Real Estate Developments

Jade Ocean Building Features Super Luxe Kid's Playroom

by Deidre Woollard (RSS feed) — Mar 9th 2011 at 11:02PM

The Jade Ocean building in Sunny Isles, Florida features the room shown above, what just might be the most luxurious kids playroom ever. The deluxe amenity for condo owners was outfitted by Florida's high-design children's store Genius Jones. The room includes mini versions of Philippe Starck ghost chairs and a mini Alfa Romeo.

It's not all kids stuff at this building though. The 50-story condo tower also has an infinity-edge pool, an ultra chic fitness center/health club with Technogym fitness technology; a resident only beach club with cabanas, and media and community rooms. Public spaces in the building were created in collaboration with Fendi Casa and the building's dramatic entrance features a six story waterfall.

Residences have floor-to-ceiling glass windows and terrace with panoramic views. Kitchens feature glass kitchen cabinets with granite countertops and stainless steel backsplashes as well as Miele and Sub-Zero stainless steel kitchen appliances. The most expensive unit in the building is a five-bedroom penthouse listed at $6.9 million.

Tags: florida real estate, jade ocean, sunny isles

Cuvee Ventures And Cuvee Escapes: Combining Return On Investment And Return On Life

by Susan Kime (RSS feed) — Mar 8th 2011 at 9:01AM

The Cuvée Residence, Lanai

Cuvée Ventures and Cuvée Escapes appears to have lived, since 2005, a well-funded, quiet, under-the-radar yet lively existence within ultra high net worth and wealth management communities.

"One third of our investors are private wealth or money managers. Our rental clients are celebrities, internet and retail executives and sports figures." said Larry Mueller, founder and CEO of Cuvée Ventures and Cuvée Escapes in a recent interview, "they really understand money and investment. But they are also at a place in their lives where they want to enjoy, in addition to substantial ROI (return on investment), what I call ROL -- a return on life investment-- as well."

"My idea to create this high-end, travel community began in 2005, where we could start a fund, create a community of accredited investors, and buy high end properties in cash. We would have great leveraging ability because of this, and after we bought them, either we could enjoy them when we wanted, or rent them out through our other company, Cuvée Escapes. We provide all of the extras -- a concierge on property, private chefs, cleaning services, whatever was wanted and needed by the investor family or the renter. That's the ROL of it!"

Both ideas, as both companies, compliment and supplement each other. Cuvée Ventures is a private equity fund /real estate investment group, whose investors enjoy the $5-8 million Cuvée residences purchased by their fund. When not being used by their investors, Cuvée Escapes also rents the homes, for between $3-8,000 per night.

Unlike the basic destination club model, either equity or non-equity based, Cuvée Ventures is a fund-based equity investment group, and rents the properties it owns, when the investor-families are not using them. It is also, according to Larry, 100% debt-free on its investment in real estate.

A few facts and stats: There have been two funds since 2005 that have purchased exceptional residences -- see next page. The investors pay $750,000 for a 1/2 share investment allowing 15 nights per year, and the full share investment, $1,500,000, allowing for 30 nights per year. The investors may stay at any of the residences available. Each accredited investor owns his or her share of the limited partnership that owns the real estate, so all of the investor money is tied directly to the hard asset. In Fund I, there were 17.5 shares and about 20 investors, and
in Fund II, there were 12 shares and about 14 investors.

Tags: Cuvee Escapes, Cuvee Ventures, high end travel communities, Larry Mueller, private equity fund travel community, second homes, travel communities

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Condos and Apartments at Manhattan's New MiMA Tower

by Deidre Woollard (RSS feed) — Mar 7th 2011 at 11:01PM

Related Companies, the creator of Time Warner Center has announced a new condo and apartment tower in the middle of Manhattan. MiMA, a 63-story mixed-use glass tower features luxury rentals and condominium residences. Rentals are available on floors 7 to 50 and condo residences are offered on floors 51 to 63. The floor-to-ceiling glass windows offer stunning views of Manhattan in all its glory. Each apartment has stainless steel appliances, designer finishes and in-residence washer/dryer.

