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Week’s Top Residential Sale – 11459 Bellagio Rd.

At Aug 05, 2015

la-fi-hotprop-top-real-estate-sales-20150527-p-001

 

The Malibu site where Castle Kashan once stood, the onetime Santa Monica home of screenwriter Larry Levin and a Bel-Air estate with two swimming pools were among the top residential real estate sales in the greater Los Angeles area last week.

$18.5 million — Bel-Air

A European Villa-inspired estate in the 11000 block of Bellagio Road sold for $18.5 million, down $495,000 from the 2014 asking price, but up from the previous sale price of $2.9 million in 1999. Accessed by a winding drive, the 1.67-acre property is highlighted by a five-bedroom main house, a five-bedroom guest/pool house, two swimming pools, a grotto-style spa, a racquetball court and a gym.

Embellished with gilded finishes, hardwood and marble flooring, the main house has a two-story entry, grand formal areas, a chef’s kitchen with aquarium and an elevator. In all, there are 10 bedrooms and 12 bathrooms in 17,340 square feet of space between the main house and guesthouse.

David Kramer of Hilton & Hyland, an affiliate of Christie’s International Real Estate, was the listing agent. Faye Bogari of Bogari Realty represented the buyer in the sale.

$9.7 million — Malibu

Philanthropist and international socialite Lilly Lawrence sold an ocean-view parcel in the 23000 block of Malibu Crest Drive for $9.7 million.

Formerly the site of Castle Kashan, the castle-inspired estate that was destroyed by fire in 2007, the 2.51-acre property originally came to market in 2013 for $16 million and was more recently priced at $10.25 million. The site was marketed with approved plans and permits to build a 15,000-square-foot home with an infinity-edge pool.

Elsa Nelson and David Cilento of Nelson Shelton & Associates was the listing agent. Sandro Dazzan of Coldwell Banker Residential Brokerage represented the buyer in the sale.

$8.4 million — Calabasas

A 10,565-square-foot home in the 25000 block of Prado de La Felicidad sold for $100,000 less than the asking price in about two months and $5.53 million more than what it went for in 2006.

The Tuscan-style estate, built in 2009, has a two-story main house, a detached guest/pool house, a covered loggia with a fireplace and heated patio floors, a pool and spa and rolling lawns on 1.59 acres within the Kardashian-preferred community called the Oaks of Calabasas. Vaulted ceilings with exposed beams, a home theater, a game room and a temperature-controlled wine cellar are among the interior features.

Jordan Cohen of Re/Max Olson & Associates and Joshua Altman of Douglas Elliman were the listing agents. Stephen Kaseno of Ewing & Associates Sotheby’s International Realty represented the buyer.

$7.915 million — Pacific Palisades

A Traditional-style home in the Huntington Palisades neighborhood sold for $7.915 million, up $920,000 from the April listing price of $6.995 million.

Sited on a quarter of an acre in the 700 block of Chapala Drive, the 5,948-square-foot home was built in 2008 and has a double-height entry, a living room with a wet bar and an outdoor entertainer’s spa with a fireplace. French doors off the open-area kitchen/family room lead to a large expanse of grass and a pool with a spa.

Alexandra Brew and Elizabeth Keenan of Coldwell Banker Residential Brokerage shared the listing. Jody Fine of Berkshire Hathaway HomeServices California Properties was the buyer’s agent.

$6.625 million — San Marino

A French-style home on about an acre in the 900 block of San Marino Avenue sold for $6.625 million, down about 5.2% from the January relist price.

Built in 1950, the Huntington Library Gardens estate has parquet flooring, grand formal areas and six chandeliers throughout the 6,611 square feet of living space. Among features is a custom wall aquarium shared by the formal living room and family room. A separate wok room sits adjacent to the main kitchen.

Nancy Liu of Re/Max 2000 Realty and Sabrina Wu of Coldwell Banker Residential Brokerage were the co-listing agents.

$6.25 million — Santa Monica

Director-producer Elfar Adalsteins sold an updated Midcentury Modern-style home in the 600 block of Hightree Road for $300,000 above the April listing price.

Designed by architect Matthew Leizer and recently updated by Mark Mack, the 1960s home was previously owned by screenwriter Larry Levin of “I Love You, Man” (2009) and “Dr. Doolittle” (2001) fame.

Gallery walls flanked by floor-to-ceiling glass feature prominently into the post-and-beam design, which has five bedrooms and five bathrooms in 4,449 square feet of space. A remodeled kitchen with marble countertops and a library room are among the updates.

Kennon Earl and Thomas Davila of Keller Williams Beverly Hills were the listing agents. David Offer of Berkshire Hathaway HomeServices California Properties represented the buyer.

$6.101 million — Westwood

A newly built home on about 11,000 square feet in the 800 block of South Manning Avenue sold for $6.101 million in about two months.

The Spanish-inspired contemporary, designed by Amit Apel Design, has an indoor-outdoor vibe with glass pocket doors, a central courtyard, an outdoor living room and a rooftop deck. A great room with a wall fireplace, formal living and dining areas and a chef’s kitchen highlight the 6,000 square feet of space.

Meir Kroll of the Agency was the listing agent. Vangelis Korasidis of Coldwell Banker Residential Brokerage represented the buyer.

These are the top residential real estate sales reported on the combined L.A./Westside Multiple Listing Service for the period beginning May 17 and ending May 23.

Twitter: @NJLeitereg

Copyright © 2015, Los Angeles Times

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Michael Jackson’s Onetime Neverland Lists for $100 Million

At May 28, 2015

The California ranch once known as Neverland and owned by late pop star Michael Jackson is going on the market for $100 million.

The Los Olivos property, about 40 miles from Santa Barbara, is now called “Sycamore Valley Ranch,” said Suzanne Perkins of Sotheby’s International Realty, who shares the listing with Harry Kolb of Sotheby’s and Jeffrey Hyland of Hilton & Hyland. The amusement park rides are gone, the agents said, as are the orangutans and elephant, though there is currently a llama on the property. The iconic floral clock, which spells out “Neverland,” is still there, and so is the building that once housed the Neverland Valley Fire Department, although it’s no longer staffed by full-time firefighters. But the railroad tracks and train station created at Mr. Jackson’s behest are still there.

