Luxury Real Estate Headlines: Last Week in August 2016

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

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$137,000,000 USD | Palm Beach, Florida | Sotheby’s International Realty – Palm Beach Brokerage

“Landmarked by the town of Palm Beach, the 1930s Italian Renaissance mansion measures about 60,350 square feet with six bedrooms, two elevators and a 50-foot living room with an elaborately carved wooden ceiling”

Internet Entrepreneur Jim Clark Lists Palm Beach Estate for $137 Million – Wall Street Journal

A Berkeley Mansion, Empty for a Decade, Hits the Market at $7.5 Million – Bloomberg

Grammy-Winning Jazz Vocalist Bobby McFerrin Lists Philadelphia Home for $3.495 Million – Mansion Global

6 Stunning Homes in the Chicago Suburbs – The Week

A Los Angeles Home Modeled After a French Chateau for $13 Million – Wall Street Journal

A Villa in St. Barts, Where the Sound of Surf Beckons – Mansion Global

$1,400,000 Homes in California, Connecticut and Pennsylvania – The New York Times

Home of the Day: Divine Dwelling in South Pasadena – Los Angeles Times

Three Homes for Sale with Lavish Bathroom Vanities – Wall Street Journal

Why this Billion Dollar Startup is Moving Offline – CNN Money

Homes in the South of France Have Become Less Costly – The New York Times

Why San Francisco’s Pacific Heights Stands Out in the High-End Market – Financial Times

6 Homes Perfect for Pool Parties – The Week

Ridgefield, Conn., is Far From the New York Crowd – Wall Street Journal

House Hunting in… Buenos Aires – The New York Times

Modern and Charming: These Country Mansions are the Best of Both Worlds – Elle Decor

Pebble Beach Car Auctions Set Records – Forbes

Market Spotlight | Brussels

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Home to a booming art scene and fashionable neighborhoods such as Ixelles and Uccle, many well-heeled individuals call Brussels home. A UNESCO World Heritage site, the captivating city comprises both historic architecture as well modern and contemporary design flair. Join us as we travel through the world-renowned city and explore exclusive homes.

Brussels4Price Upon Request | Brussels, Belgium | Brussels Sotheby’s International Realty

An Anglo-Norman style mansion originally built in 1900, this estate was entirely renovated in 2010-2011; the finishes are elegant, modern and comfortable. All floors have elevator access, while reception areas are composed of different lounges and a very bright dining room that leads to “Belle Epoque” veranda with exceptional visuals. The mansion, features seven bedrooms, six bathrooms, a games room and a concierge house.

Brussels3Price Upon Request | Brussels, Belgium | Brussels Sotheby’s International Realty

Located in the Prince d’Orange area, this beautiful contemporary villa designed by Marc Corbiau consists of over 1,000-square-meters of living space. The house offers five large bedrooms, each with their dressing room and bathroom, an office, library, separate studio with its own entrance, and a garage for six to seven cars and car elevator. This home is a bright, contemporary and original villa in the heart of a green environment.

Brussels2Price Upon Request | Brussels, Belgium | Brussels Sotheby’s International Realty

A beautiful residence built in 1928 on 6,000-square-meters of private park, it was completely renovated in 2005. The house offers over 1,000-square-meters of living space spread over three levels and offers elegant reception areas totaling about 300-square-meters. A tranquil swimming pool with a lounge deck and Jacuzzi adorn the manicured grounds. This prestigious property is ideal as a main residence or for an embassy.

Brussels1Price Upon Request | Brussels, Belgium | Brussels Sotheby’s International Realty

This modernist masterpiece in the Bauhaus style was designed in 1928 by award-winning architect Édouard Taelemans. Renovated between 2011 and 2013 by the architect Erpicum, the interior design has been modified in order to create a game of light and space between the different living spaces. A showcase of strictly pure architecture and minimalism, this home is ideal for the art-lover.

Discover more properties for sale in Brussels

Video of the Week: Modern Light-Filled Chalet in Andorra

1.700.000 € EUR | La Massana, Andorra | Andorra Sotheby’s International Realty

This fantastic property sits on a plot of approximately 1,000-square-meters and has about 600-square-meters of living space. The property is known for its many floor-to-ceiling windows that integrate and create a unique fusion of indoor and outdoor spaces. Furthermore, the contemporary-classic style emphasizes the meticulous attention to detail of the 50’s while calling out to current comforts. Situated on the sunny side of the valley of La Massana, the house has an ideal south orientation soaking in the sun and taking on captivating valley views.