The building features modern glass exteriors by Arquitectonica, interiors by Rockwell Group, and Frank Gehry-designed theaters. It isn't just pretty, it's a little green, the building is set to exceed LEED Silver certification.

The key selling features is M Club, a mix of health, recreation and entertainment amenities for residents that means you might never have to leave the building to have a good time, get your work done, entertain, or even get your dog groomed. The 44,000-square-foot space has an 18,000 square foot private residents-only fitness center by Equinox with a heated indoor lap pool, boxing room, a full-size basketball and volleyball court, three outdoor terraces with private dining pods and barbecue facilities, party rooms and catering kitchens, outdoor and indoor screening rooms, and an Internet café and business center equipped with iMac computers and a coffee bar. There is also a club room and residents' lounge with a fireplace, game room with billiards and card tables and electronic gaming, and bicycle and resident storage. The urban dog care area, Dog City, is a professionally staffed pet spa with indoor and outdoor play areas offers grooming and training facilities, in-home feeding, walking services, scheduled play dates, and more.

Rentals start at $2,895 per month and studio residences will start at $695,000, one bedrooms at $950,000, and two bedrooms at $1.75 million.

Tags: manhattan real estate, mima, new york apartments, new york condominium, new york real estate

Trump Bids on Patricia Kluge's Virginia Estate

by Carrie N. Culpepper (RSS feed) — Feb 18th 2011 at 6:01PM

trump bids on patricia kluge estate The latest wrinkle in Patricia Kluge's dispursal of fortune involves another famed billionaire: Donald Trump. This Wednesday, Trump had two lawyers representing him at the auction of Albemarle House, Kluge's luxe estate on 300 acres in tony Albemarle County, Va.

Shortly before the auction began, Steve Blaine and Les Goldman announced to the crowd of approximately 60 gathered in front of the Albemarle County Courthouse that they represented Donald Trump. What others might not have realized is that Trump had already purchased the adjacent 200 acres which, because of conditions outlined when Kluge gained the property in her divorce, would grant him right of first refusal on Albemare House.

"I think Mr. Trump wanted others to be aware that he was a bidder and he controlled the front yard of the house," said Baine, a Charlottesville, Va. lawyer. "He's a savvy business person but I think any other person with a serious interest in the house would have tried to figure out how to secure those 200 acres first."

Gallery: Patricia Kluge's Albemarle House

Tags: albemarle county, albemarle house, Charlottesville, Donald Trump, Luxury Real Estate, Patricia Kluge, Patricia Kluge Broke, virginia real estate

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Boom! Will A New Gay Retirement Community Bring Life To Southern California Desert Real Estate?

by Deidre Woollard (RSS feed) — Feb 11th 2011 at 10:01PM

Real estate in Palm Springs, California has taken it on the chin in recent years and some planned projects in the Southern California desert have stalled out. But a new, very ambitious project is betting that Palm Springs, which has always found support from two main groups, retirees and the gay community, can boom by putting those two groups together. Architect Matthias Hollwich, the principal of Hollwich Kushner, has created BOOM, a $250 million development planned for the Palm Springs area. The development will be in Rancho Mirage, the golf community that is also where Larry Ellison's new home, Porcupine Creek, is located.

Fast Company Design reports that Hollwich's firm is one of ten architectural firms including Diller Scofidio + Renfro, Juergen Mayer H., and Lot-Ek who are working on this 100-acre project to be developed by Los Angeles-based Boom Communities, Inc. Each firm was given a piece of the community to design. There will be a total of 300 residences set to break ground in 2012 with a planned second phase that will be at least as large.

