> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
�his issue of Perspectives highlights many noteworthy properties
to recently come to market, as well as several notable sales: from a one-of-a-kind penthouse in San Francisco, listed for $49 million, to “Robinswood” in England for $27.4 million, and the recent sales of the Mellon townhouse in Manhattan for $37 million and a Hong Kong apartment for $11.08 million.
professionals working in New Zealand, Andorra, Dubai and Malibu, California, offer an insider’s view of current market conditions. The lifestyle comparison included here also celebrates a broad spectrum of property types… But whatever lifestyle suits your needs, you can search for the ideal property at sothebysrealty.com.
I hope you enjoy this issue of Perspectives, which highlights just some of the global markets where our professional real estate services are available. In this edition, our affiliates and their independent sales
Views
Sincerely, Philip White President and Chief Executive Officer Sotheby’s International Realty Affiliates LLC
from around the world DUBAI — “Dubai is currently one of the most popular cities in the Middle East, with 11.6 million tourists visiting in 2014 and a further growth expected for this year. The city is home to several iconic real estate developments including The Palm Jumeirah, the world’s largest man-made island, the Burj Khalifa, the world’s tallest building and the Burj Al Arab, the world’s first seven-star hotel. These global real estate successes have led the way in architecture and inspire the rest of the region’s architecture to push the boundaries, creating breathtaking and striking residences all around the city. Dubai attracts both families and young executives as it offers a variety of communities and lifestyles to suit all tastes, from Marina or bustling downtown apartments and penthouses to spacious villas with sprawling lawns or beach front communities. The Dubai lifestyle is luxurious, with all developments offering swimming pools, gyms, play areas for children, global restaurants, designer brand shopping as well as an ever-evolving infrastructure that connects the designated areas of business and residential property. With the right to host the Expo 2020 being awarded to Dubai and further expansion plans for international airports, it is expected that Dubai will continue to grow and retain its title as the gateway between East and West.”
Gulf Sotheby’s International Realty | Dubai, UAE | $7,623,196 (USD), 28,000,000 (AED) | Prop ID: 3ZMYNM
– Loshini Lawrence, Head of Sales & Leasing, Dubai Sotheby’s International Realty
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
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ANDORRA — “The Principality of Andorra is one of the most alluring destinations for those looking to buy a property. Famous for its more than 300 km of ski slopes, the country also offers incredible scenery and views that magically change with the seasons. Its privacy and high quality of life as one of the safest countries in the world come together with the benefit of being a quiet country without losing the flashes of modernity of the best European cities. The new and modern legal and fiscal framework makes it interesting for companies (Holdings, Intragroup Financial Management, and others) as well as for private individuals, especially high net worth individuals and those internationally known in sports, culture or science. The real estate market offers a huge variety, from rustic countryside chalets to modern city penthouse living, and all that in a price range which is highly competitive with any other place around the world. Andorra is undoubtedly the jewel in the Pyrenees.” – Ralph Lünenschloss, Partner, Andorra Sotheby’s International Realty
Lew Geffen Sotheby’s International Realty | Johannesburg, S.A. | $3,358,325 USD, R 40 000 000 ZAR Prop ID: LGCS5J
SOUTH AFRICA — “At the southern tip of Africa, two great oceans meet, warm weather lasts most of the yea, and big game roams just beyond the city lights. South Africa is considered the powerhouse of Africa, the most advanced, broad-based economy on the continent. The country offers an investor-friendly environment in which 100 percent foreign ownership is allowed. Within the Lew Geffen Sotheby’s International Realty group sales volumes have increased by 20 percent in the last year with a healthy 15 percent increase in average price. With a favorable exchange rate for many international currencies, South Africa is not only a very inexpensive destination but a great reason to invest in property in one of the most aesthetically and culturally magnificent places in the world, which includes Cape Town, voted top holiday destination by The New York Times and Table Mountain, voted one of the ‘Seven Wonders of the World.”
