Luxury Real Estate Headlines: Fourth Week in April 2015

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

2015_04_24_Laguna Beach_CA$75,000,000 USD | Laguna Beach, California |HÔM Sotheby’s International Realty

Laguna Beach Home on Two Peninsulas Is Listing for $75 MillionThe Wall Street Journal

A Duplex on the Upper East Side for $18.5 MillionThe New York Times

In Fairfield, the Builders Are BackThe New York Times

Singer Nick Jonas sells his perch in Hollywood HillsThe Los Angeles Times

Geodesic dome home for sale has history for its former familyNewsday

Knowing the market can give investors an advantageUS News

Home buyers in these markets have the upper handCNN Money

A room-by-room guide to this year’s Sotheby’s Designer ShowhouseArchitectural Digest

Crown Jewels from Sotheby’s “Magnificent Jewels” saleArchitectural Digest

Significant Sales Volume 1 2015

The latest issue of Significant Sales features top sales from around the world beginning with an elegant townhouse in New York. Also featured are panoramic views of the Pacific in California, a snowy penthouse in Aspen and more than twenty other properties from around the globe.

East Side 37m (2)$37,000,000 USD | New York, USA | Sotheby’s International Realty-East Side Manhattan Brokerage

New York - Paul Mellon, heir to one of America’s great banking fortunes, and his wife, Bunny Mellon, built this extraordinarily beautiful 40 foot wide townhouse on a fabled Upper East Side block in 1965. Featured in The World of Interiors magazine, the townhouse, designed in the neo-French classic style and evoking the charm of the French countryside, reflected the passions of its owners. Paul Mellon curated his art collection in the library overlooking the exquisite garden with reflecting pool and gazebo, where Bunny Mellon, designer of the White House Rose Garden and friend to U.S. First Lady Jacqueline Kennedy Onassis, indulged her love of gardening. The high-ceilinged drawing room and dining room lead to a spectacular terrace, the center of celebratory parties. The townhouse has 5-8 bedrooms, with flexibility for guests and staff, eight baths, chef’s kitchen, wine room and elevator. Most rare, however, the house has three exposures, affording brilliant sunlight into some of the most beautiful rooms on the Upper East Side.

East Side 25m (2)$25,000,000 USD | New York, USA | Sotheby’s International Realty-East Side Manhattan Brokerage

New York - Built in 1887 by William Noble, 247 Central Park West is one of the few remaining single family homes on Central Park. Today with 10,745 square feet, this magnificent architectural master- piece juxtaposes historic prewar details with contemporary splendor. The home boasts a 60 foot fresh water pool, Zen-like bamboo garden and a roof deck with sweeping park views.

Bridgehampton 16.5m (1)$16,500,000 USD | New York, USA | Sotheby’s International Realty-East Side Manhattan Brokerage

New York - This rarely available, gated waterfront retreat is on more than three acres in North Haven. It features 200 feet of direct water frontage on Shelter Island Sound, with spectacular open, unobstructed water views across the bay to Mashomack Preserve and beyond.

Vista 15.5m (2)$15,500,000 USD | California, USA | Vista Sotheby’s International Realty

California - Via Visalia not only has a panoramic view of the ocean and city, but sights as far as the eye can see. The home features an orchard with fruit trees and vegetable farm. There is a swimming pool and a tennis court, separate garden and prep area for cutting flowers, as well as a picnic bench on the west side overlooking the Pacific Ocean. The house was designed by renowned Wuesthoff & Pearson, AIA. Each of the finishes from the wood beam ceilings to the vintage iron railings to the Spanish tiles and custom antique doors imported from Mexico were hand-selected by the owner. Most of the home is all on the first floor with picturesque views of Los Angeles and the entire Santa Monica Bay. With the lot measuring approximately 116,305 square feet and with more than 200 feet facing the ocean, it’s the third largest property in Palos Verdes Estates and the largest of its kind available in almost two decades.

ASPEN MTN.jpg$13,200,000 USD | Colorado, USA | Aspen Snowmass Sotheby’s International Realty

Colorado - This brand new, one-of-a-kind, four bedroom, four-and-a-half bath penthouse is located in the heart of downtown Aspen. Features include multiple south-facing decks (one with a giant hot tub), outdoor kitchen and fireplace, private entry and elevator and underground two-car garage. Current land use codes do not allow Penthouses of this magnitude (5,000 square feet) to be constructed in Aspen’s downtown core again. Located one flat block from the Gondola and surrounded by the fabulous shops and restaurants of Aspen. Significant Sales Volume 01 >

The Great Outdoors | Art & Home

The latest edition of Art & Home is here! From thoughtfully landscaped grounds to immaculately manicured gardens, what lies just outside the front door is what makes a house a home, finds Iyna Bort Caruso.

