Monthly Archive: May 2017

Art & Home | Royal Welcome

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From April’s volume of Art & HomeIyna Bort Caruso takes us into the royal world of castles.

In the world of luxury real estate, perhaps no single category of residence rises to the level of fantasy than the castle.

Germany, England, Spain and most notably France are among the countries with high concentrations of historic manors, where bedrooms number in the dozens, square footage is measured in the tens of thousands and amenities include moats, lookout towers and turrets.

Scotland£6,000,000 GBP | Edinburgh, Scotland | United Kingdom Sotheby’s International Realty

The United States has its share of palatial counterparts, too, even if they don’t have 900-year-old masonry, says Elizabeth Corbin Murphy of Chambers, Murphy & Burge Historical Architecture in Akron, Ohio. “The estates of Newport, Rhode Island, are wonderful examples, but you can have a castle in any city depending on its culture and context. A structure of character that is reflective of the society that builds it and the craftspeople who contribute to it–that’s a castle.” Her firm’s landmark restoration projects have included the Edsel and Eleanor Ford House, now a museum in Grosse Point Shores, Michigan, and Thomas Jefferson’s privy at Monticello in Virginia.

Turns out it can be surprisingly attainable to be king–or queen–of one’s castle. While fully restored palaces close to major centers like Paris, Geneva or London can exceed $30 million, others are on a par with two-bedroom apartments in those same cities, says Alexander V. G. Kraft, chairman of Sotheby’s International Realty France and author of “Living in Luxury” (Thames & Hudson, NY). “Prices can start at or even below $700,000 for smaller castles in rural locations in need of some updating.”

Rhode Island$17,500,000 USD | Newport, Rhode Island | Gustave White Sotheby’s International Realty

In areas with low labor costs, a ready pool of artisans and local tax incentives, ownership is even more attractive. Still, a castle is less an investment to round out a portfolio than a passion project.

“From a practical standpoint, a castle’s solid stone construction and centuries of modifications can make such ordinary tasks as re-plumbing or re-wiring extremely challenging,” Kraft says. Owning a castle takes “deep pockets and patience,” he adds.  And it also takes someone who approaches restoration with respect and balance.

FrancePrice Upon Request | Uzes, France | Uzes Sotheby’s International Realty

“There’s nothing wrong with making a castle your home,” says Murphy. “Everyone has to feel like it’s their own and not the ghosts who went before. But being able to soak up the legacy of the families who invested in the property and the craftsmen who built it is the reward and responsibility of ownership.”

Germany6.400.000 € EUR | North Rhine-Westphalia, Germany | Cologne Sotheby’s International Realty

Kraft agrees–he knows the rewards first-hand. He owns a restored 19th century hunting château in Provence. “One gets to live in an unusual, beautiful environment and become the guardian of a piece of history,” he says. “How many people can say that, even amongst the world’s elite?”

See homes from around the world in previous editions of Art & Home

 

Sotheby’s RealtyExpands Presence in New Jersey

Tim Kerr Sotheby’s International Realty to Serve Luxury Residential Real Estate Market  in Avalon and Stone Harbor, New Jersey

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Sotheby’s International Realty Affiliates LLC today announced that Tim Kerr’s Powerplay Realty in Avalon, New Jersey, is the newest member of its network and will now do business as Tim Kerr Sotheby’s International Realty.

Founded in 1992, the boutique firm is led by Owner Tim Kerr and Broker Ryan Vince. Tim Kerr Sotheby’s International Realty will serve the luxury residential real estate market in Avalon and Stone Harbor, New Jersey, along the shore community of Seven Mile Island.

“Tim Kerr and his team are homegrown professionals who are deeply knowledgeable about the local real estate market and have a proven track record of success,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Seven Mile Island is a charming beach community with an attractive luxury residential real estate market.  It is a dynamic area known for its family-friendly atmosphere, beach and water sports, restaurants, and exclusive shopping.  We are proud to welcome Tim Kerr Sotheby’s International Realty to our global network,”

“This community is not just where we do business, it is our home,” said Kerr.  “We are dedicated to providing personal service and building relationships to assure client satisfaction. The Sotheby’s International Realty® brand is the perfect complement to the unique and prestigious market of Seven Mile Island. Moreover, affiliating with the brand lends us a credibility and provides us with the tools and global connections to further grow our company.  We are thrilled to be representing the Sotheby’s International Realty brand in our local market.”

