Real estate

Russian Billionaire Andrey Melnichenko Buys $12 Million Central Park Pad

Russian billionaire Andrey Melnichenko, owner of the eye-popping $300 million megayacht 'A' (above) designed by Philippe Starck, has splashed out $12.2 million on a penthouse pied-à-terre in Central Park. It's the first New York property for Melnichenko, at 38 one of the world's youngest billionaires, and his model wife Aleksandra, the Wall St. Journal reports, added to a real estate portfolio that includes apartments and estates in Moscow, France and the U.K. The 2,800-sq.-ft., two-bedroom duplex has two balconies, a terrace facing Central Park, and an entrance gallery with 24-foot ceilings. As we reported back in January Melnichenko, who amassed a $4.4 billion fortune in fertilizer and banking, entertained Martha Stewart, Demi Moore and Aston Kutcher on his yacht in St. Barth's over New Year's during Roman Abramovich's bash.

Tags: Andrey Melnichenko, billionaire, Central Park, mega+yacht, megayacht, New York, oligarch, penthouse, Philippe Starck, real estate, Roman Abramovich, Russia, Russian billionaires, superyacht, wealth, yacht

CNBC Profiles The Country's Wildest Homes

by Deidre Woollard (RSS feed) —

Filed under: Estates

Off the grid or off the wall, there's a lot of wacky real estate out there. CNBC and TopTenRealEstateDeals.com have come up with a list called The Top 10 Weird but Wonderful Homes. Their slide show reveals both grand castles and more rustic earthships and dome homes. Some are pricey, some are humble, some are off the grid but all are designed to garner a "wow." Check out the slideshow here.

Tags: estates, real estate

BeautifulPlaces Adds Nantucket's Harborview Place to Luxury Portfolio

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Travel & Hotels

BeautifulPlaces, the international luxury villa hospitality and experiential travel company, is now exclusively representing Harborview Place, an enclave of prime real estate on Nantucket. "We are pleased to welcome Harborview Place into the BeautifulPlaces villa rental portfolio," says Patrick Smith, CEO and co-founder of BeautifulPlaces. "Nantucket was high on our guests' request list with its unique combination of historical significance, old world charm, exclusivity and modern luxury." Located on the waterfront just two blocks from Main Street and Straight Wharf and adjacent to a secluded beach, Harborview Place consists of ten private waterfront residences (above) which include five-star 'on island' amenities plus a dedicated concierge to see to guests' every need prior to their arrival and during their stay, including complimentary airport and ferry transfers, beach and boat services, spa appointments, and afternoon teas and events plus custom travel itineraries. Each of the traditionally-styled one – three bedroom residences in the compound has a distinctive personalized décor including top of the line kitchens and bathrooms, plasma TVs, wireless internet, iPod docking stations and more.

Tags: BeautifulPlaces, Harborview Place, luxury travel, Massachusetts, Nantucket, real estate, travel, villa

The Classicist: Inside the Embassies & Historic Mansions of Paris

by Jared Paul Stern (RSS feed) —

Filed under: Decor, Estates, Books, The Classicist, Wealth, Architecture & Design

Very rarely do any of Paris' remaining private palaces come on the market; when they do the properties invariably rank among the world's most expensive, such as the 1912 mansion built for the Duchesse de Montmorency recently listed at $140 million that we told you about back in November. The reason there is so little movement among these magnificent monuments to wealth lining the famed city's storied avenues is that most are occupied as embassies and ambassadorial residences. An equally magnificent new book, Historic Houses of Paris: Residences of the Ambassadors from Flammarion by Alain Stella with photography by Francis Hammond offers a guided tour of 22 of these amazing edifices, some seen for the first time, most originally built for members of the aristocracy and now the setting for lavish diplomatic entertainments and intrigues.

Gilded halls, formal sitting rooms, stately dining rooms, paneled libraries, perfectly landscaped gardens, chambers filled with rare antiques, luxurious wallcoverings and private living quarters are all examined in delectable detail, in mansions ranging from a 17th-century hôtel particulier to a Belle Epoque palace and even a couple more contemporary examples, now occupied by the ambassadors of the United States, the United Kingdom, Russia, Germany, China, India and more. The cover (above) depicts the Sicilian theater of the incredible Italian Ambassador 's residence, aka the Hotel de la Rochefoucauld-Doudeauville, built in 1732. Some, like the Indian Ambassador's residence, aka the Hotel de Marlborough built in 1910 by architect René Sergent, who also designed Claridge's in London and Rome's Grand Hotel, are named for famous former owners; in this case the Duchess of Marlborough, aka Consuelo Vanderbilt, one of the world's richest and most beautiful women at the time.

