image courtesty of 432 Park Ave

She and boyfriend, ex-Yankees baseball star Alex Rodriguez (worth a princely $350 million himself) purchased a luxury, never lived in 4,033 square feet condo on the 36th floor at the super tall (96-story) tower at 432 Park Avenue. Given the fact that the power couple have 4 under age children between them, the 3 bed, 4.5 bathroom hardly seems destined to be their primary residence. However, one option might be to buy the condo next door which occupies the other half of the 36th floor and combine them for one huge hybrid family party pad It could just about accommodate their entourage of nannies, personal assistants and more. Certainly the numbers on the condo would make most people stomach’s tie themselves in knots. Taxes and common charges tally up to $15,564 per month. The condo boasts a private elevator with an expansive living and dining room with views to all of Central Park.

image courtesty of 432 Park Ave

The tower was designed by renowned Hungarian architect Raphael Viñoly and includes a slew of amenities including a games parlor; a state-of-the-art screening room; a health club and spa with a building-wide indoor swimming pool and a residents’ restaurant where three meals a day are served from an open kitchen under 15-foot-long chandeliers hung from a 30-foot ceiling. 

Image courtesy of 432 Park Ave

Fellow residents shouldn’t expect to see their power couple neighbors doing laps of the pool of chowing down at the restaurant. Lopez and Rodriguez are serious real estate investors, parking their cash in a number of luxury properties on both costs.

IJennifer Lopez Stone Valley, Bel Air home mage courtest of Beam.land

Lopez also calls a lavish eight-acre compound home in LA’s Stone Canyon area which she purchased in May 2016 for $28 million. Previously in 2010, she purchased a 17,000 square foot mansion in LA’s Hidden Hills enclave for $8.2 million She currently owns a Hamptons mansion set on three acres in Water Mill, N.Y. which was purchased in 2013 for $9.995 million.

"Other than investing in herself, real estate is one of the few tangible investments J-Lo can make," says Jessica Hayden, part of the Ilan Bracha team at Keller Williams, NY. "A residential portfolio is a very user-friendly investment that can be fun, personal & even self-expressive! She could simply enjoy utilizing her well-tuned artistic acumen when purchasing properties and then doesn’t feel the need to take that next step."

The “Waiting For Tonight” singer has also bought and sold a few more NY pads including a 6,540 square-foot duplex penthouse on a boutique building in the pricey Flatiron District where neighbors include Chelsea Clinton and racing star Jeff Gordon. The apartment was purchased the fall of 2014 after being discounted to $20.161 million from $26.95 million. Lopez has now put the building up for sale at its original asking price.

"Her rate of return from what I read seems to be working," says Hayden. "She has good instincts."

Image courtesy of the Daily Mail

She also sold her Biscayne Bay, Miami mansion to singer Phil Collins in 2015 (above).

But the lofty numbers haven't made the star forget her roots. Earlier this year Lopez and Rodriquez dropped in on a real estate class in the Bronx which teaches students about property ownership in the neighborhoods they grew up in, as part of the Project Destined program. The program teaches teens about real estate, investments, financing and construction with the help of Harvard business professors. Must have been good to have Jenny back on the block.

The post Inside Jennifer Lopez and Alex’s Luxe Real Estate Empire appeared first on Haute Residence by Haute Living.

Those areas have always been around established cities with Edinburgh traditionally leading the pack. However, Aberdeen and Glasgow have also noting significant increases. The new increase means that parents north of the border are now willing to pay the same premium as London parents who pay an extra £70,675 (US$91,418) to live in good school districts. The difference is that the cheapest house prices in East London average around $400,000 whilst the most expensive in Central London average over $2.5 million.

University of Glasgow (photo courtesy of The University of Glasgow)

For Scottish parents the investment in a good school distract is worth it as it could well be the last investment they make in their children’s education. University is free for Scottish citizens and considering the high caliber of Scottish Universities — Edinburgh, Glasgow, Aberdeen and Dundee to name but a few — a real estate investment earlier in life could more than pay for itself. As a finger in the eye to the current British government who are trying to force through Brexit, the Scottish government (Scotland voted unanimously to stay in the EU) is now extending their free university policy to non-UK European students who travel to Scotland to study after the UK’s formal Brexit date. Britain is scheduled to exit the EU in March 2019, two years after Theresa May sent the Article 50 letter.

Author J.K. Rowling's Edinbugh home (photo coutesy of priceypads.com)

The feel good factor around Scotland and Edinburg in particular, which has always been a bastion for art and literature, (current residents include novelists J.K. Rowling and Ian Rankin amongst others) has seen house prices rise faster there than in 20 other UK cities according to the Wall St Journal which cited data released by Hometrack a property analytics firm. Prices in Edinburgh rose 7.2 percent between April 2017 and this year to an average £222,800, (almost US$300,000). London, by comparison, saw below-inflationary price increases of 0.8% over the same period. The average city price growth was 4.9%.

Townhouses in New Town, Edinburgh (photo courtsey of Edinbugh Architecture)

As always supply and demand is pushing up house prices with less inventory on the market and trendy areas such as New Town neighborhood, a Unesco World Heritage site close to Edinburgh Castle, surrounded by pubs and restaurants in high demand. Elsewhere in the city, massive redevelopment is taking place with a $1.3 billion investment in a shopping center. In addition, 112 new new homes ranging from $350,000 to $3.3 million will be constructed.

With students from all over Europe set to make Scotland home in the next few years and house prices in the ascendent, Scots may indeed ask “Brexit, what Brexit?”

The post Brexit,What Brexit? Scottish House Prices Continue To Rise Around Top School Zones appeared first on Haute Residence by Haute Living.

The cash is rolling in like 30 footers during a pro surf competition. Over 55 homes sold for $5 million or more from the beginning of the year to end of July, tripling the previous year’s total. There were 23 sales in the $10 million and over market during the same period — double the year before. Jetting from the tech center to the tropical island is nothing new. In fact, it’s a well worn path.

Photo courtesy of Curbed.com

Hawaii’s tech tycoons  currently include Facebook Chief exec Mark Zuckerberg who bought a 700-acre estate on the sparsely populated Kauai reportedly for $100 million.

“You’re not seeing them buy penthouses in Honolulu -- they’re buying vast estates,” Winston Chesterfield, a director at research firm Wealth-X told Bloomberg. “It’s wild, it’s green, there’s ocean, there’s animals. There’s a very strong organic sense.”

Other Silicon Valley famous faces waking up to lush landscapes and aqua seas include Marc Benioff owner of the Salesforce clouding company and now Time Magazine, who purchased his Big Island compound in 2000 for the bargain basement price $12.5 million.

Larry Ellison (Photo courtesy of Forbes)

Oracle founder Larry Ellison (he purchased the entire island — or 98 percent of it — of Lanai from Dole Foods’ mogul David Murdock for a mighty $300 million in 2012). Mind you, when your net worth tops $49 billion and you are the 7th richest person in the world (according to Forbes), you can afford to spend a portion of it on an island to experiment with “environmentally sound ways to live.”

Only $20 or so billion behind Ellison is Michael Dell, owner of Dell Technologies whose net worth is $20.8 billion. He purchased the Four Seasons Resort Maui — just one of Silicon Valley’s elite who are investing in exclusive Hawaiian hotels as well as their own properties.

Paul Allen, the cofounder of Microsoft and talented part-time guitarist, like Ellison once owned an entire island. Now he merely owns a property on the Big Island, spending $7.5 million on a 10 acre farm in Kailua called the Thurston Estate. It consists of a 12,000 square-foot main house, along with living quarters for employees, a private harbor and bridge to a small island.

Peter Thiel (photo courtesy of Startupdaily.net)

Controversial PayPal founder, early Facebook investor and Trump supporter, Peter Thiel purchased a 1.7 acre ocean front property in Maui for 2011 for a then record $27 million. The home is made up of 4 pavilions, wrapping around a courtyard and swimming pool.

Innovation is in these mavericks’ blood and for many, owning a spread in paradise isn’t enough. Many, as in the case or Larry Ellison, aim to do something constructive with the land.

The Larry Ellison owned Four Seasons Resort In Lanai

“We’ve looked at agriculture, and it is one of the few industries that has not been transformed by modern technology,” he said at the Four Seasons Resort Lanai at Manele Bay last year. He plans to make the island a model that changes agriculture for the world by growing the freshest, most nutritional produce and profitably selling it for less than mass-produced imports. He has built a $15 million high-tech greenhouse with the aim to produce better food that costs less. “Lanai is step No. 1,” Ellison said. “We think we can transform agriculture.”

Pierre Omidyar, the founder of Ebay has purchased a farm in Kauau with the aim of importing almost 700 cows to start a dairy farm. His goal is decrease the island-state’s heavy reliance on imported milk, while using sustainable agriculture practices. His efforts have been met with opposition from sections of the tourism industry, worried about the smell from cow manure and flies on their resorts. Clearly, when profits are concerned, Hawaii’s wealthy feel it’s worth making a stink over.

The post Silicon Valley’s Tech Tycoons Are Buying Up Hawaii Real Estate At Rapid Clip — Some For Pleasure And Others For Profit appeared first on Haute Residence by Haute Living.

Via 57 West

Photo courtesy of enclos.com

First, it’s a tetrahedron. Digest that for a minute. Second, what more could you expect from Danish wiz Bjarke Ingels, the architect who has made it his business to defy convention? Now based in NYC, Time Magazine named him one of the 100 Most Influential People. We can see why.