Tim Kerr Sotheby’s International Realty is located at 2821 Dune Drive in Avalon.  With this addition, the Sotheby’s International Realty network now has 41 branded offices throughout the state, giving the brand a significant presence in luxury residential real estate markets along the Jersey shoreline, from Rumson to Cape May, as well as major feeder markets to the shore.

The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 69 countries and territories worldwide.  In 2016, the brand achieved a record global sales volume of $95 billion USD.  Tim Kerr Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

Property Lifestyles | The Emerging Luxury Consumer

This week, we continue exploring the findings unveiled in the “Global Affluence: The Emerging Luxury Consumer” report.  When it comes to purchasing a home, emerging luxury consumers are particularly interested in pursuing certain property lifestyles including waterfront, metropolitan and historic.  Discover trending locations for these popular property lifestyles, based on data compiled from sothebysrealty.com.

Waterfront

The waterfront location with the highest year-over-year increase in search is New Hampshire.

New Hampshire

$2,649,000 USD | Moultonborough, New Hampshire | Four Seasons Sotheby’s International Realty

Waterfront properties available in New Hampshire include this custom-built estate on Lake Winnipesaukee.  The home includes 7,500 square-feet of living space, a 1,000-square-foot carriage house ideal for guests, 200 feet of shoreline and a deep-water U-shaped docking system.

Europe has also seen an increase in searches for the waterfront lifestyle, with three trending locations being the United Kingdom, Italy, and Germany.

Waterfront lifestyle destinations that have maintained a trending position year-over-year include Turks & Caicos, Australia, and Malibu, California.

Metropolitan

The metropolitan location with the highest year-over-year increase in search is Denver, Colorado.

Denver

$2,299,000 USD | Denver, Colorado | LIV Sotheby’s International Realty

Metropolitan properties available in Denver include this townhouse in the exclusive Riverfront Brownstones development.  Located in Downtown Denver, the residence spans over 4,000 square-feet and features floor-to-ceiling windows, master suite with a private balcony, plenty of outdoor living space and an attached three-car garage.

Additional trending metropolitan locations around the world include Boston, Massachusetts; Tokyo, Japan; Portland, Oregon; and Vancouver, British Columbia, Canada.

New York City is consistently one of the most popular metropolitan searches with trending neighborhoods including SoHo and the Upper East Side.

Historic

 The location for historic homes with the highest year-over-year increase in search is the Hudson Valley region of New York State.

Hudson Valley

$1,775,000 USD | Grandview, New York | Ellis Sotheby’s International Realty

Historic homes available in the Hudson Valley region of New York include this 19th-century cobblestone, craftsman-style estate.  Known as “Willow Knoll,” the home was built in 1891 by Joseph Ellicott, the inventor of the air brake and first commodore of the Tappan Zee Yacht Club.

Additional trending historic home locations around the world include New Orleans, Louisiana; Venice, Italy; India; Atlanta, Georgia; and Portugal.

For more information on the confidence of emerging luxury consumers, download the complete “Global Affluence: The Emerging Luxury Consumer” report by clicking here.

 

Sotheby’s Realty Expands Presence in Greece

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€1.950.000 EUR | Rhodes, Southern Aegean, Greece | Rhodes Sotheby’s International Realty

Sotheby’s International Realty Affiliates LLC today announced it has signed a long-term franchise agreement with Greece One Realty Limited to further expand the Sotheby’s International Realty® brand presence in Greece and with Rodon Realty P.C. for the opening of Rhodes Sotheby’s International Realty in Rhodes.