Tags: boom, gay community, palm desert, palm springs, rancho mirage, retirement community

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Luxury Real Estate Up For Government Auction In Florida

by Deidre Woollard (RSS feed) — Feb 10th 2011 at 2:01AM

A pair of luxury Florida homes will hit the auction block next month at a US Department of the Treasury auction. The auctions on March 1 and 2 each at the property website. The home being auctioned off on March 1,shown at right, is on Marco island near Naples, Florida. It is a four-bedroom home with two kitchens, a pool and spa. The home has taxes of around $13,200 per year and has approximately 3,900 square feet of living space. A $50,000 cashier's check is required to bid.

The second home is a two-story home in Golden Beach, Florida, a luxury enclave that features some very expensive real estate including Ricky Martin's home. The five-bedroom home is located in a secured community along the intracoastal waterway with the Atlantic Ocean just to the east. This home has a media room, attached garages, pool, dock and more. The 2009 taxes were over $65,000 and this large luxury home with over 7,270 square feet of living space requires a $100,000 cashier's check to bid. Check out the Treasury auction website for more details.

Tags: florida real estate, golden beach, marco island, naples florida, real estate auction

Nashville Condo Project Headed For Foreclosure

by Deidre Woollard (RSS feed) — Feb 10th 2011 at 12:01AM

We've got some foreclosure news out of Tennessee. East Nashville's 5th & Main condominium complex has been slated for a foreclosure sale. Wachovia Bank will auction off the $47 million project on February 25 in front of the Metro Courthouse in Nashville. The commercial section of the building and the residential portion will be auctioned off separately. The project had only sold off nine of its 129 units despite a Hail Mary price chop by a court-appointed receiver in 2009. Units have recently been up for lease. The situation is being termed another fall-out from the real estate slump.

The building has lofts, flats, and townhouses with city views. Amenities include underground parking, a landscaped roof deck with exquisite views of downtown, a community security system with 24-hour monitoring, balconies overlooking the city or courtyard, stainless steel appliances with granite countertops.

Tags: condo foreclosure, condominium, condos in trouble, nashville real estate, tennessee real estate

Of Perception And Promotion: The Creation Of The Mexico Real Estate Coalition

by Susan Kime (RSS feed) — Feb 9th 2011 at 9:01AM

In response to the ongoing safety challenges that have been facing Mexico the past year, many top real estate and resort developers, title companies, banks, and other companies throughout the country, have formed a coalition to specifically promote living and investing in Mexico. More than 30 organizations have formed the MREC (Mexico Real Estate Coalition.) It's the first time a coalition like this has been created to advocate for the potential buyers and retirees interested, but yet hesitant, about buying and living in Mexico. This includes the high end fractional and Private Residence Club buyers as well as luxury and mid-level second home purchasers.

The Mexico Real Estate Coalition includes Juan Diaz Rivera of Capella Pedregal, Eduardo Sanchez Navarro of Grupo Questro, Andres Rosetto of Punta Mita, Jorge Carerra of Querencia, Horst Schulze (founder of the Ritz Carlton) and Christopher Hill, CEO of Stewart Title, Latin America, among others. Together, the group is taking a proactive stance to educate Americans and others on the benefits of living and for some, retiring in Mexico. The coalition also directly addresses perceptions about Mexico being a dangerous country.

"Recently," Juan Diaz Rivera, founder of Capella Pedregal, and Chairman Of The Mexico Real Estate Coalition, told Luxist, "I flew to Tijuana from Cabo to pick up a new car. I had no problem, even though I had accidentally left some important papers in the car. Then, the same day, I drove to Beverly Hills to meet some friends for lunch. I parked in a parking garage downtown. When I returned from lunch, my passport, travel money and other papers had been stolen. It was such an ironic thing to happen to me, as we at MREC always say that bad things happen everywhere, not just Mexico. And here I am, living proof, and in Beverly Hills!"

Tags: Capella Pedregal, Grupo Questro, Juan Diaz Rivera, Live Mexico website, LiveMexico.org, living in Mexico, Mexico, mexico real estate, Mexico real Estate Coalition, MREC, promoting living in Mexico, Punta Mita, Querencia, safety concerns Mexico, second home buying Mexico

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Costas Kondylis' Newest Project, The Continental

by Deidre Woollard (RSS feed) — Feb 9th 2011 at 6:01AM

Rising 53 stories in Manhattan is Costas Kondylis' newest project, The Continental. The 338-unit luxury rental tower is located at 885 Sixth Ave. (corner of 32nd Street) in Manhattan.