325 Kent Avenue

Photo courtesy of StreetEasy.com

The Domino Sugar Factory was an iconic building on the Williamsburg waterfront but destined to be equally distinctive is the rental complex shaped like a (square) donut. Owned by Two Trees Management and designed by SHoP Architects, the 522 Unit luxury rental was completed last year and occupied by July 2017.                                                                                                   

American Copper Building

Photo courtesy of curbed.com

These two structures, located at 626 First Avenue in Murray Hill,  kind of look like two cartoon buildings shaking hands or even dancing. That’s because a three-level sky bridge connects the two. Those innovative boffins at SHoP Architects are responsible for designing the copper clad structures, which combined contain 761 units.

520 West 28th St by Zaha Hadid

Photo courtesy of StreetEasy

Shimmering, futuristic and with more curves than a sunny day at the Copacabana Beach, this is the first and only NYC project by the late celebrated architect Zaha Hadid. Located near the High Line in Manhattan, reported celebrity residents include Sting and Ariana Grande. The building contains 39 spacious units over 11 floors and was completed in 2016.

56 Leonard St

Photo courtesy of WSP

Leonard St as a whole has been garnering a lot of interest recently because of the number of luxury condos taking to the skies in pricey Tribeca. This glass, cantilevered beauty was completed in 2016 after being conceived almost a decade earlier. The penthouse is the most expensive condo south of midtown, selling for $47.87 million last year. The building has 145 units over a cloudbusting 60 floors.

Solar Curve, High Line

Image courtesy of Studio Gang

Still being constructed, this innovative piece of architecture by Chicago based architects, Studio Gang is known as the Solar Curve. It is prismatic in shape to take advantage of the sun’s moving position in the sky to heat the structure, while also benefited from the green space at the High Line.

400 Park Avenue South

Photo courtesy of Wikimedia Commons

Designed by Frenchman Christian de Portzamparc, over a decade ago, this is a jagged punkrocker of a building, jutting defiantly into the Manhattan skyline slightly north of Madison Park. But there’s nothing to rebellious about the pricey condos here which are completely sold out.

The post The 7 Most Eye-Catching New Residential Buildings In The NYC Skyline appeared first on Haute Residence by Haute Living.

Photo courtesy of Flickr.com

In the world of quick flips and maximizing purchase and construction dollars, renovating and restoring a brownstone for profit is the equivalent of climbing Mount Everest for some exercise. Stripping and sanding and staining intricate wainscoting and moldings is a painstaking and costly affair that doesn’t result in a bump in resale value. Rather than restore the houses are denuded of their original charm, replaced by paint, expensive stone, light wood floors, sputnik lighting and gleaming commercial grade appliances. A scan of the NY Times real estate section shows a number of these type of townhouses asking top dollar.

59 Lincoln Place (photo courtesy of the New York Times)

Park Slope’s 59 Lincoln Place ($4,490,00), 151 President St in Carroll Gardens ($3,500,000) and 453 DeGraw Street in Gowanus ($4,200,000) are visually stunning and have a classic brownstone facade but inside are hardly recognizable from the conventional detail dripping Victorian houses we expect

292 16th St, Park Slope Brooklyn (photo courtesy of Zillow)

“There’s a difference between a restoration and renovation,” says Abdel Tarchid, a designer with Scavolini Kitchens in Brooklyn, who has been involved in many such renovations including  292 16th St in Park Slope. “Developers are not in the business of restoring. Certainly many of our clients, come to us for something very modern but tasteful, with clean lines where the electric and plumbing along with heating and cooling systems can be installed in an efficient manner. It would be painstaking to do if you had to navigate around old pipes and woodwork,” he says.

Doug Bowen a broker with Douglas Elliman has sold around 100 Brooklyn townhouses. He sees the kitchen as a driver for large-scale renovations in historic townhouses.

“The most successful townhouse renovations manage to craft open-plan kitchens seamlessly into these antique properties,” he told the Appliances Connection blog. “Townhouse configurations in the prime parts of Brooklyn and Manhattan trend to either a single family or a two family. Most commonly an upper triplex with a garden rental. Both are most successful with kitchens at the rear that bring the outdoors inside and visa versa.”

For those attached to these historic townhomes, who believe stripping them of their Victorian majesty is almost sacrilegious, a replacing battered vintage molding with newly made ones is often a faster, if still expensive, undertaking, resulting in something truly spectacular.

1 Verona Plce courtesy of Zillow.com

In 2017, 1 Verona Place shattered the sales record for a townhouse in Bed-Stuy when it sold for $3.3 million. The entire interior was gut renovated and with all new moldings custom built apart from part of the staircase and painted in black lacquer as was fashionable a century ago. The developers were Christiaan Bunce, a principal at the design firm KGBL, and Adam Dahill, a mortgage broker. 

What their renovation budget was, they didn’t disclose. The lofty sale though, succeeded in raising the comps for the neighborhood of other houses without their meticulous renovation.

“Old houses have layers of visual interest created by the elaborate details, but you don’t have to keep them all,” said Kimberly Neuhaus, founder of the full-service architecture firm Neuhaus Design who recently renovated 167 6th Avenue in Park Slope, Brooklyn. 

“When you renovate an old home many of the materials are pre-existing. Your new interventions should be constructed of materials that you love.”

The post Luxury Brooklyn Brownstones Are Increasingly Inspired By Ultra Modern, Pricey Condos appeared first on Haute Residence by Haute Living.

The French Dream Towers is a project just launched out of the West Lake of Hangzhou, which uses microalgae exteriors. The structures’ renderings look like some kind of massive twisting sea creature with glittering metallic skin rising out of the depths. What it is, in fact, is one of the most technologically advanced buildings ever to be conceived and marks a giant step forward for the integration of form and function, creating a symbiotic relationship between the building structure and nature. The exterior glass panels actually consist of two glass panes with a pocket of air between them to foster bioreactive cultures in a greenhouse environment. It offsets the building’s environmental impact by absorbing carbon dioxide and producing oxygen.

The building’s location, Lake Hangzhou, is a UNESCO World Heritage site dotted by pagodas, lily ponds, rockeries and wood causeways -- one of the most peaceful, natural settings in China. The project was funded by a Chinese developer and a consortium of French businesses and designed by XTU Architects.

Anouk Legendre, co-founder of XTU Architects explained the logic behind the design to Forbes.

“The cultivation of the micro-algae on the building façade is a process that has been in development at XTU for many years,” he said. “It allows for a symbiosis. The bio facade uses the thermal building to regulate the culture temperature of algae and at the same time these façades allow a much better insulation of buildings.”

Glass towers have had a bad rap environmentally for many years because they heat up in the summer requiring a heavy use of air conditioning. Also, the reflective glare from the sun has been known to be harmful to the environment around it. In the winter, they are poor insulators. Now the use of algae could be a game changer. Not only could the micro-algae be used for renewable energy, the medicinal properties of algae could be harvested as well.

Like an equatorial rain forest, the top of the towers will foster tree filled greenhouses, not only providing a serene and peaceful place to relax but also a natural air filtration system. The shape of the towers will serve as a rainfall collection system where the two structures are joined at the base, reusing the water.

The French influence is more than just scientific. Each of the towers will be themed on a French expertise. A food tower will feature top restaurants and a panoramic view, while the art building will have its own gallery and artist residencies and a third tower will be populated with progressive and visionary business — start-ups and co-working spaces.

“Hangzhou is a city where water is very present, we want to continue, update and highlight this tradition," explained the architects.

Photo credit/courtesy of: Dezeen.com

The post China And France Collaborate On Futuristic Eco-Tower appeared first on Haute Residence by Haute Living.

According to the report, between April and June, an average of 20.9 percent of properties in prime areas of West London sold within the first three months of being on the market. It the East, in prime gentrified locations half that amount, 9.4 percent of properties sold within three months.

Coupled with this, during the same period the price per square foot of sold properties rose 4.4% in West London, and decreased 6.4% in East.

To expect East London to compete with West is unrealistic. The west has always been the center of entertainment, historic landmarks, shopping and business but in recent years, areas such as Dalston in the East had witnessed a previously unthinkable turnaround to become a hotbed for hipsters while the Docklands attracted the business it was always hoped it would do. Increased transport links in the East, centered around Stratford, the site of the Olympics, made commuting from all parts of the country and the continent more feasible than it had ever been.

But sales are down by 5.3 percent annually in the East compared to 0.6 percent in the West. The interminable Brexit malaise has surely had an effect. Banks and other businesses in the City, the financial area in Central London, located a short distance from more affluent areas in East London have laid people off and relocated elsewhere in Europe. The West, conversely, has businesses and attractions not so directly effected by Brexit. In addition, new developments such as White City, a former baron industrial area turned luxury residential, shopping and media hub, have take the kind of cool, hipster crowd that would have previously set up shop elsewhere. 

The effect of the White City development can’t be overstated. Previously known at the headquarters of the BBC, the old iconic doughnut shaped building was cherished by much of the nation as it was often shown on TV. The BBC left in 2013 and the building, rather than being razed has been converted into luxury condos or flats as they are known in the UK, along with 400,000 square feet of commercial and retail space. These include 432 residential units. Prices for the residences start from £725,000 (US$969,659) for a one-bedroom unit; £960,000 (US$1.28 million) for a two-bedroom; £1.625 million (US$2.17 million) for a three- bedroom; and £6.25 million (US$8.35 million) for one of the Television Centre’s three penthouses. Residents began moving in last December.