The property spans about 2,700 acres and has about 22 structures on it, Ms. Perkins said. The Normandy-style main house, which sits between the property’s two lakes, measures about 12,000 square feet, with six bedrooms plus an attached staff quarters. There’s a four-bedroom guesthouse near the main home and a two-bedroom guesthouse a little farther away. There’s also a swimming pool with a cabana, a barbecue area, basketball court and a tennis court. A 50-seat movie theater has a private viewing balcony, and a stage includes trap doors for magic shows.

Mr. Jackson paid $19.5 million for the ranch in 1987 and lived there more than 15 years. Amid financial struggles, he defaulted on a $24.5 million loan backed by the ranch. Real-estate investment firm Colony Capital bought the note in 2008 for $23 million and put the title into a joint venture it formed with the pop star. Colony spent millions on upgrades, intending to eventually sell it.

Acknowledging Mr. Jackson’s many enthusiastic fans, the listing agents warned they will be doing “extensive prequalification” of potential buyers before showing the property. “Our seller is not encouraging a lot of showings,” Mr. Hyland said. “We’re not going to be giving tours,” Ms. Perkins added.

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Week’s Top Residential Sale – 11459 Bellagio Rd.

At May 28, 2015

Top sales: Two swimming pools are better than one in Bel-Air
Hot Property: Top Sales
A Bel-Air estate with two swimming pools topped this week’s most expensive sales in Los Angeles at $18.5 million. (Marc Angeles)
By NEAL J. LEITEREG contact the reporter Swimming

Bel-Air mansion with two swimming pools leads L.A.’s top sales at $18.5 million
Onetime home of screenwriter Larry Levin sells in Santa Monica for $6.625 million
Site of Malibu’s ‘Castle Kashan’ goes for $9.7 million with plans for 15,000-square-foot new-build
The Malibu site where Castle Kashan once stood, the onetime Santa Monica home of screenwriter Larry Levin and a Bel-Air estate with two swimming pools were among the top residential real estate sales in the greater Los Angeles area last week.

$18.5 million — Bel-Air

A European Villa-inspired estate in the 11000 block of Bellagio Road sold for $18.5 million, down $495,000 from the 2014 asking price, but up from the previous sale price of $2.9 million in 1999. Accessed by a winding drive, the 1.67-acre property is highlighted by a five-bedroom main house, a five-bedroom guest/pool house, two swimming pools, a grotto-style spa, a racquetball court and a gym.

Bel-Air home with two swimming pools sells for $18.5 million
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Bel-Air home with two swimming pools sells for $18.5 million
Unlimited Style Real Estate Photography
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Bel-Air home with two swimming pools sells for $18.5 million
Unlimited Style Real Estate Photography
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Bel-Air home with two swimming pools sells for $18.5 million
Unlimited Style Real Estate Photography
CAPTION
Bel-Air home with two swimming pools sells for $18.5 million
Unlimited Style Real Estate Photography
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Bel-Air home with two swimming pools sells for $18.5 million
Unlimited Style Real Estate Photography
Embellished with gilded finishes, hardwood and marble flooring, the main house has a two-story entry, grand formal areas, a chef’s kitchen with aquarium and an elevator. In all, there are 10 bedrooms and 12 bathrooms in 17,340 square feet of space between the main house and guesthouse.

David Kramer of Hilton & Hyland, an affiliate of Christie’s International Real Estate, was the listing agent. Faye Bogari of Bogari Realty represented the buyer in the sale.

$9.7 million — Malibu

Philanthropist and international socialite Lilly Lawrence sold an ocean-view parcel in the 23000 block of Malibu Crest Drive for $9.7 million.

lRelated Mark Duplass slides into Silver Lake with second-highest-priced sale
HOT PROPERTY
Mark Duplass slides into Silver Lake with second-highest-priced sale
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Formerly the site of Castle Kashan, the castle-inspired estate that was destroyed by fire in 2007, the 2.51-acre property originally came to market in 2013 for $16 million and was more recently priced at $10.25 million. The site was marketed with approved plans and permits to build a 15,000-square-foot home with an infinity-edge pool.

Elsa Nelson and David Cilento of Nelson Shelton & Associates was the listing agent. Sandro Dazzan of Coldwell Banker Residential Brokerage represented the buyer in the sale.

$8.4 million — Calabasas

A 10,565-square-foot home in the 25000 block of Prado de La Felicidad sold for $100,000 less than the asking price in about two months and $5.53 million more than what it went for in 2006.

Hot Property: Calabasas estate sells for $8.4 million
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Hot Property: Calabasas estate sells for $8.4 million
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Hot Property: Calabasas estate sells for $8.4 million
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Hot Property: Calabasas estate sells for $8.4 million
Hayden Luscombe
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Hot Property: Calabasas estate sells for $8.4 million
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The Tuscan-style estate, built in 2009, has a two-story main house, a detached guest/pool house, a covered loggia with a fireplace and heated patio floors, a pool and spa and rolling lawns on 1.59 acres within the Kardashian-preferred community called the Oaks of Calabasas. Vaulted ceilings with exposed beams, a home theater, a game room and a temperature-controlled wine cellar are among the interior features.

Jordan Cohen of Re/Max Olson & Associates and Joshua Altman of Douglas Elliman were the listing agents. Stephen Kaseno of Ewing & Associates Sotheby’s International Realty represented the buyer.

$7.915 million — Pacific Palisades

A Traditional-style home in the Huntington Palisades neighborhood sold for $7.915 million, up $920,000 from the April listing price of $6.995 million.

Sited on a quarter of an acre in the 700 block of Chapala Drive, the 5,948-square-foot home was built in 2008 and has a double-height entry, a living room with a wet bar and an outdoor entertainer’s spa with a fireplace. French doors off the open-area kitchen/family room lead to a large expanse of grass and a pool with a spa.

cComments
John (Imagine no possessions) Lennon’s Florida mansion had two swimming pools, too.
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AT 10:57 AM MAY 29, 2015
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Alexandra Brew and Elizabeth Keenan of Coldwell Banker Residential Brokerage shared the listing. Jody Fine of Berkshire Hathaway HomeServices California Properties was the buyer’s agent.

$6.625 million — San Marino

A French-style home on about an acre in the 900 block of San Marino Avenue sold for $6.625 million, down about 5.2% from the January relist price.

