Follow US
real estate
Gaddafi died as the richest man in the world
As per the latest data released on Muammar Gaddafi, he has been placed as the richest man in the world after beating King Abdullah of Saudi Arabia ten times and Carlos Slim three times in a queue. With over $200 billion worth of wealth distributed amongst banks, real estate and corporate investments around the world, senior Libyan officials state this figure is true through a LA Times article. Where did all this money come from? Well Gaddafi had exclusive influence and personal control over the largest oil reserves in Africa for the past 41 years. He did not invest his assets in national infrastructures such as, hospitals or educational institutions like the other oil-rich leaders around. Any expense he did make was on purchasing the support of various African leaders. The rest of his money was kept safe in government institutions like the Central Bank of Libya and the Libyan Investment Authority.
16 Virginia Beach Condos goes under hammer
If we talk about total condominiums at the Residences at the Westin Virginia Beach Town Centre, they are 17 in number. But according to a development company Armada Hoffler, the remaining 16 will be auctioned in the month of November.
Real estate auctioneers Accelerated Marketing Partners will oversee the auctioning of the luxury properties. The 16 single-family residences, including three penthouses, eight two-bedroom and five one-bedroom units, are in the tallest tower in the state of Virginia.
One-bedroom floor plans range from 780 up to 1,455 square feet; and the two-bedroom condos have 1,607 to 2,458 square feet of living space. One of the penthouses, which range in space from 2,207 up to 2,739 square feet, had a most recent asking price of $1.7 million. The minimum bid amount for the penthouse units is $640,000 to $795,000.
According to Lou Haddad, CEO and president of Armada Hoffler, after much consideration, they have decided that a developer close-out sale is the best way to maximize the value of the remaining inventory as well as the investment of the existing homeowners.
The Residences at the Westin Virginia Beach Town Center is an integral part of the Virginia Beach Town Center, which continues to thrive as a major destination for cultural, entertainment, shopping and dining experiences in the Mid-Atlantic region. When sales began in 2007 for The Residences at the Westin Virginia Beach Town Center, we quickly sold out more than two-thirds of the homes.
The mixed used luxury estate is actually located on the top 21 floors of Virginia’s tallest building, which rises more than 500 feet over the Virginia Beach Town Center. There are 119 deluxe condominiums in the building. Owners of condominiums have full access to the resort’s amenities. The auction takes place at the Westin Virginia Beach Town Center on November 13, 2011.
America’s first International Luxury Fair
Modeled on the lines of the Moscow’s famous the millionaires’ fair for the lovers of opulence, Sao Paulo in Brazil will be the face of the new luxury revolution in South America, with the first of its kind international luxury fair. To be held between November 23 and 25, this year, the event goes to show the growing economic power of the region.
The Expo Luxo as it is termed will put on display variety of latest products like luxury cars, yachts, private jets, helicopters, jewelry, watches, fashion, electronics and technology, home decor, cosmetics, real estate, spirits, gourmet goods and artwork, alongside premium services like architecture, interior design, landscaping, concierge services, private chefs and more. The event will also see exhibitions, conferences, seminars, concerts and several presentations making the event for the 35,000 plus audience interactive.
Water Mill, Estate adorned with Luxury
The Hamptons are full of lavish real estate and so it takes a lot to turn heads but this one in Water Mill, New York definitely does. Newsday reported last year that the home belongs to real estate principal and Chef Andrew Borrok. According to that article, the kitchen has a prep-kitchen, walk-in refrigeration, bakery and a finishing kitchen upstairs cost $3 million.
The home dazzles from the get-go with a a foyer that has a double staircase in cast bronze with silver and gold-leaf details and crowned by an early 19th-century, stained glass skylight. The home was built in 2005 and has a custom-designed copper roof and eight bedrooms. The four-acre property front has a heated gunite pool with a waterfall edge as well as a tennis court, a koi pond and a four-car garage. Property records show that he bought the property in 2003 for $3,687,500. It is listed at $58.5 million with Harald Grant of Sotheby’s Realty.
Jared Kushner’s Astor Place Duplex
New York Observer owner found a perfect match in Ivanka Trump who is another real estate scion and is being seen in the reality TV show Apprentice supporting her dad. Even the professional head hunters couldn’t have done a better job of locating a suitable candidate with a more appropriate profile. But the spectacular wedding has resulted in Kushner’s duplex at 21 Astor Place being listed for sale.
