Marc Jacobs Lists Manhattan Townhouse for $16 Million

The kitchen.

Marc Jacobs is putting his Manhattan townhouse on the market for $15.995 million, following his recent marriage and his purchase of a Frank Lloyd Wright home in the wealthy New York suburb of Rye.

The designer got married earlier this month, soon after closing on the roughly 6,000-square-foot Rye home for about $9 million.

A representative for Mr. Jacobs stated that his client is selling because he plans to downsize his footprint in Manhattan. Mr. Jacobs will be splitting his time between New York City and Rye, Mr. Poore said. Mr. Jacobs declined to comment.

Marc Jacobs is listing his Manhattan townhouse for $15.995 million.

In the West Village, the Bethune Street townhouse is one of a handful built as part of the Robert A.M. Stern Architects-designed Superior Ink condominium project developed in the late 2000s. Mr. Jacobs paid $10.495 million for his property in 2009, public records show.

The four-story house spans about 4,346 square feet of interior space plus an additional 1,462 square feet of outdoor areas, including a garden courtyard and a rooftop terrace, according to the listing. There is an oak-paneled living room with glass doors leading out to the ivy-draped courtyard; a dining room with alabaster sconces and art lighting; and a study. The master suite spans an entire floor and includes a mahogany dressing room and a marble bathroom. There are also two guest suites.

Listing pictures show Mr. Jacobs’s art collection on display. Pieces include a sculpture by François-Xavier Lalanne. The art isn’t included in the sale.

The new owner would also have access to the amenities of the condo project, which include a gym, yoga, screening rooms, and a garage.

Foreign Bargain-Hunters Flock to Vietnam’s Luxury Highrises

Forget New York City or Hong Kong. The newest hotspot for luxury real estate is Vietnam.

The Southeast Asian country has been seeing a surge in luxury real estate development, Bloomberg reported, thanks to a booming economy and laws making it easier for foreign buyers to buy property in Vietnam.

Vietnam is “where southern China was 10 or 15 years ago,” Goodwin Gaw, chairman of Hong Kong-based private-equity firm Gaw Capital Partners, told Bloomberg. Prices have been going up over the past year and a half, but investing in real estate in the country is still a good bet in the long-term, Gaw said. Prices for luxury condos in Ho Chi Minh City increased by 17% in 2018, according to Bloomberg.

ho chi minh city vietnam
Prices for luxury condos in Ho Chi Minh City increased by 17% in 2018.
 

Vietnam’s economy is seeing strong growth, according to Al Jazeera. And in 2015, a legislation change made it easier for international buyers to obtain long-term leases and buy property in Vietnam, Mansion Global reported.

Ultra-luxury living at a low price point

A luxury apartment in the city center of Ho Chi Minh City can cost upwards of $5,000 per square meter or $465 per square foot, Sunny Hoang, associate director of International Residential Sales at Savills in Ho Chi Minh City, told Mansion Global. Compared to other cities, that’s an absolute bargain.

In Hong Kong, a similar home can easily cost four times more than that, Hoang said.

Average prime home values in Hong Kong are now at $4,660 per square foot, according to a separate Mansion Global report, while Manhattan real estate costs an average of $1,773 per square foot.

Feliz en Vista
An artist’s rendering of a swimming pool at Feliz en Vista.

At Feliz en Vista, a four-tower luxury condominium development in Ho Chi Minh City’s District 2 developed by Singapore-based CapitaLand, buyers can choose from a mix of garden villas, duplex penthouses, and “sky mansions.” The property offers ultra-luxe amenities including a swimming pool with hot spring Jacuzzi and water slide, an outdoor movie theater, a treetop adventure walking bridge, a fitness center, sky garden, library, playground, tennis court, and parking.

The condos are currently priced between $232 and $290 per square foot. This would come out to between $400,000 and $500,000 for one of the building’s 1,722-square-foot four-bedroom units.

More than 99% of the units at Feliz en Vista were sold by the end of 2018, a representative for the developer told Business Insider.

Feliz en Vista
An artist’s rendering of Feliz en Vista in Ho Chi Minh City.

And at the The Grand Manhattan, a 39-story development that will include apartments, a hotel, and restaurants in Ho Chi Minh City’s District 1, known as “Saigon’s Wall Street,” the New York City-inspired condos start at about $557 per square foot.

Compare that to NYC, where even a tiny penthouse can cost$2,143 per square foot and it’s common to see asking prices of $10 million and up. And in Hong Kong, which has one of the most expensive housing markets in the world, a modest house that many would classify as a knockdown is selling for a staggering $446 million.

Not only foreign buyers

International buyers may be jumping to invest in Vietnam real estate, but wealthy locals are giving them competition.