Gallery: Historic Houses of Paris

Hotel d'Avaray (Kingdom of the Netherlands)

Tags: antiques, architecture, aristocrats, Belle Epoque, books, coffee table books, decor, embassy, estates, France, historic houses, mansion, Paris, politics, real estate, wealth

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11 Biggest Luxury Home Price Drops 2010

by Ann Brenoff (RSS feed) —

Filed under: Estates

Some believe that the Great Recession hasn't been an equal opportunity devastater. While we can all agree that it has shot a cannonball through what was once the middle class, not everyone thinks that the uber-rich have experienced their fair share of the misery. Here are some examples that might prove otherwise.

1) Albemarle House, an elegant mansion located in Virginia's Blud Ridge Mountains, came on the market in 2009 at $100 million. In a blink, the price was slashed to $48 million and now it sits listed at $24 million -- a $76 million or 76% price cut. Think that didn't hurt?

The home is near Thomas Jefferson's Monticello and James Monroe's Ash Lawn-Highland. The 25,000-square-foot main house has 45 rooms and includes a theater, card room, library, and Islamic gallery that features an antique Syrian fountain. There is a pool, pool house, log cabin, greenhouse and a number of staff cottages. The grounds are large enough to install an 18-hold golf course -- which Arnold Palmer has already conveniently designed.

Sotheby's has already auctioned off the artwork and furniture, bringing in $15.2 million and the owner's jewelry fetched another $5 million.

Who are the poor souls behind this financial disintegration?
Patricia Kluge and her husband Bill Moses opened the 907-acre Kluge Estate Winery and Vineyards in 1999. Expansion plans -- and the loans that came with them -- appear to have been their Achilles' Heel. That and the recession, of course. The bank that foreclosed on the business last fall wasn't interested in producing wines and instead sold off the pieces.

Michael Rankin, Sotheby's International Realty, has the listing.

Gallery: Albemarle

Tags: albemarle house, biggest price drops, flying dog ranch, pecos river ranch, real estate, sloane mansion, val kilmer, villa colina

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Europe's Richest Man Building Scotland's Most Expensive Mansion

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Wealth

Indian steel magnate Lakshmi Mittal is building the most expensive mansion ever erected in Scotland, next to the famed Gleneagles golf resort in Auchterarder, Perthshire. The London-based tycoon, Europe's richest man and the fifth richest man in the world with a fortune of $28.7 billion, is spending a record $23 million on the posh estate, including the $6 million mansion he tore down to make way for his new luxury fortress. His lavish private palace in London is reckoned to be the city's most expensive as well. Costs on the Perthshire project soared after Mittal decided some of the finished weren't up to standard, Scotland's Daily Record reports.

At one point he demanded a $125,000 bathroom be torn out and done over. "We are all very aware that Lakshmi Mittal has bought the property and he has been very particular about the specifications," one neighbor told the paper. "He has flown in several times and I have spoken to his wife, who seemed very down to earth. I get the impression she is more likely to use the facilities up here than her husband. I think their priority is getting it perfect." The six-bedroom main residence will have furnishings by Ralph Lauren, a state-of-the-art entertainment system, two kitchens and staff quarters among other amenities.

Tags: billionaire, estates, Europe, Gleneagles, India, Lakshmi Mittal, London, mansion, Perthshire, real estate, Scotland, UK, wealth, worlds most expensive

Brokers Stiffed on Sale of Duke-Semans Mansion to World's Richest Man

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Wealth

It seems there was something a bit dodgy about the record $44 million sale of the famed Duke-Semans mansion (above) in New York City to Carlos Slim, the world's richest man, which we wrote about back in July. According to a lawsuit filed by the real estate brokers who had the listing on the palatial residence, former owner Tamir Sapir stiffed them out of nearly $1 million in commission by reneging on a prior agreement to sell the place to a different buyer for $37 million. Since Sapir, a cab driver-turned-fertilizer king, did the deal with Slim directly he ended up paying no brokerage fee, the New York Times reports, noting that the parties have just reached a settlement in the dispute for an undisclosed amount. Sapir bought the historic seven-story Beaux Arts mansion located across from the Metropolitan Museum of Art from relatives of Doris Duke for $40 million in 2006. When Slim took possession the 20,000-square-foot mansion, built in 1901, it had a doctor's office in the basement, a five-story main residence, a penthouse duplex on top, 12 bedrooms, 14 bathrooms, and 11 wood-burning fireplaces.

Tags: Carlos Slim, Duke-Semans mansion, estates, mansion, New York City, real estate, Tamir Sapir, wealth

Indoor Polo, Anyone? Incredible Brazilian Equestrian Estate Listed at $17.5 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Sports

An incredible equestrian estate outside of Sao Paolo in Brazil featuring the only indoor sand polo field in Latin America has been listed for sale via global online luxury marketplace JamesList for about $17.5 million. The eye-popping property occupies 59 acres and includes 20 stables to house your precious thoroughbred horses, 18 paddocks and a professional grade outdoor polo field as well. The stunning 17,000-sq-.ft. Spanish Colonial main residence has six luxurious suites, refined living and dining areas, three grand fireplaces, an office, library, outdoor kitchen, terrace with panoramic view of the polo field, an inground pool with a swim-up bar also overlooking the polo grounds, and tennis / basketball courts. The lush grounds feature towering palms, tropical flowers and rolling lawns. Check out the gallery for a preview.