The 2,000 square foot duplex was bought by Kushner as recently as 2009 through a Sotheby’s broker. He had bought the two bedrooms and two and half bath condo in one of the neighborhood’s most glorious buildings, for $3.225 million. So what has changed so fast for him to decide to sell it? Well he is married and Ivanka has an equal say if not more. Like they say, a bride never likes shacking up in her husband’s former bachelor pad.
The same Sotheby’s broker has been retained to find a buyer for the stunning pad. The asking price seems to have been fixed by a simple calculation for the expected return on investment. Since the couple has quality experience of selling real estate it is expected that they would get the asking price of $4.1 million.
11 year old son of Azerbaijan President owns $44 million in Palm Jumeirah
In another case of corruption surrounding the Soviet republic, The President of Azerbaijan, Ilham Aliyev has reportedly bought Nine waterfront mansions on Palm Jumeirah in Dubai worth $44 million in the name of his son, Heydar Aliyev.
This is pretty puzzling when one takes into account the annual salary of the president – only $228,000 -, which is not enough to buy even the smallest Palm property.
Also, according to property data, Azerbaijanis with the same names as the president’s three children own real estate in Dubai worth about $75 million.
Jeana Keough’s home in the Coto de Caza now listed at $3.9 million
The seven bedroom home of Jeana Keough in the Coto de Caza is now listed at $3.9 million, a huge discount from the earlier cost of $5.5 million.
Jeana Keough, former star of the Real Housewives of Orange County and a real estate agent, is the owner of this French Country estate which includes:
Michael Schumacher’s former residence up for rent at $26,700 per month
Formula One legend Michael Schumacher has put up his old residence, the Villa La Chenai – Just 25 kilometers away in the village of Vufflens-le-Chƒteau – to be rented out on a monthly basis.
The rent of $26,700 will fetch he/she 750 square meters of area, 11 rooms, fitness and indoor swimming pool, four horses and six pit garages, a home cinema, a dressing room, a suite and a kitchen annex. Not to mention, the chance to live in the former house of the motor racing legend.
FYI: Michael Schumacher moved in last year to his new luxury mansion on Lake Geneva. This mansion has 2200 square meters of living space, a parking garage for 29 cars, a helicopter landing area and a football field.
Federation Island in Russia
Burj AL Arab Dubai blaming the English for copying their design. Today on a similar note we have Russia which is trying to compete with the Dubai with respect to its unique construction projects. Akin to the man-made Palm Islands and the kinds, Russian Government too has given the nod to the 250-hectare Federation Island that will be built in the shape of Russia, stretching from a man-made Kaliningrad all the way to a scale model of the disputed Kuril Islands. It is the brain of the Dutch architect Erick van Egeraat to create a Russia-shaped luxury island in the Black Sea near Sochi by 2014, when the city hosts the Winter Olympics. It derives its name from the planned shape of the coastline, which will resemble Russia’s boundaries. If all goes well as planned then the Federation Island will cost an estimated 155 billion rubles (over $6 billion), will have two marinas, religious centers, roads, parkland and artificial rivers, mimicking Russia’s major rivers.
Banker Buys Bronfman Townhouse
The New York Observer confirms reports that Mr. Murphy is the buyer for Seagram heir Matthew Bronfman’s 25-room town house at 7 East 67th Street. What’s jaw-dropping is the price paid for this “little den’! He has paid $33 million, a record sale for a New York mansion smaller than 26 feet wide according to appraiser Jonathan Miller. No Manhattan house of that size had previously closed for more than $30 million. And it’s quite an irony to know that this same house was bought by the Bronfman family for only $3,000,000 in 1994. It’s the game of “zeros’…..just added one more “zero’ after about 13 years. The house seems to have the most impressive entrance with a floating, elliptical staircase in the front and a glass-enclosed staircase in the back. Mr. Murphy can now move about in a place with eight bathrooms, seven levels and six fireplaces.
News & Updates
Recent News
H&M all set to unveil...
The very famous Swedish high street giants Hennes and Mauritz, who own H&M, COS, Monki and Cheap...
Aston Martin Rapide and...
A disease gets worse when you just don’t know how it hit you. The thing gets practical in terms of...
