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Le Palais Royal Estate in U. S. Most Expensive Listing at $139 Million.

Le Palais Royal in South Florida is the most expensive listing in The U.S. for $139 Million.

Florida Estate Home The Most Expensive Home in U.S. Listed at $139,000.

Estate Home in South Florida Hits Market at $139 Million, Most Expensive in U.S.

Le Palais Royal, A French-inspired estate home currently under construction in Hillsboro Beach, Floridahas just been listed for sale at $139 million, making it the most expensive palace in the continental U.S. currently on the market.

The 60,500-square-foot palatial estate sits on over 4 acres and 465-feet of beachfront on Millionaires Mile. Le Palais Royal boasts a 492-foot private dock that can accommodate up to a 185-foot mega yacht, and an underground garage with parking for over 30 cars. Currently under the final phase of construction and slated for completion before the end of 2015, the price tag includes the finishing.

Listing agent of Le Palais Royal,  William P.D. Pierce of Coldwell Banker Residential Real Estate tells World Property Channel, “Le Palais Royal is to be the most expensive listing on the market in America, and was designed to be fit for royalty and the upmost refined individual.

Le-Palais-Royal-beach-veiw-Hillsboro-Beach-Fla.jpg

This oceanfront palace features 11 bedrooms, 17 bathrooms and the first-ever IMAX Theater contracted for private use, featuring a 50 by 27-foot screen and seating for 18 with a bar and IMAX lounge. Other exceptional features include three master bedroom suites and one presidential master suite, each with a Jacuzzi overlooking the ocean or Intracoastal Waterway.  La Cuisine du chef will feature a La Cornue Grand Palais custom range and custom cabinetry made of solid mahogany accentuated with 22-carat gold leafing. The family room will feature a 1,300-gallon Living Color aquarium enclosed within custom cabinetry that will accommodate a high definition 3-D television.

 Le Palais Royal  features a 4,500-square-foot infinity edge pool with a 12-foot cascading waterfall, double loop LED-lit waterslide, fire pit and swim-up bar for outdoor entertaining. The pool was designed with state-of-the-art technology including an automated temperature gauge sensor and triple sanitation system, which utilizes saline, chlorine and ultraviolet light. An outdoor Jacuzzi is positioned above a waterfall, and there is also a plunge pool off the master suite on the second floor of the exterior terrace. The courtyard also features an outdoor summer kitchen with a pizza oven, outdoor lounge for royal entertaining, and entrance to indoor spa massage rooms.

 

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Tour Odeon, World’s Most Expensive Penthouse Now on the Market in Monaco

Tour Odeon  in Monico, Most Expensive Complex In The World.

Odeon Condo Complex in Monico, Most Expensive Complex In The World

Odeon Condo Complex in Monico, Most Expensive Complex In The World

 Tour Odeon in Monaco will  be the world’s most expensive condo.Tour Odeon, a twin high-rise condo project  will set a new world record penthouse sales price when their 5-story penthouse sells for an estimated $400 million plus price tag. When sold, it will easily eclipse the current world-record penthouse sales price of $237 million recorded earlier this year in London’s One Hyde Park.

While the developer did confirm to World Property Channel the penthouse is now actively on the market and available for purchase, they would not confirm the price. But based on the recent uber-luxe penthouse sale in London’s One Hyde Park at less than half its size in terms of square footage (16,000 square feet) for $237 million, a $400 million to $450 million price point is possible for Monaco’s 35,500 square foot penthouse. According to Groupe Marzocco, condo sales have continued to be strong in Monaco’s newest and tallest residential skyscraper.

TourOdeon3

Tour Odeon building facts:

Height of tower: 170 meters Number of stories: 49 (plus 10 underground levels)

Number of private residences: 70 luxury apartments, sky duplexes and 1 five-story penthouse

  • Total size of project: 60,000 sq m/645,800 sq ft Total size of private residential space: 28,000 sq m/301.382
  • Total size of commercial space: 4,400 sq m/47,360 sq ft
  • Work started: End of 2009
  • Completion date: Expected end of 2014
  • Developer: Groupe Marzocco
  • Architect: Cabinet Giraldi 
  • Car parking spaces: 543 –

TourOdeon2

 

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European Asset Managers Have A Massive Exposure To Real Estate.

European Banks Are Also At Risk With Huge Inventories of REO Properties.

Europe's Banks to Offload $770 Billion of Non-Core Property Assets

Europe’s Banks to Offload $770 Billion of Non-Core Property Assets

European banks and asset management agencies have a gross exposure of $770 billion (€584 billion) to non-core real estate which is subject to disposal or work-out strategies.

The findings, published in the firm’s European Real Estate Loan Sales Market H1 2014 update, reveal that despite the record volume of commercial real estate (CRE) and real estate-owned (REO) sales seen so far this year, the deleveraging process throughout Europe is far from over.

Cushman & Wakefield Corporate Finance carried out extensive research into the non-core real estate exposure of 46 banks and asset management agencies throughout Europe for the in-depth report.  The nine European ‘bad banks’ analyzed hold over 46% of the total gross exposure to non-core real estate, indicating their importance in the CRE loan and REO sales market in the next few years.

WPC News | European Real Estate Loan Sales - Top Buyers H1 2014The publication details eight ‘mega-deals’ – those with a face value over $1.3  billion – which have closed in H1, while another four are currently being tracked.  These ‘mega-deals’ accounted for 71% of the total H1 loan sale volume; this is up from 40% in H1 2013.