Also located in the building is the members only Soho Club, a 45-room hotel and upscale restaurants, bars and movie theaters, while the BBC have reopened 3 historic studios with state-of-the-art facilities.

Additionally, Westfield, a mall, which first decamped to the area in 2008 has expanded to become the largest shopping area in Europe. Its theory, that accessibility to the heart of buzzing West London meant that overlooked White City was a gem in the making, has proven true.

Along with the media and and creative types, the tech industry is trying to add weight to the west. London’s tech center is currently based around Old Street’s Silicon Roundabout in East London. However, London’s Imperial College has pledged to invest £3 billion in a new postgraduate campus north of Shepherd’s Bush with a focus on commercial applications for advanced blue-sky research.

Professor Alice Gast, president of Imperial College London, said: “At our White City Campus, we are building a dynamic environment where academics work alongside corporate and community partners to drive discovery, promote entrepreneurship, inspire young people, and develop solutions to some of the most pressing challenges of our time.”

It’s not as if East London, though has suddenly become an unattractive place to invest. Earlier this year, proposals were approved for Berkeley Homes for one of the densest housebuilding projects in the capital, with nearly 4,000 new homes to be developed in an area known as Canning Town, known as being traditionally working class. 

While the more affluent parts of East London may have taken a hit recently, the area is unquestionably more affordable than West London. With much of London still beyond the reach for many, the Canning Town project is a viable path to homeownership for residents.

“It is no secret that it will take many years to fix London’s housing crisis, and we ultimately need government support – but schemes such as this prove that we can make a real difference now by delivering high-quality neighborhoods with a large proportion of genuinely affordable homes,” said London’s Mayor Sadiq Khan, of the Canning town development.

The post A Tale Of Two Cities: West London Surges While East London Falls In Properties Sales appeared first on Haute Residence by Haute Living.

Rumors are already circulating that the star has already picked a residence. The Italian press have shared pictures of a currently vacant three floor mansion, which has eight bedrooms and an indoor pool. People familiar with Ronaldo’s current and soon to be former home outside Madrid, might be shocked at his potential new Turin HQ. It’s old! Of course, that’s par for the course with a historic city where luxury real estate consists of centuries old mansions and villas. The modern, sparkling homes that elite soccer stars around the world usually prefer aren’t featured in Turin’s luxury listings. 

If the mansion does turn out to be CR7’s home of choice it will have to undergo some serious updates and furnishing. The old, refinished parquet floors will probably be covered with luxurious rugs. The white walls need to be given a lick of a more contemporary hue. Ditto for the lights. Ronaldo, as many know, is a fitness fanatic and his Madrid home has a top-notch gym and indoor and outdoor pools as well as an outdoor soccer field. How he’ll replicate that in his new place remains to be seen.

However, Ronaldo’s interest in the property is understandable considering who its past occupants were. His former boss at Real Madrid, Zinedine Zidane was a former inhabitant as was Italian World Cup winning captain Fabio Cannavaro.

The mansion, located in the foothills of Turin, may only be a temporary home for the Portuguese icon as it was recently offered for an unbelievable $50,000 a day to rent according to The Sun newspaper. Even on Ronaldo’s staggering $500,000 a week, that wouldn’t make much sense as a long-term rental. It would be far most cost-effective to buy a home.

Many have posed the question as to why Juventus would spend so much money for a player, albeit a brilliant one, who is soon to be 34, and  in the twilight years of his playing career. The reasoning, it appears, may be as much for what Ronaldo can bring to Juventus’ off the field as on.

Juve is owned by Fiat motor owners, the Agnelli family, through Exor, the investment holding company, which links club and car. Fiat workers planned a strike, brandishing anti-Ronaldo posters over the massive investment in the player, which could, they argued, be reinvested in the company. In the past Fiat and luxury sports car, Ferrari were business partners and Ronaldo is according to the BBC, set to be a global representative of Ferrari. 

Obviously Ronaldo’s Juventus shirt sales will go through the roof but that is just the start of a cavalcade of money spinning tie ins.

“The marketing leverage that Juventus will be able to create will be significant,” Rob Wilson, of Sheffield Hallam University told the BBC.  “Added to that the likelihood that he will strengthen the team, it seems plausible that they will be more successful domestically and qualify routinely for the Champions League. That means more sponsors, more TV money and more prize money.”

But first Ronaldo has to move into his new home.

Top Image: Shutterstock.com

The post A Look At Christiano Ronaldo’s Reported New Home In Turin, Italy appeared first on Haute Residence by Haute Living.

The city, which sits on an archipelago in the Persian Gulf, off the coast of the Arabian Peninsula is made up of 80 percent expats for a reason — low taxes, or rather no taxes. Foreigners, reflected in the city’s cultural diversity, pay no income, capital gains or inheritance tax. For Brits, there’s an added bonus: a tax treaty signed between the UAE and the UK in 2016 means that UK pension holders over the age of 55 living in the Emirates can withdraw their entire pension tax free providing they have living in the UAE for at least 5 full tax years.

This has caused a boom in wealthy foreigners looking to call the place home and keep their tax dollars/pounds in their bank accounts. Property broker JLL estimates that as many as 34,000 homes could be completed in 2018 with another 28,000 due in 2019.

 Much of the exuberance is due to Expo 2020, a global destination for new ideas and innovation (business, transport, sustainability). A world expo happens once every 5 years and lasts for 6 months. An expected $8 billion is being spent on Expo related projects driving a infrastructure boom, with $2bn-$4bn invested in developing the Expo site. The event is expected to attract up to 300,000 visitors a day when it opens. Standard Chartered, the international bank, has predicted it will also create around 300,000 new jobs and attract new residents in the emirate city, which currently has a population of three million.

"Expo2020 will undoubtedly increase global interest in the UAE, with the eyes of the world focusing again on the incredible development of the country," said Andrew Cummings, co-founder and managing director of LuxuryProperty.com.

Whether the Expo has a long-term effect on real estate values and investment, however, remains to be seen. If the last few Olympics are anything to go by, it’s effects at the residential end tend to be short-lived. 

Of greater appeal to wealthy expats looking to call the UAE a second or even first home is the climate. It’s built on a desert so it never rains, which is good and bad. Bad for natural vegetation and water supply, good for getting a tan. To quote the Financial Times, “at just 75mm, the average annual rainfall in the desert would barely fill a coffee mug.” Winters are warm but summers are blistering meaning long months inside air-conditioned buildings is a must.

Luxury condo residences tend to be within larger business and retail centers such as the popular condos offered at the Four Seasons Hotel Abu Dhabi, (still under construction) within the Al Maryah Island development. Online searching showed a number of new single family homes priced with the $5 million to $20 million range. At the private Zaya Nurai Island, modern upscale residences, such as the Water Villa, offer a lifestyle that exemplifies the pinnacle of real estate here.

With prices in the UAE recently edging up and the the area making great strides to establish cultural attractions such as the Louvre Abu Dhabi, the largest art museum on the Arabian peninsula and a sister to the Parisian landmark, which recently opened its doors, real estate professionals are feeling confident about the city’s lure to investors.

Golf enthusiasts have their choice of three pristine championship courses carved out of the peninsula’s sand dunes: Abu Dhabi Golf Club, Saadiyat Beach Golf Club and Yas Links Abu Dhabi. Soccer is also extremely popular in Abu Dhabi with a number to professional teams playing in newly built stadiums and top European clubs starting soccer schools in the area for young players. Buoying this is a new U.A.E. backed program offering potential buyers the opportunity to extend their visa by 10 years with a property purchase, which could have a huge impact driving sales and rental prices upward.

"Whilst we anticipate an increase in interest in real estate, the real boost to the sector will come [...] from the governments recently announced changes to regulations that will permit 10-year investor visas and 100% foreign ownership of companies" said Cummings. "We have already seen an uptick of interest in the market since the announcement and expect this to increase as implementation of the regulations come into effect."

For real estate opportunities in UAE, contact Haute Residence partner Andrew Cummings of LuxuryProperty.com.

The post Why Luxury Abu Dhabi Real Estate Is A Magnet For Foreign Investors appeared first on Haute Residence by Haute Living.

Eco friendly residential buildings have been around for a while. Natural light, non-toxic paints, soundproofing, plants and gyms are all standard in mid- to high-end condos and newer homes these days.

According to researchers at the Miami, Florida-based Global Wellness Institute, as discussed in Mansion Global,  the international wellness real estate market is now a $134 billion industry. And if new developments are anything to go by, it’s about to get bigger. Leading the world is the US with a $52.5 billion market share. Some higher end condos now offer water filtration and air purification systems, in house restaurants serving gourmet, healthy food and add on services in gyms and meditation rooms to cater to weight-loss wellness needs.

The 120-acre Canyon Ranch resort in Lenox, Massachusetts, which consists of 19 new condos, has a phalanx of wellness services (on-site physicians, nutritionists, exercise physiologists, behavioral counselors and spiritual wellness experts) to help residents. A membership factoring in all this starts at $9,000 per year per person or $12,000 for a couple. Located in the mountainous Berkshire region of Massachusetts, one- and two-bedroom units are priced between $1.35 and $3.5 million and just over half of the 19 have been sold. With kayaking, hiking and outdoor yoga available, the retreat is a perfect summer get away for those who can afford it. Some are also making it their full time residence. The same company, has a larger development in Tuscon, Arizona, where the weather favors year-round occupancy.

