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Pat Riley Sells Biscayne Bay Waterfront

Pat Riley, the former NBA coach, and current president for the Miami Heat, has recently sold his Biscayne Bay waterfront house for $16.75M according to the South Florida Business Journal.

Riley’s huge Gables Estates house was built in 1991 and features 12,856 sq-ft with 5 bedrooms and 8 bathrooms. The massive Mediterranean style home is perched on 80,150 sq-ft waterfront lot that overlooks Biscayne Bay and is surrounded by water on 3 sides, making it one of the most coveted peninsular-like bay front locations around. The home also features a library with fireplace, wine cellar, an elevator, sauna, spa, intercom system throughout, an onsite guard, upstairs Master Suite, and a theater room. Outside Riley’s estate you can take in the serenity of the Bahamas while enjoying the private sandy beach, manicured gardens, rolling lawns, protected boat dockage, and a resort style pool with waterfalls and aqua bar.

 

Listing information and images courtesy of Audrey Ross andmiamirealestate.com

Largest Residential Estate to be Auctioned

Auction.com, the nation’s leading online real estate marketplace, will auction an exceptional Italianate villa occupying the largest private estate in Newport Beach on April 26.

Once listed at $87 million and currently listed for $37 million, the estate is one of the most exquisite properties in the area. It includes a 16,600-square-foot main residence in the final stages of construction, along with a 7,000-square-foot 17-car garage and a variety of other luxury amenities.

The one-day auction will be held at The Resort at Pelican Hill, which is near to the property located at 1 Pelican Hill Road. Online bids via a webcast will also be accepted through Auction.com’s innovative platform that allows sellers and buyers of luxury homes to meet in a transparent auction process. The auction is a bankruptcy court mandated auction and there is no opening bid on the property. There is a 2 percent broker co-op available for agents who pre-register a successful buyer.

“The vast size of the property and the elegance of the improvements are attributes that are rarely found in the luxury market, especially in Southern California,” said Robert Friedman, Auction.com’s chairman and a founding principal. “When you also consider that the home must be sold, and there is no opening bid, this is a once-in-a-lifetime opportunity for bidders.”

The singular acreage includes vast expanses of mature gardens, a private lake, tennis court, a wine cave, a horse stable and riding area. The luxurious main residence has seven bedrooms and 13 bathrooms, which comprise a private compound that rivals any other real estate property in the region.

Terraced waterfalls, canyon, city light and distant ocean views all contribute to the majestic aura. Enhancement opportunities are virtually limitless and include the ability to add guest and accessory buildings thereby creating a personal compound unlike anything else in Newport Beach. A one-bedroom gate house also sits on the property.

“By delivering a high volume of qualified buyers to each property, we help each seller achieve the home’s true market value,” Friedman added. “At the same time, the buyer for this luxury property will be able to purchase it through an efficient system that brings transparency to the bidders. As a result, it’s a win-win for both sides.”

Auction.com’s marketing efforts have already attracted 700 open-house attendees with an additional open house scheduled on April 22 from noon-4 p.m. Bidders must pre-register online at www.auction.com/luxury.

Ozzy Osbourne Sells Malibu Mansion

Over the holiday weekend the LA Times reported Ozzy and Sharon Osbourne have sold their oceanfront house in Malibu for $7.925 million. Originally listed at $10 million last year, the price had been reduced to $8.795 million.

The three-story beach house features a walled garden, five bedrooms, five bathrooms and 4,500 square feet of living space. The master bedroom suite and a wood-paneled library take up the entire second floor.

Public records show the couple bought the house in 2003 for $5.1 million.

Jonah Wilson of Hilton & Hyland was the listing agent.

 

 

 

Rosie O’Donnell Lists Florida Mansion

Newly engaged Rosie O’Donnell has listed her Miami Beach estate for $19.5 million after her Oprah Winfrey OWN TV Network show was canceled.