Andorra Sotheby’s International Realty | Canillo, Principality of Andorra | 6.000.000 EUR | click here
– Jason Rohde, chief executive officer, Lew Geffen Sotheby’s International Realty Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
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MALIBU, CALIFORNIA — “Malibu, the 21-mile strip of coastline that hugs the Pacific Ocean near Los Angeles, has long attracted affluent families with its pristine beaches, excellent surf and jaw-dropping sunsets. The high-end market in this celebrity enclave is heating up. In the last three months ended April 2015, the average sales price for single family homes in Malibu Beach was $5,157,813 — one of the highest in the nation. Condominium prices on Malibu Beach are more approachable — with an average sales price of $1,095,000 during the same period — but are enjoying rapid price appreciation, with the average sales price having risen 41 percent year-over-year. Undeniably one of the most desirable luxury markets in the
world, Sotheby’s International Realty, Inc. is proud to have significantly expanded its operations in Malibu last year and now serves the community from three brokerage offices in the area. Sotheby’s International Realty is currently marketing more than 60 important properties in Malibu, including the oceanfront estate of Kym Gold, co-founder of designer jeans brand True Religion, which is offered for sale at $26.5 million.” – Frank Symons, Executive Vice President and Chief Operating Officer, Sotheby’s International Realty, Inc. Western Region
Sotheby's International Realty | Malibu, California | $26,500,000 | Prop ID: 1290092 Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Listings
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Sotheby's International Realty - San Francisco Brokerage | San Francisco, CA | $49,000,000 | Prop ID: SPT5X7
United Kingdom Sotheby’s International Realty | Wentworth, England | $27,850,843 USD, £18,000,000 GBP Prop ID: HQZM22
Gregg Lynn of Sotheby’s International Realty-San Francisco Brokerage in California has listed a one-of-a-kind Duplex Penthouse that commands the two highest full floors of the tallest tower of LUMINA SF and has 360-degree views. The home, listed for $49 million, was designed by Bernardo Fort-Brescia of Arquitectonica in a curvilinear configuration to capture iconic views of San Francisco landmarks including the San Francisco Bay Bridge, Ferry Building and Downtown Financial Center. It features dramatic, double-height living rooms of 20-foot high shimmering walls of glass in two locations. The downstairs has five principal entertaining rooms, and upstairs there are five en-suite bedrooms, gym/massage and family lounge. There also is a private rooftop view terrace, one of eight exclusive-use outdoor spaces. Click here for more information. To read coverage of the property in The Wall Street Journal, click here.
William Von Siegmund of United Kingdom Sotheby’s International Realty has listed Robinswood in England for $27.4 million (USD), £18 million (GBP). A new house built to a unique specification, the property is located in a prime position on the main island of the exclusive Wentworth Estate in Surrey, 45 minutes by car from London. Constructed of natural stone supplied by Pimar Limestone, the property is set in Wentworth. It features a grand reception hall, three reception rooms and kitchen/breakfast room. There are five double bedroom suites, a stunning wine cellar custom made by Sorrells Wine Racks and a spectacular indoor swimming pool complex. The landscaped gardens were designed and built by Caspar Gabb at Natural Elements Design. There is provision for staff/secondary accommodation. For more information, click here.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
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Sotheby's International Realty Canada | Toronto, Ontario | $22,769,781 USD 28 000 000 CAD | Prop ID: E5EK3S
Christian Vermast, Fran Bennett and Paul Maranger of Sotheby’s International Realty Canada in Toronto, Ontario, have listed The Integral House for $23.1 million (USD), $28 million (CAD). Commissioned by award-winning mathematician and author James Stewart in 1999, the private home with a concert hall was completed by Shim-Sutcliffe Architects in 2009. The residence is known for its impressive architecture and design elements and has been quoted as being “… one of the most important private houses built in North America...” by Glenn D. Lowry, director of New York’s MoMA. Previous guests in the home include David Bowie and Iman, Adrienne Clarkson, Justin Trudeau, Philip Glass, Joshua Bell and soprano Measha Brueggergosman. The finest craftspeople from around the globe collaborated to create this iconic dwelling using the best materials imaginable. With more than 17,000 square feet of space, the home was imagined around the concert hall and is all about entertaining. There are panoramic ravine views on three sides, a master suite, guest suite, independent two-bedroom guest flat, heated drive and indoor exercise pool and spa complex. Click here for more information.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Significant Sales
Sotheby’s International Realty-East Side Manhattan Brokerage sold the New York City townhome of Paul and Bunny Mellon for $37 million.
