MiamiBeach

Rockstar Energy Drink CEO Buys Scott Storch's Foreclosed Home

Filed under: Estates

Over the past couple years we touched on the rise and fall of music producer Scott Storch. His Miami home was eventually foreclosed on as part of his financial meltdown. Now Russ Weiner, the CEO of Rockstar Energy drink has announced that he is the new owner of Villa Ferrari, Storch's former 20,000 square foot home on Palm Island. The mansion has a 100 foot boat dock, 11 bedrooms, 15 bathrooms, 3 guest houses and two pools. Last summer we learned that after Storch declared bankruptcy, SunTrust bank, which held two mortgages worth a combined $7.75 million against the property, bought the property back at auction on for $5.5 million. Storch had bought the home for $10.5 million but it had been listed for $13.9 million. Alex Shay found that SunTrust sold the property to Weiner Russell Trust for $6.75 million. According to Shay the house was, like many homes that have gone through a prolonged foreclosure, not in great shape and that renovation is needed. Still, the price is a bit of a steal for the size and location.

Tags: celebrity real estate, CelebrityRealEstate, miami beach, MiamiBeach, palm island, PalmIsland, rockstar energy, rockstar energy drink, RockstarEnergy, RockstarEnergyDrink, russ weiner, RussWeiner, scott storch, ScottStorch, villa ferrari, VillaFerrari

Gansevoort South Hotel Facing Foreclosure Auction

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Miami's beautiful Gansevoort South hotel is the latest hotel in trouble. The Miami Herald is reporting that Credit Suisse has announced a January 28 auction for the ownership stake that was once used to obtain $89 million mezzanine loan on the hotel. Developers William and Michael Achenbaum got their financing at the top of South Florida's real estate bubble, hoping to make a fortune on condo units. But sales were sluggish for the condos in the residential tower and the Achenbaums decided not to convert some of the hotel rooms into condo-hotel units. Because of the real estate downturn the developers were forced to rely on hotel revenue to pay back their debt at a time when tourism has been experiencing some of its worst numbers ever.

The 334-room oceanfront hotel hasn't been empty. The enviable location and sharp design have attracted a lot of attention. It has been used as a backdrop in the Bravo reality show Miami Social and was reportedly a hot spot during the recent Art Basel Miami Beach show. The hotel remains open and busy as the winter season begins.

The Miami Herald article says that the Achenbaums hope to find a way to buy back the loan at the auction and retain ownership. The $89 million loan was backed by the Achenbaum ownership stake not the Gansevoort property itself so the auction is not a traditional foreclosure proceeding. The hotel also has a separate $314 million mortgage. Any winner in the auction would also have to take on that mortgage.

Before it was the Gansevoort South, the building was the Roney Palace and the adjoining Roney condo complex. That project went through bankruptcy in 2004 and Chicago developer Joseph Chetrit paid about $150 million for the property months after the Chapter 11 filing, eventually selling his company's interest to the Achenbaums after a failed joint venture between the two groups.

Gallery: Gansevoort South

Source

Tags: ganseevort hotel, ganseevort south, GanseevortHotel, GanseevortSouth, hotel, hotel foreclosure, HotelForeclosure, hotels in trouble, HotelsInTrouble, miami beach, MiamiBeach

Art Basel Is Fun Again

by Tom Johansmeyer (RSS feed) —

Filed under: Events, Art

Art Basel was fun again this year. After a recession-stained climate last year led to toned down partying, collectors and dealers (and everyone else) was back in style this time around. According to the Wall Street Journal, it seemed like everyone was throwing a party this year, with the likes of Larry Gagosian and Lance Armstrong getting in on the action. And, the parties didn't suck. Hosts went all out -- with live music and other attractions -- to separate themselves from the competition. Some even tried something new, with the words "Everybody has a Damien Hirst" uttered.

Of course, there were enough celebrities in supply to ensure that every host had one to boast about. Scott Stapp, lead singer of Creed, and Russell Simmons, for example, were present at the Mondrian South Beach Hotel. Simmons is a committed collector of works by Jean-Michel Basquiat and Barbara Krueger and was in town to raise money for his charity, Rush Philanthropic Arts Foundation.

An after-party hosted by Julian Schnabel's art dealer son, Vito, attracted some big names, as well. Peter Brant, an art collector who recently tried to move "Brother Sausage" by Basquiat at auction, was there, along with Abby Rosen.

Yet, there were more intimate dinners and cocktail parties than in past years, according to Art Basel regulars. A few corporate sponsors still made the plunge, including UBS, NetJets and Cartier.

