| You are receiving this message because you have visited our site and requested to be contacted. If you no longer wish to be contacted, please use the removal link: REMOVE. | | | | | | | | Georgica Pond Luxury Estate Fetches $67.3 Million | | | | Exclusive East Hampton Retreat Changes Hands A significant portion of an exquisite estate by Georgica Pond has recently been sold for an impressive $67.3 million. The sprawling 5½-acre property, initially owned by a prominent entertainment figure, boasts a main residence featuring seven bedrooms, an inviting outdoor swimming pool with stunning pond views, and a charming three-bedroom guesthouse.
Strategic Real Estate Moves The estate was not actively listed, as the former owner had intentions of renovating the compound. However, following the acquisition of a nearby oceanfront property for $70 million, plans shifted. This estate was originally purchased for approximately $50 million, reflecting a keen investment in one of the most desirable locations.
Future Developments in East Hampton The new proprietors are poised to capitalize on the prime real estate market by planning to sell three of the four parcels that constitute the estate. The primary lot, encompassing the main house and pool, along with two additional vacant lots, will be offered at $55 million. These parcels can be acquired individually or as a package, creating unique opportunities for discerning buyers. Notably, the guesthouse will remain with the new owners, enhancing the estate's allure.
A Legacy of Luxury This estate represents not just a significant transaction but also a legacy of luxury real estate. The former owner has a history of high-profile purchases, including a $54 million penthouse on Manhattan's Upper East Side, exemplifying a commitment to acquiring exclusive properties in sought-after locales. | | | | | | | | Glamorous Miami Beach Home Listed for $16.9 Million | | | | Stunning Waterfront Property on Biscayne Point Island A luxurious waterfront residence on Biscayne Point Island has entered the market, offered for nearly $17 million. This contemporary home, spanning 5,352 square feet, features five bedrooms and five full bathrooms, embodying the essence of sophisticated living.
Exquisite Design and Furnishings The property showcases over $270,000 in European designer furnishings, included in the sale price. The interior boasts a remarkable collection of contemporary art, displayed on extensive wall space, with options for separate negotiation on these pieces.
Impressive Architectural Features Constructed in 2021, the home is set on a quarter-acre lot, boasting 75 feet of private water frontage and a dock, ensuring easy access to the bay without fixed bridges. A breathtaking circular glass staircase, handcrafted in New Zealand, enhances the architectural elegance. An elevator leads to a private rooftop terrace equipped with a summer kitchen, providing panoramic views of the water and sky.
Luxury Living Spaces The ground floor features an office, a gourmet chef’s kitchen with high-end appliances, a formal dining area, and a living room adorned with floor-to-ceiling windows that overlook the pool. The expansive primary suite on the second floor includes walk-in closets and its own terrace. The outdoor grounds are designed for relaxation and entertainment, featuring manicured lawns, a spacious swimming pool, and a jacuzzi.
Growing Luxury Market Trends The Miami area has witnessed a surge in high-end property sales, with an impressive 27 percent increase in transactions above $10 million during the second quarter, making it the second highest in the U.S. after New York. | | | | | | | | | | London's Luxury Market Faces Challenges | | | | High-End Mansions Struggle to Attract Buyers The luxury housing market in London is experiencing a notable slowdown, with many of the city’s most expensive properties failing to secure buyers. This trend is attributed to uncertainties surrounding the upcoming budget, which have made potential purchasers hesitant. A recent report from U.K. real estate firm Knight Frank reveals that transactions decreased by 22 percent in the year leading up to July, compared to the previous year.
Decline in High-Value Sales Only 149 mansions valued at £10 million (approximately $13.2 million) or more were sold in the past 12 months, a significant drop from the 192 sold in the prior period. Furthermore, super-prime sales reached £2.8 billion ($3.7 billion), marking a 36 percent decline from the £4.3 billion ($5.7 billion) achieved by July 2023.
Concerns Over Upcoming Budget Many affluent buyers are adopting a wait-and-see approach as they anticipate the 2024 Autumn Budget announcement scheduled for October 30. Potential changes to capital gains tax, inheritance tax, and council tax have created an atmosphere of uncertainty. Additionally, discussions about the possible elimination of the non-domicile tax status could impact wealthy individuals' decisions, prompting some to consider relocating outside the U.K.