Last year Deepak Chopra, endocrinologist-turned-entrepreneur entered into a collaboration with the wellness design firm Delos and real-estate firm Property Markets Group (PMG) to build a 68-unit luxury tower in Sunny Isles Beach, next to North Miami Beach. Two penthouses there cost $18.5 and $19.5 million. Though the trend in Miami has been for real estate developers to partner with lifestyle brands such as car or fashion companies, utilizing Chopra’s credibility to sell real estate is a first. According to the press release for the project these new “exclusive wellness residences…will focus on three core wellness principles: air, water, light and sleep.” In the Delos building at 66. E 11th St. in Manhattan where Chopra lives there is “vitamin C-infused showers for hair and skin health; circadian lighting, posture-supportive flooring system” and a surface coating, “which destroys bacteria.”

Also in Miami at Singer Island, is Amrit Ocean Resort & Residence, a 351 condo & hotel room development where offerings start at $700,000. Upon its 2019 projected completion, features will include pressure point-targeting flooring for posture support, built-in aromatherapy diffusers for mood enhancement along with the now obligatory vitamin C showers and circadian lighting. There will also be on-staff nutritionists and round-the-clock mobile access to a “wellness assistant,” to keep homeowners and guests on top of customized diet or meditation plans.

The wellness residence trend is permeating across all luxury condos. In Zaha Hadid-designed 520 W. 28th St., (a five-bedroom penthouse was listed for $50 million), buyers can dip into a saline pool without the irritation to skin or eyes that chlorine causes. They can also breathe cleaner air, thanks to high-grade filters in heating and cooling units that remove outdoor pollutants and odors. 

But can simple upgrades to a home provide many of the same benefits without the exorbitant price tag? A vitamin C-infused shower kit is available on Amazon for $35. Air purifiers are nothing new and are available for under $500. Similarly plug in aromatherapy diffusers, whole house water filters and LED lights are all easily available and relatively cheap.

“People want privacy, they want security, they want to feel like they’re in a sanctuary and they want like-minded people,” Terra President David Martin — a developer of Eighty Seven Park told the NY Post.  It’s Soul Center Spa, debuting in 2019, will have a full-time nutritionist, health coaching and a “brain fitness” program, offering classes on memory improvement and relaxation. “More and more people want to live healthier and they want their families to be around that, too.” But how much they are willing to pay for it is another question.

The post High-End Condos Are Touting Wellness As Their Newest Amenity. Here’s What Buyers Get appeared first on Haute Residence by Haute Living.

Records show that Tyler only purchased the investment property earlier this year for $15 million before deciding to flip it for $17 million. However, the potential profit was eaten away when he sold it to Williams for $15.6 million, bearing in mind legal fees and transfer taxes associated with the deal. Williams, whose hits include “Happy” (from the movie Despicable Me 2) and “Blurred Lines” which he wrote for Robin Thicke, amongst many others, paid $7.14 million in 2015 for a six-bedroom, five-full-bathroom LA home above Laurel Canyon. Like his new investment, it also features a wall of windows.

The house contains 10 bedrooms and 11 bathrooms over two floors. In total, the interior of the property is an echo inducing 17,245 square feet with a total lot size of 4.25 acres. Clearly it’s not the kind of place to hide and be incognito. The amount of glass, steel, stone, concrete and hard angles give his newer purchase a rather cold aesthetic and it’s hard to imagine someone calling the place home on an ongoing basis, let alone raising a family there (Williams and his wife, Helen Lasichanh have four children, including triplets). Even the five fireplaces won’t warm it up. Adding to the frosty feeling are the sets of striking marble stairs connecting the three floors and the oversized crystal light hanging over the dining table.

Like Perry before him, chances are Williams will use the property as an investment, a place to park his money. It’s the ultimate party pad and don’t be surprised if it shows up in a future video or two from Pharrell or his pals. Other amenities include a stone-lined pool a grotto, a la Playboy mansion, slide, a below-grade tennis court with night lights and a carport that can hold no less than 30 vehicles (woot! woot!).

Pharrell has been writing hit songs for the like of Beyoncé, Britney Spears and Jay-Z for years. In addition he has fashion brands and regularly collaborates with companies such as Adidas, Louis Vuitton, G-Star Raw and Uniqlo. The artist who originally hails from Virginia Beach, was a judge on NBC’s The Voice for four seasons, appearing alongside Blake Shelton, Adam Levine and Christina Aguilera, before leaving in 2017. According to Celebrity Net Worth, Pharrell Williams’s ledger bulges to the tune of around $150 million (£107 million).

Much of that wealth has been spent on real estate. In 2012 he unsuccessfully attempted to sell his Miami, Florida estate in the coveted Coral Way neighborhood for $16.8 million. He tried again to offload it in 2013 for $14 million before dropping it to $10 million, according to trulia.com. The property was then pulled off the market for renovations before the musician found a buyer at $9.25 million — a loss of $3.27 million.

Williams net worth is dwarfed, however by Tyler Perry’s, which is estimated to be somewhere in the region of $600 million. Reason enough for the filmmaker and actor to build a massive 34,000-square-foot mansion on 1,200 acres, near his film studio in Georgia. Perry plans to use part of his extensive acreage for an organic farm.

Two years ago, Architectural Digest featured Perry’s former residence, a French Provincial-style manor, which sold for $17.5 million, breaking the city’s record for most expensive residential sale. The Atlanta Business Chronicle noted that Perry’s home, built in 2008, was set on 17 park-like acres along the Chattahoochee River. Must be nice.

The post Inside Pharrell Williams’ New Home, Tyler Perry’s Former LA Mansion appeared first on Haute Residence by Haute Living.

Annual property taxes for the residence are over $1 million. Recent comps are $15 million lower — two properties, which sold for $85 million within the last 18 months. The area once known as a getaway for Hollywood celebs has become a haven for tech and business billionaires. In fact, one of the area’s most prolific investors is Oracle founder Larry Ellison who has amassed a fortune in prime real estate and helped drive prices up around Carbon Beach.

Michael Smith’s new home, which comprises two parcels with two structures, is sandwiched between two Ellison properties on a half acre with over a hundred feet of beach frontage. It has 8,000 square feet of living space, including seven bedrooms and nine bathrooms. Yes, it’s price is staggering. But everything is relative. 

“There are never going to be that many giant sales [in Malibu], because there are only so many homes that have a lot of beachfront and multiple parcels," Jack Pritchett, co-founder of Malibu-based brokerage Pritchett-Rapf Realtors told the LA Times. "We can say $110 million is a joke, but you can't find multiple-lot properties like Morton’s."

The seller Morton was no newcomer to the area. He acquired his two properties over the previous 30 years paying a comparatively low $5.6 million for both, hiring architect Richard Meier to reconfigure the compound, covering it in teak, facing wrap around balconies towards the ocean.

Malibu’s previous record sale occurred in 2017 when billionaire entertainment industry vet, David Geffen (founder of Asylum, Geffen Records & co-founder of DreamWorks), sold his Carbon Beach residence to LA Dodgers Owner and Guggenhein Partners CEO Mark Walter for $85 million.

The LA market has been on fire recently with some astronomical asking prices — such as $200 million for The Manor, a 56,000-square-foot, 123-room mansion built by television producer Aaron and Candy Spelling and currently owned by Formula One heiress Petra Ecclestone. In 2016, Hugh Hefner’s Playboy Mansion sold for $100 million, which was the previous highest sale in LA County.

However, when a super-high-priced homes hit the market, sellers have to be prepared to wait for the right buyer or reprice. A huge Bel Air mansion hit the market last year for $250 million. No buyers materialized and now the property has come down by $62 million.

Undoubtedly, the most outlandishly priced LA home is a place named The One, built by luxury developer Niles Niami. Price tag: $500 million. In a story that seems scripted around the 2008 financial crash, such ostentatious real estate is even out of the price range of most of Hollywood’s elite, attracting a select few tech billionaires. It all seems a little obscene when LA Country is undergoing a housing crisis with the homeless population rising about 57,000.

“Anyone who buys one of my homes is making a statement about who they are. These properties reflect LA living at its finest,” the 50-year developer, whose other clients include Sean Puffy Combs and the Winklevoss twins, (of Bitcoin fame), told The Guardian newspaper.

Haven’t we seen this all before?

The post LA Real Estate Hits Overdrive With $110 Million Malibu Sale appeared first on Haute Residence by Haute Living.

La Mamounia

The Moroccan city has a rich history as a hub of Muslim culture, a driving economy, palaces and gardens. More recently tourism has been a big draw. Architects Antoine Marchisio and Henri Prost erected the luxurious La Mamounia hotel in 1929, which hosted a slew of world figures and artists included Winston Churchill and Josephine Baker. In the 1960s, it became an epicenter of the hippy movement with rock stars and western travelers descending on it. The current Morrocan King, Mohamed VI has the goal of increasing the number of tourists visiting Morocco to 20 million a year by 2020.

However, a fear of travel for Americans inside Muslim countries has probably deterred some wealthy US citizens from visiting. That’s not the case with international visitors. According to Mansion Global, current residents at La Palmeraie include the Emir of Qatar, whose vacation home reportedly cost $117.7 million. Marella Agnelli, widow of Fiat chairman Gianni Agnelli, and Dominique Strauss-Kahn, the former director of the International Monetary Fund, are also homeowners. Fashion magnate Patrick Guerrand-Hermès spends part of the year in Morocco, and founded the Royal Polo Club de la Palmeraie.