Greece Sotheby’s International Realty is led by seasoned real estate professionals Savvas Savvaidis, president and chief executive officer, and Natalie Leontaraki, chief operations officer. Savvaidis also serves as the chief executive officer of Rhodes Sotheby’s International Realty. With a flagship office in the historic capital city of Athens, Greece Sotheby’s International Realty will continue to serve the luxury residential real estate market throughout the country and in key areas including Mykonos, Crete and Corfu, while Rhodes Sotheby’s International Realty will focus on the unique market in Rhodes, the largest of the Dodecanese islands of Greece.

“Greece and its islands are emerging as an attractive luxury real estate market in the Mediterranean,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC. “Rhodes is one of the most popular tourist destinations in Greece known for its rich history, beaches and 300 days of sunshine, and we are proud to have Savvas Savvaidis at the helm of this expansion within the country.”

“The luxury real estate sector in Greece has a promising future,” says Savvaidis. “Greece’s luxury tourism market is expanding rapidly while state-of-the-art golf resorts and branded mixed-use developments are creating a strong luxury footprint in the Mediterranean. Being a part of the Sotheby’s International Realty brand allows us access to unparalleled marketing platforms for these high-end developments, an excellent recipe for a successful business operation.”

The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. Greece Sotheby’s International Realty and Rhodes Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

Contact Us for Your Global Real Estate Needs!

New Development Spotlight | Museum Tower in Dallas, Texas

Showcasing the height of new luxury construction in some of the world’s most sought after locations, let’s explore an exclusive new development from our worldwide network.

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Museum Tower is a luxury condo located in the center of Dallas. Surrounded by the finest art, fashion, performances, gourmet fare and entertainment, you have all the city has to offer in walking distance from your home.

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Reaching 42 stories into the sky, each level offers a unique view and an extraordinary high rise living experience.  At Museum Tower, exceptional service is what our residents experience every day. Transportation, event assistance, grocery stocking, dog walking, guest suites are just a few of the unique services.

Discover Luxury Developments from Around the World

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Museum Tower offers floor-to-ceiling windows with amazing vistas. Each luxury high rise condo features elegant hardwood floors, stone counters, refined finishes and gourmet kitchens incorporating Miele appliances and Dornbracht fixtures.

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With a selection of schemes, floor plans, kitchen designs and bathroom finishes, you have the opportunity to find the right home for you. The interiors of the dramatic one-, two-, and three-bedroom homes are enhanced by the design direction of Booziotis & Company Architects. The direct access elevators conveniently only stop at your front door, and the attentive tower staff is on duty 24/7.

$16,500,000 USD | Penthouse 42, Museum Tower – Dallas, Texas | Briggs Freeman Sotheby’s International Realty

With 8,449 square-feet of interior living, a 907-square-foot terrace and potential for 5,600 square-feet on the rooftop, Penthouse 42 welcomes a vision as breathtaking as its panoramic views. Atop Dallas’ highest and most prestigious residence, this Edition of One offers limitless opportunity for a life bounded only by the imagination.

Explore more of the Museum Tower on sothebysrealty.com

 

Luxury Real Estate Headlines: Last Week in May 2017

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

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Price Upon Request | Brisbane, Queensland, Australia | Queensland Sotheby’s International Realty

“In line with its Edwardian lineage, Ruhamah has extensive period features, including high pressed-metal ceilings, extravagant chandeliers, classic timber French doors and windows, and polished hardwood floors.”

An Edwardian Gem in Queensland – Mansion Global

Houses of Worship Converted to Homes – Wall Street Journal

Six Homes with Stunning Contemporary Architecture – Financial Times

Sotheby’s International Realty Brand Expands Presence in New Jersey – Sotheby’s International Realty

Is This the Most Beautiful Home on the Market in New Zealand? – Robb Report

A Mid-Century Modern Classic Tucked Away in Sausalito, California – Mansion Global

Five Properties with Designer Gardens – Financial Times

Sotheby’s International Realty Brand Expands Presence in Greece – Sotheby’s International Realty

A Sprawling Montana Estate on the Market for the First Time in Over 70 Years – Mansion Global

