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An office building in Harlem has become the first building in New York City, and one of the first in the country, to be listed on the stock market in its own right. Located at 286 Lenox Avenue, the 18,759-square-foot building holds four floors of office and retail, with three tenants including... View full entry
A self-declared “crypto paradise” is coming to a remote island nation in the South Pacific featuring designs from Hong Kong-based firm James Law Cybertecture for what is billed by developers to be the world’s first blockchain-based democracy. Located in Vanuatu, the 800-acre private... View full entry
This house on the real estate market in Scottsdale, Arizona, for $2.1 million is throwing some serious shade — in the coolest way possible. How? The “one-of-a-kind” property is basically all underground, but not in “bunker” fashion. — The Sacramento Bee
The 3,300-square-foot, five-bedroom, four-bathroom home is described as an “earth-sheltered subterranean home” designed “to create highly efficient living.” According to its listing on real-estate marketplace Zillow, the residence was built in the 1970s, designed in response to high costs... View full entry
An L.A. developer has a new approach to the so-called tenancy-in-common, or TIC, model, in which residents share ownership of the property. Instead of converting old, rent-controlled buildings into TIC properties, the developer is replacing single-family homes with new townhomes.
Some real estate experts said the model could help the region’s gaping affordable-housing problem, particularly after a new state law opened more areas to similar development.
— The Los Angeles Times
S.B. 9 allows for up to four units to be built on plots formerly reserved for single-family developments exclusively. Since the bill was enacted, many investors have begun to demolish single-family units in order to construct the newer TIC model of townhouses, which was supposedly pioneered by a... View full entry
The mega-mansion known as “The One” sold Thursday for $126 million at a bankruptcy auction. That’s a huge discount from its $295-million listing price, even with a 12% auction fee bringing the total to about $141 million.
Concierge Auctions, which handled the sale, said its auction site drew views from 170 countries, including Australia, the United Kingdom, Germany, France and Italy — and generated some 2,800 prospects.
— Los Angeles Times
Developer Nile Niami had said during its construction that he hoped to someday see the 105,000-square-foot megamansion sell at a price point around $500 million. The One eventually went into default and was last seen in October when it was placed under receivership by the county. Previously on... View full entry
On Thursday, USC announced that it had finalized the sale of the home to Richard E. Weintraub, president and CEO of the Weintraub Real Estate Group, a Los Angeles developer who has worked with historic properties in the past. (He and fellow developer Tom Gilmore helped bring the old St. Vibiana Cathedral in downtown L.A. back to life as a restaurant and events center.) — LA TImes
The home hit the market in July and has undergone extensive restorations in order to repair structural damage caused by the 1994 Northridge Earthquake. The need for additional repairs was reportedly behind the agreement reached between the school and Weintraub, which negotiated a reduction of the... View full entry
Miami is now number one on a list of the most expensive areas to own a home in the United States according to statistics published in the industry blog The Real Deal. The city surpassed New York and Los Angeles in the February edition of RealtyHop’s Housing Affordability Index on the wings of a... View full entry
Those looking to spend their lives in the wonderful world of Disney may soon see their high hopes fulfilled after the 99-year-old entertainment giant announced a slate of new master-planned communities that will begin to take shape in its namesake’s one-time Southern California home. Each... View full entry
Michael “Flea” Balzary no longer has any need for his funky architectural digs tucked away in the La Crescenta foothills. The Red Hot Chili Pepper bassist has now officially listed the pedigreed property in the unincorporated community near Glendale, asking a hefty $9.8 million for the one-of-a-kind refuge he picked up for $4.3 million almost four years ago. — Dirt.com
Flea purchased the Michael Maltzan-designed complex, which includes an outdoor movie pavilion, redwood cabin, and smaller two-bedroom house Richard Neutra designed for his secretary Dorothy Serulnic, from artists Lari Pittman and Roy Dowell in June of 2018. Engel Studios, Cameron Carothers... View full entry
At present, Pritzker Prize–winning architect Tadao Ando is building Kim’s Palm Springs home, which she describes as “concrete, gray-toned, and really zen,” while Kengo Kuma, who designed the National Stadium for the 2020 Tokyo Olympics as well as LVMH’s Japan headquarters, is creating a glass-and-wood lake house for her in an undisclosed location, where Kim travels every Fourth of July. — Vogue
The Palm Springs home and new Kuma design will offer some competition to the pricey portfolio her ex-husband has been building with his recent $57.3 million acquisition of an Ando-designed Malibu home that was custom-built for investment manager Richard Sachs in 2013. Tadao Ando Interview... View full entry
Lloyd's of London (SOLYD.UL) is considering whether to remain in its flagship City of London headquarters and may make a decision this year, the commercial insurance market said on Tuesday. — Reuters
The news comes just over a month after the death of its Pritzker-winning architect in London at the age of 88. A Lloyd’s spokesperson pointed to the shifts in workplace culture brought on by the Coronavirus as significant factors behind the potential change. The insurance giant's... View full entry
The opulent Sicilian castle featured in the third installment of The Godfather franchise has just gone on the market. For a cool €6m prospective buyers can expect 22 bedrooms, eight bathrooms, a wine cellar, an artist’s studio, a library, a private chapel and 2.1 acres of parkland. — The Art Newspaper
The fate of the sizable art collection located inside the house remains an important (and much more valuable) question as so far only the in situ works that exist in the house have been confirmed included in the sale. The manse was commissioned as a collector’s de facto private museum by a Baron... View full entry
Together, ONE Sotheby’s International Realty and Voxel Architects, along with general contractor and NFT collector Gabe Sierra, are introducing the first ever ‘MetaReal’ mansion that includes a real-world home and a virtual counterpart in the metaverse. The virtual home will live within The Sandbox metaverse.
The buyer of the NFT asset will also acquire ownership rights of the physical home, set to be completed in Miami in Q4 of 2022. This is the first time something like this has been done.
— Forbes
The company picked the up-and-coming virtual design firm that has rapidly gained a reputation for its metaverse designs hosted by platforms like Decentraland. Under a licensing agreement, the real estate entity leases its name from the -year-old auction house, which itself has dabbled rather... View full entry
Two patrons of former Texas Tech University professor Robert Bruno’s famous Ransom Canyon are up in arms over the fate of one of American architectural history’s most significant self-built structures. Texas Monthly is reporting that plans for the corten steel creation have caused an outcry of... View full entry
Chinese authorities have taken over the Gensler-designed, under-construction Evergrande Guangzhou Football Stadium, commissioned by indebted property developer Evergrande, which was due to become the world’s largest football stadium by capacity, according to Reuters. — Global Construction Review
The Chinese government will either sell or take over the stadium via the state-owned Guangzhou City Construction Investment Group. As reported by Reuters, construction on the stadium has been halted for at least three months, in which Evergrande has been struggling to meet repayments on over $... View full entry