Unlike ultra exclusive resorts like Dubai’s The World, which became unstuck during the financial crash, La Palmeraie entertains not just those of extreme wealth but moderate wealth, too. Properties can range from over $100 million to $1 million for a small villa. Building styles combine tradition Moroccan/Islamic designs with modern European flourishes  and subdued color tones. Other than the weather and proximity to Europe, the big draw for the elite is the lack of taxation and low property taxes (around $3,500/year for a large home).

Kasbah Tamadot at dusk / photo courtesy of www.virginlimitededition.com

Buying, though, is not  a prerequisite to staying in the city. As per the King’s mandate, there are no shortage of luxury hotels. One of the best known is Virgin head, Richard Branson’s Kasbah Tamadot, which was voted Best Resort Hotel, North Africa and the Middle East in the Travel + Leisure World’s Best Awards 2017 readers’ survey. Branson’s move in the city was a prescient one. According to financial news site medias24.com, Marrakech closed 2017 with a record number of 2.5 million tourists, which increased 20 percent compared with 2016. November and December were peak months. Germans made up the greatest number of tourists at 56 percent, French visitors were next with 19 percent growth, followed by Spanish, Scandinavian and locals. The increased number of flights, from 245 flights weekly in 2016 to 361 in 2017 was a big reason for the bump in tourism.

For Jewish Americans wary of stepping foot on Muslim soil, The Times of Israel reported that the Jewish quarter of Marrakesh has also seen a revival after many Jews left for Israel and Europe in the 1950s. They are now returning en-masse (around 50,000/year) as tourists to visit historical Jewish sites, though only a handful, perhaps 100, of permanent Jewish residents still reside in the quarter. 

For those who can’t afford the the glamorous life in Marrakesh, Airbnb has noted phenomenal success with 21,000 active listings earning $22 million last year.

“These travelers are seeking authentic, local experiences across the continent," said Airbnb spokesman Bernard D’heygere. 

Top image:  The Majorelle Garden, shutterstock.com

The post Tired Of The Hamptons? Try Marrakech – The Latest Hotspot In Luxury Living appeared first on Haute Residence by Haute Living.

“Things are changing in L.A.,” Cory Weiss, president of western region development marketing for Douglas Elliman real estate told the Wall Street Journal. “People are flocking to new developments in areas where they can walk.”

While the age-old image of a house in the hills with a pool is a popular one, it is being challenged by that of “vertical living.” A cluster of new pricey condos rising skyward around Sunset Boulevard and the newly gentrified Downtown L.A., the Ian-Schrager-designed West Hollywood Edition, houses 20 condos atop the boutique hotel chain. Starting price is $5 million.

According to “walk scores,” ranging from 1 to 100 that Redfin calculates for neighborhoods, areas that see a boost in walkability from a score of 60 to 80 add an average of $129,000 to a property’s value.

Outside of downtown and Hollywood, neighborhoods in greater LA are touting their walkability. One of the best known is Old town Pasadena, which has a walk score of 87 out of 100. It’s become a key selling point in a hot real estate market where you “can be in your residential neighborhood and take a short city walk and you’re in the middle of town,” said the L.A. Times’ Jonathan Gold. New luxury condos like Villas at the Ambassador Gardens used the “lock and leave” lifestyle in their marketing material.

“Homeowners who have larger, older estate properties now want less maintenance,” but without losing the luxury touches they’re accustomed to, said Coldwell Banker Residential Brokerage sales associate Wendy Walker. “They also want to minimize the upkeep and maintenance expenses associated with the larger estates and the grounds.”

Downtown LA still has the highest walkability score. Its median home price was $679 per square foot in March, much higher than the citywide median of $449 per square foot.

Surprisingly, though known for its car culture, LA is the 13th most walkable city in America according to Walk Score. Certain residential LA neighborhoods such as Bel Air, which doesn’t have sidewalks, obviously don't score as high as those that do. Other high scorers for walkability, according to the site, were MacArthur Park/Westlake (Score 91), Central Hollywood (Score 93), Koreatown (Score 91) and Fairfax/Beverly Grove (Score 90).

Nonetheless, LA remains a city rooted in residents’ ability to drive. Change to a more pedestrian-friendly environment depends not just on developers but city planners greenlighting an expanded rail system. 

In 2012, with funding from Metro, the LA launched its Transit Neighborhood Plans (TNPs). Its aim is to refine current zoning and street design around transit stops. The city is concentrating on neighborhoods that will be served by transit lines currently under construction.

“The ultimate goal is to foster transit ridership and to reduce greenhouse gases and improve air quality,” said Patricia Diefenderfer, a city planner working on the TNPs. “We’re looking at how to create more capacity for housing and jobs. We’re trying to create environments that are more friendly for walking.”

Top image: shutterstock.com

The post Walkability Is The Big Thing In LA Real Estate: Is It Becoming More Like New York? appeared first on Haute Residence by Haute Living.

According to the deed filed with the county and accessed on Property Shark, Mr. DiCaprio closed on the home in March using a trust. He has numerous high-end properties, most of which are rented out, in the Los Angeles area. Seller Moby took two years to rehab the 4,644-square-foot, 1920’s manor-style home which is referred by listing agents, Patrick Martin and Gwen Banta of Sotheby’s International Realty as “Moby’s Los Feliz Masterpiece.” The rehab, while well done, is nothing spectacular. White walls, a white kitchen and light wood flooring are offset by stonework and bean pool outside. The property sits on a quarter-acre lot in hillside neighborhood of Central L.A. behind a thicket of trees and hedges.

Courtesy www.sothebyshomes.com

DiCaprio has proven to be a voracious real estate investor and his properties range from high-end New York condos to suburban LA area family homes. The property was on the market for only a few weeks when he snapped it up in March. Moby paid $3.4 million for it two year prior. According to the Los Angeles Times, the actor purchased the home for a family member and won’t be living there. Lucky family member.

DiCaprio seems to collect homes like he does supermodels’ phone numbers. A few of the prized pieces in his property portfolio include a Hollywood Hills compound he purchased in 1994 for $4 million (it’s actually two side-by-side properties, one of which was purchased from Madonna for $2 million) and which he has rented to actor pals.

A beach bungalow was purchased in 1998 for $1,775,000. The modest three-bedroom two-bath home with 1,765 square feet also has a deck, hot tub and views of the Pacific. The actor listed the home in September for $10.95 million before trimming a million off the price and then taking it off the market deciding to use it as a rental.

He also owns a Battery Park condo, which he first purchased in 2008 for $3.67 million and then the unit next door in 2014 for $8 million. "Riverhouse, One Rockefeller Park," 2 River Terrace in Battery Park is a building filled with eco- and health-conscious amenities. Filtered water, air, a yoga studio and more have seen fellow celebs like Tyra Banks and Oliver Stone take up residence.

The 43 year-old A-Lister also has a 7.022 square-foot Palm Springs pad, which he purchased in 2014 for $5.2 million. It’s old-school Hollywood glam: Built in 1964, the six-bedroom, seven-and-a-half bathroom spread had a guesthouse, pool, gym, tennis court and mountain views. It’s currently a vacation rental priced at $3,750/night.

Courtesy www.businessinsider.com

By far the most impressive piece of real estate in the DiCaprio portfolio is one of his cheapest. He purchased an island near Belize in 2005 for $1.75 million. Blackadore Caye is being developed along with partner Paul Scialla, into an eco-friendly resort and is due to open this year. Initial renderings show it to be top-notch luxury. But the place will serve more than Michelin-rated food. The idea in buying the island was to preserve its ecosystem.

"We don’t want to just do less harm or even have zero impact, but to actually help heal the island, to make it better than before," Scialla told the New York Times. A worthy cause, at a lofty price.

The post House Flipping Hollywood Style — Serial Investor, Leo DiCaprio Buys Moby’s Transformed Home appeared first on Haute Residence by Haute Living.

The construction of One57 at 157 W 57th St in 2014, saw the term “Supertall” (referring to anything over 1,000 feet) first bandied about. When others of a similar ilk — 432 Park Ave., 53 W 53rd, and 220 Central Park South — also took to the skies, a pattern started to emerge and the name Billionaires' Row started to stick.

The ceilings on height were not only being shattered but along with them, sales numbers, too. Recently, Michael Dell, founder of the computer giant, reportedly spent $100.47 million on his One57 penthouse, making it the most expensive home purchase in New York to date. Word has it that 220 Central Park South, still under construction will host a $250 million quadruplex penthouse. Already topped out is the 53W53. Skyline neighbors include 432 Park Avenue and 30 Hudson Yards.

One of the newest members to this fraternity is the yet to be completed, Central Park Tower, at 217 West 57th Street, which is due to reach 1,550 feet. Many of the apartments will be asking more than $20 million.

Detractors often cite quality of life for the average New Yorker on the street  as an issue. The buildings cast huge shadows down below and traditionally have required enormous amounts of energy to heat and cool. Also as the sales numbers increase, the figures filter down through the rest of New York real estate and into the outer boroughs. Already cited as a city for the rich, the disparity between rich and poor increases.

