The ad says he already had the frame. I think his brake arrangement is based on the urban riding conditions in Berkeley. They look more useable than safety levers, and personally I have a hard time riding in stop-and-go conditions with drops and no safety levers. I've thought about doing something similar but ultimately went with upright bars on my daily rider. More questionable I think, is his decision to use the stem as a hanger for the front brake cable.

Overall though, it's quite a piece of work; the level of craftsmanship is impressive.