Rosie’s 11,000-square-foot main house includes 12 bedrooms and 11.5 bathrooms, including a master suite with private office and terrace overlooking the water. There are also two separate guest cottages. Rosie bought the place in 1999 for $6.79 million and has done extensive upgrades over the years, including a gourmet kitchen and custom millwork.

According to South Beach Condo Blog’s Kevin Tomlinson, activity has been pretty decent for sales on the exclusive Star Island Dr., where two lots have just sold for $8 million and shoe king Donald Pliner’s Moroccan-inspired villa is also on the market for just a hair under $20 million.

 

A Beach Where Marilyn Monroe Walked

Interior View

On a secluded Pacific beach where Marilyn Monroe once strolled in retreat from Hollywood celebrity is a two story, 5-level custom-designed and exquisitely crafted home, located in a gated seaside community between Ventura and Santa Barbara. With many rooms positioned to provide views of the ocean, mountains and a classic California coastline, the beachfront sanctuary is going to auction on May 5, 2012.

Represented by Sotheby’s International Realty, the original list price of the property was $5,950,000. The opening bid is set at $3,900,000 representing a 35% decrease from the original price. This is an unbelievable value considering beachfront property is limited and the quality of the home is spectacular. The property at 2956 Solimar Beach Drive is Southern California’s most recent offering in the high-end real estate trend of marketing “trophy properties” through auction.

The Monroe Factor

Indeed…Marilyn Monroe’s voice coach rented a cottage in Solimar Beach Colony under her own name so that her study could stay there and rehearse incognito.  Although impossible to validate, there’s also a widely told story that Ms. Monroe engaged in clandestine trysts with John F. Kennedy at two separate homes in the Colony.  Confirmed is that while married to Joe DiMaggio and experiencing marital problems, Monroe was stopped by a police lieutenant for walking nude down the beach; an account of the incident—and a photo of the cottage rented by her voice coach—appeared in a 1954 issue of Confidential magazine.

Just 15 minutes south of Montecito and 5 minutes from increasingly hip Old Downtown Ventura, Solimar Beach Colony is one of the region’s better-kept secrets …the oldest private beach colony in Southern California predating Malibu Colony.  It also offers a rare joint ownership of over six acres of greenbelt with tennis courts and play area. Some of the original cottages on the roughly one mile of coastline are from the 1940s and 1950s.  Most of the properties have either been remodeled or rebuilt, thus raising the overall property values in the Colony.  The location has been chosen as home to numerous sports and Hollywood celebrities through the years allowing celebrities and their families, privacy and anonymity.

The seller in this auction is the former CPA Patricia Duggan, who is well known for her 400-acre Stonehaven Ranch in Westlake, California, where she rescues and cares for a wide array of animals including exotic emus, llamas, alpacas, peacocks and goats.  “I made use of over 30 year’s experience of oceanfront living to incorporate the best aspects of beach living into the design and building of this home,” said Duggan.  “But at this stage of my life, caring for the animals is my priority, and that means I choose to be at my ranch full time.”

With construction completed in 2008, the newer home categorically surpasses being defined by a labeled style although you may feel as if you have stepped into a tropical retreat.  The home marries a harmonious blend of a neutral palette enhanced by design elements and details of various influences.  Amenities include: a gourmet kitchen with Viking stainless steel appliances, granite and Quartz Caesar countertops and island, alder wood custom cabinets, travertine flooring, an elevator with stops at all five of the home’s distinct levels, two ocean-side master suites with a connecting balcony, hand-carved Brazilian and Honduran mahogany doors, three fireplaces and recessed lighting.  Hot tubs and fire pits can be found on both the beach-level deck and the rooftop deck.  It is protected by a full security system that includes cameras.

 

“Although home auctions are generally associated with distressed properties – the polite term for late payments, mortgage defaults and bankruptcy foreclosures – they are increasingly being held for stable, premium homes,” says Tony Fitzgerald, a broker and partner with the Manhattan Beach-based Premiere Estates Auction Company, “as in the case of this property.”