432 Park Avenue

Amenity wise, as you would imagine, the super rich in the supertalls have everything imaginable. Pools, spas, gyms, wall-length aquariums, lounges, screening and performance rooms, dining and conference rooms make these hotels in the sky. But many would argue what’s the point of living in New York, the vibrancy, the neighborhoods and culture when you are closeted away in the clouds? If you have an apartment on Billionaire’s Row, that’s probably not your reason for owning NY real estate.

Who can actually afford these buildings? Clearly popping into your local high-street bank and asking for a mortgage on a $100-million condo isn’t going to work. Many of the sales are, unsurprisingly for all, cash purchases with foreign investors looking for a safe haven to park their money in a market, which historically has only ever gone up in value. Many of the condos often stay vacant for much of the year.

The advent of advanced architectural technology to counteract the effect of high winds means that supertall towers are not only here to stay but may be destined to go even higher. 

Chicogo-based architect Adrian Smith, who along with his partner, Gordon Gill, has formed one of the pre-eminent architecture firms with expertise in designing supertall towers such as the Burj Khalifa and Jeddah Tower (the world’s tallest) in Dubai feels, naturally, that going higher can only be viewed as a positive.

“The supertall tower can be a symbol of success and optimism for the future of any city.,” he told  curbed.com. “If cities don’t continue to build and improve their conditions, they will usually go into decline…I think the visionary leaders are saying, 'Build it right and they will come.'” 

Even if they don’t stay.

The post Super Tall And Super Expensive — Why NYC’s Luxury Buildings Keep Reaching For The Sky appeared first on Haute Residence by Haute Living.

Albany

Culturally and climatically, Albany and Silicon Valley couldn’t be further apart but all the indicators allude to the fact that big things loom for NY’s state capital. Firstly, as CNBC noted the city’s number of tech jobs grew 161 percent between 2016 and 2017. Like the city itself, the start-ups weren’t sexy. They didn’t bask in pop-culture credibility, but rather in the nuts-and-bolts health and education sectors. The area is surrounded by as many universities as it has snowfall during the winter. It also benefits from New York’s sizable $1.4 trillion GDP and well touted tax breaks for new businesses. And what’s more, what you would pay for a garden shed in Silicon Valley could buy a mansion near Albany.

Atlanta

3509 Tanners Mill Circle, Gainesville, GA 30507 is listed for $16,500,000 by Haute Residence partner Debra Johnston

It’s one of Amazon’s top 20 HQ candidates and last year Forbes described it as one of the top five “US cities poised to become tomorrow’s tech meccas.” It’s got the population (close to half a million), the climate and is fairly cheap to live in. Throw in universities, an international airport and all the other franchises, businesses amenities (sports, commerce, CNN is based there) and Atlanta is a great place to live and work.

For more information on Atlanta's real estate market, contact Haute Residence partenr Debra Johnston.

Pittsburgh

Since the steel industry's collapse in the ’70s and the population exodus in the ensuing years, Pittsburgh has been the poster child for renewal through technology. A big draw has been Carnegie Mellon’s highly respected computer science program leading to Google basing a campus there which has since been significantly expanded. According to CBRE's annual Tech-30 Report, the city's technology talent pool expanded by 31.4 percent from 2015 to 2016, placing it third overall behind San Francisco and Charlotte. Housing is very affordable — the median price is $135,465 — and it has well-established medical, banking and sports franchises and room for a rapid population increase, which would happen if Amazon decides to base its HQ there as many in Pittsburgh’s real estate industry hope it will.

Cleveland

Like nearby Pittsburgh, Cleveland has re-invented itself from its blue-collar roots to a progressive tech hub.  The highly regarded Cleveland Clinic is a center of innovation for the area. The city’s Health-Tech Corridor Director, Jeff Epstein told Forbes why he thinks tech companies should be based there:

"Cleveland is a prime location for innovative health-tech and high-tech companies. The heart of Cleveland is a leading biomedical, health-care and technology region. It offers easy access to clinicians, researchers and state-of-the-art lab infrastructure inside world-class institutions. The cost of living is 30 percent to 60 percent lower than that of Boston, Silicon Valley, and NYC.”

Detroit

If you haven’t heard, once much maligned Detroit is enjoying the kind of revival that would put many of its Baptist churches to shame. But this is real estate not the Holy Ghost. Old buildings are catching the renovation spirit and going from grit to glitz. And business appears to be booming along with construction. The New York Times reported that only 7 percent of office space is vacant today compared to 30 percent a decade ago. And, at the tail-end of 2007 Ford Motors announced it would use downtown Detroit to base its self-driving and electric car development. 

Like other Mid-West cities, Detroit’s phoenix has risen thanks to the tech sector with the field growing by 55 percent or more between 2011 and 2016, according to CBRE. And despite the construction boom, housing is still incredibly cheap.

Kansas City

Kansas City is already being dubbed “Silicon Prairie.” ZipRecruiter analyzed that network engineering and web development jobs in the area increased by 157 percent year-over-year in 2016. The median pay for mid-career tech jobs is around $90,000 a year. Pretty good considering the median house price is $189,000 and the median rent $900/month. Twenty percent of the city’s population are well educated with tech workers making up 5 percent according to a 2017 report by the Ewing Marion Kauffman Foundation.

Philadelphia

1 Firethorn Lane, Malvern, PA 19355 is offered at $1,997,500 by Terese Brittingham and Tom McCouch

Aside from the fact that it’s an already established major city with everything that comes with it — prestigious universities, transportation, businesses and sports franchises, Philly has made huge strides in gene therapy to battle cancer. Spark Theraputics CEO Jeffrey Marrazzo told Philadelphia Magazine, "I can make the argument that Philadelphia has the greatest concentration of foundational research in gene and cell therapy in the world.” Employment portal Dice stated that Philadelphia had the highest year-over-year growth for tech salaries in 2017, bettering Silicon Valley itself.

For more information on the real estate market in Philadelphia and larger Pennsylvania, contact Haute Residence partners Terese Brittingham and Tom McCouch of Keller Williams Realty Group.

Phoenix 

While the weather and tech sector might be hot, the house prices in Phoenix are not — $227,849 according to Zillow, an increase of 10 percent over the past year. They are predicted to rise a further 4.3 percent next year. What has skilled workers arriving at Phoenix in their droves is the city’s staggering 188 percent one-year increase in tech jobs between 2016-2017 with companies such as General Dynamics, Datashield and MST Solutions being the big employers.

Salt Lake City

Salt Lake City is a city known for start-ups. In fact, Entrepreneur reported that Salt Lake’s fledgling tech businesses had a value of $12 billion as of mid-2017. It ties in to the U.S. Chamber of Commerce’s No. 1 ranking for Utah for innovation and entrepreneurship and No. 2 for high tech performance in 2017.

Tampa

204 Harbor View Lane, Largo , FL 33770 is offered at $9,995,000 by Jennifer Zales

Even tech types are vulnerable to celebrity pixie dust and when that pixie dust is being sprinkled by one of their own — Bill Gates —everyone pays attention. Gates, along with business partner Jeff Vinik, plans to invest billions of dollars to make Tampa tech incubator, or as Forbes described it, "a model city of the future.” According to CNBC, 200 new residents flock to the city each day. Couple this with noted research institute, The University of South Florida and a median house price of $172,000, which is considerably cooler than the climate, and expect the number of Tampa transplants to increase. 

For more information on Tampa's real estate market, contact Haute Residence partner, Jennifer Zales.

The post As Silicon Valley Luxury Real Estate Soars, These Tech Centers Are Pretenders To Its Throne appeared first on Haute Residence by Haute Living.

Lisbon, Portugal

Top of everyone’s list in Lisbon, Portugal. It’s not the fact that Madonna has settled there while her son attends the famed Benfica soccer academy. It’s because since the financial crash of 2008 when Spain and Portugal teetered on the brink of collapse, Lisbon has become one of the most affordable capitals in Western Europe. Teeming with historical property, government grants to renovate and a vibrant tech start-up scene, prices rose by 4.9 percent on the year to November 2017,  according to Global Property Guide. Prices have now risen to roughly $475/per square foot.

“This latest demographic wave of international investors very much want to live in Lisbon,” Ricardo Sousa, CEO of Century 21 in Portugal told Forbes. “The French were the ones who originally used to get on the plane to spend weekends in Lisbon but now demand is becoming more and more diversified and the profile is shifting. Investors with half-a-million euros or above are looking at the city center and its historical heart, as well as the Expo area, which is very popular with Asian investors and there is a lot of land.”

Northern Europeans looking for luxury digs have also flocked, drawing comparisons with Miami in the Guardian while ringing the alarm bells of gentrification.

Côte d’Azur, France

France’s Côte d’Azur has always been known for upscale luxury. The sort of place James Bond would join an international arms dealer on his yacht. A new report by Savills shows that the hot spot on the French Riviera continues to be a prime destination for the global wealthy to park their cash. A high inventory of luxury property allows buyers room to negotiate, often with a  10 to 30 percent discount. It’s not cheap — about $2,867 to $3,440 per square foot.

“The region offers a desirable lifestyle but also the benefits of city living with high-end retail, restaurants and a full social calendar,” said Alex Balkin, head of Savills French Riviera in their 2018 report on the Mediterranean region “This makes it appealing to a new wave of young, globally-mobile high-net-worth individuals looking for high specification homes that are ready to move into.”