Source

Tags: art, art collecting, art collection, art collector, art dealer, art exhibit, art exhibits, art fair, art show, ArtCollecting, ArtCollection, ArtCollector, ArtDealer, ArtExhibit, ArtExhibits, ArtFair, ArtShow, basquiat, cartier, damien hirst, DamienHirst, jean-michel basquiat, Jean-michelBasquiat, julian schnabel, JulianSchnabel, Lance Armstrong, LanceArmstrong, Larry Gagosian, LarryGagosian, miami, miami beach, MiamiBeach, NetJets, Parties, peter brant, PeterBrant, russell simmons, RussellSimmons, Scott Stapp, ScottStapp, south beach, SouthBeach, ubs, UbsAg

San Marino Island, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Today's estate is as much fun to look at for the art itself as for the home. This home on San Marino island in Miami Beach was built in 1930 but has been glammed up and reinvented. I don't see the word eclectic used in a listing too often but it suits this six-bedroom home. The home is on 13,000 square feet with 80 feet of water frontage and has views of the Miami skyline over its infinity pool, jacuzzi and dock. In addition to having a taste for contemporary art the current owner must have a taste for Bali. The master suite is entirely outfitted in teak from there, giving the room a very exotic feel. This home is listed at $5.495 million.

Gallery: San Marino Island

Source

Tags: estate of the day, EstateOfTheDay, luxury real estate, LuxuryRealEstate, miami beach, MiamiBeach, san marino island, SanMarinoIsland

Continue reading “San Marino Island, Estate of the Day ”

W Hotel Opens In South Beach

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

W Hotels has opened their 31st property, the W South Beach and The Residences at W South Beach in the arts and entertainment district of Miami Beach. The development includes 408 W-branded residences with Ocean Suites, Beach Bungalows, and the Extreme WOW suite (W's version of the Presidential suite). Among the food and drink destinations at the property are Wall, a bar and lounge, Spanish restaurant Solea and the celebrity favorite Mr. Chow. The hotel also bring the popular Bliss spa to Miami.

The $500 million hotel was designed by architect Costas Kondylis. The W's Living Room (aka the lobby) was designed by Anna Busta with artwork from collector Aby Rosen's private collection. The art is showcased in an environment with tufted leather ottomans, velvet curtains in eggplant purple, modern white and gray sofas, armchairs covered in white pony or slate velvet and white pony rugs splashed with gold paint. A 20-foot-high beaded curtain set off by glass walls marks the way into the W Living Room Bar with views of the pool deck and garden. If you book by July 20 the hotel is offering rates from $269 per night for stays July 16 – October 12. The Miami Herald reported earlier this month that the South Beach location has sold out for weekends in July even though the prices are higher than many other hotels in the area.

Source

Tags: florida, miami, miami beach, MiamiBeach, new hotels, NewHotels, south beach, SouthBeach, w hotel, WHotel

Lenny Kravitz Lists His Rock Star Lair in Miami

by Jared Paul Stern (RSS feed) —

Filed under: Decor, Estates

So-hip-it-hurts rock star Lenny Kravitz has just listed his waterfront Miami Beach mansion with an asking price of $2.85 million. The 5,717-sq.-ft. three-bed, three-bath built in 1954 was transformed into a rock star haven decorated in Kravitz's signature retro-futuristic style which has been termed "Bordello Modern". The louche pad (above), which features its own recording studio, was done up as a "sleek, throbbing James Bond-esque den of seduction" according to W magazine, complete with four-inch-thick red shag carpeting, black patent-leather walls, a metal-grill catwalk lit from below, a mirrored white-fur tunnel, red glass doors, red lacquered floors, and a white handstitched padded patent-leather bar. We hear that Kravitz may have revamped some of the more extreme features prior to listing the property for sale.

Kravitz's interior designer Michael Czysz originally spent over $1 million on the décor, and even picked out a silver Ferrari to match the house and designed a special chrome Flying V guitar for the recording studio. Located on guard gated Biscayne Point, the 12,000-sq.-ft. lot features unparalleled open bay vistas. A custom wall of glass opens the massive living area to incredible water views, while the "resort-like" backyard features a pool, spa and boat dock. Kravitz paid $725,000 for the house back in 1996. While Czysz's décor is undeniably over-the-top, hopefully it hasn't been completely dismembered. Meanwhile his lavish NYC apartment, which has been listed as high as $19.5 million, is still on the market, reduced to $14.995 million.

Tags: celebrity, Lenny Kravitz, LennyKravitz, Miami, Miami Beach, MiamiBeach, Michael Czysz, MichaelCzysz, music, rock star, RockStar

Will Gambling Come To Miami Beach?

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

The Fontainebleau Miami Beach hotel is currently finishing up a $500 million renovation but could there be plans for a casino in the venerable Florida hotel? The Miami Herald reports on a recent push to have the Florida constitution amended to allow gambling at the proposed Miami Worldcenter and any hotel in Miami Beach with more than 800 rooms, a restriction that includes only the Fontainebleau. It's a natural leap considering that a Fontainebleau casino in Las Vegas is already under construction.

The new Fontainebleau in Miami Beach is set to open next month and follows the inclusive hotel paradigm of Las Vegas Strip hotels with 11 restaurants and bars, ample meeting space, 1,500 guest rooms, and a 40,000-square-foot spa. The developers have said that their plains for the Miami Beach hotel did not include casinos. The push for gambling in Miami comes from Miami developer who wants to put a casino in a commercial complex planned for the downtown area. But many feel that the Fontainebleau is the natural place for a casino in Miami Beach, it has the size and prestige to embrace gambling in a way that would add to the resort. And it could also bring a much needed infusion of cash to the South Florida resort economy.