In fact, Fitzgerald has been in the business of quietly auctioning un-distressed high-quality homes and land for about 20 years.  “Because potential buyers are uncertain about prices, the market is slow,” he explains.  “But when you have a trophy property, the one-time-event of an auction can bring a sense of urgency to the sale. Our accelerated marketing brings the deal to the world as everyone wins; but ultimately, it’s the deal to be had that drives buyers and gets the property sold on auction day”.  Fitzgerald added that it’s an increasing trend in the high end, trophy real estate market place and expects auction sales to double this year from record highs last year’.

The Solimar Beach auction is scheduled to commence at 2:00 P.M. on May 5th.  Bidders should call for an invitation to attend and bid.

“This is a dream home for an owner who appreciates a custom home, but doesn’t have the desire or time to go through the arduous process of construction and permitting” noted realtor Janet Caminite, who is overseeing the sale for Sotheby’s International Realty, in conjunction with the Premiere Estates Auction Company,  “And then there is the location’s ‘cool factor’ coming from its interesting and seductive history and the fact that there isn’t another private gated community in the area that offers everything Solimar Beach Colony does with unobstructed and sweeping views of the Pacific, Islands, Coastline and Mountains.  This property is one of the most beautiful oceanfront homes I have seen become available in years.”

Even today, its takes only a wee bit of imagination to envision a beautiful, blond-haired apparition, frolicking on the sands of Solimar Beach.

Ten Top Vacation-Home Markets

Reuters compiled a list of some of the most popular and promising places for vacation-home shopping, with recent median list prices from real estate shopping site Zillow.com

Aspen, Colorado Median list price: $1,725,000

Sales were brisk in winter playground Aspen during the last year as motivated sellers accepted prices 25 percent off their 2007 peak, says local real estate agent Steven Shane.

The Hamptons, New York Median list price: $2,100,000

Bidding wars these days aren’t uncommon for well-priced homes in this group of upscale enclaves on eastern Long Island, says Cia Comnas of brokerage Brown Harris Stevens, especially for properties close to the water. Home prices surged 22 percent in the third quarter of 2011, but smaller Wall Street bonuses could slow sales in 2012.

Hilton Head, South Carolina Median list price: $475,000

Home sales in Hilton Head, known for ocean breezes and world-class golf, were up 13 percent last year over 2010, says local agent Andy Twisdale. Prices on this South Carolina island benefit from a limited supply of land.

Santa Barbara, California Median list price: $799,000

Temperate climate and easy access to the ocean and mountains draw buyers to this posh community about halfway between Los Angeles and San Francisco. The high-end market especially is heating up, with half of all deals in cash, says broker Bridget Murphy.

Avalon, New Jersey Median list price: $1,350,000

A barrier island near the southern tip of New Jersey, this seashore community has long been one of America’s most expensive zip codes. Beachfront homes range in price from $4 million to $12 million, according to local broker Paul Leiser. “As of February, there’s been a stampede of buyers,” Leiser says. “From modest condominiums to beachfront, we’ve seen an incredible run.”

Miami Beach, Florida Median list price: $447,000

International jet-setters have descended on Miami Beach in recent years, with buyers from South America and Russia in particular gobbling up high-end properties. “It’s a seller’s market,” says agent Allison Turk.

Sun Valley, Idaho Median list price: $649,000

Prices are down 25 percent to 30 percent from their 2007 peak in this year-round resort, but realtor Dan Gorham has already seen 17 properties over $2 million close this year — three times more than all of 2011, he says.

Phoenix, Arizona Median list price: $120,000

In 2006, Phoenix, a popular destination for Midwestern snowbirds, became the epicenter of the mortgage crisis as home prices tumbled. Prices ultimately dropped more than 60 percent on average, but the market seems to be back on its feet. New-home sales in the hottest areas are up 35 percent over the past month, say Jim Belifore, a local real estate consultant.