IMG_9061Art & Home—May 2015

Frederick Law Olmsted, the founder of American landscape architecture, sought to channel the “genius of a place” in his projects. He believed every habitat had a spirit of its own and accessing that quality was the most meaningful way to connect with one’s surroundings.

At their best, designed landscapes appear spontaneous – an extension of nature’s best expression. On private estates, these elegant statements go beyond initial visual impressions or curb appeal. Gardens are a full sensory experience of colors, scents and textures. They lure you inside and guide you through multiple spaces that, by turns, can be meditative, enchanting and surprising. “Gardens are very experiential and very ethereal,” says Miami-based landscape architect Raymond Jungles, who has worked throughout the Caribbean and Latin America.

In reinterpreting the environment, designers consider the site, orientation of the sun, climate and architectural style of the residence. Landscapes can also be used to camouflage flaws. For homes that lack strong aesthetic merit, “landscaping can become the dominant design element that allows residences to recede and fade into the environment,” says Jungles.

Gardens are points of personal pride and neighborhood identity. In cities like Charleston, South Carolina, where estates are known for their flourishing azaleas, oleanders, camellias, crepe myrtles and magnolias, “people spend a good deal of time outside on their porches and in their gardens,” says Daniel Ravenel of Sotheby’s International Realty in Charleston. “It’s part of our way of life.”

Even in dense urban settings, rooftop gardens, courtyards and balconies enable residents to feel connected to nature. They soften the city’s hard edges while providing an oasis of calm.

Olmsted well recognized the effect. “Gradually and silently the charm comes over us,” he said on a trip to England in 1850. “We know not exactly where or how.”

Charleston$5,900,000 USD | Charleston, South Carolina |Daniel Ravenel Sotheby’s International

This grand lakefront estate exudes the elegance and grace of an historic English manor. Charming gothic features throughout the home are tastefully and thoughtfully combined with the highest modern technologies to create the ultimate retreat. The expansive grounds are comprised of a unique synergy of lakeside views with sophisticated gardens.

BridgehamptonPrice Upon Request |Bridgehampton, New York |Sotheby’s International Realty – Bridgehampton Brokerage

Combining the elegance of a royal European country estate with the amenities of a five-star resort, Three Ponds Farm offers an unparalleled private residence on nearly 60 picturesque acres. Meticulously designed and executed with the finest imported materials, the eight-bedroom, twelve-bath manor home with guest wing and staff quarters is a tour de force of custom luxury design and contemporary flair by renowned architect Allan Greenberg. The beautiful outdoor oasis includes magnificent formal gardens, a rose garden with orangery and over 7,000 specimen trees.

Las Vegas$28,000,000 USD | Las Vegas, Nevada | Synergy Sotheby’s International Realty

Built to the most exacting standards and exemplifying graceful and symmetrical design, the Rameses Estate took over five years to remodel. This singular property comprises a main residence of over 13,000-square-feet with six bedroom suites and nine bathrooms, as well as a private office, screening room, billiard room, art room and four-car garage. Venturing beyond the picturesque residence, guests find themselves in formal gardens that flow into expansive lawns, private walkways and romantic rose gardens.

Texas$24,500,000 USD | Magnolia, Texas| Kuper Sotheby’s International Realty

With the planting of over 20,000 trees, shrubs and flowers through the years, the spectacular Emerald Lake Estate is a veritable paradise with a resort-like ambience. This meticulously developed estate boasts the private 25-acre Emerald Lake, a world-class bass lake with ten islands, a nine-acre Japanese garden and a seven-acre botanical garden with over 5,000 azaleas, both designed by landscape architect Keiji Asakura.

FrancePrice Upon Request | Côte D’Azur, France | Côte D’Azur Sotheby’s International Realty

On the Golf de Biot, discover this sublime and rare residence designed by architect André Svetchine. This beautiful domain is entirely enclosed, offering exceptional living amidst French gardens, ponds and olive trees. The main property provides spacious living opening onto two terraces; one is covered and overlooks the French gardens while the other overlooks the park.

New York-based writer Iyna Bort Caruso has contributed to The New York Times, The Wall Street Journal and Newsday, among others.