Source

Tags: casino, fontainebleau, gambling, miami beach, MiamiBeach

Apogee Penthouse, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Florida real estate may be precarious but that hasn't stopped the rise of luxury condo penthouses. Today's home is the palatial penthouse A at the top of the Apogee building in Miami Beach. The penthouse is 6,853 square feet of interior square feet spread out over three levels with six bedrooms and 7.5 bathrooms. The interior is mostly raw space with double-height windows and 22-foot celings but the exterior space is what really dazzles. It has more than 11,000 square feet of terrace space with a 360-degree rooftop palazzo, private pool, and summer kitchen. The views are outstanding from just about every angle. The penthouse comes with an elevator, 2.5-car private air-conditioned garage, staff quarters, and other luxury amenities. It is listed at $22 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

[Thanks, Don!]

Gallery: Apogee Penthouse

Source

Tags: apogee, estate of the day, EstateOfTheDay, miami beach, MiamiBeach, penthouse

Continue reading “Apogee Penthouse, Estate of the Day”

La Gorce Island, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Today' estate in Miami Beach, Florida (thanks, designer) was once home to Cher and has also served as a temporary residence for Janet Jackson and Julio Iglesias. Cher bought the property in 1993 for $1.5 million and rebuilt it. She sold in 1996 for $4.35 million to Barry Schwartz, former chairman and CEO of Calvin Klein who sold to real estate developer Todd Glaser and investment partner Armin Mattli, president of Clinique La Prairie, the Swiss spa/hotel/medical center ten years later. The property was completely redone and then rented to Janet Jackson last year for $85,000 a month, followed by Julio Iglesias and then Douglas Cramer, executive producer of the TV series Dynasty. The home which once featured in Architectural Digest, has six bedrooms, cabana and gym, two-car garage and dock.Details include a large inner courtyards, archways, rosette windows, keystone columns, a two-story living room, formal dining and large media rooms and a lap pool. The kitchen has double sub-zero stainless steel refrigerators, Traulsen wine cooler, huge white marble island and Wolf gas stove, also opens to wide covered terrace. The master suite has a walk-in closet, private covered terrace overlooking pool and wide views, and a 3rd story living room with large covered terrace overlooking water. This home is listed at $14.9 million which seems a bit ambitious for the current market even though it is a beautiful home.

[via Miami Herald]

Gallery: La Gorce Circle

Source

Tags: cher, estate of the day, florida, julio iglesias, JulioIglesias, miami beach, MiamiBeach

Continue reading “La Gorce Island, Estate of the Day”

North Bay Road, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

This one confounds me. We start with a prestigious location, North Bay Road in Miami Beach, the same place where Hulk Hogan recently sold another white contemporary house to director Michael Bay. From the outside this looks like a your standard contemporary with boxy lines and a sleek little glassed-in sunroom space. The outdoors check out fine, a small piece of land certainly but with a nice pool and a private wood dock with charming old-fashioned style lights. But then, let's take a look inside this six-bedroom home. It's kitsched-out within an inch of its life. The gilding, the elaborate moldings and fireplace mantles, the heavy draperies and chandeliers all create a space that is positively Liberacesque. No pictures of the bedrooms in the listing which is a shame because if the public spaces are this baroque, I can't even begin to imagine what the private spaces are like. This rescue mission is listed at $5.95 million. I hope someone picks up this house and restores its modern soul.

Source

Tags: estate of the day, florida, luxury real estate, miami beach, MiamiBeach

Continue reading “North Bay Road, Estate of the Day”

Murano Grande Penthouse, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

This one is for the design junkies. This five-bedroom penthouse in the Murano Grande building in Miami Beach not only has open views of sea and skyline it also has an amazing interior design that is more than just Miami white. The design was created by Xpasio featuring Rene Gonzalez as architect and CDC builders. Details include custom design teak walls and floors, even the media room has teak built-ins and a sea grass inlaid carpet. The overall effect is calm and warm in subtle grays and earth tones. Given the current real estate market is $9.5 million a lot to ask for a 6,000-square-foot penthouse?

Gallery: Murano Grande Penthouse

Source

Tags: condo, condominium, estate of the day, florida, miami beach, MiamiBeach, murano grande, real estate

Continue reading “Murano Grande Penthouse, Estate of the Day”

Miami Beach, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

The seven-bedroom home in Miami Beach offers a feature I have never seen before, a putting green with an ocean view. This is often where homes in the area put the pool but instead you can find the pool up a few floors on the roof. This Miami Beach contemporary sits on a whisper of land (under a quarter acre) but has over 7,000 feet of interior space.The new home has marble and wood floors, a formal dining, waterfront kitchen with morning niche, family and media rooms, guest and staff quarters. The large master suite has a private terrace. This home is listed at $7.95 million.

Gallery: Venetian Way, Miami Beach