Lake Geneva, Wisconsin Median list price: $299,000

Inventories are still rising at this lakeside resort town two hours from Chicago, but local brokers say prices have hit bottom after falling more than 25 percent since 2006. Sales are climbing. “The market last year was impressive, with a full volume recovery evident by year’s end,” wrote local real estate blogger David Curry. “Yet this year, Geneva Lake is on track to absolutely obliterate recent sales results.”

South Lake Tahoe, California Median list price: $265,000

In South Lake Tahoe, tucked in the Sierra Nevada mountains, home prices are down 50 percent in the last five years, according to local real estate agents Gary and Richard Bolen, but demand was up 7 percent in 2011 and sales of properties under $300,000 grew by nearly 20 percent. Bargains are still available: Homes in the $600,000 to $650,000 price range are nearly two-thirds larger than they were in 2005.

Mel Gibson Lists Costa Rican Retreat

Entrance to the Costa Rican retreat

Mel Gibson has relisted his Costa Rican property for $29.8 million, a $5 million drop from when the property first went on the market in 2010. Located on the Nicoya Peninsula, the private 500-acre beachfront-and-jungle compound’s main residence, which overlooks the beach, is a two-story hacienda-style house with seven bedrooms and eight bathrooms, a large courtyard and a swimming pool. There are two additional guest cottages, each with two bedrooms, a veranda, vaulted ceilings, kitchen and private swimming pool. The property includes a Balinese entertaining house with no walls, a restaurant and another small cottage in the jungle.

Mr. Gibson owns several properties around the world, including a private island in Fiji. A property he owns in Malibu, Calif., is currently on the market for $11.8 million. Rick Moeser with Christie’s International Real Estate in Palm Beach and Brent Reynolds of Plantacion Properties in Costa Rica, a Christie’s affiliate, share the listing.

Hot Property: Grand Cayman

The Royal Vista Estate, located on Grand Cayman in the Cayman Islands, is a rare jewel in a cosmopolitan society, an emerging culinary destination, and a tax-neutral offshore zone. A supremely private estate situated on a bluff with a beach cove, The Royal Vista Estate comprises approximately 56 acres and boasts a helicopter pad, 850 feet of beach, an equestrian park, stables, nature trails, lakes, indigenous fruit trees, walking and jogging paths, and tennis and basketball courts. The Royal Vista Estate features ceilings made from 150-year-old solid timber, unique rooms for entertaining or relaxing, and state-of-the-art technology and security features. The 28,000-square-foot estate also offers a triple garage and staff quarters. 

The Details: US $35 Million. Sheena Conolly, Sotheby’s International Realty Cayman Islands, 345-525-3333, sheena.connolly@sothebysrealty.com.

Premier Property

Pacific Time, the Oak Bay Beach Hotel

The Oak Bay Beach Hotel, which has occupied its waterfront site in Victoria, B.C., for over 85 years, returns in May of 2012 as Victoria’s first luxury boutique resort and spa featuring private residences and condos. Located on the shores of the Pacific overlooking Mt. Baker and the islands of Haro Strait, the rebuilt hotel comprises 100 vacation hotel suites and 20 residences. Amenities include owner’s concierge, butler, and housekeeping services; car washing and valet; 24-hour room service; an onsite sommelier and wine cellar; a spa, mineral pools, and a fitness facility; and parking for owners in a secured underground facility. Vacation hotel suites range from $425,000-$1.2 million, while residences range from $1.1 million to over $3 million.

 

 

Turks and Caicos Island RE on the Rebound

President of the Turks and Caicos Islands Real Estate Association, Kathryn Brown, and also of ERA Coralie Properties Ltd. said that the local real market has been showing strong signs of bounding with relatively intense performances in the high-end section and low-end sectors. She said though, that the middle field of the market was still sluggish, as even though sales were being recorded, the exercise was not as robust as with the two other market components. The high-end sector, according to Brown, posted the strongest in sales.