A Reborn Classic in Rittenhouse for $3.69 Million – Philadelphia Magazine

Sacramento is California’s Newest Real Estate Hot Spot – Wall Street Journal

Miraflores: Lima’s ‘It’ Neighborhood Thanks to Myriad Amenities – and a Beach, Too – Mansion Global

Spain’s Sotogrande: €50M Investment Heralds New Dawn for Resort – Financial Times

Choosing the Right Second-Home Market to Invest In – Mansion Global

10 Ultimate Waterfront Homes We’re Coveting Now – Elle Decor

Sotheby’s Sells Tamayo’s ‘Bird Charmer’ for $4.3M in NY – US News & World Report

Sotheby’s Realty Enters Wisconsin

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Sotheby’s International Realty Affiliates LLC today announced that Mahler Real Estate Group in Milwaukee, Wisconsin is the newest member of its network and will now operate as Mahler Sotheby’s International Realty.  This is the first affiliate to operate under the current Sotheby’s International Realty® network in Wisconsin.

Established in 2010, the boutique firm is owned and operated by Peter Mahler and serves the luxury residential real estate market in southeastern Wisconsin, including the greater Milwaukee area.

“Southeast Wisconsin is a very active and dynamic region with strong economic growth and a flourishing luxury residential real estate market,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “Mahler Sotheby’s International Realty has an in-depth understanding of Milwaukee’s upper-end market and the clientele it attracts.  We are pleased to expand the Sotheby’s International Realty brand into this market and proud to welcome Peter Mahler and his team to our network.”

“The purchase of a home is an intensely personal experience and we take the journey with our clients while offering them world-class service and a high level of professional integrity and discretion,” said Mahler.  “As a trusted advisor, advocate and champion, the desires and objectives of our clients are our top priority. Affiliating with the Sotheby’s International Realty brand allows us to tap into a global network and provides us access to an unparalleled level of marketing.  We are honored to be affiliated with the Sotheby’s International Realty network in Wisconsin.”

Mahler Sotheby’s International Realty is located at 600 N. Broadway, Suite 200 in Milwaukee.

The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 69 countries and territories worldwide.  In 2016, the brand achieved a record global sales volume of $95 billion USD.  Mahler Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

Luxury Real Estate Headlines: Third Week in May 2017

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

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$6,850,000 USD | Santa Rosa Beach, Florida | Scenic Sotheby’s International Realty

“And now this Santa Rosa Beach home, designed by Houston-based architect Scott Ballard and decorated by Houston-based interior designer Cathy Chapman, is on the market. The curb appeal of this white stucco home is irresistible, but on the other side of its sloped rooflines and curving walls is an unbeatable Gulf view—probably the house’s greatest selling point.”

This Incredible Home Once Graced the Cover of Coastal Living, and Now It’s on the Market – Coastal Living

Island Homes from Maui to Nantucket – Wall Street Journal

This Sanit-Tropez Estate is Worthy of  a Bond Villain – Robb Report

Sotheby’s International Realty Brand Enters Wisconsin – Sotheby’s International Realty

Tropical Modern: A Seductive Spin on Island-Style Homes – Wall Street Journal

The Most Grandiose French Fortresses on the Market – Gafencu

Connecticut’s Gold Coast Bounces Back after Hurricane Sandy – Financial Times

House Hunting in… Como, Italy – The New York Times

San Juan Islands: The Hottest Luxury-Home Market in the Country – Wall Street Journal

The Coolest Eco-Friendly Homes on the Market Right Now – Elle Decor

Realogy Calls on Tech Start-ups to Demonstrate Their Real Estate Business Solutions at Live Competition – Realogy

$110 Million Basquiat Sold by Family Who Bought it for $19,000 – Bloomberg

Getting Divorced? The 2 Deeds You Should Know About

Whether your divorce is amicable or downright stressful, it’s a difficult process. When you said ‘I do’ you never planned on eventually saying ‘I don’t,’ yet here you are. As if all the paperwork isn’t enough, you have to decide what to do about the elephant in the room – the house. Will you sell the home? Refinance? Perhaps you want to transfer ownership. Unfortunately, it’s not as simple as merely saying you’d prefer your ex-spouse to have it, though wouldn’t that be nice? If you are currently going through a divorce, there are two deeds you should know about in regards to transferring property: the interspousal grant deed and the quitclaim deed.

