If there was any doubt that the luxury real estate industry is facing financial issues, the latest casualty in Aspen, Sotheby’s International Realty, should dispell that notion.
Sotheby’s closed their doors on Feb 13th, after running into financial difficulties and the franchise will be taken over by a former rival, Morris and Fyrwald Real Estate.
The luxury ski resort business has been hard hit by the financial crisis, and the value of sales in Aspen fell 46% in 2008, with the trend continuing.
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The ongoing saga of the sale of the most expensive villa in the world continues.
Back in August we reported that Prokhorov, the Russian billionaire, was the mysterious purchaser of the Villa Leopolda – on the French Cote D’Azur – at the price of 365 million Euros ($545 million) – which was a staggering price to pay for a single property.
Now the London Times reports that Prokhorov paid a $55 million deposit, but wants to back out of the deal (Prokhorov reportedly lost $7 billion in the economic crisis).
X-Architects closely collaborated with Leen Vandaele, interior decorator architect and design consultant from Squisito, to create a houseboat that inventively combines the nautical lifestyle of relaxation and enjoyment with crisp architectural tectonics.
The fundamental structure of the floating home is created from two catamaran beams, stainless steel and glass.
Nicolas Cage is leaving Bel-Air. The actor has put his home on the market for $19.75 million.
He bought the seven-bedroom, seven-bathroom spread eight years ago for a mere $7 million.
The 11,000-square-foot Tudor-style home sits on an acre just above Sunset Blvd. It has a two-story entrance, a front yard fountain, an Olympic-sized swimming pool and a two-bedroom guest house.
A Los Angeles mansion modeled on Versailles and other French palaces has been on the market since 2007 for $125 million.
The supremely luxurious home, named Fleur de Lys is modeled after the famously gilded palace at Versailles, constructed by the innovator of luxury living himself, King Louis XIV.
Carefully set amidst 5 well-tended acres, the larger than life home features 15 bedrooms, 16 bathrooms as well as Versailles-style accoutrements in approximately 53,812 Square Feet.
XTEN Architecture designed this amazing house located in the Hollywood Hills, California.
The Openhouse is embedded into a narrow and sharply sloping property, a challenging site that led to the creation of a house that is both integrated into the landscape and open to the city below.