Algarve, Portugal

When it comes to resident expats, the Algarve has 100,000 of them. It’s affordable, sunny and surrounded by 100 miles of shimmering Atlantic coastline and striking cliff-top vistas. Oh, and did I mention it’s cheap — around $450 per square foot. Don’t expect it to stay that way.

Istanbul, Turkey

With half of Istanbul’s population under 30, this is a vibrant, growing economy at the cross-roads of Europe and Asia. House prices are cheap and cash is flooding in as older buildings are being renovated or replaced with sparkling new apartments. With real estate at around $320 per square foot, it’s a great time to ride the Istanbul property wave.

Barcelona, Spain

The Catalan crisis seems over and Barcelona house prices are once again galloping off into the sunset. According to the property price index published in early December by the Spanish Statistical Institute (INE), Catalonia prices are rising at 10 percent — the second highest rate on record for the region and close to the over inflated numbers pre-2008 crash. Expect to pay many millions of dollars to live in luxury. Driving the price hikes is tourism, with many investors buying homes to let, Airbnb-style, as short term rentals to visitors. This, in turn, is increasing house prices for locals. It’s a gorgeous city with scenic views, a world famous soccer team and prices to match.

The post 5 Sun Drenched European Cities Experiencing A Luxury Property Boom appeared first on Haute Residence by Haute Living.

Amongst the plethora of famous faces hawking their goods at a mall near you are the following:

Ellen DeGeneres

Comedienne and dedicated house flipper, Ellen has furniture, rugs, tableware and more and will presumably use them to stage her homes. In a partnership with Thomasville, Loloi and Royal Doulton respectively, DeGeneres opts for sophisticated designs, which focus on earth tones and textures.

“I’ve loved home design for as long as I can remember,” the entertainer told Elle Decor. “I know what I like, so designing it made sense for me.”

Joanna Gaines

Okay, so this isn’t exactly a stretch. The photogenic half of Fixer Upper is bound to have her own line of home goods. These include wallpaper, paint and rugs available at Pier 1. In addition she has a huge destination retain store, Magnolia Market in Waco, Texas.

Tracee Ellis Ross

The Black-ish star has a clothing line available at JC Penny with a few home accessories thrown in — such as throw pillows, dessert dishes and high ball glasses.

Catherine Zeta Jones

Linking up with QVC, the Welsh actress has a line of bedding, bath towels, tables and rugs called Casa Zeta Jones.

Justin Timberlake

Singer, musician and actor, Timberlake curated home decor line with mydomaine.com editor-in-chief, Estee Stanley. “I like very clean, almost modern architecture, and the obstacle with something like that is making it extremely warm, because it doesn’t naturally lend itself to that,” Timberlake said in an interview with Stanley and Elle Decor.

Added Timberlake: “With everything we do together, we try to get the juxtaposition right. To make pieces and rooms that are multifaceted, that blend different genres of architecture and design.”

Mandy Moore

The actress has a collection of art prints monogrammed glasses, throw blankets and other decor items for Shutterfly.

Lenny Kravitiz

The bohemian rocker/actor has always been known for his ’70s-inspired music and fashion. His interior designs echo these tastes. Don’t think pure hippy style though, think upscale penthouses and Studio 54 glamour, too. In a collaboration with Crate and Barrell’s CB2, dubbed CB x Kravitz Design, the range includes tables, chairs, lamps, rugs, pillows and more. It’s inspired by the singer's many travels with prices that are anything but retro.

Kravitiz also has his own interior design firm, and has added his eclectic flair to many well-known hotels and condo complexes.

Reese Witherspoon

It seems Reese Witherspoon is everywhere these days, acting, heading up an Oprah style book club, producing movies and designing clothes. It’s the latter, which has also spawned her foray into home accessories that includes tableware, candles, blankets and more.

Brad Pitt

A long time lover of architecture, the actor formed the Make It Right organization to help rebuild New Orleans housing after Hurricane Katrina. Now he’s teamed up with furniture maker Pollaro to introduce a line, which includes seating, tables, a marble bathtub and a bed.

Eva Longoria

Tapping into the Latin market, JC Penny has a bedding and bath collection with the actress.

Drew Barrymore

You guessed it —  pillows, shower curtains and artwork are featured in her collection with Shutterfly.

The post From Box Office to Box Springs: Celebs Are Moving Into Home Furnishings appeared first on Haute Residence by Haute Living.

The latest star to do so is actress Gabrielle Union and hubby Dwayne Wade. Their upcoming TV Special, All-Star Flip aired on April 12th. It follows the couple as they attempt to turn drab to fab in Florida with an outdated ranch home. The difference with this big-hearted couple as opposed to other flippers is that all proceeds are going to charity.

One of the best known flippers is Ellen DeGeneres. Passionate for interior design (she even had her own show on HGTV (Ellen’s Design Challenge), the comedian/talk show host has been flipping luxury LA pads for years. One of her most successful was in July 2014 when  she sold LA’s Brody House (built in 1949, the home has a history of cutting edge design and philanthropy) to Napster founder, Sean Parker for $55 million, netting herself a $15-million payday.

The spa inside the famed Brody House.

In total Ellen bought and sold 7 properties in a decade from 2006 to 2016. Her famous friends have come in handy as buyers (Ryan Seacrest) and renters (Nick Jonas). In just over that time she’s made a net profit of $3.4 million. Sure, A-list celebs earn more for film roles and endorsements but as walking-about money, it’s not bad.

Another well known flipper is actor Jeremy Renner. He and business partner Kristoffer Winters have been flipping homes for years (it’s up to 20 at this point — homes not years). Some of his earlier flips were well documented in website The Wrap. Renner revealed at one point he was making more money flipping houses than acting. The actor said that being amongst the sheetrock, studs and power tools “keeps me grounded.” Most recently Renner has flipped his mother’s house at 201 Elmwood Court in Modesto, Ca., which was purchased in 2007, 7 years after the actor started flipping homes to supplement his income. Renner was hands-on with his mom, Valerie Clearley’s house. She plans to move to LA to join him and her grand kids. Wonder if Renner has a flip in mind to pass on to her there?

Modesto, California

It makes sense that creative types would get into house flipping. Whether creating music or mosaic backsplashes, Grammy winner Beck got in on the house-flipping fever when he purchased and restored a home in Brentwood, LA in 2016. He listed it for $3.75 million, over $700,000 more than he purchased it for.

Sharon Osborne, talk show host and reality TV star, has always been an astute business woman, so of course, she’s a serial house flipper, having remodeled dozens of homes in LA. Her one-hour TV Special was called Sharon Flipping Osborne. “I’m damn good at it,” she said of her house flipping skills on the show. We wouldn’t doubt it.

The post When Celebs Flip Homes The Profits Are Almost As Big As Their Egos appeared first on Haute Residence by Haute Living.

It’s not as if New Yorkers are moving away to the sunshine, either. Many are moving within commuting distance to the city. Those relocating to New Jersey, Connecticut, the lower Hudson Valley and Long Island swelled from 187,034 in 2015 to 223,423 in 2016.

Once out of the Big Apple, your buck goes a lot further. According to City-Realty’s year-end report, Manhattan apartments priced at $10 million and above made up 18 percent of condo and co-op sales in 2017. The average sales price was $2.2 million. In the suburbs that amount of money guarantees the kind of space and luxury unimaginable in NYC.

Greenwich, Connecticut

If it’s complete opulence you’re after, earlier this year a Greenwich, Connecticut mansion went on the market with a newly slashed $12 million price tag — a discount of almost $20 million from when it was first listed in 2007.

The 18,307-square-foot, six bedroom mansion on Taconic Road has 10 bathrooms, a handcrafted wood-paneled library, a billiards room, a first-floor guest suite with a separate entrance, and a 3,000-bottle wine cellar. There’s also a home theater and an indoor pool, according to the listing with Jason Kinard of Kinard Realty Group, who is handling the sale. In fact, in recent months the luxury market in Greenwich, CT, where many Wall Streeters call home has seen a lot of activity. The average sales price of the top 10 sales in the market rocketed up 68.7 percent year-on-year in the fourth quarter of 2018 to average $8.92 million and a median of $6.46 million, according to a recent Douglas Elliman report. However, the same report also states that overall, luxury homes have been moving  in the area because of more realistic pricing compared to 2 or 3 years ago.

Chappaqua, New York

Another affluent NY Suburb, Chappaqua, home to Bill and Hillary Clinton, has a few spacious spreads on the market just below and above the $2-million mark. For instance, 71 Leroy Rd, priced at $1.795 million, is a 4-bedroom, 5-bathroom 6,250-square-foot home with a total of 14 finished rooms. 66 Haights Cross Rd, is a 6-bedroom, 8-bathroom 7,693-square-foot home priced at $2,275,000.

Bucks County, Pennsylvania

If buyers don’t mind moving further out from New York, Pennsylvania is where they get the most bang for their buck. A 90-minute commute to the Lehigh Valley almost doubles the square footage of the kind of luxury property available in tonier parts of Westchester. At 1721 Wildberry Rd in Bethlehem buyers can purchase almost 10,000 square feet of property with 5 bedrooms and 6 baths on a 2 acre lot, for $1,950,000. It has a pool, multiple livable rooms and a gym, though it is a slightly older home.

An area best known to New Yorkers wishing to get away from it all is Bucks County, PA with its country spreads, rolling hills and progressive outlook. It’s the closest liberal New Yorkers can get to their own mindset, without having to live in a city.