Built in 1950, the Huntington Library Gardens estate has parquet flooring, grand formal areas and six chandeliers throughout the 6,611 square feet of living space. Among features is a custom wall aquarium shared by the formal living room and family room. A separate wok room sits adjacent to the main kitchen.

Nancy Liu of Re/Max 2000 Realty and Sabrina Wu of Coldwell Banker Residential Brokerage were the co-listing agents.

French-style estate in San Marino sells for $6.625 million
The 1950 French-inspired estate in the San Marino’s Huntingon Library Garden district returned to the market in January and sold for $6.625 million. (Susan Pickering)
$6.25 million — Santa Monica

Director-producer Elfar Adalsteins sold an updated Midcentury Modern-style home in the 600 block of Hightree Road for $300,000 above the April listing price.

Designed by architect Matthew Leizer and recently updated by Mark Mack, the 1960s home was previously owned by screenwriter Larry Levin of “I Love You, Man” (2009) and “Dr. Doolittle” (2001) fame.

Gallery walls flanked by floor-to-ceiling glass feature prominently into the post-and-beam design, which has five bedrooms and five bathrooms in 4,449 square feet of space. A remodeled kitchen with marble countertops and a library room are among the updates.
Kennon Earl and Thomas Davila of Keller Williams Beverly Hills were the listing agents. David Offer of Berkshire Hathaway HomeServices California Properties represented the buyer.

$6.101 million — Westwood

A newly built home on about 11,000 square feet in the 800 block of South Manning Avenue sold for $6.101 million in about two months.

The Spanish-inspired contemporary, designed by Amit Apel Design, has an indoor-outdoor vibe with glass pocket doors, a central courtyard, an outdoor living room and a rooftop deck. A great room with a wall fireplace, formal living and dining areas and a chef’s kitchen highlight the 6,000 square feet of space.

Meir Kroll of the Agency was the listing agent. Vangelis Korasidis of Coldwell Banker Residential Brokerage represented the buyer.

These are the top residential real estate sales reported on the combined L.A./Westside Multiple Listing Service for the period beginning May 17 and ending May 23.

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Lessons from the Ultimate Safe Houses

At May 28, 2015

OB-VE553_1101di_P_20121031163458 OB-VE555_1101di_P_20121031163743Lessons from the Ultimate Safe Houses
The hard-core homeowners who fortify themselves against any possible calamity—from hurricanes to nuclear attack—are testing materials and technology that could change home building for the rest of us.
Candace Jackson looks at homes built to withstand every possible type of disastrous scenario imaginable, from storms to earthquakes to wildfires. Photo: Michal Czerwonka for The Wall Street Journal.

By CANDACE JACKSON
Updated Nov. 1, 2012 9:54 p.m. ET

The Corbi family’s house looks like many other modern homes in the Hollywood Hills, with white walls, large glass windows and views of downtown Los Angeles. But it has some key differences from its neighbors. The house has been built to withstand nearly every type of disaster scenario imaginable, from storms to high-magnitude earthquakes to wildfires to pandemic to a rare but potentially crippling high-frequency electromagnetic pulse attack triggered by a nuclear bomb, solar flare or specialized weapon. A wine cellar in the basement doubles as an underground bunker. If all else fails, a rooftop helipad allows for a last-ditch emergency exit.

The Corbi family’s home in Hollywood Hills, Calif., pictured above, has been built to withstand nearly every type of disaster scenario imaginable. MICHAL CZERWONKA FOR THE WALL STREET JOURNAL
Various stills of Pensmore, TF Forming Systems, and Helix technology ENLARGE
Various stills of Pensmore, TF Forming Systems, and Helix technology PENSMORE
More home builders and buyers are chasing a new kind of security: homes equipped to handle everything from hurricanes, tornados and hybrid superstorms like this week’s Sandy, to man-made threats ranging from home invasion to nuclear war. Some, rebuilding in frequently storm-tossed areas, are looking to better withstand the next disaster; others are hoping to create a safeguard against any possible calamity. Fueling the rise of these often-fortresslike homes are new technologies and building materials—which builders say will ultimately be used on a more widespread basis in storm- and earthquake-threatened areas.

Sean Murphy, of Miami-based Coastal Construction, is building a 40,000-square-foot waterfront estate for a client in South Florida that’s designed to withstand a major hurricane or worse. The home’s owner, whom he declined to identify, has ordered 12-inch-thick reinforced concrete walls wrapped in a rubberized material for added waterproofing, clad in 2-inch stone. Typical storm-resistant building techniques call for about 8 inches of concrete composite block to wind- and waterproof a home.
“It’s basically a bunker-style home we’re talking about,” he says. “If you had a major storm, a major flood, a major anything, this home is not going anywhere.”

Some new developments are marketing storm-resistant designs to a growing pool of buyers. Alys Beach is a 158-acre luxury seaside community on Florida’s Gulf Coast. Its homes, which start at $1.6 million, are designed to evoke Bermudan and Guatemalan homes with interior courtyards—and to withstand strong winds. The roofs have two coats of limestone and exterior walls have 8 inches of concrete, reinforced every 32 inches for “bunkerlike” safety, according to marketing materials.

 

In the Midwest, Steve Huff is aiming to build the ultimate tornado-proof home. Mr. Huff, a software entrepreneur, is building a 70,000-square-foot reinforced-concrete, chateau-style home in rural Christian County, Mo. The home, known as Pensmore, has 12-inch-thick walls and ballistic-proof windows that have been tested to withstand the equivalent of a two-by-four board traveling at 40 miles an hour, mimicking the speed at which debris can be hurtled during a big storm. “If a tornado came up, you’d be foolish to leave this house,” Mr. Huff says.

Mr. Huff, who is an investor in a concrete company, says that the home will also be resistant to intruders: “It would be like trying to drill your way through a bank vault.”

When it is completed in early 2014, it will be one of the largest private homes in America. Mr. Huff says he plans to have lots of extended family stay with him, as well as visiting writers, scientists and other students who may want to study the safety and environmentally sustainable technologies used to construct the home.
Mr. Huff says homeowners and builders can apply many of the same techniques on a broader scale to make homes more resistant to natural disasters. For example, helix fibers within the concrete blocks make them slightly bendable like rubber, and better able to withstand impact, with minimal additional cost.
Doug Buck, the governmental-affairs director for the Florida Home Builders Association, says some “extreme” building techniques don’t make financial sense for most homeowners. “You get to a point of diminishing returns,” he says. “You’re going to spend so much that honestly, it would make more sense to let it blow down and rebuild it.”