Nestler Poletto Sotheby’s International Realty sold a $19 million property located in the renowned Estate Section of Delray Beach, Florida
Louise Beit of Sotheby’s International Realty-East Side Manhattan Brokerage in New York sold the 40 foot wide townhouse of Paul Mellon, heir to one of America’s great banking fortunes, and his wife, Bunny Mellon, for $37 million. The couple built the home, located on a fabled Upper East Side block in 1965. Featured in The World of Interiors magazine it was designed in the neo-French classic style and evokes the charm of the French countryside. Paul Mellon curated his art collection in the library overlooking the garden with reflecting pool and gazebo, where Bunny Mellon, designer of the White House Rose Garden and friend to U.S. First Lady Jacqueline Kennedy Onassis, indulged her love of gardening. The high-ceilinged drawing room and dining room lead to a terrace, the center of celebratory parties. The house has 5-8 bedrooms, with flexibility for guests and staff, eight baths, chef ’s kitchen, wine room and elevator.
Lori Bennett of Nestler Poletto Sotheby’s International Realty in Boca Raton, Florida, sold a $19 million property ideally located in the renowned Estate Section of Delray Beach, just seconds to the famed Atlantic Avenue, north of Boca Raton’s Mizner Park and south of Palm Beach Island’s Worth Avenue. The home sits on one of South Florida’s best land parcels with incredible privacy, great elevation, stunning ocean views and one of the deepest oceanfront parcels the South Florida coastline has to offer. With six full bedrooms, seven full and three half baths and 16,000 square feet, it was designed by Affiniti Architects with Marc Michaels interiors and will be built by Mark Timothy Homes.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Significant Sales
Rego Sotheby’s International Realty sold this $14.7 million expansive estate
Hong Kong Sotheby’s International Realty sold this $11.08 million apartment overlooking the city skyline
Rego Sotheby’s International Realty in Bermuda recently sold a $14.7 million expansive estate, designed and built in 1992 for the enjoyment of a large family. Every detail of the property has been carefully crafted with high end materials and workmanship designed with a fine sensitivity to traditional Bermuda features. The main house includes four spacious bedrooms all en-suite, a large formal living room, informal living room/movie room with wet bar, dining room and library all with fireplaces, an office wing, a conservatory, two wine cellars, elevators and a two-bedroom staff apartment. The grounds are magnificent with a beach pavilion, twobedroom guest cottage, separate gym, pool, tennis court and putting green, as well as access to Grape Bay Beach.
Frederick Ho, associate director of Hong Kong Sotheby’s International Realty sold a beautifully refurbished apartment in a prime location for $11.08 million (USD), 86 million (HKD). The home overlooks the Hong Kong city skyline. The accommodation features large windows that promote natural light into the house, a large living and dining room, accented with dark wood flooring. The spacious master bedroom has a furbished bathroom in fine quality. The additional two rooms are also roomy.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Lifestyle Comparison GAME FARM / SAFARI
Prop ID: SMMHD8
Prop ID: L4NSYP
PLETTENBERG BAY GAME RESERVE, WESTERN CAPE, SOUTH AFRICA LEW GEFFEN SOTHEBY’S INTERNATIONAL REALTY $12.46 million (USD)
TAGAYTAY-CALAMBA ROAD, PHILIPPINES PHILIPPINE SOTHEBY’S INTERNATIONAL REALTY $10.74 million (USD)
Plettenberg Bay Game Reserve is the biggest game reserve in the Southern Cape, spread out across the hills above the scenic Garden Route coastline. With its breathtaking views across the Bay of Beauty, its abundance of wildlife, superb facilities for day and overnight visitors and warm African hospitality, it offers an exciting child-friendly safari experience. Click here for more information.