“Bucks County has been a draw for New Yorkers for decades,” says Michael Strickland, a realtor with Kurfiss/Sotheby’s International Realty. “ I am an ex-NYer myself and refer to Bucks Co as NY’s best kept secret. It is literally easier to get to than the Hamptons or Upstate NY — 90 minutes from the city. The Recession slowed down the buyer traffic from NY, however, I have definitely felt an uptick in my NY client base since the recovery began and the numbers of NY clients continues to increase. Lower property values, lower property taxes and proximity make it a viable alternative for full-time living with a daily commute to the city.”

For the average price of a Manhattan apartment — $2.2 million, Strickland says worn out Manhattanites could buy “a 50+ acre pristine equestrian property with an award-winning, energy-efficient 6,000-square-foot home in the Lehigh Valley or the quintessential 200-year old Pennsylvania County stone farmhouse on 10 acres in Central Bucks”

As for a perceived lack of culture, Strickland says, not so fast.

“We have a thriving arts community with numerous galleries in New Hope, Doylestown, Bethlehem and Easton, as well as museums such as the Michener Museum. The world-renowned MusikFest is an annual occurrence in Bethlehem. Fine dining, quaint country inns and avant-garde eateries can be found everywhere.”

The post New Yorkers Are Flocking To The Suburbs In Search Of Luxury appeared first on Haute Residence by Haute Living.

The branded building seems to have found  a home in sunny South Florida, where five are set to open by 2021 according to Mansion Global. With a large international populous, familiar with iconic names in fashion and cars, the trade off for developers looking to sell quick, is an astute one. In New York, where there seems to be an ongoing demand for high-end real estate, luxury brands veer toward hotels rather than residential property (Restoration Hardware, West Elm, Equinox, Shinola). In London, however, the 50-storey “Versace Tower” (real name: Aykon London One)  is Britain’s first branded fashion high rise, located in the Nine Elms regeneration zone. It’s pretty swanky with the “V” for Versace Home in marble patterns inlaid into the walnut floors. The high priced tower is due to be completed in 2020. Over half of its units have been pre-sold.

Elsewhere, luxury branded residences have been well established. Dubai opened its Armani hotel in 2010, while the same company’s eco-friendly complex with Smart Hero Group in Beijing was completed in 2017. The diversifying Italian fashion house also plans to craft interiors at Century Spire in Manilla, Philippines. Fendi partnered with DAMAC Properties, creating the interiors of Dubai’s DAMAC Residenze, which also opened last year.

What a developer receives for the privilege of stamping an iconic brand’s name all over their property is instant credibility and name recognition. International buyers purchased $7.1 billion of South Florida residential properties in 2017 according to the Miami Association of Realtors — a 35 percent slice, up 41.4 percent increase from the year before. So, in a strange land a familiar name goes a long way in assuring investors their money is safe.

“Miami is more of a flashier type of city, than other areas like New York or Chicago that are a little more conservative,”  said Jon Paul Perez, vice president of Related Group, one of the developers behind Residences by Armani/Casa, set to open in the city in 2019.

Where branding is concerned, one South Florida property has been creating headlines for a while — The Porsche Design Tower. A collaboration between Dezer Development and Porsche Design Group, the building comes with a high powered automobile elevator transporting drivers and their rides from street level to their apartments. Don’t expect to see any low-end rust buckets chugging into the building.

Other famous car companies have got up to speed on trading wheels for steel frames. Britain’s Aston Martin, famous for ejecting 007’s villains into the sky, has teamed up with Argentinian developer G&G Business Developments for their own Miami-based tower, which is expected to be finished by 2021. Signature amenity touches, like the hand-stitched leather door tabs—sourced from a Scottish village—and  the carbon fiber lobby furniture — ensure that the famous car company isn’t there in name only.

The numbers for each deal differ. Typically the developer will pay the brand a percentage of sales, usually 2 percent to 5 percent explained Edgardo Defortuna, the president and CEO of Fortune International Group.

Many of the buyers don’t live in Miami or even the US on a full-time basis and are simply looking for a place to park their cash.

“We’d seen the Armani building in Dubai and were convinced” said Robert Thorne, CEO and founder of Miami-based The Wellness Habitat Co, who purchased a two-bedroom unit on the 25th floor at Resdiences by Armani/Casa two years ago for $1.4 million. “We knew our investment was going to be secure.”

The post Luxury Brands Now Include Real Estate In Their Empires appeared first on Haute Residence by Haute Living.

Moore purchased the house with her fiancé, Taylor Goldsmith in January 2017. Interior designer Sarah Sherman Samuel and architect Emily Farnham were enlisted to transform the 1950’s  3,551-square-foot home into the couple’s dream pad. Golden fittings and fixtures appear to be a theme with faucets and cabinet pulls along with pendent lighting, mirrors (well, okay brass from CB2) in a distinctive midas hue. The influence is undoubtedly ’70’s retro, including terrazzo floors with gilded divider strips.

Construction meetings at our #lessismooremm project have become the highlight of my week. Later today we get to check in on the terrazzo progress (a 5-6 week process). Here’s a rendering of our #palladiana terrazzo fireplace ledge being fabricated right now. Swipe for the before. #emilyfarnhamarchitecture

A post shared by Emily Farnham (@emilyfarnhamarchitecture) on Oct 12, 2017 at 7:34am PDT

The kitchen, which underwent a full scale demo, introduced a single waterfall design island made out of Calcutta Venato marble with juniper cabinets. Contemporary flair is added with more slabs of marble, a theme which is continued into the shower. No cleaning grout lines with a toothbrush for Moore and Goldsmith.

The calm before the storm at #lessismooremm one week ago right before move-in day. The furniture installation is almost complete and our clients are in the process of making it home. We’re all excited to show you more soon. #emilyfarnhamarchitecture A post shared by Emily Farnham (@emilyfarnhamarchitecture) on Jan 23, 2018 at 9:33am PST

The upholstered green headboard hasn’t been seen in boudoirs since Barry White was used for seduction. And those pendant lights will have you digging out your parents’ flares. As for the felt fabrics on the sofas, cue an old episode of Charlie’s Angles and you might have seen them. That said, the retro elements don’t overpower this renovation. Instead, the clean lines, and modern touches add a sophisticated cool with a touch of fun.

A rendering of our #lessismooremm project, currently under construction. The master bath was another place we had to get a little surgical to remove the traces of an ill-fitting previous addition. Swipe for the before, and swipe again for the only time wall-to-wall carpet was acceptable in a bathroom. #emilyfarnhamarchitecture

A post shared by Emily Farnham (@emilyfarnhamarchitecture) on Sep 28, 2017 at 11:46am PDT

Moore and Goldsmith clearly nabbed Sherman because she didn’t want a home that looked like everyone else’s. No white cabinets, grey walls and hardwood floors for them. Sherman’s ’70’s flirtations are clearly bold statements but not garishly so. The softer greens and  natural elements —stone and wood — take down the disco ball and turn the show house into a home, which can actually be lived in as opposed to photographed.

The post Mandy Moore Goes Retro Chic With Her Pasadena Home Renovation appeared first on Haute Residence by Haute Living.

Tråfjosen

Okay, so the luxury is a little lower with Tråfjosen, a converted wooden barn in Voss, a ski resort in Western Norway (which sleeps 4), because it lacks electricity (wood burning heat only) and running water. But the multi-sided windows allow for stunning panoramic views and and the decor and interior design is sparse but strikingly modern.

Scrubby Bay House

If the Norwegian mountains aren’t remote enough for you, Scrubby Bay House is a luxury retreat in Banks Peninsula, New Zealand. Accessibility is limited to a dogged 40-minute SUV ride or a helicopter from Christchurch. Friends and family are welcome as it sleeps 14. It was nominated for World Building of the Year in 2015. There is a pool, lots of wood and stone, an idyllic bay and plenty of hills. Good reading material is essential. The property is just one of  luxe retreat specialist Annandale’s coastal farm escape and luxury villa collection.

Anakolodge

You can’t talk about mountain retreats without mentioning Switzerland. Don’t let the cluster of chalet’s that comprise Anakolodge’s rugged outward appearance fool you. Although you might be expecting to hear bleating sheep when you approach, the interior is spartan but sleek and modern with ski-to-door access, hot tubs and more. It is a year-round getaway with wifi access that will have you asking to work from home more often.

The Ark

Now for something entirely different: The Ark is a  Sri Lankan rainforest getaway that is the stuff of James Bond movies. Forty acres of private reserve will allow you to hike, bird watch or just switch off. There’s an infinity pool in the clouds and old cinnamon and tea plantations below. You can even try your hand a tea-plucking.

The Hen House

A continent away, in Scotland, The Hen House is a perfect place to ensure no annoying neighbors will alert the cops when you blast your music or walk about in the buff with the curtains open. Overlooking Loch Bracadale on the Isle of Skye, it has been featured in the Guardian, Small House Bliss, and the Financial Times 2015. The retreat is completely built from sustainable and often local materials.

Solo Houses

Off the grid and relying completely on solar power, Solo Houses is the first of 17 retreats being designed by Spanish architects, Kersten Geers and David Van Severen As they explain in the book Mountain View, The Perfect Holiday Homes: “Since the scenery is so impressive, we felt architecture should be invisible, merely emphasizing the natural qualities of the surroundings.”

Okay, put down the swimwear and grab the hiking boots.

The post 6 Spectacular Mountain Retreats Around The World appeared first on Haute Residence by Haute Living.