That doesn’t stop some wealthy homeowners from trying to insulate themselves from every conceivable threat. Chris Pollack, the president of Pollack + Partners, a New York-based design-and-construction adviser that works with wealthy clients, says a client recently hired him to help build a home that came with a dirty-bomb shelter, complete with its own air and water supply. “The family could live pretty comfortably without subjecting themselves to outside air,” he says, including food stockpiles and other provisions. Also growing in popularity: escape tunnels that allow residents to exit to another point on their property or, in urban townhomes, to a nearby building. He estimates that clients are spending on average at least 50% more on security and safety features than they were five years ago.

In Camarillo, Calif., just north of Malibu, Don Boehm built his hillside home to withstand both earthquakes and intruders. It has a complex concrete-and-steel bolting system to keep the retaining walls anchored to a concrete base. A 600-foot-long, 15-foot-high wall surrounds the property. The home is currently on the market for $6.9 million.

Al Corbi, the owner of the Hollywood Hills house and founder of a company called Strategically Armored and Fortified Environments, or SAFE, says he can outfit homes with underground bunkers up to 30 stories below ground. He has designed one bunker in the style of Caesars Palace in Las Vegas, with ceilings painted with clouds to give the impression of being outside, as well as spas and movie theaters and enough provisions to keep families entertained for months of underground living. The cost can be upward of $10 million for the most elaborate facilities.

At the Alys Beach resort, the decor is Bermudan but the exterior walls have 8 inches of concrete, reinforced every 32 inches. ENLARGE
At the Alys Beach resort, the decor is Bermudan but the exterior walls have 8 inches of concrete, reinforced every 32 inches. KERRI PRICE
Mr. Corbi built his own Los Angeles home both for his family and to show potential clients the latest in high-tech, high-end disaster protection and security. Constructed atop 60 steel-caged concrete caissons, each 30 feet deep and 30 inches in diameter, his house is designed to survive a high-magnitude earthquake.

A facial-recognition system, including multiple cameras, has also been placed throughout his house. A James Bond-esque fog system can be activated with the blink of an eye as a way to shock intruders. The fog ranges from a harmless-but-disorienting haze to pepper spray to a noxious gas that can debilitate whoever inhales it for up to 24 hours.

Also inside his home is what Mr. Corbi calls a “safe core,” a 2,000-square-foot, ballistic-proof suite that encompasses the master bedroom and children’s rooms. It was designed to isolate homeowners and minimize contact with intruders, a common feature in his clients’ homes. Mr. Corbi previously put the home on the market for $5.8 million but has since taken it off the market.

Mr. Corbi says many of the techniques he uses can easily be applied to any home. For example, spending a couple hundred dollars to add an extra ¾-inch layer of plywood before adding drywall can make walls significantly more storm- and intrusion-resistant, he says. To safeguard against airborne disease, adding HEPA filters along with a slight excess of airflow from air-conditioning units creates a positive-pressure system where a surplus of air is emitted from a house to prevent outside air from coming in.

The interiors pictured here look ordinary, but they’re designed to withstand a multitude of disasters. ENLARGE
The interiors pictured here look ordinary, but they’re designed to withstand a multitude of disasters. MICHAL CZERWONKA FOR THE WALL STREET JOURNAL
The home’s iPad-controlled security system ENLARGE
The home’s iPad-controlled security system MICHAL CZERWONKA FOR THE WALL STREET JOURNAL
A bird-flu kit ENLARGE
A bird-flu kit MICHAL CZERWONKA FOR THE WALL STREET JOURNAL
Homeowners on a smaller budget—particularly those in disaster-prone areas—are also using more advanced techniques and materials to protect their homes against damage.

Vicki Adjmi of New Orleans lost her home to flooding after the levees broke following Hurricane Katrina in 2005. Though her plans to build a new home in New Orleans’s Lakeview neighborhood were already under way before the storm, she scrapped her original design in favor of a more storm-resistant structure. Her architect brother, Morris Adjmi, decided to raise the midcentury-modern-inspired house by several feet, building on top of a hill several feet above the flood line from Hurricane Katrina.

Her builder, Scott Morse, says many of his New Orleans clients are now elevating their main living spaces—putting kitchens and living rooms on the second floor, and using the first floor for nonessential features like rec rooms—to protect important belongings against flooding. He recommends several different types of roofing strengtheners, including one that doesn’t involve shingles, which can easily fly off during storms.

Ms. Adjmi didn’t want to sacrifice some prized design elements—which included large walls of glass—so she tracked down hurricane-resistant windows from Germany that were designed to withstand 150-mile-per-hour winds. During Hurricane Isaac, earlier this year, Ms. Adjmi said she decided to ride out the storm at home. “I didn’t hear anything,” she says. “We were very insulated.”

Building Inside A Wind Tunnel
These folks destroy houses for a living.

The Insurance Institute for Business and Home Safety, an insurance-industry-sponsored nonprofit group, built a $40 million facility in 2010 in South Carolina to test homes for various threats, including hurricanes, winds and wildfires. The facility, the size of nine basketball courts, can simulate winds up to 135 miles an hour, mimicking a Category 3 hurricane.

Inside the facility’s wind-tunnel hall, engineers can build homes up to 2,400 square feet and two stories high to pummel in stormlike conditions. Tim Reinhold, the chief engineer, says the team is working to replicate hail samples that it has been collecting so it can simulate major hailstorms.

Homeowners who are looking to build their homes beyond their local municipalities’ code requirements can enroll in the institute’s Fortified Home program, which requires building homes about 30% stronger than local codes, sometimes for a discount on insurance rates. Mr. Reinhold says the building costs are generally about 3% to 10% higher.

Bruce Carrell, a Myrtle Beach, S.C., builder, says he started offering the program to his customers about four years ago; now about half of them are building “fortified” homes.

Though his typical homes are more modest in size, he’s currently working on a 30,000-square-foot lakefront house for a client engineered to survive a Category 5 hurricane—the most extreme house he’s ever built.