One of the core amenities is the Continental Club & Spa which has a 50-foot indoor infinity-edge lap swimming pool with heated hydrotherapy spa, set within a double-height, glass-enclosed atrium and extending onto a sun terrace furnished with lounge chairs. A fitness and cardio center, yoga studio, his-and-hers locker rooms and his-and-hers treatment rooms are also be available to residents. The Club's lounge with a fireplace opens out onto a landscaped terrace with seating and dining areas and there is also a catering kitchen. The space has wifi and also includes a gaming lounge with billiards and LCD displays. For really amazing views, on the 48th floor, there is another sundeck and outdoor terrace lounge. Other amenities include a 24-hour doorman, concierge service, on-site valet services, on-site parking, and bicycle storage.

Apartments have floor-to-ceiling tinted windows, ceilings as high as 10 feet, white oak flooring throughout and Asko washers and dryers in every residence. Kitchens have tile flooring, quartz countertops and high-end stainless steel appliances. Bathrooms include marble vanities and Kohler tubs.

Studio, one-bedroom, one-bedroom with home office, and two-bedroom apartments are available. Monthly rental prices range from approximately $2,550 to more than $6,110. Last month Curbed took a tour and commented on the building's luxe amenities. One of the nicest features seems to be the amenity that nature (sometimes) provides, beautiful bright sunlight streaming through glass windows.

Gallery: Costas Kondylis' Newest Project, The Continental

Tags: costas kondylis, new york, new york apartments, news, The Continental

Fractional Real Estate Offer Delivers Aspen At A Discount

by Deidre Woollard (RSS feed) — Feb 6th 2011 at 8:01AM

Aspen for under six figures? The chic and picturesque Colorado ski town isn't exactly known for its discount real estate, after all, it does proudly wear the nickname Glamour Gulch. The Innsbruck Aspen is making it possible selling a 1/12th deeded fractional ownership in a one-bedroom residence for $89,999. The owners of Innsbruck Aspen are specifically focusing on the Denver market creating an 'unlimited enjoyment' ownership module that makes it possible for these Front Range buyers to get the most out of their property. The package includes additional space available nights at low rates and last minute availability for those who live just a few hours driving distance away.

The Innsbruck Aspen is a small, private residence club of 17 residences constructed in 2007 and located in Aspen's West End. It is situated three blocks from Restaurant Row and four blocks from the lifts on Aspen Mountain. For $89,999, owners will enjoy the single largest turn-key one-bedroom residence in the town, with one bath and a full kitchen. Owners may also rent or exchange their Aspen condo on the Registry Collection, an international exchange platform, trading time for vacations at more than 170 resorts worldwide (we've covered some of their offerings including the Pronghorn Golf Resort in Oregon before).

The Innsbruck Aspen is currently adding a game room and expanding its athletic facility with new state-of-the-art equipment. Owners also have access to a private lounge, which can be reserved for private dinners and events, along with storage facilities, concierge and dedicated rental management services. Check out the gallery below for a look at this property.

Gallery: The Innsbruck Aspen

Tags: aspen, aspen real estate, colorado real estate

Will Farmers Field Bring Football Back To Los Angeles?

by Deidre Woollard (RSS feed) — Feb 1st 2011 at 8:01PM

Los Angeles got one step closer to the dream of having a football team today. Entertainment company AEG has announced that it has signed Farmers Insurance to a 30-year naming-rights deal for a new 68,000-seat football stadium in downtown Los Angeles near the booming L.A. Live complex and the home of the Los Angeles Lakers, the Staples Center, an area that is quickly becoming the new heart of Los Angeles.