Contrary to the trend observed across Europe in 2013, the average size of loan sale transactions has increased in H1 2014 to $818 million from $455 million in the same period last year – this makes it even more difficult for smaller investors to participate in the sales process.

Following a record first quarter dominated by IBRC, Q2 saw activity spread to Southern Europe as vendors look to take advantage of increasing investor appetite in the region.  As a result, Cushman & Wakefield’s Corporate Finance team estimates $21.4 billion of sales completed in the three months to July, over six times the volume closed in Q2 2013 ($3.3 billion).

When combined with the Q1 2014 figure of $32.5 billion, the total volume for the first six months of this year amounts to $53.8 billion.  This represents an increase of over 30% on volume for the entirety of 2013 and of 611% on H1 2013.

A highly active H1 has led to Cushman & Wakefield Corporate Finance forecasting that closed CRE and REO sales are now likely to reach $79 billion in 2014.

Cushman & Wakefield’s Federico Montero, Head of Loan Sales, EMEA Corporate Finance said, “The record loan sales volume seen so far in 2014 has been impressive, although the non-core real estate exposure of 770 billion across Europe signifies the enormity of the deleveraging process still to occur.  Additionally, the upcoming stress tests being enforced by the ECB will guarantee that the current high levels of activity in the market will be sustained in the next few years.”
– See more at: http://www.worldpropertychannel.com

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A Hamptons property has just taken the title of “most expensive home ever sold in the U.S.”

East Hampton 18 Acre Home Just Sold For $147 Million Dollars to Larry Rosenstein of  Jana Partners.

East Hamptons Highest sold home in history of U.S.

East Hamptons Highest sold home in history of U.S.

The 18-acre expanse in East Hampton just sold for $147 million to hedge-fund manager Barry Rosenstein of Jana Partners, according to Curbed Hamptons.

Rosenstein’s new neighbors on exclusive Further Lane include Jerry Seinfeld, hedge-fund manager Jim Chanos, and art dealer Larry Gagosian.

The home was previously owned by the late Christopher H. Browne, the managing director of a New York investment firm who bought it in the late 1990s, according to a 2007 profile in The New York Times. Browne and his partner of 10 years, architect Andrew Gordon, spent much of their time renovating and landscaping the property.

According to Page Six, when Browne died of a heart attack in 2009 in Florida, he left his entire estate to Gordon. However, legal disputes between Gordon’s and Browne’s families raged on until 2012, when Gordon — then dying of cancer — was allowed via a secret settlement to live out the rest of his life in the home he had shared with Browne.

When Gordon passed away this past fall, Browne’s family began quietly shopping around the mansion, according to Page Six. Ultimately, they sold the estate without using a broker, avoiding some serious fees and commissions (which is also why there are no listing photos of the property).

Sources told The New York Post that brokers in the area were “crestfallen” and “furious” that no broker was hired, with one broker saying that the Browne family “closed ranks. It was all very hush-hush.”

The sale easily beat out Connecticut’s 50-acre Copper Beach farm, which sold a month ago for $120 million, and the $132.5 million working Montana Ranch bought by Rams owner Stan Kroenke in 2012.

East Hampton Home is Highest Price Ever to Sell in U.S for $147 Million.

East Hampton Home is Highest Price Ever to Sell in U.S for $147 Million.

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Global  Investors Still Choose  United States As Best Property Investment Area.

Global Investors Still Favor Florida And California Lead as Best Property Investment Areas in U.S.

According to the California Association of Realtors (CAR) “2013 International Clients Survey”, global property investors preferred purchasing properties in the United States over all other countries for property investments. These foreign buyers still view the U.S. as a safe place to put their money.

The vast majority (85 percent) of international buyers said they only considered purchasing a home in the U.S., citing that the stable government and financial system would guarantee their home investment. Fifteen percent considered investing in other countries, with Canada, Germany, Mexico, China, Singapore, Sweden, and France cited as other countries most considered.
Over $68.2 billion in residential property transactions occurred in the U.S. during 2013, down from $82.5 billion in 2012 according to the National Association of Realtors (NAR).
International buyers also chose to purchase in the U.S. for its desirable location and climate (20 percent), to be closer to family and friends (20 percent), investment opportunities (9 percent), changes in work and employment (9 percent), educational opportunities (6 percent), and affordable prices (4 percent).

International buyers purchased a property in the U.S. primarily for investment purposes or tax advantages (18 percent) or to rent out (14 percent), contrary to traditional home buyers, who purchased primarily because they were tired of renting (23 percent).
While Florida received the most foreign buyer activity in 2013, looking at California specifically, Los Angeles County was the top location where international buyers purchased properties (35 percent).  International buyers also purchased homes in Orange (22 percent), San Diego (20 percent), Riverside (14 percent), Contra Costa (7 percent), and Santa Clara (7 percent) counties.
The top four states in terms of number of international buyers:

  • Florida: 23% of U.S. total
  • California: 17% of U.S. total
  • Arizona: 9% of U.S. total
  • Texas: 9% of U.S. total

– See more at: http://www.worldpropertychannel.com/north-america-residential-news/foreign-home-buyers-international-property-investors-california-association-of-realtors-2013-international-clients-survey-8159.php#sthash.nYgWWiQL.dpuf

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Shannon Biszantz

Shannon Biszantz

Shannon Biszantz reviews

CalBRE #01787015
16236 San Dieguito Road, Suite 4-12,
Rancho Santa Fe, CA 92067

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Office: 858-755-0075




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