Carry the Torch | Swim to Success

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Swimming at the Summer Games ranks highly among fans and spectators as one of the most highly anticipated competitions. Over the last few weeks, gold medalists Michael Phelps, Katie Ledecky, Katinka Hosszú, Simone Manuel and Lilly King captured the hearts and minds of the millions of viewers tuning into the events in Rio. Become a part of the action in this week’s installment of “Carry the Torch” and dive-in to these exclusive pools in some of the world’s most sought after locales.

California$4,999,900 USD | Carlsbad, California | Pacific Sotheby’s International Realty

Tucked away on the 14th hole of world-famous La Costa Golf Course, this home is meticulously and artfully designed. This sweeping Estate was created to capture the romance and mystique of the tropics while offering the excitement, texture and drama of sensational entertaining. Every detail has been carefully selected and crafted to fashion a setting of ultimate comfort, elegance, ease, intimacy and hospitality. The grounds include a masterfully designed, imported glass mosaic pool and spa.

BarbadosPrice Upon Request | St. James, Barbados | Barbados Sotheby’s International Realty

The Chummery Estate, originally built for the chairman of Macy’s, is the epitome of sophisticated and casually elegant island living. Features include a drawing and dining room overlooking the Junior Olympic size pool and a gourmet kitchen. The family room offers ample space as an office, a media room, or a cooling retreat on a warm summer day. The Chummery Estate represents one of the finest privately held botanical offerings on the Island of Barbados. The gardens were carefully planned and executed with precision; the perfect backdrop for strolling on the tranquil paths, or enjoying a cup of tea in the cooling Palm Thatched Hut.

ChinaPrice Upon Request | Beijing, China | Beijing Sotheby’s International Realty

The Powerful Mountain project is a masterpiece developed by the R & F Properties Group. The Powerful Mountain mansion is a detached single house, a truly astonishing and unrivaled estate in its scope and architectural form. The property is located at within the 2nd ring among the most-lively area in Beijing. The property’s inspiration comes from the Baroque Era, and is imprinted with the that signature sophistication, refinement and luxury. The house is completed by an indoor swimming pool, wine cellar and screen room.

BrazilR$ 28.000.000 BRL | Rio de Janeiro, Brazil | Boss Nova Sotheby’s International Realty

Located in Costa Verde and fully integrated into the local nature of Portobello Resort & Safari, this contemporary residence offers ample entertaining spaces both indoor and out. Also featured on this property is a swimming pool, underground wine cellar for 3,000 bottles and tasting room, spa with heated Jacuzzi, steam room, massage room, fitness center with sound system and a tennis court with separate dressing room.

Spain18.900.000 € EUR | Mallorca, Spain | Mallorca Sotheby’s International Realty

This property is located in the exclusive residential area “Las Brisas” in Port Andratx. The main house comprises a dining room and living area with fireplace and representative library. The striking villa features an outdoor pool area accessible from all ground-floor rooms as well as an indoor one. The home also offers a cinema, an entertainment area with bar, wine cellar, staff area and two guest apartments.

See the rest of our “Carry The Torch: Homes Fit for the Summer Games” Series

Sotheby’s Institute of Art | What to Look Out for at an Affordable Art Auction

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If you’re new to auctions and unsure where to start, don’t be daunted. Art historian Elizabeth Pergam, who teaches on the Sotheby’s Institute of Art Master’s programs in Art Business and Fine and Decorative Art and Design in New York, shares some advice for auction first-timers on what to look out for when buying a work of art and how to begin building your private art collection from scratch.

I always ask very established collectors, what was the first thing they bought and do they still have it. Most of them do. Art is an investment but, given that this sale is your entrée into collecting, your real reason to buy a work has to be that you love it and want to live with it.

The first thing to do is see what catches your eye. Listen to your instinct. Ideally you would see the work of art in person, but you can do this online as well. Once you’ve identified an image you’re interested in, then ask yourself, why that one? Look at it in comparison to something similar and identify why you find it more appealing. Say you’re drawn to a landscape – is that because it’s a snowy landscape or because it has figures in it? Once you have that instinctive response, you need to deconstruct it a little more to see why you’re attracted to that work.