A cool and breezy escape from the urban jungle, Tagaytay is the most popular and closest tourist destination South of Manila, made famous by the volcano within the lake. Surrounding the lake are various luxurious hotels, residences and destination dining places. This highly elevated city has become the home for several developments offering the perfect home for locals and tourists. Click here for more information.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Lifestyle Comparison METROPOLITAN
Prop ID: H54YFY
Prop ID:T5G2CN
PARK TURO APARTMENT, BARCELONA, SPAIN BARCELONA SOTHEBY’S INTERNATIONAL REALTY $6.74 million (USD)
ESTATE ON WATAUGA ROAD, DALLAS, TEXAS BRIGGS FREEMAN SOTHEBY’S INTERNATIONAL REALTY $6.6 million (USD)
This apartment is located in the prestigious area of Turo Park, facing the park. Its size and position on a high floor make it a truly a remarkable property. The entire apartment is on the building’s exterior side with abundant natural light and high-quality finishes. Click here for more information.
This beautiful, custom estate is on one acre and offers a retreat-style escape with the benefits of an urban lifestyle. There is a gourmet kitchen, wine cellar, 4,500 square foot master wing, dressing area and secret door to study. Click here for more information.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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> S ECO N D E D I T I O N 2 0 1 5 SOTHE BY’S I NTE RNATI ONA L R EA LT Y ®
PERSPECTIVES N E W S & I N F O R M AT I O N O N T H E G LO B A L R E A L E S TAT E M A R K E T F R O M S OT H E BY ’ S I N T E R N AT I O N A L R E A LT Y ® P R O F E S S I O N A L S W O R L DW I D E
Lifestyle Comparison EQUESTRIAN
Prop ID: NKKHT3
Prop ID: QS2JV8
THE LEGENDARY PRIMM RANCH, LAS VEGAS, NEVADA SYNERGY SOTHEBY’S INTERNATIONAL REALTY $14.5 million (USD)
HOME ON JOHNSON DRIVE, ASPEN, COLORADO ASPEN SNOWMASS SOTHEBY’S INTERNATIONAL REALTY $13.9 million (USD)
The Legendary Primm Ranch is a legacy estate offering tremendous space for grand entertaining This beautiful home has designer furnishings including an exceptional collection of Equestrian and refined living. The 10-acre luxury compound is located in a prime location with five build- and western art. It has a custom, state-of-the-art barn for horses. The four-stall barn has its own ings, 50 total rooms sprawling over 21,000 square feet of living space. The extensive grounds two-car garage, shop, office, large loft and bathroom. Click here for more information. of this compound are completed by a 3,000 square foot smart guest villa, a 1,500 square foot separate staff residence, state-of-the-art horse stables with eight stalls, two stall wash bay, arenas and trainer’s quarter. Click here for more information. © 2015 Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.This newsletter is provided for informational purposes only and is not intended, nor shall it be deemed, to provide or offer legal, financial or tax advice or guidance. The views and opinions set forth in this newsletter are not necessarily the views and opinions of Sotheby’s International Realty Affiliates LLC.You should always consult with your own advisor when dealing with any of the issues visited herein.
Masthead art: Summer Landscape with Marine by Konstantin Alexeyevich Korovin © MMXV Sotheby’s International Realty® Affiliates LLC. All Rights Reserved. Summer Landscape with Marine used with permission.
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