The local real estate head said that overall year-to-date figures showed that sales over the period climbed 28 percent, while property prices increased between four and five per cent over the period. The high-end section of the market comprises properties valued at a million dollars and above; the middle market constitutes properties valuing between four hundred thousand dollars and a million dollars; while the low end of the market encompasses properties that value four hundred thousand dollars and below.

Brown said that the market was not only experiencing increase in sales, prices as well.

“It is recovering. But in saying that, we’ve been steadily going down since 2008, and in the last months, we have seen a recovery in not only sales but increase in prices. We see increase in sales in a lot of high-end, and possibly, the low-end is also improving, with locals buying homes because they are able to get mortgages and get loans.

“So that has been going quite nicely; sellers and buyers are having more confidence in the market. The whole sector has not improved, though. I would suggest that the higher end and lower end have improved, but the middle sector has not improved as much,” Brown explained. The high-end properties included hotel condominiums, which saw their sales slumped, as a number of condominium hotels reported sharp drop in sales of their units. Some of those hotels have since been the victims of receivership.

Brown owes the recovery of the sector in part to buyers getting more comfortable with the general economy, and with those having disposable cash saw the Turks and Caicos Islands as good place to invest and with tremendous possibly for returns on their investment.

“Also, it is a good vacation area that is safe – one of the safest places in the Caribbean. It uses the US dollar and we are still in very early stages of development in a lot of sectors. So the growth is very good potential and the prices are down, and compared to many parts of the world, we are still very inexpensive,” Brown said.  Brown believed that based on the current trend, the Turks and Caicos Islands real estate market could become one of the most robust at least in the region.

“We have a very healthy future. The Turks and Caicos has so much to offer; we still have all the assets we’ve always had. We have sun, sand and sea, and are also in close proximity to major cities in North America. Going forward, we anticipate world-wide flights that are going to come from many parts of the world. And our visibility is still growing; there are still many people in the world that never heard of us. We have a very healthy future, I believe,” Brown said. Joe Zahm, President, Turks & Caicos Sotheby’s International Realty said in the company’s website that Turks & Caicos enjoyed a “strong bounce back year in 2011, after struggling along a murky market bottom in 2009 and 2010”.

He said the resurgence was led by the following factors: booming tourism, up about 18%, led by excellent air service; stabling government and local economy; better price value in the market; excellent inventory; drastically increased sales activity in all market sectors and the fact that inventory is down for the first time since 2008.

Zahm said: “The home/villa market nearly tripled in dollar sales volume, and almost doubled in average price, led by the sale of Serendib Villa (which was once owned by developer Richard Padgett and bought by music star Prince) at $10.5M and La Dolce Vita at $6.25M (which was sold by our own Nina Seigenthaler). There was strength throughout this sector as buyers re-emerged and sellers lowered prices to market levels.”

The Turks and Caicos Islands saw its real estate market plummet after a number of banks such as Fannie May, Freddie Mac and Lehman Brothers went bust as a result of the subprime housing market crisis. The Wall Street calamity affected many parts of the world including Caribbean countries such as the Turks and Caicos Islands, and as a result, derailed many projects, which were being financed by the American financial institutions.

Hurricane Ike in August, 2008, also dealt the country another severe body blow, as it tremendously slowed down tourist arrivals. Many visitors that travel to the Turks and Caicos Islands also used their vacation time to scout condominium purchasing opportunities. But because a number of hotels were closed for as long as five months in the aftermath of the hurricane, a slump in the market was created since. The unstable political climate in the country was also said to be factor in the market.

*Island and Resort

Ryan Reynolds Lists Los Feliz Home

Actor Ryan Reynolds has listed his Lof Feliz hills home for $3.65. He bought the home  in 2010 with his then-wife, actress Scarlett Johansson. Reynolds, 35, and Johansson, 27, were divorced last year after three years of marriage.