Find out as much as you can about the artist who made the work. Take a look at auction result databases such as Artnet or Artprice. You can go to a library like the Frick Art Reference Library in New York that has a subscription, if you don’t yourself. Do your research thoroughly. Check whether these works come up at auction regularly and what prices you should expect. Most estimates are based on past auction records so when artists have a much shorter auction record the cataloguers have a slightly harder time. That always represents an opportunity.

As you accumulate art objects, you learn distinctions between them. The benefit of being a private collector is that even if you have a theme – say you’re a collector of 18th century French drawing – you aren’t confined to that. It might be where the emphasis is but it’s not like you’re answering to a board of trustees at a museum, you are an individual. Be open to letting your tastes develop and change. Collections evolve over time.

About Sotheby’s Institute of Art3rd

Sotheby’s Institute of Art is The Graduate School of Art and its Markets. Evolving from a small connoisseurship program started by Sotheby’s Auction House in 1969, Sotheby’s Institute is now the foremost leader in art business education and object-based learning. Its global faculty represent the best of almost every facet of the art world, helping students decipher and master the unique forces at play at the intersection of art and commerce.

With campuses in the cultural capitals of London, New York and Los Angeles, Sotheby’s Institute offers graduate level programs that have become more relevant than ever in an art world that is constantly seeking individuals with art historical scholarship and business acumen. Besides Master’s degrees, Sotheby’s Institute offers programs of study such as summer classes, 15-week semester courses, online learning and executive education. Sotheby’s Institute of Art’s programs provide the knowledge and credentials needed to achieve success in today’s worldwide art markets and cultural institutions.

Luxury Real Estate Headlines: Third Week in August 2016

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

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$4,350,000 USD | Hinsdale, Illinois | Village Sotheby’s International Realty

“Completed in 2006, the two-story house has five bedrooms, five full bathrooms and three partial baths.  The property, situated roughly 18 miles west of downtown Chicago, offers a finished basement that includes a home theater, a trophy room, a wine cellar, a bowling alley and a rec room where the family keeps a pinball machine and arcade games.”

Pro Golfer Jeff Sluman Asks $4.35 Million for Chicago-Area Home – Mansion Global

NFL Kicker Matt Bryant Lists ‘Kicking Back’ Alabama Beach Retreat for $3.35 Million – Wall Street Journal

A Secluded Villa in Ibiza Close to All the Island’s Action – Mansion Global

Disney Junior Exec. Joe D’Ambrosia Sells His L.A. Home for $1.225 Million – Los Angeles Times

Inside a Former Home of Millicent Rogers in Taos, N.M. – Wall Street Journal

In Rural Montana, a High-End Home for Outdoor Enthusiasts – Mansion Global

A Manhattan ‘Jewel Box’ Asks $3.275 Million – Wall Street Journal

In California, an Eco-Luxe Home Where Organic Vegetables Grow – Mansion Global

New Towers, Higher Prices Lift Chicago’s Real Estate Market – Forbes

The Ripe Time to Buy a Vineyard in Bordeaux – Financial Times

Hard-Core House Collectors – Wall Street Journal

10 Ultimate Waterfront Homes We’re Coveting Now – Elle Decor

Sotheby’s NY to Auction Roy and Marilyn Papp Collection of Traditional Chinese Paintings – Blouin ArtInfo

The Amazing Cars for Auction at RM Sotheby’s Monterey – The Week

 

RESIDE Magazine | Panorama Drama

From the pages of 2016’s second volume of RESIDE, discover homes with advantageous and captivating views in “Panorama Drama.”

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“Does it have a view?”

It’s what buyers scouting properties in mountain resort communities want to know.

“That’s probably the most-asked question,” says Nels Cary of Telluride Sotheby’s International Realty in Colorado.

The views that extend beyond property lines are as important to luxury buyers as the amenities within the homes.

Telluride$39,100,000 USD | Telluride, Colorado | Telluride Sotheby’s International Realty

High altitude Telluride is set in the southwest corner of the state and surrounded by a cluster of “14ers” or 14,000-foot peaks of the San Juan Mountains. “The significance of the view cannot be understated,” says Cary. “It’s everywhere and from everywhere.”

