property

Historic 355 Acre Caribbean Property for Sale at $15 Million

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

Owning a Vineyard, an Interview with the Shadicks

by Annie Scott (RSS feed) —

Filed under: Wine

Many of us visit vineyards and wineries as a way to escape. We take in the sweeping, lush scenery and enjoy the aromatic, literally intoxicating fruits of the winemakers' labors. Often, we wax poetic about how serene it would be to have a vineyard of our own, but few of us ever have the means or the drive to actually do so. On a snowy evening in Minnesota, we sat down with Patti and Tom Shadick (pictured), two Minneapolis residents who own their very own vineyard in Sonoma.

Before you scoff at the notion that a married couple in the icy north could possibly have any real involvement in California grape growing, consider who these two are: two wildly successful entrepreneurs whose magnificent backyard garden transformations have been featured in the pages of many magazines, including Renovation Style and the cover of Better Homes & Gardens.

As we sat at their handsome dining room table, Tom told the story of how his Elk River, Minnesota school superintendent used to feed the schoolchildren with vegetables from a local peet bog, which he was allowed to help farm. "That's what brought us to this," he said, referencing a history in several industries including importing Wusthof knives, "I love digging in the dirt."

With that, we dove into chatting with the growers about the pleasures and pains of owning a vineyard over 2,000 miles away. The Shadicks poured us a glass of Deux Amis, a Shadick Vineyard '06 Zinfandel, which has a charming eucalyptus nose. Eucalyptus trees from the next property hang over the Deux Amis area of the vineyard.

Luxist: So, how do you operate a vineyard all the way from here in Minneapolis?

Patti Shadick: We have a vineyard management company that operates it for us.

Tom Shadick: So, we have no employees, which is ... (thumbs up). John Clendenon and Kathy, natives of the area in their mid-fifties, they have 85 employees. They have expertise in every end of the business, they own all the equipment, they take care of all the farm labor problems, everything.

PS: We just have to write them a good sized check.

TS (laughing): Every month we get a bill, and we send them a check.

Gallery: Shadick Vineyard

Tags: interview, owning, property, Shadick, vineyard, wine

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Bell Ranch Expands Land, Cuts Price

by Deidre Woollard (RSS feed) —

Filed under: Estates

I first covered the offering of the Bell Ranch in 2007. The New Mexico ranch is still on the market and the deal has gotten better. The Bell Ranch, which was assembled by William N. Lane nearly 40 years ago, is now being offered with an additional 40,100 acres of canyon country and productive pastureland. The additional acreage contains abundant habitat for deer, turkey, bear, and an emerging population of elk, plus water features unique in the region. This brings the Bell Ranch total to 290,100 +/- contiguous fully-deeded acres, or over 453 square miles.

The Bell Ranch features Bell Mountain and a a 10,832-square feet hacienda with swimming pool and tennis courts The property includes a general manager residence and lake house, ranch offices, stables, barns, garage and storage facilities. Cowboy camps are located throughout the property. The Bell Ranch airfield (8,200' x 75' lighted dirt airstrip) has a large hangar.

The ranch is now listed a per-acre price that is 22 percent below its original listing price. At $99 million or $341 per acre for the land, and $4 million for the livestock and equipment, The Bell Ranch offers a lot of room to roam for your $103 million. The property was listed at $115 million when I covered it in 2007.

Gallery: Bell Ranch

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Tags: bell ranch, BellRanch, cattle ranch, CattleRanch, new mexico, NewMexico, property, ranch

Monaco Is Tops For Expensive Property

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The most expensive place to own prime real estate in the world is now Monaco which beat out London as the most expensive place to buy residential property in a recent survey. In Monaco a piece of prime property costs 50 000 euros per square meter ($68,000) versus 28,000 euros for London and 16,000 euros for Manhattan. The Wealth Report, compiled by Citi Private Bank and Knight Frank shows that property values fell 17 percent in London and 25 percent in Hong Kong. Real estate around the world is generally gloomy with prices either down or in stasis in most of the world's cities.

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Tags: monaco, property, real estate, RealEstate

London Luxury Real Estate Continues To Slide

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

I mentioned last month that luxury property in London wasn't doing so well and the latest news reflects that it is getting worse. The Wealth Bulletin reports that luxury residential property in London fell 3.7 percent last month which is the second highest monthly decline on record. The drop had much to do with new weakening in what is dubbed the "super-prime market," properties over £10 million. Real estate agent Knight Frank reports that prime London prices fell 21.4 percent since March 2008 peak, and properties in the £1million to £2.5millon range fell 25.3 percent over the same period.

The super-prime £10m bracket which has appealed to foreign buyers, particularly from Russia and the Middle East is said to have lost 20 percent in value in the five months since September. Knight Frank predicts that the bottom should be hit pricewise sometime in the middle of the year but has revised their prediction downward from 30 percent off peak to 35 percent.

Should you still be flush, the property above, a detached Victorian villa in the heart of Kensington is listed at £24 million with Knight Frank. it is need of renovation and there is planning permission to extend the current size of the home from an already large 6143 square feet to an expansive 11,438 square feet.

