luxuryrealestate

The Fawcett House, Estate of the Day

Filed under: Estates

Frank Lloyd Wright houses always seem like a lot to live up to and this one, the Fawcett House in Los Banos, California is no exception although this ranch house designed by an aging Frank Lloyd Wright is a bit less dramatic than some of his other creations. The long and low home was designed for a family, Buck and Harriet Fawcett and has two twin wings with a row of bedrooms radiating outward on the north side and the kitchen and play room on the south.

The family room is dominated by a massive altar of a fireplace. The theme of triangles reappears in the home, the floor is decorated with them and they appear in wood screens, fixtures and skylights. The home sits on 76 acres including a walnut orchard and has an angular pool, separate studio, wine cellar, tractor bay, Japanese garden and koi pond.

As the San Francisco Chronicle mentioned, there's a responsibility to owning a Frank Lloyd Wright home, it must be maintained according to the original design. But who would want to mess with it anyway? This home is listed at $2.7 million, there are many more pictures at the property website that are well worth a look.

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[Thanks, Lana]

Gallery: The Fawcett House

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Tags: estate of the day, EstateOfTheDay, frank lloyd wright, FrankLloydWright, los banos, LosBanos, luxury real estate, LuxuryRealEstate

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Kootenai Springs Ranch, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Another huge ranch in Montana has hit the market. Hall and Hall has the listing for the Kootenai Springs Ranch in Stevensville, Montana. This ranch is located in western Montana south of Missoula and has around 1,186 acres, almost 800 of which are deeded. A meandering mile of the Bitterroot River forms the eastern boundary of the property. The large home is handsomely done in wood, stone and glass with views of the surrounding mountain range. The style is Western but with a modern edge that will appeal to those with a more contemporary style. The land has plenty of spring water which has created fishable creeks and ponds. The ranch is licensed shooting preserve and is considered a top sporting property in western Montana. It is listed at $14.5 million.

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Gallery: Kootenai Springs

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Tags: estate of the day, EstateOfTheDay, kootenai springs, KootenaiSprings, luxury real estate, LuxuryRealEstate, montana real estate, MontanaRealEstate, ranch for sale, RanchForSale

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A Broadway Producer in Connecticut, Estate of the Day

by Deidre Woollard (RSS feed) —

Today's estate at a discount comes via the Wall Street Journal's Private Properties column which reported that Broadway producer Anita Waxman and her husband Tom Dokton had dropped the price on their Connecticut home. The Tony award winner has a 39-acre spread in Lakeville, Connecticut which is about 100 miles north of Manhattan. The main home is a 5,000-square-foot red contemporary home with large glass windows showing mountain views. The home has an open floor plan with a great room dominated by a double-height fireplace, walls of windows and room enough for a grand piano. The second floor holds the master suite with double dressing rooms and there are four bedrooms total as well as a family room, office space and a wine cellar. The property also includes a pitched roof guest house with two bedrooms and a full kitchen. It was originally listed for $5.3 million but a recession discount brings it to $3.95 million.

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Gallery: A Broadway Producer in Connecticut

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Tags: anita waxman, AnitaWaxman, connecticut, estate of the day, EstateOfTheDay, lakeville, luxury real estate, LuxuryRealEstate

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Luxury Housing Heads for the Tank

by Laura Malesich (RSS feed) —

Filed under: Estates

They say it's lonely at the top and if you're in luxury real estate this statement is particularly true now. Although most of the middle-range housing has been tanking for a while it seemed that the high-end homes were immune to the receding market until recently. Not only are the wealthy delinquent on their jumbo loans, which don't qualify for government assistance, at a rate of 6.9% in December compared to 2.1% for other mortgages the number of prospective buyers is shrinking exponentially. For those housing markets that had the biggest boom they will have the furthest to fall which includes New York, Nevada and California. To top it all off the wealthy tend to be more leveraged doubling their mortgage and residential debt to almost $500 billion over a period of ten years. And the effect of that leveraging most likely has not impacted the housing market...yet. Yikes!

The home shown above, Halycon House, is a former estate of the day and is listed at $30 million.

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Tags: luxury, luxury housing, luxury real estate, LuxuryHousing, LuxuryRealEstate, real estate market, RealEstateMarket

Modern In Beverly Hills, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

This modern home in the Trousdale Estates area of Beverly Hills has four bedrooms, an open floorplan and a cushy home theater. It has a lovely, if chilly but clean design but all the details from the wood celings to the skylighted bathrooms, are just flawless here. There is a great sense of expansiveness and the listing describes it best, as "Lautner-esque" paying tribute to the great John Launter's classic designs. The outdoor space is pretty nice too offering an outdoor cooking and dining area as well as a pool and spa. This home is listed at $12.5 million.