Market Dynamics and Trends Despite the challenges, the market is not completely stagnant. There remains a selection of high-end properties available. Notably, a luxurious penthouse at the iconic Battersea Power Station recently hit the market for $40 million. While the pace of sales may have slowed, the super-prime segment continues to function, albeit with greater discretion among buyers.
Hope for Future Sales Although the current climate presents risks, London’s appeal on the global stage remains strong. There is optimism that the city's allure will eventually result in more multimillion-dollar transactions. | | | | Idaho's Opulent Pynewoods Estate Heads to Auction | | | | Luxurious Waterfront Property Awaits New Owner The exclusive Pynewoods Estate, nestled on the shores of Lake Coeur d'Alene, is poised to attract attention as it heads to auction. Spanning seven acres within the prestigious Golf Club at Black Rock, this property represents a rare opportunity for discerning buyers. Currently listed at $24.7 million, bidding is expected to commence at approximately $14 million on September 19.
Stunning Design and Amenities The estate features a sprawling contemporary residence designed by a renowned architect, encompassing five bedrooms and nine bathrooms across three parcels. Accommodating up to 16 guests, the property also includes a guest house and a garden house. Plans for an additional guest house are available, offering potential for further expansion.
Impressive Interior Spaces Upon entering, a stone driveway winds through a lush, forested landscape leading to a landscaped motor court flanked by tranquil water features. The centerpiece of the home is a magnificent 40-foot-long great room, characterized by soaring ceilings, back-lit wood panels, and stark white walls ideal for showcasing art. A wall of motorized glass doors seamlessly connects the interior to the expansive backyard.
Gourmet Chef's Kitchen The gourmet chef’s kitchen boasts a double-height space accentuated by a skylight, glossy Italian cabinetry, and top-of-the-line appliances from Gaggenau, Miele, and Sub-Zero. The large eat-in island serves as both a dining space and a cooking prep area, while the adjacent formal dining room features stylish pendant lighting and more motorized glass doors that open to the outdoor areas.
Sumptuous Primary Suite An entire wing of the home is dedicated to the primary suite, which features a striking glass-lined hallway leading to a spacious bedroom with a fireplace and oversized windows that frame picturesque views. This luxurious retreat includes two offices, two bathrooms, a designer walk-in closet, a private gym, and convenient access to a golf cart garage.
Outdoor Living and Recreation The estate offers an array of outdoor amenities, including a large outdoor fireplace, waterfalls, reflection pools, and a regulation-size pickleball court. Landscaped gardens and fruit orchards enhance the property’s allure, while a separate garden house provides a sauna, crafting space, and potting area. A guest house adds further accommodations with two bedrooms and additional living space.
Exclusive Membership and Boat Slip The property includes a private boat slip and a membership to the Black Rock Golf Club, granting access to the Jim Engh-designed golf course and its array of luxury amenities. | | | | Miami Penthouse Sells for $9.25 Million | | | | Dramatic Triplex Features Unmatched Views A striking triplex penthouse in Miami's Bristol Tower has recently sold for $9.25 million, following several years of fluctuating listings. Spanning approximately 9,000 square feet, this five-bedroom residence offers breathtaking 360-degree views of the ocean and Miami skyline.
Architectural Marvel with Unique Design The penthouse boasts a remarkable circular living room with ceilings soaring to 30 feet. A stunning spiral staircase, crafted from Venetian plaster, ascends to a translucent dome, leading to a mezzanine that enhances the space's allure. This thoughtfully designed area was previously adorned with an impressive art collection, adding to its vibrant character.
Exceptional Outdoor Amenities Three levels of decks and terraces surround the residence, featuring a private outdoor swimming pool and a barbecue area, ideal for entertaining or relaxing while enjoying the picturesque scenery. Additional amenities include a billiards room and a gym, making this penthouse a complete lifestyle retreat.
Market Journey and New Ownership Initially purchased for $12.525 million in 2007, the penthouse was first listed for sale in 2012 at $16.8 million. After several price reductions and a hiatus from the market during building renovations, it was relisted this winter. The new owner, a businessman relocating from New Jersey, plans to make this luxurious penthouse his primary residence. |
|
|