Interspousal Grant Deed

An interspousal grant deed is used when a married couple owns real property together. Simply put, the deed transfers one spouse’s interest in the property to the other, and lays out specific guidelines as to how any spousal or community property interest the spouse holds will be transferred. This type of deed is beneficial if you were to desire to add your spouse to the title of separate property, or transfer the title to the spouse with better credit in order to refinance or get a better mortgage interest rate. However, an interspousal deed is often used to transfer property in a divorce settlement, as well.

The benefit of an interspousal deed is that it could help the two of you avoid tax liability. In general, most types of property transfers are subject to a transfer tax, but an interspousal deed is exempt from transfer taxes, making it a smart financial method of transferring property between spouses. A divorce can get pricey, so any way the two of you can save money will be a win-win. To get the process started, simply ask your attorney for the form. While there are fill-in forms on the Internet, make sure they meet the legal requirements for your state of residence to avoid wasted time.

Quitclaim Deed

Often mispronounced as ‘quick claim,’ a quitclaim deed transfers property ownership from one spouse to another, including any interest. Keep in mind, this type of deed doesn’t ensure that the grantor (the person transferring the property) is the owner with the right to transfer it. Confused yet? Put into language that is easier to understand, a quitclaim deed says “I’m not warranting what I own, but I’m transferring what I own to you.” Basically, there’s no promise or guarantee about property ownership.

A quitclaim deed is often used during a divorce settlement when one spouse has been given the property by their spouse or via the court. A quitclaim deed is simple, easy, and inexpensive, but don’t forget to remove you or your spouse from the mortgage, as the deed doesn’t transfer financial obligations and liabilities.

Make a Move

Regardless of what route you and your ex pursue to transfer property, if you aren’t the one receiving it, you need to make living arrangements. Reevaluate your budget post-divorce and determine what you can truly afford as well as consider your needs. Will you move into an apartment? A townhome? A house? Consider not only your budget, but children if they are involved. Make the move as simple and stress-free as possible by planning in advance the packing, transporting, and unpacking. Use this as a time to part ways with items that hold sentimental value in relation to your ex. However, don’t let the pain and anger lead you to toss something you will regret later such as your cruise photos or home videos.

Getting divorced is a big life transition, and it is what you make it. While it will be sad and maybe even trying at times, simplify it as much as possible by educating yourself about your options. Knowing what to expect and how to go about it will make the process a little easier, and it will become the past in no time.

Article by moneywithjim.org

Sotheby’s Realty Expands into Austria

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€ 10.090.500 EUR | Vienna, Austria | Austria Sotheby’s International Realty

We are proud to expand our brand in Europe with the opening of Austria Sotheby’s International Realty!

Austria Sotheby’s International Realty, led by owner Wilhelm Zirngast and Chief Executive Officer Georges Luks, will serve the luxury residential real estate market throughout the country from the flagship office located in Vienna. The firm has future plans for additional offices in the cities of Graz and Kitzbühel.

“Austria is an attractive market for luxury homebuyers in Central Europe,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “For those who appreciate architecture, the capital city of Vienna is graced with an inspiring baroque style, while the landscape throughout the rest of the country varies from elegant city living, to country estates and vineyards, to mountain ski chalets, offering something for everyone. I am proud to welcome Austria Sotheby’s International Realty to our global network.”

“We have an exceptional team of sales professionals who are dedicated to delivering the best service to our clients,” said Luks. “Our approach is built on respect, proven marketing methods and a client-based approach. We are delighted to affiliate with the Sotheby’s International Realty brand in Austria and we endeavor to surpass even the most exacting demands by providing added value and service in a friendly, transparent, informative, proactive and accommodating manner.”

The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD.  Austria Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.