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Gallery: Modern in Beverly Hills

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Tags: beverly hills, BeverlyHills, celebrity real estate, CelebrityRealEstate, estate of the day, luxury real estate, LuxuryRealEstate, trousdale estates, TrousdaleEstates

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Moscow Townhouse Sells for Record $99 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates

An unnamed Russian billionaire has splashed out $99 million on an ultra-luxe Moscow penthouse around the corner from the Kremlin. The seven-story, 14,000-sq.-ft. oligarch's aerie features five bedrooms, five baths, an indoor pool, separate children's floor and winter garden on the roof. It's located in the chic Chistie Prudy Residence complex, which has underground parking, private security and a water purification system. "For Moscow, it's an absolute record," the townhouse's real estate firm's spokesman Ruslan Barabash tells Reuters. The interior is done in a Moorish style with marble mosaics, myriad columns and arches, Moroccan-style lighting and garish touches galore.

[pix via BallerHouse]

Gallery: Moscow Mansion

Tags: Luxury real estate, LuxuryRealEstate, Moscow, Russia, Russian billionaires, RussianBillionaires

London Loses World's Most Expensive Title to Monaco

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

The Principality of Monaco has now overtaken London as the world's most expensive luxury property market, with prices reaching approx. $7,000 per square foot. According to newly-released data, the average price of Monaco's most expensive houses and apartments rose 30% over the past year as opposed to only 1.8% in London, which has held the top spot for the last five years, Bloomberg reports. As we noted a few weeks back, Monaco is home to the world's most expensive street, Avenue Princess Grace in Monte Carlo, where apartments cost tens of millions. London meanwhile has seen a steep decline in its luxury market, which has even affected Buckingham Palace to the tune of a $100 million depreciation. The top 10 luxury property markets in the world are now ranked as follows:

1. Principality of Monaco
2. London, England
3. Cap Ferrat, French Riviera
4. Courcheval, French Alps
5. New York, USA
6. Moscow, Russia
7. Tokyo, Japan
8. Hong Kong, China
9. Sydney, Australia
10. Paris, France

Tags: London, Luxury real estate, LuxuryRealEstate, Monaco, Monte Carlo, MonteCarlo

Freddie Mac CFO Home On The Market, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

It's been a bad time for mortgage companies and few know that better than Freddie Mac CFO Anthony Piszel. Piszel is having a real estate crisis of his own, the NY Post's Gimme Shelter column reports that he has put his luxury home in posh Easton, Maryland on the market. The home is a Georgian style brick mansion on 4.5 gated acres on Maxmore Creek. It includes guest quarters an inground heated pool with brick patio and detached 3 car garage. There are six bedrooms, six baths, formal dining and living rooms, a cherry-paneled den, game/media room and a kitchen that seems rather basic except for the impressively large range. It is listed at $4.975 million.

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Gallery: Rigby's Lott

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Tags: anthony piszel, AnthonyPiszel, easton, estate of the day, EstateOfTheDay, luxury real estate, LuxuryRealEstate, maryland

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Edge Wood, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I wondered back in 2006, when I first saw today's estate listed, if it was a bit overpriced. It turns out I may have been right, it has gone through a major price reduction since then. Luxist reader Ryan reminded me of Edge Wood in Virginia Beach, Virginia. It is a large six bedroom home which was built in 2002 and sits on the waterfront. It has two docks, three boat lifts and a sandy beach. The compound is over three acres and has more than 21,000 total square feet of space including a large guest house. The home includes details such as a billiards room with a bar, a large art studio and a master suite with a wet bar. It is listed at $16 million, which is less than two-thirds the price it was two years ago when it was listed at $24.5 million.

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Gallery: Edge Wood

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Tags: estate of the day, EstateOfTheDay, luxury real estate, LuxuryRealEstate, virginia, virginia beach

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Avila in Tampa, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Let me take the opportunity of today's estate of the day to remind everyone just how much I love getting tips on outrageous real estate. If you find a luxury property you think I should see, please use the tips form on this site to send in the info.

Today's estate was referred to me by Luxist reader Chris who rightly thought it would make an interesting estate of the day. Certainly we don't see homes this lavish in Tampa, Florida too often. The huge compounds usually tend to be on the Atlantic side of the state near Palm Beach or Boca Raton. Today's home is located inside Avila, a private country club community. The gated home is on over five acres overlooking the golf course, pond and conservation areas within Avila. The compound is over 28,000 square feet of space and with attached guest quarters it has 10 bedrooms. The home is pretty ornate. Outside it has a grand manor-like look. Inside there is a large ballroom, a library paneled in dark wood , 14 fireplaces, elevator, wine room. The grounds include a pool and spa with cabana and basketball court. Obviously a lot of money has been spent here but I question the overall effect. The dark wood, marble and touches of gilding. It reminds me of Villa Versailles in Malibu which is on the market for around the same price in that it aspires to grandeur but seems too overblown to be livable even for those with the most lavish of tastes. This home is listed at $25 million.