Mountain views have been called inspirational, mystical and sometimes sacred. And they affect homeowners in profound ways. “It’s one of those situations where people come here and they’re absolutely mesmerized by the natural beauty of the area,” says Cary. “They put themselves in the picture, seeing themselves with a cup of coffee in the morning enjoying the magnificent views or in the late afternoon taking in the sunset. It’s a big deal.”

FrancePrice Upon Request | Provence Alpes Cote d’Azur, France | Côte d’Azur Sotheby’s International Realty

It’s hard to quantify the value of a great view, but it can certainly add a double or even triple-digit percentage premium onto the price of a home. In the Idaho panhandle city of Sandpoint, for instance, a five-acre property in a standard subdivision ranges from $100,000 to $150,000. The equivalent home with dramatic views of Lake Pend Oreille, the state’s largest lake, and vistas that span Idaho’s Schweitzer ski mountain as well as snow-capped ridges in Montana, Washington and Canada, recently sold for $1.1 million, according to Jeff Bond of Tomlinson Sotheby’s International Realty, with offices in Sandpoint and Coeur d’Alene. “I happen to live on one of those views. I go home at night and sit on my front deck. It’s a lot better than watching TV,” he says.

Idaho$1,550,000 USD | Sandpoint, Idaho | Tomlinson Sotheby’s International Realty

The most desirable homes are sited to take advantage of views from multiple rooms. If those views are unobstructed and look out onto protected lands that can never be developed, so much the better. Such is the case with many properties in Big Sky, Montana. It is a region focused on the conservation of native habitat, and its views of Lone Peak, Spanish Peaks and the surrounding wilderness area are iconic.

Nicaragua$759,000 USD | Rivas, Nicaragua | Nicaragua Sotheby’s International Realty

When it comes to panoramas, Big Sky claims an added bonus. It is located in the Greater Yellowstone Ecosystem in a corridor of migrating elk, moose, deer and bear. “To be in an area where you have that wildlife all around is very desirable,” says Cathy Gorman of Big Sky Sotheby’s International Realty.

Montana$3,395,000 USD | Big Sky, Montana | Big Sky Sotheby’s International Realty

And transporting.

“There’s the peace and the tranquility,” says Gorman. “To be able to see a herd of elk on the next ridge or a weather condition going by takes you away. In a world of hustle, bustle and tension, the views are a real de-stresser.”

Article provided exclusively to Sotheby’s International Realty® by Iyna Bort Caruso

Video of the Week: Magnificent Stone Colonial in Baltimore, Maryland

$2,795,000 USD | Baltimore, Maryland | Monument Sotheby’s International Realty

Elegance and sophistication at its best. This magnificent stone Georgian Colonial that overlooks Sherwood Gardens and is highlighted by the meticulous architectural details making this house one-of-a-kind. The home features six bedrooms, five full and two half-baths along with billiards room, wine cellar, heated unground pool and a partially covered patio with outdoor fireplace on almost an acre of professionally manicured land.

Carry the Torch | Rio de Janeiro

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The host of this year’s Summer Games, Rio de Janeiro is a historic city and Brazil’s second-most populous. Home to world-class beaches, Sugarloaf Mountain and the towering statue of Christ the Redeemer, Rio is the most visited city in the southern hemisphere. In our second installment of “Carry the Torch,” let’s explore some exclusive homes in this tropical destination.

imagereader.aspx-3R$ 15.000.000 BRL | Rio de Janiero, Brazil | Bossa Nova Sotheby’s International Realty

This sophisticated contemporary property is situated in a bucolic and charming region of Botanic Garden just few steps from Horto. The home is inviting offering a large master suite with walk-in closet and unrivaled views of Christ the Redeemer, pool, Jacuzzi, wine cellar, home theater and gym among it’s many features.

imagereader.aspxR$ 25.000.000 BRL | Rio de Janiero, Brazil | Bossa Nova Sotheby’s International Realty

This magnificent five-bedroom home features spectacular views, sophisticated design, luxurious comfort, safety and privacy. The spacious living room showcases sweeping oceans views and a vertical garden of unparalleled beauty. Additionally, the home offers five large suites, home office, home theater, family room with dining and gourmet area, a spa with a pool, sauna, and large balconies with captivating ocean views.

imagereader.aspx-2R$ 24.900.000 BRL | Rio de Janiero, Brazil | Bossa Nova Sotheby’s International Realty

Designed by Claudio Bernardes, one of the most renowned Brazilian architects, and elegantly executed by Ana Lucia Juca, this masterpiece home is located in the Jardim Botanico neighborhood. With 30 meters of frontage the house proves inviting with its four living rooms and four decedent suites showcasing inspiring views to the Rodrigo de Freitas lagoon. The master suite has two closets, a bathroom, tub and double cream ivory marbled countertop. The home also offers a fitness room, elevator access, spacious and well-equipped kitchen, social area with a lounge, dining room, bathroom and media room.