Built in 1969, the home, known as ‘The Wong House’, rests on a private and gated bluff in the Los Feliz Hills that offers expansive vista views that stretch from West Hollywood to the ocean. The Buff & Hensman mod, which serves as a classic example of the architects’ post-and-beam style, has been carefully restored and now incorporates numerous eco-friendly features, including solar panels. A single floor residence, it offers an open 2,835-square-feet floor plan with a total of four bedrooms and three baths. The master suite includes its own private, walled garden and outdoor bath, while the den, kitchen and living room look out over the deck and pool area through a row of floor-to-ceiling glass. Such walls of glass also provide views of downtown Los Angeles and the ocean.

Bradbury Home Listed for $78.8 Million

Located in Bradbury, CA, this 42,000 square-foot estate was recently listed for a booming $78.8 million, but for good reason. The home sits on eight acres and is only recently being recognized for all of the construction and renovations that have taken place over the last eight years. Features in the estate include three floors, six bedrooms, eight baths, a ten car garage, city and mountain view, a cross-shaped pool, 15 person jacuzzi, 3D movie theater, 2,000 bottle wine cellar, poker lounge, a subterranean firing range, a temperature-controlled trout pond with a two-story waterfall, and an oak-paneled elevator.

The house is on the market through realtor.com and can be found here

 

 

Historic Bermuda Estate Listed at $45 Mill

Chelston, Bermuda’s most impressive estate originally constructed in 1939–1941 for California oil baron Carbon Petroleum Dubbs, has been listed for sale via Christie’s International Real Estate for $45 million.

This prestigious property was once the Bermuda residence to a United States Consul General for over 30 years. During that time, many famous guests visited the residence and were fortunate enough to take in all the beauty that the property encompasses. Such guests included President George Bush, Vice President President Dan Quayle, Senator John Kerry, Senator Edward Kennedy of Massachusetts, Senator Chris Dodd of Connecticut, General Colin Powell, former Secretary of State Henry Kissinger, actor Michael Douglas, and model/actress Brooke Shields.

Chelston is unique in Bermuda as a large-acreage, fully updated, private beachfront compound located within a five-minute drive of Hamilton. The 10,000-square-foot main house sits approximately 200 feet above sea level and as breath taking views of the Atlantic Ocean, the city of Hamilton, and the gardens that make up the 14-acre estate.

The compound features 15 bedrooms, 19 baths,  three guest cottages and a staff cottage, a salt-water aquarium with a living coral reef in the library, a well-equipped home cinema, a gym, a nearly Olympic-size swimming pool, a rare outdoor Chinese stone fireplace in the shape of a five-armed dragon, and a croquet lawn. The main house is on three levels with high ceilings, floor-to-ceiling windows, multiple sets of French doors, and generous room proportions. The compound also features a pavilion overlooking the pink sands and turquoise waters of Grape Bay Beach. For more information visit Christie’s International Real Estate

 

Photo Credit: JP Rouja/LookBermuda & Dan F

Hampton Glass House for Sale

Hampton Glass House

Designed by Barnes Coy Architects, this newly constructed modern home is on the market for $29.95 million. The home, which is located in Bridgehampton, NY has a glass facade with more than 9,500 square feet of living space and soaring, 10- to 15-foot ceilings throughout. The home features seven bedrooms, 10 baths, an indoor gourmet kitchen, two outdoor kitchens, media room, full gym with sauna, steam and plunge pool, an infinity-edge swimming pool with spa, and a pool house.

“The design concept was to bring the excitement and drama of the Atlantic Ocean inside the house,” said architect Christopher Coy. “There is a protective dune in front of the house, which suggested that the main living spaces and the master suite should be located on the upper level to ensure the best view of the ocean. The upper story is cantilevered above the ground-floor structure to enhance a sense of floating or flying above the beach, which both increases one’s intimacy with the ocean yet creates a feeling of privacy and security.” The home is listed with Susan and Matthew Breitenbach of The Corcoran Group.