The estate will appear to be a Mediterranean/European stucco style house from the outside, but the four-story home is constructed entirely of reinforced concrete. “They wanted to take every precaution they could,” Mr. Carrell says.

—Candace Jackson

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Hacienda Palancar in the Sunday Times

At May 27, 2015

Our stunning listing in Mexico, Hacienda Palancar has now been featured in the Sunday Times.

Hacienda Palancar is a unique gem of a property situated in the popular town of Tulum.  In addition to its subtle artistry and deep aesthetic, this Hacienda has great strength of construction and design. The years of planning that went into Hacienda Palancar have resulted in a poetic atmosphere of tranquility, beauty and discreet luxury, as well as a deep a respect for the Reserve in which it exists.

Learn more about this beautiful listing at” http://haciendapalancar.com/

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Biggest Mansion in Los Angeles, will ask $500 Million

At May 26, 2015

One of the biggest homes in U.S. history is rising on a Los Angeles hilltop, and the developer hopes to sell it for a record $500 million.

Nile Niami, a film producer and speculative residential developer, is pouring concrete in L.A.’s Bel Air neighborhood for a compound with a 74,000-square-foot (6,900-square-meter) main residence and three smaller homes, according to city records. The project, which will take at least 20 more months to complete, will exceed 100,000 square feet,including a 5,000-square-foot master bedroom, a 30-car garage and a “Monaco-style casino,” Niami said.

“The house will have almost every amenity available in the world,” he wrote in an e-mail. “The asking price will be $500 million.”

Estates with views of the Los Angeles basin are the California counterpart to Manhattan’spenthouses or London’s Mayfair manors, drawing a global cast of financiers, technology tycoons and celebrities who collect trophy homes like works of art. Around the world, five properties sold for $100 million or more last year, and at least 20 others have nine-figure asking prices, Christie’s International Real Estate reported last month.

The priciest home ever sold was a $221 million London penthouse purchased in 2011, according to Christie’s. The most expensive properties on the market include a $425 million estate in France’s Cote d’Azur, a $400 million penthouse in Monaco and a $365 million London manor.

Whether Niami can get more than double the previous record for his mansion remains to be seen.

“I’m skeptical,” said Jonathan Miller, president of appraiser Miller Samuel Inc. and a Bloomberg View contributor. “My first reaction is laughter. But we’re in this perpetual state of surprise as new thresholds are broken.”

U.S. Records

The current highest U.S. asking price is $195 million for Palazzo di Amore, a Beverly Hills, California, estate being offered by billionaire real estate entrepreneur Jeff Greene. The record for a sale was the $147 million that Barry Rosenstein, managing partner at hedge fund Jana Partners, paid last year for an estate in East Hampton, New York.

BEST BUY EARNS

 

Nile Niami House at 944 Airole Way stands in Bel Air, California, U.S., on Monday, May 18, 2015.
Photographer: David Paul Morris/Bloomberg

 

Niami’s project, on a 4-acre (1.6-hectare) hilltop lot, will have 360-degree views of the Pacific Ocean, Beverly Hills, downtown Los Angeles and the San Fernando Valley. Plans called for removal of almost 40,000 cubic yards (30,600 cubic meters) of earth, the equivalent of an American football field covered by 20 feet (6 meters) of dirt.

“It’s a jaw-dropping property,” Billy Rose, president of Beverly Hills-based brokerage Agency, said in an interview. He isn’t affiliated with Niami. “What he’s looking to build will be the everything house on the premier site in L.A.”

The average price of 37 homes sold in the first quarter in the Bel Air-Holmby Hills area of Los Angeles was $5.29 million, down 27 percent from a year earlier, when there were several “super deals,” according to an Agency report.

Spec Homes

New luxury mansions are proliferating in Los Angeles, often without buyers in place, known as building on spec. Niami, whose production credits include “The Patriot,” a 1998 action movie starring Steven Seagal, last September sold a Los Angeles home to entertainer Sean “Diddy” Combs for $40 million.

That was followed by the December sale of a Beverly Hills spec home for $70 million to Markus Persson, who last year sold his video-game company to Microsoft Corp. for $2.5 billion. In January, hedge-fund manager Steven Cohen closed on a Beverly Hills spec home for more than $30 million.

 

The mansion includes a 45-seat Imax style theater.
Source: McClean Design via Bloomberg

 

Los Angeles luxury homes have ballooned in size in the past 30 years, said Peter McCoy, contractor for a 53,000-square-foot mansion under construction on a Bel Air hilltop visible from Niami’s project.

“We used to think 18,000 or 20,000 square feet was massive,” said McCoy, who became a builder after working as chief of staff for former First Lady Nancy Reagan. “The guys that are doing spec homes, they’re all sitting there hoping to hit a home run. You’ve got to be a big risk-taker, to like building big homes rather than going to Las Vegas.”

Four Pools

Construction costs for Los Angeles luxury homes average $700 to $800 a square foot before finishings and furniture, McCoy said. Niami, who wouldn’t discuss his sources of funding, has plans that call for four swimming pools, including a 180-foot infinity pool, and about 20,000 square feet of grass. That grass will most likely be synthetic, Niami said.

 

The mansion has plans that call for four swimming pools.
Source: McClean Design via Bloomberg

 

There are a “lot of things” in the house that will help to preserve water as California suffers from a record drought, Paul McClean, the mansion’s architect, said in a telephone interview.

“But those are things that correspond with luxury houses, and I can’t tell you that it’s a green and energy-efficient house,” he said.

 

The “jelly fish room” has tanks on three walls and a light-changing ceiling.
Source: McClean Design via Bloomberg

 

McClean, who also designed a 14,000-square-foot spec house down the hill from Niami’s project, is known for creating sleek hillside mansions sold to entertainers and technology executives such as Tyler and Cameron Winklevoss — an enlarged, updated interpretation of the style pioneered by 20th-century Southern California modernist architect Richard Neutra. McClean said he studied commercial buildings such as hotels, museums and art galleries for his latest design.

“It’s very similar to a palace,” he said. “The house is about public functions rather than domestic living.”