See the rest of our “Carry The Torch: Homes Fit for the Summer Games” Series

Significant Sales | Volume I – Issue III

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From an eco-friendly legacy estate in Hawaii to a Mediterranean-inspired home in Texasthis issue of Significant Sales also showcases homes from throughout the United States, South Africa, Mauritius, the St. Barthelemy and Canada.

01. MacArthur$15,700,000 USD | Hawaii, USA | MacArthur Sotheby’s International Realty

What is so far the most expensive residential sale of 2016 on the Big Island of Hawaii, the nearly three-acre, eco- friendly and self-su cient estate known locally as “Luahinewai” is an exclusive Hawaiian legacy estate and one of the most private and remote parcels along the Kona-Kohala coastline. Never previously for sale in its current con guration the property is unique in that it is surrounded by over 4,300 acres of conservation-zoned Kiholo Bay Wilderness Park. The 3,500-square-foot main house was designed by renowned architect Vladimir Ossipo . This eco-friendly estate is entirely o -grid and solar powered; due to conservation zoning, the area will never see further development, allowing its residents to enjoy the views of Maui, Mauna Kea and Kohala mountains, black sand beaches, a private and pristine anchialine ancient pond and breathtaking ocean views for years to come.

03. Dreyfus$13,000,000 USD | California, USA | Dreyfus Sotheby’s International Realty

Built in 2013 by the Wise Building Company, this traditional two-story Hampton’s style clapboard house features hand scraped hardwood floors throughout, a great room with all of the elements of an open family/ kitchen/dining area that looks out to an exceptionally expansive backyard. The lush backyard has a salt-water pool, an in-ground trampoline, a gas fire-pit and a guesthouse with a full kitchen, living/dining room and a full bedroom suite looking out to an outdoor patio.

10. BriggsFreeman$9,800,000 USD | Texas, USA | Briggs Freeman Sotheby’s International Realty

On over two acres of beautifully landscaped grounds, this 1920s masterpiece has been completely renovated and restored to its Mediterranean-inspired splendor. Approximately 6,700-square-feet of living space includes a spectacular living room with 25-foot beamed ceilings, a dining room and adjoining library, kitchen and breakfast room solarium, home gym, luxurious master suite with separate baths, and a incredible 1,500-bottle wine room. Multiple balconies and terraces overlook the manicured grounds with numerous separate gardens. The private terrace off the master bedroom boasts a wood-burning fireplace and exquisite views of the massive salt water pool with Bisazza glass mosaic tiles. Along the banks of Turtle Creek, the covered dining area and outdoor living spaces inspire magical evenings under the stars.

Notable Sales from Around the World

MauritiusRs 28,370,052 MUR | Mauritius | Mauritius Sotheby’s International Realty

Inspired by the latest architectural trends and the modern Mauritian art of living, this beautiful apartment is located in the only residential marina on the island. Facing the peaceful waters, live by the sea on the West coast of Mauritius. With direct access to the surrounding lagoons, this home boasts a generous private terrace that overlooks the natural, lush surroundings. Private mooring, and luxury facilities on the development include restaurants, a spa and an infinity pool. This is the first property sold to an international buyer from Monaco, expanding Mauritius’ notability into a new market.

$11,200,000 CAD | Canada | Sotheby’s International Realty Canada

A stunning estate situated on the most exclusive street of Toronto’s prestigious Bridle Path, 11 High Point Road features the perfect balance of timeless elegance and grandeur. The solid stone residence is approximately 20,000-square-feet on a sprawling and private two-acre property. The estate was featured in the 2004 hit movie Mean Girls, a cult classic, as the home of Regina George and her mother, played by famed actors Amy Poehler and Rachel McAdams.

View the entire issue of Significant Sales