View the digital version of this issue here: Art & Home May 2015

Discover much more in the Art & Home digital edition now on iPad and Android!

iPad - https://itunes.apple.com/us/app/art-home/id962145331

Android - https://play.google.com/store/apps/details?id=com.sothebysrealty.arthomeandroid

Earth Day | Eco-Friendly Homes

On Earth Day we celebrate our planet and demonstrate support for protecting the environment. The homes below reside at the crossroads of luxury real estate and eco-friendliness. With energy efficient systems and the use of all natural materials, these homes exemplify modern elegance and green living. Explore luxury eco-friendly homes.

Canada2 188 000 $ CAD| British Columbia, Canada | Sotheby’s International Realty Canada

British Columbia- One of the unique attributes of this modern luxury beachside house in White Rock is the ideal location which is less than 100 steps to West beach for easy access to seaside shops, restaurants and the pier. The home was built to maximize sea views and uses passive solar design and passive cooling to optimize air circulation and cleanliness. The home was built with the highest-tech solutions and also integrates Feng Shui elements.

Hawaii$3,440,000 USD | Kamuela, Hawaii | MacArthur Sotheby’s International Realty

Hawaii – Designed to be the penultimate fusion of privacy and self-sufficiency, this ocean view oasis is a modern, green escape. The indoor/outdoor kitchen, ocean lanai, and open living space showcase the creative mix of natural materials in wood, glass, bamboo and stone. A 30,000 gallon water tank, private well and 120 VAC photo voltaic system provide all the necessary components to maintain a luxuriously green lifestyle.

CostaRica$1,650,000 USD | Santa Ana, Costa Rica | Costa Rica Sotheby’s International Realty

Costa Rica – Located inside the gated eco-residential community of Villa Real, this Feng Shui designed home is outfitted for those looking for a green experience. Complete with state-of-the-art technology, automatic watering system, and situated for unrivaled vistas, this secure and tranquil property enjoys a deep fusion with the region’s natural elements.

KiawahIsland$2,450,000 USD | Kiawah Island, South Carolina | Daniel Ravenel Sotheby’s International Realty

South Carolina- Built in Indigo Park, Kiawah’s newest eco-friendly development, this home is LEED certified and was designed using the most sustainable building materials and earth friendly building practices. Notable green features include, integrated geothermal heating and cooling, maintenance-free NuCedar exterior shingles with a lifetime warranty, Energy Star appliances, UV reflective aluminum roof, closed cell foam insulation and a 220 watt outlet in the garage which will charge an electric car.

Prestigious Mountain Home in Park City, Utah | Video House Tour

$2,795,000 USD | Park City, Utah | Summit Sotheby’s International Realty

Located in the prestigious Fairway Hills neighborhood of Park Meadows, enjoy gatherings with friends and family in the gourmet kitchen and dining area, and then relax in front of the warmth of an inviting fireplace. Join the Park Meadows Country Club for golf and social club amenities, or take a 10 minute drive to ski at one of Park City’s three World Class ski resorts.

Personal Real Estate | An Investment and a Need

Numerous ultra-high net-worth (UHNW) individuals have utilized real estate as an investment vehicle to increase their wealth, but these properties continue to have a primary purpose: first and foremost, they serve as residences.

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Besides the obvious need to own a property in one’s primary business location, the time spent in other locations, whether for leisure or business purposes, may make the ownership of a secondary residence a practical and financially responsible course of action.

UHNW individuals’ personal and professional considerations, in that order, tend to drive the demand for residential real estate. Residential real estate, while it is known as a long-term safe investment, is almost always purchased because of a specific connection between a UHNW individual and a particular place. For example, many Asian UHNW individuals who buy property in the top real estate markets for investment purposes are either choosing these markets because they are building up their business activities in the region or, increasingly, because their children are going to study abroad. Some of the main cities where UHNW individuals buy residential real estate outside of their home cities are located close to elite universities, financial hubs or often both.

Lifestyle is one of the key motivating factors in the purchase of a luxury home, “ said Wendy Purvey, chief marketing office, Sotheby’s International Realty Affiliates LLC. “Consumers want homes that will meet their unique needs, whether it be a waterfront property, ski in/out access or a vineyard.”