The billion-dollar stadium with a retractable roof will be called Farmers Field and Los Angeles citizens have been promised that this new complex won't cost them a thing. The 30-year-deal has been called one of the largest naming-rights contract ever, a reported $650 million dollar deal. Because there is no team in place, while Farmers gets plenty of signage, there's no other media involved in the deal. But the decision paves the way for the long-range dream of having the NFL back in Los Angeles. Los Angeles Mayor Antonio Villaraigosa was on hand at the announcement expressing his excitement that football will be coming back to Los Angeles. Also in attendance was former Laker great Magic Johnson, who sold part of his stake in the Lakers to focus on bringing the NFL back to L.A., a city without a team since 1994. The question of course is which team. There has been talk of having the San Diego Chargers move to Los Angeles. Other teams which could become L.A.'s dream team include the Minnesota Vikings, Carolina Panthers and Jacksonville Jaguars.

Gallery: The Plans For Farmers Field

Tags: farmers field, farmers insurance, l.a. live, los angeles nfl, staples center

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Tiger Woods Dubai Golf Resort Put On Hold

by Deidre Woollard (RSS feed) — Jan 31st 2011 at 11:00PM

We've been talking about the Tiger Woods golf resort project in Dubai since 2006. Back then Tiger's company, Tiger Woods Design, partnered with Tatweer, a member of Dubai Holding, to create an exclusive golf community that was to include Al Ruwaya, a Tiger Woods-designed Golf Course, golf academy; a 60,000-square-foot clubhouse; an 80-suite boutique hotel for VIP guests; 300 luxury villas; 20 mansions and a community retail area. The first completion date for the project was 2009. Then in late 2009, amid the wake of the Woods mistress scandal, the Dubai backers of the project said they were continuing as planned to complete the course, clubhouse, hotel and more. Now Bloomberg reports that the project has been halted. The decision was a result of the current issues facing luxury real estate in Dubai. Dubai Holding did not give any estimate of a time at which the project will be restarted.

The picture above shows the entrance to the Tiger Woods Dubai course. Construction had been started several years ago and six holes were constructed and kept alive on minimum water, populated not with golfers but with grazing camels.Mmeanwhile Woods is set to visit Dubai in February for the Dubai Desert Classic.

There has been a lot of mixed information coming out of Dubai recently. On the one hand we've seen hotels like the new Ritz-Carlton open and the launch of the new world's tallest restaurant atop the Burj Khalifa. On the other hand, real estate projects like Dubai's ambitious World islands real estate development have been put in stasis. At present it looks like tourism is beginning to rise again in the area, perhaps real estate will follow eventually.

Tags: dubai, dubai holding, tiger woods, tiger woods dubai

Next Great Place: A New Travel Experience Network From An Exclusive Resorts Alumnus

by Susan Kime (RSS feed) — Jan 26th 2011 at 8:01AM

Next Great Place residences at Capella Pedregal, Cabo San Lucas

Tom Filippini has both a significant background and pedigree in the high end travel industry, and is a substantial traveler himself. Filippini has visited roughly 50 countries and nearly every state in the US. And, this passion led Filippini to become one of the co-founders of Exclusive Resorts, the world's largest destination club, where he served as Executive Vice President, generating over $750 million in new membership sales. Filippini and fellow Exclusive Resorts alum Erik Mitisek have since left their positions with ER, and have launched Next Great Place, an online travel planning company that streamlines the process of planning and booking unique, complex vacations.

The Next Great Place process begins with travelers submitting a vacation request, detailing information such as destination desired, number of guests, and budget. Next Great Place subsequently submits the request to a vetted group of vendors in the desired destinations. Over the next 48 hours, those suppliers create customized travel proposals that are returned to the traveler who chooses the proposal they like the most, locking in the proposed rates.

"Our vision is to improve the lives of travelers by facilitating their enjoyment of more frequent and better vacations with family and friends," Filippini told Luxist, "Our online travel network will match travelers seeking custom experiences to pre-screened travel suppliers, ultimately creating a more efficient and hassle-free way to plan unique vacations." Next Great Place will target family-oriented accommodations including condo-hotel residences and individual villas with each supplier vetted using the company's proprietary 300-point checklist to ensure the highest quality standards in every destination.