Gallery: Sao Paolo Equestrian Estate

Tags: Brazil, equestrian, estates, horses, JamesList, Latin America, luxury real estate, polo, real estate, South America

Major Real Estate Auction Planned For Hawaii

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

A major auction was announced recently for 11 premier condominium homes and three oceanview homesites located on the Hawaiian island of Lana'i, owned by Castle & Cooke, David H. Murdock's real estate company (who also happens to be the owner of Dole Food Co., Inc.). Lana'i is home to many high-end developments and these properties are located across four private ones. The sale will be held on January 16 at a Southern California location and opening bids will range from $435,000 to $845,000, which are up to 68 percent below previous asking prices.

Accelerated Marketing Partners (AMP) will conduct the auction for the homes which represent more than $20.5 million worth of real estate. The residences and homesites being offered at the January 16 sale are located within private Lana'i developments in Oceanside Manele and Upcountry Ko'ele. Each area offers attractions, ranging from scuba diving and whale watching, to horseback riding, a world-class sporting clay venue and archery. All homes are available for immediate occupancy.

Tags: hawaii, hawaii real estate, hawaii real estate auction, real estate, real estate auction

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Historic 355 Acre Caribbean Property for Sale at $15 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates

Last month we wrote about some of the Caribbean's most exclusive escapes. Want to create your own private refuge in paradise? Manatee Peninsula (above), a picturesque and historic 355-acre property in the Dominican Republic with 4.4 miles of pristine beachfront is being offered for sale at $15 million – $6 Million below a 2008 bank estimate. Named the Manatee Peninsula due to the extensive lagoon filled with playful, gentle manatees, the property has an interesting history: Christopher Columbus discovered the peninsula on his second trip to the New World in 1493 and anchored his boats in the lagoon. The property is minutes from Columbus' original settlement, La Isabela, considered the first formal European settlement in the New World and now a National Park. The undeveloped parcel is protected a 10,000 foot mountain range to the southeast that acts as a natural hurricane shield, making it an ideal haven for yachts as well.

Gallery: Manatee Peninsula

Tags: beach, Caribbean, Christopher Columbus, Dominican Republic, ocean, property, real estate

Eight Cornwall Terrace Mansions Offered for $625 Million in London

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Real Estate Developments, Wealth, Architecture & Design

Last month we broke the news that the first estates in one of London's most impressive landmark properties, Cornwall Terrace (above), were being offered for sale starting at $65 million via Christie's Great Estates. Now the London Daily Mail has followed up with a report that the total value of the eight double-fronted mansions contained in the newly-renovated Terrace is about $625 million, making it the world's most expensive row of houses. The largest of the residences at 14,000-sq.-ft. is expected to fetch around $100 million alone; however some enterprising Russian oligarch could step in and snap up the whole lot and transform it into the ultimate private palace. Sited within a peerless location overlooking Regent's Park, Cornwall Terrace is described as a "rare convergence of provenance, history, and grandeur."

The Grade I listed Regency terrace was designed in the early 19th Century by royal architect John Nash and was home to members of the nobility for nearly 150 years. Incredible architectural details such as paneling, moldings, marble floors and fireplaces are enhanced by state-of-the-art amenities such as a silent hydraulic lift, multiroom iPad-controllable audio-visual and lighting systems, and comprehensive security systems. Each of the eight estates is being offered completely furnished including unique works of art and bespoke furniture, each designed by a famous decorator. Each property also comes with its own staff accommodation, and residents will enjoy a range of recreational options including on-site spas and gymnasiums, Bentley-sized garages, and a personal sommelier service.

Gallery: Cornwall Terrace

Tags: architecture, Christies, Cornwall Terrace, estates, London, mansion, real estate, UK

Las Vegas Strip Land Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Auctions, Real Estate Developments

How much is Las Vegas land worth these days? The market will get a new test when a 1.36-acre property with 236 feet of frontage on Las Vegas Boulevard goes up for sale through J. P. King Auction Company. The property is located just north of the famous "Welcome to Fabulous Las Vegas" sign and is offered through a sealed-bid auction. The property is currently home to the 48-room Diamond Inn Hotel which was constructed in 1940. The site is the first hotel/casino seen from I-15 and has been approved by the FFA for buildable heights of 406 feet to 505 feet. The only question is whether or not anyone is interested in building in Las Vegas right now. Of course you could just keep the existing property as is.