Read more information like this in our Global Luxury Lifestyle Report with Wealth-X >

Luxury Real Estate Headlines: Third Week in April 2015

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

2015_4_17_Denver_Colorado

$1 Million Homes in Washington, D.C., Denver and VermontThe New York Times

House of the Day: A New Jersey Home That Doubles As a ResortThe Wall Street Journal

Asia House of the Day: A Hong Kong High-Rise for EntertainingThe Wall Street Journal

On the Market: A 1773 farmhouse in the Lakes Region in Brookfield, New HampshireArchitectural Digest

On the Market: A glass-walled penthouse designed by Gwathmey Siegel Kaufman Architects in NYCArchitectural Digest

On the Market: A charming Greek Revival farmhouse near Woodstock Village in Pomfret, VermontArchitectural Digest

Guess Where The Hottest Housing Markets Are?CNN Money

Investing in Palm Beach PropertyDujour

Sotheby’s Offering a Rothko Once Owned by Bunny Mellon—The New York Times

A Video of Sotheby’s 2015 Designer ShowhouseArchitectural Digest

Beijing | Market Spotlight

Beijing¥43,000,000 CNY | Beijing, China | Beijing Sotheby’s International Realty

“Since our grand opening in October 2014, Beijing Sotheby’s International Realty has been attracting the attention of leaders in China’s luxury real estate industry. From top developers to leading real estate brokers, the power and global reach of the Sotheby’s International Realty brand is causing a paradigm shift with how homeowners list exclusive properties in Beijing. We are already starting to see increased interest by overseas buyers who see opportunity with the recent weakening of the Chinese economy and depreciation of the Yuan. Most recently, Beijing Sotheby’s International Realty secured exclusive representation for a traditional Courtyard Garden home or Siheyuan (“Four Sided Garden”), the historic symbol of old Beijing. With architectural roots that date back over 1,000 years, these ancient residences are being restored and selling for record prices. This 17,000 square foot historic home is fully updated with modern amenities, beautifully preserved ancient rosewood architecture and situated in the center of Beijing – just blocks from Beijing’s Palace Museum. The seller has listed this treasure exclusively with Beijing Sotheby’s International Realty for $79 million (USD).” – Yu Tao, Senior Manager, Beijing Sotheby’s International Realty

Grand Contemporary Penthouse in Dubai, United Arab Emirates | Video House Tour

28,000,000 AED| Dubai, United Arab Emirates | Dubai Sotheby’s International Realty

A minimalist contemporary designer penthouse located on the top floor of Emirates Crown building in Dubai Marina, this one-of-a-kind residence is a quintessential luxury property. With floor to ceiling windows throughout the penthouse, it was designed with the vistas in mind, as from every point in the home you will experience the utmost exposure of astounding Palm Jumeriah, Dubai Marina, Beach and Desert views. The attention to detail includes imported Swedish timber flooring, full height pivoting doors, Italian crystallized marble throughout the bathrooms, cement structural beams exposed to show architectural design and a video security system.

Magnificent Jewels at Sotheby’s New York

The 21 April sale of Magnificent Jewels in New York is led by a diamond unlike any offered before: an extraordinary 100-carat perfect diamond in a classic Emerald-cut that is estimated to sell for $19–25 million. At this impressive scale, diamonds of this exceptional quality – D color and Internally Flawless clarity – are incredibly rare, and are considered ‘perfect’. What distinguishes the present example within this rarefied league is its beautiful shape: it is the largest perfect diamond with a classic Emerald-cut ever to be offered at auction. The original rough – weighing over 200 carats – was mined by De Beers in southern Africa. The current owner spent over one year studying, cutting and polishing the rough diamond to deliver the spectacular stone.

Emerald Cut Diamond

Also showcased in this sale are pieces from a variety of makers that exemplify the Art Moderne movement. What these pieces have in common is their bold nature, their use of unexpected materials and their allusions to modern society. Art Moderne jewelers were not concerned with the intrinsic value of their work; they felt jewelry should be bold enough to command attention from afar yet personal enough to speak to the wearer of the jewel. Many designers represented in the Magnificent Jewels sale such as Gérard Sandoz, André Rivaud and Jean Després had families rooted in the jewelry industry. Many were also deeply connected to the art world, further fueling their desire and ability to transform jewelry design.

art-moderne-318 Karat Gold Bracelet, Jean Després, France. Estimate $75,000–85,000.

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18 Karat Gold and Lapis Lazuli Bracelet, Cartier, Paris. Estimate $7,000–9,000.

 

art-moderne-1

18 Karat Gold and Coral Brooch, Cartier, Paris. Estimate $25,000–35,000.