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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
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
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
The developer behind 432 Park Avenue on New York’s Billionaire’s Row has hit back at a lawsuit alleging design defects. As reported by The Guardian, LA-based CIM Group calls the claims within the lawsuit “vastly exaggerated” in their response filed this week to the New York state supreme... View full entry
Lower Manhattan’s 8 Spruce Street, the Frank Gehry-designed rental tower instantly recognizable for its one-of-a-kind undulating surface, is for sale with an equally eye-catching price tag. — The Real Deal
Owner Brookfield Property Partners and Nuveen, the real estate arm of insurance company TIAA, have put the 76-story building on the market for $850 million. At the time of its opening, the approximately 900-unit tower was the tallest residential building in North America. The building... View full entry
The supertall Central Park Tower, the latest addition by Extell Development to Midtown Manhattan’s Billionaires’ Row, had more recorded sales in October, including two full-floor aeries. But both of them, like other recent transactions in the new building, closed well below their asking price. — The New York Times
Of all the recent sales at Central Park Tower, just one was made around the asking price. At the Adrian Smith + Gordon Gill-designed luxury skyscraper, which boasts the highest roof in the Western Hemisphere, The New York Times reports three recent apartment sales well below their listed prices... View full entry
An Ole Scheeren-designed luxury condominium development is taking shape in Vancouver, the architect’s first North American residential building and the only one worldwide where he has designed both the interiors and exteriors. Developed by Bosa Properties, in partnership with Kingswood... View full entry
The skyscrapers of New York’s so-called Billionaires’ Row in Midtown Manhattan have something in common besides eye-watering prices: The city still considers them active construction sites, with a range of safety-related requirements that remain incomplete, sometimes years after occupancy. — The New York Times
All of the eight new Billionaires’ Row towers are reportedly missing final signoff from the Department of Buildings on elevators and plumbing, with seven lacking final signoff on fire sprinklers and standpipes. Five are missing approvals from the fire department. According to The New York... View full entry
The condo board at the supertall tower 432 Park Avenue, one of the most expensive addresses in the world, is suing the developers for $125 million in damages, citing multiple floods, faulty elevators, “intolerable” noise caused by building sway, and an electrical explosion in June — the second in three years — that knocked out power to residents, according to a lawsuit filed Thursday. — The New York TImes
Reports on the shortcomings of the nearly 1,400-foot-tall, Rafael Viñoly Architects-designed luxury tower were initially released in February. Identified by an engineering firm hired by the condo board, damages include the estimated cost to repair around 1,500 construction and design defects in... View full entry
Less than a month after the release of his long-awaited album, “Donda,” Kanye West paid $57 million for a Tadao Ando-designed Malibu beach house, which first listed in May 2020. — The Real Deal
West purchased the 4,000-square-foot concrete home in an off-market deal with retired Wall Street financier Richard Sachs. It was initially listed at $75 million in May 2020 before being removed from the market. The former owner commissioned the home, and it was completed in 2013. It has four... View full entry
A zoning battle over the height of a planned residential tower in Manhattan’s Upper West Side has been resolved in the New York Supreme Court, ending a yearslong legal dispute that was seen by some as a potential harbinger for luxury development schemes in the nation’s largest city. ... View full entry
A Los Angeles megamansion once expected to list for $500 million has gone into receivership after the owner defaulted on more than $165 million in loans and debt, according to court filings. The 105,000-square-foot Bel Air estate, known as “The One,” was placed into receivership by the Los Angeles County Superior Court and is expected to be relisted at a lower price in the coming months, according to people familiar with the property. — CNBC
In July, the Los Angeles County Superior Court named Ted Lanes of Lanes Management as receiver, who is now tasked with preparing "The One" for sale and selling it to recoup debts owed to lenders. The megamansion is expected to be listed on the market in the coming months once Lanes secures the... View full entry
Commercial real estate may have been hit hard this past year due to spikes in remote working and the emergence of "post-COVID ghost towns." However, has the opportunity for converting empty offices and hotels turned into a feeding ground for developers? Must the solution always result in some form... View full entry
The developers of Waldorf Astoria Residences Miami, planned as the city’s tallest residential tower at 100 stories, are launching sales, The Real Deal has learned.
The luxury project, at 300 Biscayne Boulevard, will be the highest skyscraper south of Manhattan at 1,049 feet tall, the developers said. Property Markets Group, Greybrook Realty Partners and Hilton are partnering on the tower.
— The Real Deal
The ambitious project first appeared on Archinect as 300 Biscayne back in 2017. According to The Real Deal, Canada-based Uruguayan architect Carlos Ott designed the 1,049-foot-tall (320 meters) tower, and Sieger Suarez is the architect of record. A Waldorf Astoria-branded condo doesn't come cheap... View full entry
The Miami-based architecture, interior design, and planning firm Oppenheim Architecture shared images of their latest luxury mixed-use project, the Jewel. In February 2020, we connected with firm founder Chad Oppenheim for a Studio Snapshot interview. During the interview... View full entry