"One of the great things about this site is that not only is it an excellent development site, but it is also already producing income," said Sam Aldabbagh, the property's owner. Aldabbagh purchased the hotel in 1978 and it is marked by a large pink elephant facing the strip. Sealed bids for the property must be submitted by 5 p.m. on Monday, December 13.

Gallery: Las Vegas Strip Land For Sale

Tags: j.p. king, jp king, las vegas, las vegas strip, real estate

The Classicist: Los Angeles' Finest Classic Estates

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Books, The Classicist, Architecture & Design

With asking prices running to the tens of millions on the rare occasions when such treasures hit the market, owning one of the classic estates of Los Angeles remains but a dream for many. Meanwhile Douglas Woods offers the next best thing in his new stunning new book Classic Homes of Los Angeles from Rizzoli, an exclusive look into some of the finest period revival residences and gardens to be found in and around the area's legendary neighborhoods. The volume's 240 full-color photographs by Melba Levick depict a panorama of richly detailed architectural styles popular in Southern California during its "Golden Age of Expansion" from 1899 to 1938, from Craftsman, Tudor, Georgian and Victorian to Spanish Colonial and Tuscan Revival. Famous landmarks are included as well as many never-before-seen gems.

The cover of the book (above) shows the Prindle House in Pasadena built by architect George Washington Smith in 1926, a pristine example of Spanish Colonial Revival style. Also included are the 1899 Doheny Mansion with its incredible glass-domed Pompeian Room, now part of Mount Saint Mary's College; the stately Huntington Mansion with its palatial great hall, now the Huntington Library museum; the estate of the great Hollywood producer and director Cecil B. DeMille which was recently listed for sale at $18 million; the elegant 1932 Fudger House in Beverly Hills where Danny Kaye lived and entertained for many years; and Frank Lloyd Wright's famed Millard House, aka La Miniatura, from 1923 in Pasadena which was our Estate of the Day in February 2009.

In his introduction to the book, author and architecture expert D.J. Waldie poses the question, "What makes a classic home of Los Angeles?" The answer, he writes, is one that "sympathetically embraces the fundamentals of life here: light, air, landscape and romance." To achieve these qualities, "architects and their clients in the first half of the twentieth century turned to various pasts that were not their own," he notes, "but without turning away from the future they thought Los Angeles represented." For the most part, Waldie writes, "they declined to engage in the culture wars of Modernism (although many great Modernist homes are part of the city's architectural heritage). Some Angeleños thought houses had other, more consoling work to do. A house that can dream for and with its owners, that can dream of both escape and shelter, makes it a classic of Los Angeles." Check out the gallery for a preview.

Gallery: Classic Homes of Los Angeles

Petitfils-Boos House, Hancock Park, 1921

Tags: architecture, Beverly Hills, books, California, Cecil B. DeMille, celebrity real estate, coffee table books, Doheny Mansion, estates, Frank Lloyd Wright, gardens, historic houses, Huntington Library, Los Angeles, movies, Pasadena, real estate, Rizzoli, Southern California, The Classicist

Connecticut's Poshest Private Landscapes

by Jared Paul Stern (RSS feed) —

Filed under: Decor, Estates, Green, Books

Twenty-eight of Connecticut's most entrancing private landscapes are featured in a beautiful new book from Monacelli Press. Private Gardens of Connecticut offers a privileged glimpse at the personal oases at the estates of designer Oscar de la Renta, socialite Anne Bass, decorator Bunny Williams and many more. Included are gardens from all across the state, from Greenwich to New Canaan and the coast, many of which have never been professionally photographed. A variety of styles is represented from formal to small, contemporary, wild, and old fashioned. Some, like de la Renta's (on the cover above) are grand in scale and tended by an army of skilled professionals, others modest and easily kept, but all alluring and extremely enviable. Throughout the oversized volume author Jane Garmey recounts the story of the creation of the leafy retreats while John Hall's lavish photographs of sumptuous flowers and luxuriant foliage make them leap off the page.

Tags: books, coffee table books, Connecticut, estates, garden, gardening, Greenwich, New Canaan, Oscar de la Renta, real estate

River House, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I first saw today's home in the River House building in New York City listed last December when Cityfile brought it to our attention. At that point the home, the 14-room duplex belonging to Arlene Farkas, the ex-wife of real estate/retail heir Bruce Farkas, was listed with Stribling. The five-bedroom apartment was first listed for $15 million in 2008 and now has a new broker but the same price as it did nearly a year ago, $11 million.

The NY Observer points out that the River House hasn't always been the hottest property and certainly we've seen some units there linger on the market but it certainly does have some beautiful views. The Art Deco building was built in 1931 and overlooks the East River. The apartment has 10'6" ceilings and large windows. Rooms include a large living room, library, formal dining room, a chef's kitchen with a breakfast room and a second floor with five bedrooms plus three maid's rooms.

Gallery: River House