Topping Versailles

 

An 8,500-square-foot night club in the under-construction mansion.
Source: McClean Design via Bloomberg

 

Niami’s mansion is set to be the largest built in the U.S. this century, surpassing Versailles, a 90,000-square-foot chateau in Windermere, Florida, under construction for David Siegel, founder and chief executive officer of Westgate Resorts.

Notable residents of Bel Air, which is north of Sunset Boulevard and the University of California, Los Angeles, campus, include Tesla Motors Inc. Chief Executive Officer Elon Musk. President Ronald Reagan lived in Bel Air after leaving the White House, which has a floor area of 55,000 square feet.

A 258-acre Bel Air plot permitted for 18 homes is listed with an asking price of $125 million, according to Aaron Kirman, a John Aaroe Group agent who has the listing for the development land.

“Bel Air is the ultimate trophy,” he said.

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Seventy-Acre Tranquil Oasis Hacienda Palancar Listed for Sale on the Caribbean Coast of Mexico’s Yucatan Peninsula near Tulum

At May 21, 2015

 

LOS ANGELES, May 20, 2015 /PRNewswire/ — Hilton & Hyland’s David Kramer, Trista Rullan, and Rick Hilton recently listed Hacienda Palancar – a romantic Hacienda on the Caribbean coast of Mexico’s mystical Yucatan Peninsula.  This unique gem of a property is only eight miles (13 kilometers) from the renowned town of Tulum in Quintana Roo.

This luxurious family compound is comprised of 13 bedrooms and 16½ baths within 19,000 square feet (1,765 square meters) and is situated upon 70 acres (28 hectares), including over 2,000 feet (655 meters) of incomparable, white sand beach.  The Hacienda stands amidst forest rich in indigenous flora and fauna and glorious landscaping with coco palms, lawns, a pool, and fountains.

In addition to its subtle artistry and deep aesthetic, this Hacienda has exceedingly distinctive strength in construction and design.  Borrowing details from Spanish and Moorish architecture, Palancar offers fabulous miradors that extend the length of the two main buildings to create a perfect venue for dining under the stars.  Exquisite local stone detailing are found throughout the estate, along with the lavish use of Spanish tiles.  The main buildings have exceptional Anglo-Indian antiques and custom built-ins made to order inIndia.

The infrastructure is self-sustaining and built to last.  Palancar has one of the largest arrays of solar panels in private hands in Mexico, aided by state-of-the-art generators when needed. Underground filtration systems, together with rain catchment systems, all ensure plentiful supplies of fresh water.  Sophisticated systems for video conferencing and Wi-Fi are integrated throughout the property, with private reception towers for improved connectivity.  Also included are both satellite television and a state-of-the-art security system featuring 25 cameras for greater privacy.

The site was chosen for its unparalleled location on the pristine Caribbean coast between two unique bodies of water. The warm, azure sea to the east is protected by the second largest barrier reef in the world and the sweet water Capechen Lagoon to the west invites you to relax under your palapa on the private dock or take a boat ride for world class fly fishing.

This incredible, unrivaled paradise is fully furnished.  It is listed for US $30,000,000.

To learn more about Hacienda Palancar, please contact listing agents David Kramer at David@DavidKramer.com or +1 310.770.2879, or Trista Rullan at trista@trista.tv or +1 310.858.5476, or visit www.haciendapalancar.com.

About Hilton & Hyland

Beverly Hills based Hilton & Hyland (hiltonhyland.com) was established in 1993 as a boutique real estate firm to provide extremely personalized service to buyers and sellers of luxury properties. Founders Rick Hilton, grandson of the famous hotel developer, andJeff Hyland, one of the most recognizable figures in Los Angeles real estate, have built their company from the ground up. Hilton & Hyland is the Founding Member of Christie’s International Real Estate and is the exclusive affiliate of Luxury Portfolio, expanding their international reach to over 650 affiliates worldwide.  In the 2014 REAL Trends “The Thousand” annual report, 12 Hilton & Hyland associates ranked in the top 150 agents in the U.S. by sales volume, the highest number of any brokerage in Los Angeles.  With over$2.9 billion in transactions in 2014, Hilton & Hyland is recognized as the top luxury real estate firm in Los Angeles.

Media Contact:
Charles L. Black III
Executive Vice President
Marketing & Strategic Development
Charles@HIltonHyland.com
+1 310.800.6385

 

SOURCE Hilton & Hyland

RELATED LINKS
http://www.hiltonhyland.com

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LA’s five richest tech Billionaries

At May 19, 2015

Here’s How LA’s Five Richest Tech Billionaires Are Living Large

The LA Business Journal‘s annual list of the Wealthiest Angelenos includes a diverse mix of richies made rich by entertainment, finance, and real estate, but there are lots of young new tech faces in the mix, several of whom are celebrating their first years on the list. The Journal says, in fact, that tech is the new Hollywood: “In Los Angeles, a very similar dynamic was seen nearly a century ago with the establishment of Hollywood as the center of the motion picture world.” From Tesla’s Elon Musk to the bros at Snapchat, LA’s rising tech superstars have chosen some very different places to call home—some prefer blocky concrete pads along the coast, others are more interested in ostentatious hilltop spec houses decorated for a modern-day Scarface. We’ve rounded up the residences of a few of the big names off the LABJ‘s list to let them speak for themselves.

↑ Napster founder and first Facebook president Sean Parker (#9 on the list; net worth $5.6 billion) wins all the prizes. Parker bought the absolutely stunning Brody House from Ellen DeGeneres last July for $55 million. Built by the “Modernist dream team” of architect A. Quincy Jones, interior designer Billy Haines, and landscape architect Garrett Eckbo, the house is a livable showpiece.

↑ Tesla Motors CEO and Space X visioneer Elon Musk (#2; $13.9 billion) lives in a Bel Air mansion he paid $17 million for in 2013. Later that same year, he bought the long-time ranch of Blazing Saddles actor/comedian Gene Wilderacross the street too. What’s he going to do with it? Who knows! This is Elon Musk we’re talking about. It’s possible he’s thinking of a way to get it to Mars.

Bobby Murphy (#39; $1.5 billion), the less-talked-about cofounder of sexting app Snapchat, dropped $2.1 million on a beachy Venice residence in 2013. (A freaking steal considering what shacks in Venice are going for these days.) Brushed concrete and a sweet rooftop deck are just a few perks of this house designed by architect Larry Scarpa and artist Randy West—and it’s not too far away from Snapchat’s headquarters, also in Venice.