The video below shows the back story of exactly how a luxury residence meets the high, detail-oriented standards of Next Great Place. From thread counts to toilet seats, this video shows how exacting these people are!

Tags: beaver creek, cabo san lucas, Capella Pedregal, destination clubs, Esperanza, Exclusive Resorts, Next Great Place, Tom Filippini, vacation club

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60 Orchard Goes On Sale In New York

by Deidre Woollard (RSS feed) — Jan 26th 2011 at 1:02AM

A boutique condo project on New York City's Lower East Side has opened for sales in preparation for occupancy in April. The seven-unit boutique condominium is in a former storefront located between Grand and Hester streets. The building was designed by New York-based G Ateliers Architecture. The building's new unique glass and steel façade contrasts with the area's brick structures from earlier eras. Each full-floor residence has floor-to-ceiling windows. The two-bedroom, two-bathroom homes each feature a gas fireplace, operable glass "Nanawalls," solid 5-inch oak ebonized flooring, frameless glassed Juliette balconies and private balconies or terraces. Floorplans show residences which have a front public living room/kitchen area with a curved hallway leading down to a pair of bedrooms. The penthouse duplex has multiple landscaped terraces and balconies.

Gallery: 60 Orchard

Tags: condo, condominium, condos, lower east side, new york real estate

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Good News At Calistoga Ranch: Sales Volume Greater Than In Past Two Years Combined.

by Susan Kime (RSS feed) — Jan 25th 2011 at 8:01AM

Usually, even in dark economic times when sales volume for many fractional developments have dropped substantially, there are some steady projects that buck the trend. Last week, good news emerged from Calistoga Ranch, a high end Private Residence Club tucked away in a private canyon in Napa Valley, when it was announced that more sales were closed in 2010 than in the past two years combined. "The stats are great!," said Josh Dempsey, Director of Real Estate, " the purchase price is $475K for a 1/10 interest, our sales volume in 2010 was15 sales at $475K each, equaling $7,125,000 sales total. This is a wonderful sign for Calistoga Ranch, and also for the Private Residence Club industry in general."

I have written about Calistoga Ranch in Luxist early last year, and had noted then its unusual qualities of sanctuary. Some qualities are aesthetic, some practical, but all have to do with the sense of peace derived from being there. I traveled there two years ago, at my own expense, because I had written about Calistoga Ranch before, and wanted to experience the wooded environment, the modular architecture, the Wine Cave, and the Spa -- famous for its mud baths, thermal waters, and peace. And indeed, there were attributes about Calistoga Ranch that I have found nowhere else, so it does not seem surprising that the sales improved, as the economy improved. From my writings about luxury trends in Luxist, high end buyers are attracted by unique properties in elite locations, whose land holds value no matter how the economy turns.

Located in a private canyon on 157 acres just outside the town of Calistoga in Napa Valley, Calistoga Ranch encompasses 48 guest lodges and 23 owner lodges offering overnight accommodations, spa services, and the Lakehouse Restaurant on Lake Lommel. It also features an on-site vineyard and mountain wine cave, where owners and guests can share in the process of winemaking and immerse themselves in the wine culture, so prevalent in the area.

Each guest lodge feels like it is its own camp, modular in design, made from clusters of spaces centering around an outdoor living area and fireplace, just like a campsite. In addition, there are many 100 year old Heritage Oak trees integrated into the terraces and porches of the Lodges, as they are built around the trees. The architect, Scott Lee, designed and placed the over 200 living structures -- the residences, lodges, and other buildings, at Calistoga Ranch -- around the trees so as not to disturb the eco-system already in place..

Tags: Calistoga Ranch, Calistoga Ranch Napa Valley, Private residence Clubs, Private residence Clubs Napa Valley, Sales statistics Calistoga Ranch

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