“We have more and more very rich Vietnamese, particularly entrepreneurs looking for places to put their money,” Neil MacGregor, a managing director at Savills Vietnam, told Bloomberg.

Vietnam now has 142 people who are worth more than $30 million, according to a 2019 report from global real estate consultant Knight Frank.

50 Cent’s House in Connecticut Sells After 12 Long Years on the Market

Rapper Curtis Jackson, better know as 50 Cent, has finally found a buyer for his massive compound in Farmington, Connecticut. The sprawling property sold for $2.9 million — significantly less than the initial $18.5 million ask (84% less, to be more precise).

But the sale put an end to a 12-year search for a buyer, as 50 Cent’s house was first listed back in 2007, resurfacing on the market every now and then with a fresh price. Jennifer Leahy of Douglass Elliman was the one who brokered the sale, wrapping up the property’s long run on the market.

50 cent's house in connecticut exterior

50 Cent’s house comes with 19 (!) bedrooms

The Farmington home, located about 80 miles north of the affluent city of Greenwich, is far from your average house.

With slightly over 50,000 square feet, the massive property comes with 19 bedrooms, 25 bathrooms, an indoor pool and hot tub, an indoor court, multiple game rooms, a full gym, a conference room, a home theater, among many other exciting spaces! It is set on 17 acres and the grounds includes a pool, grotto, pond, and a basketball court.

And since this was 50 Cent’s house, it’s bound to have its own night club. Because where else would Fifty feel at home if not “in da club”? The rapper also set up his own recording studio on the property and a green screen room for filming.

50 cent's house in connecticut exterior
50 cent's house in connecticut exterior
50 cent's house in connecticut exterior
50 cent's house in connecticut exterior
50 cent's house in connecticut exterior

From Mike Tyson to Curtis Jackson and on to new owners

50 Cent (by his real name, Curtis Jackson) bought the sprawling property for $4.1 million in 2003 from former heavyweight boxing champion Mike Tyson in a record-breaking deal for the area.

That purchase price was, and remains, an anomaly for Hartford County — where the mansion is located — as Farmington is a fairly modestly priced home market. So you can imagine the shock of an $18 million listing price when Curtis Jackson first brought the property to market.

50 cent's house in connecticut exterior
50 cent's house in connecticut exterior

 

50 cent's house in connecticut exterior
50 cent's house in connecticut exterior

According to media reports, the proceeds of the sale would be donated to the G-Unity Foundation — an American nonprofit public foundation established rapper 50 Cent himself along with his group, G-Unit. The foundation provides grants to nonprofit organizations that focus on improving the quality of life for low-income and under-served communities across the United States.

Scottish Luxury Home Market Robust in the Face of Brexit

gray castle on shore

Scotland’s luxury housing market continues to thrive, outperforming much of the rest of the U.K. as Brexit fuels uncertainty and dampens home sales in much of England and Wales, according to a report from real estate firm Knight Frank on Monday.

Average prime prices in Edinburgh rose 7.4% in the first quarter compared to the same period last year. That robust price growth makes the Scottish capital one of the fastest growing high-end real estate markets in Europe—let alone the U.K., according to the brokerage, which tracks luxury markets around the globe.

Single-family homes have been particularly strong, with prices increasing 9% in the first quarter compared to a year ago as demand for standalone dwellings continues to outstrip supply, according to Knight Frank.

beige concrete house on grass fields

Scotland has not been entirely immune to the cooling effects of a drawn-out and politically divisive exit from the European Union. The pall of uncertainty has scared off a portion of discretionary buyers, such as landlords and those looking for pieds-a-terre, in Edinburgh.

“A lack of clarity surrounding Brexit has increased caution among some buyers and sellers,” wrote senior analyst Oliver Knight in the report. 

The price segment from £1.5 million-£2 million (US$2 million-US$2.6 million) posted the biggest annual price gains, rising nearly 13% in the first quarter compared to a year ago.

Meanwhile, in the countryside, luxury Scottish homes and properties logged a more modest 2.3% annual price growth. Scottish country homes have outperformed the rest of the U.K., where prices have fallen over the past year.

herd of sheeps on road during daytime

Overall, homes in a commutable distance of major cities have fared better than those in more remote areas, according to Knight Frank’s index.

“With Brexit leading the headlines and impacting on housing market sentiment, the prime market is driven primarily by needs-based purchasers who are moving for work, schooling or because they require more space,” Mr. Knight said.