 

Top Luxury RE Market: Malibu

50 Top Luxury Real Estate Markets in the USA: Malibu, CA

From the outside looking in Malibu has a very high profile due, in part, to the paparazzi and the media shining a spotlight on its glamorous surface.  Certainly, it is known as getaway for many Hollywood celebrities and titans of business.  The sitcom, Two and a Half Men takes place here. Even some Malibu real estate agents became local celebrities when they were featured on the reality TV show, Million Dollar Listing.  But, beneath the surface Malibu has the intrinsic values of a small, rural California coastal beach town with a Mediterranean climate and a close-knit community.  This, plus its close proximity to the diverse amenities of Los Angeles and easy access to the entire globe, makes Malibu one of the top 50 luxury real estate markets in the world.

According to Irene Dazzan-Palmer, “What makes the lifestyle in Malibu so extraordinary is the caliber of people you meet or run into daily.  With great people and outdoor living Malibu is like ‘Aspen at the beach’. One day you can go for a walk on the beach, the next day you can go hiking in the mountains.  You rarely need to leave town because there are so many wonderful shops and restaurants close by. It is wonderful to spend time in Los Angeles.  But, I always love to get back to ‘The BU’ as the locals call Malibu”.

Irene partners with her son, Sandro Dazzan, who was recently honored by Forbes Magazine as one of the ‘30 under 30 (years old)’ for closing $100 million in home sales in 3 years, including Malibu’s 2011 highest).  Sandro says, “In Malibu, you grow up in tune with your environment, especially if you are into water sports.  Surfing clears your head.  The water is always moving and is teeming with sea life. Sometimes you swim with dolphins or watch the silhouettes of pelicans diving to catch fish against a backdrop of an amazing sunset”.

Chris Cortazzo explains it this way, “Contrary to what many assume, the Malibu lifestyle is not pretentious. It is casual and comfortable. It may be sophisticated, but the hype about pretentiousness is false.  It is not about what you have, because not everyone here is rich.  It is about being nice. The ocean is definitely a grounding force; it has incredible energy that can bring out the best in you.”

Jeff Certow says, “In the summer, Malibu is besieged with tourists which is great for local businesses.  Come Labor Day, however, the entire town breathes a sigh of relief and celebrities can once again return home because the locals do not hassle them.  Everyone gets along here in this small town; it just feels normal”.

 

Malibu does have its private gated enclaves such as the famous Malibu Colony. But, very few of the 12,500 residents actually live right on the beach. According to Jim Rapf, “Although, it is true that some beach front residents own a section of the beach up to the mean high tide line, most of the beaches in Malibu are open to the public. The town itself actually encompasses 21 miles of coastline”.

Shen Schultz points out that, “With fewer homes right on the water, these homes generally hold their value because they are usually in demand”.  Yet, living right on the beach does not appeal to many who treasure their privacy. Jack Pritchettsays, “Some people prefer the seclusion and solitude of the canyons in the mountains.  The tranquility in the hills means no neighbors and large gardens. Besides, you can drive by the ocean any time you go into town”.

According to Ellen Francisco, “One of Malibu’s biggest draws is the public schools.  There is tremendous parental and community support for the schools here both in volunteer time and in private funding of projects, activities and sports programs. For example the music department is outstanding. Musicals at the high schools are comparable to professional performances”.

Marcus Beck says “The public schools in Malibu are comparable to private schools. Families here have the same values.  Parents spend time in the classroom; they will help grade tests, for example to free up the teachers to concentrate on other things. Fundraisers are very successful and help to provide Malibu kids with an excellent education. The indoor-outdoor lifestyle that makes Malibu so attractive to adults and kids alike, also enriches the children’s education because there are so many outdoor activities”.

Mike Cunningham, says, Malibu definitely has a small town feel that is very much family oriented. The weather is wonderful and it is just gorgeous.  There is quite a diversity of successful people who live here from the entertainment industry, to the sports industry to business.  Yet, they all have something in common. Once people move to Malibu they do not want to move away!”