Screen Shot 2015-05-19 at 2.07.23 PM.png

↑ The more widely known and disliked of Snapchat cofounders, Evan Spiegel(tied at #39; $1.5 billion), has recently relocated out of his father’s Pacific Palisades home into this place in Brentwood, once owned by actress Julia Ormond. The three-bedroom, two-and-a-half-bathroom dwelling dates back to 1928 and underwent a renovation in 2012, while Ormond owned it. She sold it that same year for $2.575 million. Spiegel paid $3.33 million last November.

↑ Minecraft creator Markus “Notch” Persson is not on the list of LA’s richest because apparently he calls his native Sweden home and therefore isn’t really an Angeleno. Regardless, he dropped $70 million—the highest price for a Beverly Hills residence ever— on this completely outrageous spec house with its own candy room and a giant turntable for his cars in the basement. If he were on the list, his net worth of about $1.5 billion would put him right around #39 with the Snapchat boys.

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10 Definitions of Luxury

At May 11, 2015

From the collective insights and experiences of our expert international real estate affiliates, we have crafted a snapshot of luxury home buyer preferences in 2015. This is what luxury is today…

1 | LUXURY IS… SO MUCH MORE THAN LOCATION, LOCATION, LOCATION
Traditionally prominent addresses and prized ZIP codes are no longer the defining baseline concept for luxury homes. HNWIs are expanding the borders of traditional luxury locales, and are willing to pay a premium in emerging luxury areas if the amenities and lifestyle offerings are right. The evolution of high-end commercial real estate is also driving this phenomenon.

– “As certain areas of London become more accepted (The City, Battersea, Vauxhall, White City/Hammersmith, Earls Court, Shoreditch), we are finding domestic and international purchasers more open to areas traditionally outside their comfort zone. This is due to gentrification driven by increased residential development and improved infrastructure.”
Lulu Egerton of Strutt & Parker, London

– “After being priced out of the traditional luxury areas, younger and international affluent buyers have embraced non-traditional areas such as Kowloon Island, where new developments are offering high-quality services and amenities.”
KS Koh of Landscope-Christie’s International Real Estate, Hong Kong

2 | LUXURY IS… CONSCIOUS LIVING
Owning a home that doesn’t negatively impact the community—and one that can even bring positive meaning—is attractive to wealthy buyers. The demand for more sustainable and healthy environments has placed greater emphasis on knowing where and how products are manufactured, and has fueled a trend toward conscious living.

– “The essence of the Cayman Islands lifestyle is derived from the beauty of our water and weather, and from the alignment of sustainable architecture with the natural landscape. In the luxury market, these elements remain a priority for discerning buyers who value creative vision and thoughtful design as a way of enhancing their lifestyle.”
Jackie Doak of Provenance Properties, Grand Cayman, The Cayman Islands

– “Luxury-home buyers are looking for houses that are energy-efficient as well as environmentally conscious in construction and amenities.”
Walt Danley of Walt Danley Realty, Paradise Valley, Arizona

– “Affluent buyers are increasingly looking for close proximity to a vibrant community rich with cultural offerings and outdoor activities, as well as opportunities to volunteer and make a difference.”
Michael Saunders of Michael Saunders & Company, Sarasota, Florida

Bayfront Contemporary Home, Sarasota, Florida
Bayfront Contemporary Home, Sarasota, Florida

3 | LUXURY IS… EXPERIENTIAL
Today’s new wealthy consumers are more informed, more globally exposed, and more sophisticated than previous generations. Baby boomers in particular are now “less materialistic and more experiential,” noted Cognizent in a luxury retail trend study. And HNWIs are being led into the luxury experience by prestige brands such as Christie’s. “The worlds of high-value art, education, travel, luxury goods, and architecture are colliding,” observes Dirk Boll, European Managing Director of Christie’s. “Our focus remains on serving our clients whenever and however they choose to connect with art. Increasingly they are connecting with art in luxury sectors such as architecture and travel, where the enjoyment extends beyond ownership and into experience.” This shift toward experiential luxury is similarly reflected in the amenity and lifestyle preferences of HNW home buyers.

– “Buyers are increasingly seeking to spend money on property features that could be described as ‘experiential’, such as a meditation garden or an outdoor shower.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “When economic imperatives aren’t driving things, there is a quest for meaning and a better life. The choice becomes: How is family life enriched by having access to amenities and lifestyle options that can be experienced every day?”
Ruth Kennedy Sudduth of LandVest, New England

– “In Pebble Beach and Carmel, buyers are looking to harness some of the perceived slower tempo and quality-of-life priorities, especially when they select a property with provenance. It is not that the former owner has to be famous, or even widely known, but rather that the home has a history, a legacy and sense of presence that the new owner can honor as they create their own memories”
Bill Mitchell of Carmel Realty Company, Carmel, California

4 | LUXURY IS… CONVENIENCE
The resurgence of urban downtown cores in many major cities and changing age dynamics are having a significant impact on the home-buying preferences of the world’s most affluent. As millennials grow up and baby boomers transition into life as empty nesters, many larger cities are witnessing a surge of affluent older buyers to urban areas. Residents of suburban areas are also increasingly seeing a preference for urban amenities.

– “Local empty nesters are opting to ‘downsize’ from large single-family homes into generously sized condo and townhome units, with many opting for developments that are within walking distance of offices, shopping, and restaurants.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “We have witnessed a trend of affluent buyers, generally aged 50 and above, selling the house in the greens and moving to town.”
Michael Blaser of Wüst und Wüst, Zurich, Switzerland

– “Many baby boomers are downsizing and wanting to live near town for the convenience. They’re looking to be as close to city/urban living as the suburbs will allow.”
Barbara Cleary of Barbara Cleary’s Realty Guild, New Canaan, Connecticut

– “Lisbon’s property market has been growing, fueled by demand from clients looking for new and modern buildings in the city center.”
Rafael Ascenso of Porta da Frente, Lisbon, Portugal

Magnificent Villa, Lisboa, Portugal
Magnificent Villa, Lisboa, Portugal

5 | LUXURY IS… AGE-AGNOSTIC
Multigenerational travel (trips involving at least three generations) was dubbed the biggest trend for 2014 by a luxury travel industry report. As growth in this type of tourism increases, some prestige real estate markets, particularly those in resort destinations, are seeing increasing demand for luxury homes with spaces that have the flexibility to adapt to generational diversity and entertaining requirements.

