas and Sharon Stone.

Or perhaps you caught this three-level, bluff-top home in the pages of Architectural Digest. No matter where you’ve seen it, the estate is recognized as one of Carmel‘s most scenic and dramatic homes—and it has a dramatic price to go along with it: $17 million.

Locals say the price is a steal, given that the previous owners spent 20 years fine-tuning the property. It features cypress trees that have been cultivated to provide privacy while framing the spectacular water views from the house.

“It’s in impeccable condition and is unlike anything in the area—anything in the world,” says listing agent Tim Allen. He notes that houses overlooking the sea face significant weathering from the elements, but the owners “invested a significant amount in upkeep over the years, so it looks and feels new.”

And yet, the exquisitely crafted 12,000-square-foot home with walls of rich Marmorino plaster (made from crushed marble and lime putty) feels comfortable as well. Allen says that despite the home’s showpiece size and finishes, residents and guests alike feel perfectly at ease.

Of course, it takes unique owners to curate and maintain such a prestigious property, and Steve and Peggy Fossett fill that bill. Hailing from Chicago, Steve was an adventurer who broke a number of speed and distance records in the air and on land and sea. He set his most prominent record in 2002, when he became the first person to fly solo around the world in a balloon. Many of his adventures were funded by his pal billionaire Richard Branson.

When he wasn’t gallivanting across the globe at breakneck pace, Steve would return to the Carmel home that he and Peggy bought in 1997, long after “Basic Instinct” was filmed there in 1991.

At the time, the home was a curious collision of styles, according to Paul Vincent Wiseman, the architect hired to remodel it. He told Architectural Digest it was “part suburban tract, part French château, with Art Déco touches added by a Hollywood art director when it was used in filming scenes for ‘Basic Instinct.’”

Today, the remodeled house has five bedrooms, seven bathrooms, two half-baths, two kitchens, and 12 fireplaces. The home is described as a “California modern” masterpiece, with a copper and glass roof, walls of windows, walnut floors, a two-story domed library, a pool, and numerous water features on the 2-acre grounds.

The home’s decor is simple, to complement the ocean views, coastline, and natural setting. There are intriguing design elements, including a gold- and silver-leaf mural depicting Kepler’s laws of planetary motion on the domed ceiling, a conservatory/breakfast room with walls of glass and oil-brushed bronze overlooking Wildcat Cove and Point Lobos.

The kitchen features a pizza oven, two islands, and an adjacent scullery, 800-bottle wine room, orchid room, and sitting room. There’s another kitchen designed for entertaining, and it comes with a Delfield soda fountain.

A caretaker’s cottage above the garage comes with a full kitchen, living room, and bedroom.

It would have been fascinating to talk to the owners about the home they curated for decades, but alas, they’re no longer with us. In 2007, Steve took off in a small plane from an aviation ranch owned by his friend Barron Hilton, and was never heard from again. The plane wreckage, his ID, and his remains were found 13 months later in a remote area near Mammoth Lakes, CA.

Peggy continued spending time in the Carmel home, as well as her residence in Chicago. She died in October 2017, and the family trust is overseeing the property and handling the sale.

It’s unlikely the Fossetts’ work will be forgotten. Just last month, the caretaker reported receiving a Christmas card from a fan, addressed to Sharon Stone. The legend does live on.

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