Source: Mansion Global

Sandra Bullock Selling Georgia Island Compound for $6.5M

“Birdbox” star Sandra Bullock is ready to fly away from her Georgia getaway. The “Ocean’s Eight” actress is listing her oceanfront beach house on Tybee Island for $6.5 million, TMZ has reported. In addition to being an Oscar-winning actress, Bullock also has a keen eye for real estate. The A-lister purchased the vacation home in 2001 for just under $1.5 million. But Bullock has already been reaping financial rewards from her investment.

sandrabullock_10019

She’s been renting the home out for the last two years, at a whopping $1,400 a night, according to a report in Variety in 2017. Even so, we hope she’s not in a rush to sell. The asking price dwarfs other local homes on the market, with a median listing going for $499,900. With 279 active listings on the market, there are plenty of options to choose from at lower price points. To view the full listing, Click here!

sandrabullock_10006.jpg

Carrie Underwood Lists Tennessee Home!

Pop country music star, Carrie Underwood, has listed her mansion, which is located in a guard-gated golf course development in the affluent suburban community of Brentwood, Tenn., about 20 miles south of downtown Nashville, for $1.45 million. At the end of a manicured cul-de-sac that backs up to the rolling greens of the tony Governors Club, and described as an “Italian Style Villa,” the 7,083-square-foot, stone accented beige brick home, has four bedrooms and four full and two half bathrooms over three opulently outfitted floors.

The home features soaring ceilings, large open floor plan in kitchen that features stainless steel appliances, sub-zero fridge, and a wine fridge.

Master suite has beautiful gas fireplace, with his and her vanity, and a walk-through shower.

Other bonus touches include a finished basement with heated marble floors, wet bar in den, in-home gym, and extra storage in basement.

For more information email Jim Lowenstern at Jim@castlesunlimited.com.

 

Luxury Real Estate: Elevated Returns for Investors

Investing in real estate isn’t always a glamorous business, but luxury homes can add some bling to your portfolio. According to a survey of 81 international luxury markets, luxury home sales increased by 11 percent annually in 2017. In some markets, limited supply and heightened demand allowed luxury housing to outpace non-luxury home sales. In the U.S., a stable economy has helped drive luxury home sales, despite rising interest rates and questions over how tax reform might impact wealthier investors.

2250 Indian River Crescent, North Vancouver, BC. $36.2 million.

Experts say that the equity bull market is in the longest stretch in American history and as a result, there’s an increasing activity among high net-worth individuals. This should continue to boost portfolios and create a wealth effect, increasing confidence and funds to invest in luxury real estate. Investing in high-end properties isn’t limited to the elite, however. Newly created net worth is driving a new buyer, including millennials, say realty network executives. If you’re ready to invest like the rich, here’s what you need to know about moving up the property ladder with luxury real estate. Adjust your perspective. Luxury real estate isn’t your run-of-the-mill property investment. The luxury market is a global market; the buyer pool is international. As a result, it appeals to a larger audience and thus can command higher prices.

1496899359(16)

40275 Highway 141, Gateway, CO. $149 million.

That can translate to elevated returns for investors–– as the evidence demonstrates, luxury real estate investments provide higher yields than the stock market without as much volatility. Real estate investors in top-performing markets are enjoying a windfall, and find comfort in the fact that luxury real estate values in the U.S. will always increase over time. High-end real estate also holds up better when traditional real estate or stocks flag. Luxury real estate investments tend to rebound better when markets soften because they’re considered desirable, are generally unique and tend to have strong intrinsic value that surpasses the cost of replacement. One significant benefit of owning real estate is that it will never be at zero value, even in a dismal market, while stocks can plummet to such a level.

10210 Strait Lane, Dallas, TX. Philip Johnson masterpiece. $27.5 million.

Luxury markets aren’t created equally, however. In general, luxury real estate can be lucrative, but some markets may be hotter than others, both domestically and internationally.

781 Fifth Avenue, New York, NY. Entire 18th floor, white glove service. $68 million.

For example, in New York City, there now exists supply saturation and that’s putting constraints on price. Yet, luxury properties saw tremendous appreciation in value from 2013 to 2016 as a new generation of luxury condos entered the market. In 2017, Seattle lead the way with the most robust year over year luxury sales growth, followed by Dallas and San Diego (as well as several cities in Colorado). All of the aforementioned regions proved to be among the hottest luxury second-home markets, with sales volumes of million-dollar-plus homes reaching levels not seen since the pre-housing crisis era. Internationally, Vancouver has emerged luxury housing markets. Studying market trends is crucial when choosing where to invest in luxury properties.

99 Union St Unit 1202, Seattle, WA. $12.5 million.

Luxury Looks to Concrete

Unfazed by associations with cell blocks and parking garages, more homeowners are discovering that concrete is the chameleon of construction. It can take on the texture of wood or glass, an artist’s palette of color beyond drab gray and, with the addition of structural fibers and plasticizers, is less prone to cracking.