– “Wealthy buyers are increasingly focusing on family spaces such as places for adult children or grandchildren and guesthouses for elderly parents.”
Dub Dellis of Walt Danley Associates, Paradise Valley, Arizona

– “We are seeing a trend toward the purchase of upscale apartments in luxury vertical developments that offer multi-functional spaces for flexible entertaining.”
Lucia Cavazos of Gerencia RED in Monterrey, Mexico

– “A wide array of amenities and entertainment for the entire family are increasingly a priority for affluent home buyers. This trend is especially noticeable in young families where homes with amenities for children of all ages has become a must. This has led to a rise in important new developments being built in the outskirts of Bogotá, even within Country Clubs.”
Juan Carlos Corredor Muñoz of Julio Corredor & CIA, Bogota, Colombia

6 | LUXURY IS… ULTIMATE PRIVACY
The age of the smartphone and its pervasive social-media feeds has brought with it an increasing desire for privacy, particularly for high-profile and celebrity buyers of luxury homes.

– “Eye-grabbing street views, which take out-of-town tourists by surprise and which took precedence in the days of Gregory Peck and Greta Garbo, have morphed into a preference for longer-than-ever gated drives, security systems, and being out of the public eye as much as possible. Ostentatiousness has been abandoned in favor of subdued.”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “A key characteristic of many of today’s highest-end listings is ultimate privacy and seclusion. Paparazzi-proof hideaways—such as Donna Karan’s ‘The Sanctuary’ with its private-island feel—are increasingly sought after by security-conscious buyers.”
Katherine Baryluk of Regency International, Turks and Caicos

The Sanctuary, Parrot Cay, Turks & Caicos Islands
The Sanctuary, Parrot Cay, Turks & Caicos Islands

7 | LUXURY IS… COLLECTIBLE
“For today’s wealthy investor, acquiring and holding collectibles is akin to building a store of treasure,” notes a report from Barclay’s Wealth Insights. Trophy real estate is the ultimate collectible treasure. Like buying a prized sports team or high-value artwork, trophy residences can ignite the passions of ultra high-net-worth individuals (UHNWI). Many developers of ultra-luxury properties have baked collectible concepts right into their plans with limited-edition structures and one-off creations by highly regarded international architects and designers.

– “South Florida developers and globally recognized star architects are creating ‘works of art’ within many of Miami’s newest condo buildings. Buyers are being drawn to purchase third, fourth, or fifth homes here in order to own a unit in one of these iconic buildings.”
Ron Shuffield of EWM Realty International, Miami, Florida

– “One-of-a-kind trophy homes are becoming the latest ‘must have’ for the world’s most affluent. Akin to owning a Warhol or a Bugatti, UHNWIs are increasingly seeking to own an architectural collectible, such as one of the 41 residences within the iconic Ten Trinity Square development by London’s River Thames. Discerning buyers see acquisitions of this kind as an opportunity to be a resident of a living piece of art and history.”
Dan Conn, CEO of Christie’s International Real Estate

Ten Trinity Square, London, England
Ten Trinity Square, London, England

8 | LUXURY IS… TURNKEY-READY
Many buyers are willing to pay a premium for the convenience of a “just bring your toothbrush” property, outfitted with top-of-the-line accoutrements that amplify a luxury lifestyle. Brokers reported an increased interest in brand-new residences, with buyers happily paying a premium for security, concierge, and other luxury amenities.

– “The year’s top sale in Beverly Hills was a $70 million ‘spec’ home, purchased with all furnishings and appointments, including an extensive collection of wines in the 2,500-bottle cellar and a fully stocked $200,000 candy wall. Tired of the line ‘just bring your toothbrush,’ the agent even provided eight OralB 3D Braun toothbrushes as part of the deal!”
Jeff Hyland of Hilton & Hyland, Beverly Hills, California

– “Many buyers are more insistent on immaculate condition of houses or apartments. They have little appetite for refurbishment or ‘a project’ and are willing to pay more to be able to move in straight away.”
Lulu Egerton of Strutt & Parker, London

– “Responding to interest from buyers, a number of new ‘turnkey’ homes came onto the market in 2014, an emerging trend in St. Barths.”
Christian Wattiau of Sibarth Real Estate, St. Barths

9 | LUXURY IS… A BLANK CANVAS
At the other end of the spectrum, some enthusiastic buyers are pushing the desire for newness to new heights. Impeded by lack of quality inventory, more and more ultra-affluent buyers wish to build their owntrophy homes from scratch.

– “One of the most interesting trends is that of purchasing a trophy property with an older home and tearing that home down. As the very best lots were some of the first developed in Jackson, we anticipate that trend to continue.”
Julie Faupel of Jackson Hole Real Estate Associates, Wyoming

– “The highest priced sale in 2014 was a $13 million estate. The property is set to be demolished and the owners will rebuild a new mega home.”
Robert Greenwood of Regency International, Turks & Caicos

– “Due to the greatly constricted inventory in our market, we’re seeing significant new and custom construction for buyers who are seeking expansive, one-of-a-kind estates.”
James Bruner of Fenton Lang Bruner & Associates, Jupiter Island, Florida

10 | LUXURY IS… UNDERSTATED
Luxury is no longer about brash displays of wealth, note many experts in our network. Instead, scaled-back, quality-over-quantity luxury will continue to be one of the key tenets behind many prestige property acquisitions.

– “Luxury buyers aim to be more discreet, less ostentatious. There is a trend toward architecture that blends into the topography of the area, not about everything being overtly expensive.”
Justine DeLuce of Chestnut Park Real Estate, Toronto

– “Quality of amenities and lifestyle offerings are becoming more important to affluent buyers than the size of a home.”
Emily Moreland of Moreland Properties, Austin, Texas

– We are witnessing a continuing shift from ostentatious displays of one’s wealth… to a more restrained expression of tasteful understatement.”
Bud Clark of Willis Allen Real Estate, La Jolla, California

Austin, Texas

 

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