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Gallery: Avila in Tampa

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Tags: estate of the day, EstateOfTheDay, florida, luxury real estate, LuxuryRealEstate, tampa, tampa bay

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Value of Buckingham Palace Plummets by $100 Million

by Jared Paul Stern (RSS feed) —

Filed under: Estates, Wealth

It seems even the Queen of England is feeling the credit crunch. The value of her official London residence, Buckingham Palace, has fallen by about $100 million over the past 12 months, the London Telegraph reports. The 52-bedroom mansion, which dates to 1703 and sits on 40 prime acres, is now valued at $1.7 billion, down from $1.8 billion in August of last year. The dollar figure was assessed by UK property values database Zoopla, which has also calculated that the Queen's weekend retreat, Windsor Castle, has dropped about $15 million in value over the same period to $320 million. "The figures highlight that even the Royal Family aren't immune to the recent property market slump and that larger properties have been effected too," Zoopla CEO Alex Chesterman tells the paper, noting that further decreases could well be in the offing.

Gallery: Poor Buckingham Palace

Tags: British royalty, BritishRoyalty, Buckingham Palace, BuckinghamPalace, London, luxury real estate, LuxuryRealEstate, Property values, PropertyValues, Queen of England, QueenOfEngland, Real Estate, RealEstate, Windsor Castle, WindsorCastle, Zoopla

London Luxury Real Estate Down for 1st Time in 5 Yrs.

by Jared Paul Stern (RSS feed) —

Luxury residential real estate prices in central London, the world's most expensive city, have had their first annual decline since 2003 due to worsening economic conditions. The average price of houses and apartments in London's nine most expensive neighborhoods fell 1.6 percent in August from a year earlier, according to an index of properties valued at $2 million or more, Bloomberg reports.

While it's no secret that London prices have been dropping - my colleague Deidre Woollard reported on the trend in July - this is the first time the full scope of the decline has been assessed. Total prime residential sales in London are down an astounding 46 percent from last year; the downturn is being blamed on "pessimism in the financial services sector."

Some mega-rich moguls, such as Ukrainian billionaire Viktor Pinchuk, who paid over $150 million for a five-story London townhouse earlier this year, are doing their share to prop up the market.

Tags: Billionaires, London, Luxury real estate, LuxuryRealEstate, Viktor Pinchuk, ViktorPinchuk

Casa Casurina Opens For Home Tours

by Deidre Woollard (RSS feed) —

Filed under: Estates

Gianni Versace's Miami, Florida home Casa Casuarina has been a private club for years. Now the 1930 Italianate mansion on Ocean Drive in Miami Beach is open for a limited run of public tours. Versace bought the home in 1992 for $2.9 million and since his death it has been a private club and part of the Leading Hotels of the World group offering ten suites. The Casa also includes a mosaic pool, Observatory roof deck and member's lounges including the Moroccan room, the Caviar Creator Club Lounge, the Polo Bar and the Davidoff cigar bar. Tours of Casa Casuarina cost $50 and are offered at 9 a.m., 11 a.m. and 2 p.m., through Sept. 30. In homage to Versace, the tours, which need to be booked in advance, will be given by a woman dressed in a Versace gown.

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Tags: casa casuarina, CasaCasuarina, gianni versace, GianniVersace, luxury real estate, LuxuryRealEstate, miami, versace

Cotuit Home, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

This large home in Cotuit, Massachusetts takes traditional Cape Cod style to a new level. The home is on seven acres and has waterfront views. The land includes a pool area and a guest house with a turret and a circular staircase. The shingled home combines rough wood beams and exposed brick with columns and double-height ceilings to create a home that manages to be both cottage cute and a bit extravagant. The listing references a lot of France, pointing out that every room in the house features a chandelier, mostly imported from Paris, the kitchen features a professional eight burner Parisian stove and the master bedroom has glass etched doors reminiscent of Lalique styling. There are four bedrooms total and the home also has a library, fitness area and a wine cellar/grotto. The home is being sold furnished and is listed at $12.5 million.

For more prime properties and lush locations, see Luxury Homes and Mansions.

Gallery: Cotuit Estate

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Tags: cape cod, cotuit, estate of the day, luxury real estate, LuxuryRealEstate, massachusetts

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Thompson Circle, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

The Wall Street Journal's Private Properties column led me to today's home in Washington D.C. on Thompson Circle, in the Massachusetts Avenue Heights neighborhood near St. Albans School. The seven-bedroom home was built in 1929 and has a classic exterior. It was built by Christian Heurich, a brewmaster, as a wedding gift to his daughter. Real estate developer R. Donahue Peebles and his wife, Katrina bought the 0.35-acre property in September for $5.9 million. The couple landscaped, added a laundry room, a wine cellar and finished the basement and look to have given the entire place a bright white coat of paint. It is listed at $8.3 million.

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Gallery: Thompson Circle