Villa Christina

Gorgeous Concrete Villa Christina Budapest

Concrete has been around since ancient times, when Roman builders mixed lime, sand and rubble with volcanic ash to create the Pantheon dome. Modern concrete swaps out the volcanic ash for portland cement. Concrete homes can be poured in place into forms made of plywood or steel plate and lined with everything from pine boards to mirror-smooth plastic laminate. Or they can be erected using precast concrete walls or blocks. The sturdiest concrete homes are reinforced with steel, making them strong enough to withstand fires, floods and hurricanes.

Auckland1

Textured Concrete in Auckland

Concrete homes are typically more expensive to build than conventional homes, but they’re less expensive to maintain and more durable over time. Concrete affects the bottom line in other ways, lowering heating and cooling costs and even insurance premiums. “Reinforced-concrete building systems are more disaster resistant, more insect resistant, more mold resistant—also one of the most energy-efficient systems available,” said Ed Hudson, director of marketing research for Home Innovation Research Labs, a subsidiary of the National Association of Home Builders, a trade group.

Sydney2

Functional Concrete Living Room in Sydney

According to surveys, poured and precast concrete is most popular in the luxury sector—accounting for 4.1% of high-end homes built last year. That marks a steady increase in the demand for luxury concrete since the recession low in 2012, when such homes accounted for just 1.9% of new construction. Investing in concrete construction with high-end finishes may pay off in resale value–– Realtors now recognize that polished concrete floors are a very popular design element. Also, concrete, when imprinted with a pattern, can create an aesthetically pleasing dramatic effect. Although renowned for its durability, not all concrete is built to last. In the Los Altos Hills, Calif., a designer constructed a wall that has been engineered to partially erode over time; the concrete, which was mixed with soil and organic matter to encourage the growth of lichen and moss, is also embedded with hidden objects, such as stones, machine parts and a doll belonging to a female client. “Some are starting to show up now,” she said. “Some of the things won’t show up even in my lifetime.”

Historic Pill Hill Abolitionist’s House Hits Brookline Market at $2,850,000

8cc9effdd592fa30898b91c17a7b4433l-m0xd-w1020_h770_q80

Click for a full slideshow and contact information

Originally built in 1864 by the Philbrick family, well-known Brookline builders and abolitionists, 195 Walnut Street in the “Pill Hill” district of Brookline Village has been recently renovated in collaboration with the Brookline Historical Commission. This newly-modernized property is on the market for $2,850,000. Beneath a slate mansard roof, the home has six bedrooms, five bathrooms, and 4,400 square feet of living space divided into four levels. This Civil War-era brick home rests on a 9,466 square-foot lot. The main level living room offers original hardwood floors and french doors that lead to a mahogany deck. The second-floor master suite includes a marble walk-in shower with a bench and a soaking tub. Not be outdone, the third floor also boasts a suite, complete with a full bath. Additional features include high ceilings, an original stone fireplace complete with refinished wooden mantel, high-end kitchen appliances, and a finished lower level.

 

Boston Rents Down for Luxury, Up for Everything Else

Rents in Greater Boston have fallen slightly over the last year — but only in the top tier of the market. For everyone else, they’ve ticked up. The changes in this region’s rental prices are quite small, but follow a trend in large metropolitan regions across the nation. In Boston, like most other major cities, rents have fallen for the highest earners since last August. Naturally, throughout the last seven years, rents in Greater Boston have increased for everyone, but substantially less so in the luxury market. The median rent in the most expensive third of the local market increased 20 percent from June 2011 to June 2018. For the bottom third, it’s risen 27 percent. For the middle third, it’s increased 32 percent.

Screen Shot 2018-08-27 at 1.25.25 PM.pngThe divergences at different rental points indicate steady growth in all sectors, signifying a ripe opportunity for investment in all markets–– especially luxury homes. The numbers are remarkably positive, and all signs indicate a market that is seldom situated in such a financially convenient position for buyers, sellers, and renters alike. Below are several links to fantastic luxury properties now available for rent/sale in Boston proper as well as the Greater Boston area. 

https://castlesunlimited.com/listing/72334652/132-yarmouth-road-brookline-ma-02467/

20170926_130254.jpg

https://app.castlesmag.com/CastlesMag/listings/40BurroughsWharfPh6-Boston.html

548498e3668b721509727aba4d27ad25l-w0xd-w1020_h770_q80.jpg

https://app.castlesmag.com/CastlesMag/listings/50LibertyDrive-Boston.html

e8a74fb724f8898913afcae8ac025b2dl-m0xd-w1020_h770_q80.jpg

https://app.castlesmag.com/CastlesMag/listings/117BeaconStreet-Boston.html

beacon1.jpg

https://app.castlesmag.com/CastlesMag/listings/46RoslynRd-Newton.html

roslyn2.jpg