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Tags: london, property, real estate, RealEstate

Real Estate Weakness in London

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Here in the U.S. real estate woes have been common for a few years but lately it's not so rosy overseas either. The IHT reports that luxury-home prices in central London, the world's most expensive location for prime real estate have fallen for two months in a row. Knight Frank's analysis reveals that the average price of houses and apartments in London's nine most expensive neighborhoods fell 1.7 percent in June from a month earlier which cut the annual increase to 7.5 percent, down from a peak of 38 percent in August.

Like other markets, the peak end is doing well. In the London market homes costing more than £10 million did fall for the first time in three years on a monthly basis bit values are still 23 percent higher than a year ago. The market for the prime properties at this level is partially fueled by international buyers, especially from Russia, India and the Middle East, including billionaires like Roman Abramovich and Lakshmi Mittal.

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Tags: london, property, real estate

Woodstock's Famous Farm For Sale

by Sandy Maple (RSS feed) —

Filed under: Estates

I am too young to have been a part of Woodstock, but for the 400,000 or so who did attend the 1969 music festival, Max Yasgur's farm in upstate New York is a special place. Roy Howard currently owns the property and after years of wrangling with local officials over reunion permits, he's ready to sell. The asking price is $8 million, but who can put a price on owning such an iconic piece of American history?

The alfalfa field where the actual concert took place is not for sale, but Yasgur's 2,000 square foot house is, along with a larger farmhouse and barn as well as 103 acres of land. The house, located 80 miles north of New York City, comes with a gourmet kitchen with stainless steel appliances, double convection ovens, Viking stove, antique soapstone sink, 22-foot vaulted ceiling and beautiful views of the Pocono Mountains. Also included is a double whirlpool tub, steam shower and a bidet.

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Tags: barn, farm, land, max yasgur, MaxYasgur, new york, NewYork, pocono, property, real estate, RealEstate, roy howard, RoyHoward, upstate new york, UpstateNewYork, woodstock, woodstock farm, WoodstockFarm, yasgur's farm, Yasgur'sFarm

Most Expensive Streets in the UK

by Nicole Weston (RSS feed) —

Filed under: Estates

Mouseprice.com, a property research site that is similar, in concept, to sites like Zillow, compiled a report on the most expensive streets in the UK based on average property values. The two top streets are in Kensington and Chelsea, with average home prices at over £5.5 million on Kensington Square and over £5.0 million on Chelsea Square. Fortunately for those buying into the market (but somewhat less fortunately for those selling), these areas have also exhibited some of the slowest gains in value over the last few years, meaning that those looking to purchase in the near future shouldn't worry about being priced out of the market just yet.

For a more specific look at various parts of the country, check out Mouseprice's full report, or read the full top twenty listing after the jump:

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Tags: britain, england, kensington, property, real estate, uk, wales

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London Homes are the Most Expensive

by Nicole Weston (RSS feed) —

Filed under: Estates

Experts say that homes in London are the most expensive in the world. Property in the most desirable areas of the city average $2,300 per sq. foot, compared to $1,900 in New York City. The reason for the high prices is largely that London is, from a business perspective, a perfect place to live. Its time zone means that businesses have overlapping business hours with companies in the US and the Middle East and the fact that more than 50% of the housing market is owned by foreign buyers reinforces the city's position as an global hub. From all appearances, the trend of rising property prices will continue as the number of Asian buyers, which has grown by 60% in the last five years, is still on the rise, bringing new business and more money into the city.

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Tags: cities, city, expensive, london, properties, property

Coto de Caza, Estate of the Day

by Nicole Weston (RSS feed) —

Filed under: Estates

Tonight is the season finale - possibly the series finale - of Bravo's The Real Housewives of Orange County, a show set in the heart of Orange County, California, in a development called Coto de Caza. Since the show is ending, it's only fitting that our estate of the day is from the area. Coto de Caza is a large development with approximately 4,200 homes. It has a private golf club, with a course that has been rated one of the best in the country, a tennis club, an equestrian center and a nearly 500 acre wildlife park. Homes start around $500,000 and go up to multi-million dollar estates. This Tudor-style equestrian estate is one of the multi-million dollar homes.

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Tags: 12 millio, 7 acres, california, coto de caza, estate of the day, home, horses, house, nestate, orange county, pasture, property, southern california, television, tennis court, the oc, tv

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The Wave, Muscat

by Deidre Woollard (RSS feed) —

Filed under: Estates

We've covered a lot of real estate in Dubai but now Oman seems to be making its push to the world. The area offers mountains, dunes and plenty of beaches which makes it a natural draw for tourists. A new real estate development, The Wave Muscat, located in Oman's capital, is designed to tempt foreigners. It will include a Greg-Norman-designed golf course, 300 berth marina, four hotels, shops and restaurants. The first real estate offerings include 100 townhouses, 100 garden villas and 25 waterfront villas. The lakefront villas start at around $428,000. An Indian architect, Asif Parpia, is the first foreigner to buy a property at The Wave and was chosen through a lottery held earlier this year.

[via Dubai Property Center News]

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Tags: dubai, greg norman, middle east real estate, MiddleEastRealEstate, muscat, oman, property, real estate, the wave muscat, TheWaveMuscat

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