Photos Are Courtesy of Top Local Agents & Brokers Interviewed for This Article
To see previous Top 50 Luxury Markets, click here to see properties for sale in Malibu, CA Properties for sale in Malibu

Steven Tyler’s New Hawaiian Home

‘American Idol‘ judge Steven Tyler recently purchased a one-acre, oceanfront estate in Maui with new fiancée Erin Brady. The 3,000 square foot home, which Tyler bought for $4.8 million, was built in 1988 and features 3.5 bathrooms, 2 bedrooms, an infinity-edged saline pool and a floor-to-ceiling aquarium. The home was previously owned by Fred Constant, owner of Constant-Diamond Mountain Vineyard, who told the Wall Street Journal that he sold the home because he didn’t spend enough time at the property.

*More Images of Tyler and Brady’s Maui Home

 

Hot Property: Galiano Island, BC

 

 

 

 

 

 

 

 

Home to otters, sea lions, and orcas, Galiano Island, British Columbia, is rife with spectacular sights. One magnificent home from which to view them is the newly built Blue Raven. Situated on 2,400 feet of oceanfront amidst forest, ponds, and open lawn, the 5,000-square-foot estate is brimming with views from all principal rooms and is ornamented with expansive windows, French doors, and 1850s reclaimed wide-plank Hemlock floors. The house comprises five bedrooms, and the master bedroom boasts 10-foot ceilings and a private office. The property is also equipped with a 1,400–square–foot oceanfront guest house and 700–square-foot caretaker’s quarters, so there’s plenty of room for everyone. – Rebecca Kensil

The Details: $7,900,000, Shara Turner, Sotheby’s International Realty Canada, 778–374–3100, sturner@sothebysrealty.ca, sharaturner.com.

Margaret Luce’s Jupiter Home

Margaret Luce

Actress, model, and philanthropist Margaret Luce is well versed in the luxe South Florida lifestyle.

An extensive background in fashion and an appreciation for the outdoors brings a delicate glamour to Margaret Luce’s newly renovated Palm Beach County home. These days, when the multi-tasking beauty isn’t busy juggling her jobs as actress, philanthropist, film producer, and model, Luce can be found enjoying the beauty of her recently renovated home, which features 30-foot ceilings, four bedrooms and bathrooms, a pool, a sauna, and a stunning bar. With South Florida’s stunning scenery as its backdrop, it’s safe to say that for Margaret Luce,  there’s no place like home.

Where is your home located? The house is located in Jupiter, Florida, in a gated community right outside of Palm Beach.

What is your favorite room in the house and why? My absolute favorite room in the house is the living room. It has a ‘50s glamour theme to it that brings me back to another time. The best part is that it doesn’t have a television, so everyone can focus on the music and conversation rather than the TV.

What drew you to this property when you were house hunting? The location drew me in. It’s in a secluded neighborhood, but it’s also close to the major highway, which is convenient for getting to and from casting calls. The 30-foot ceilings, lots of natural light, and open space are also what made it the perfect getaway home for me.

What is the best part about living by the ocean? Walking right to the water and being in an instant Zen state of mind, regardless of what is going on in my life. It reminds me that life is constantly changing and there are things to come. Simply stated, nature moves me.

Luce's South Florida home

What is your favorite oceanfront destination to visit and why? My top three are St. Barts, The Fountainebleau [Hotel] in Miami, and Costa Rica. Each of these destinations allows me to sink my feet into the sand, enjoy the vibe, and get lost in the culture.

How does the design of your home help you take advantage of its oceanfront setting? It’s designed with availability to the outdoors in mind. As soon as I step out to the backyard, all the wildlife is at my fingertips. It’s a very comfortable and laid-back lifestyle.

 

 

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David Spade Lists Malibu Beach Home

Actor David Spade, famous for his comedic presence on sitcom Rules of Engagement, set his Malibu beach home for sale at $13.5 million, a sweeping price from the $9.3 million Spade bought the oceanfront property for in 2005.  With plenty of space to lounge, the two story estate of 3,700 square feet sits on a quarter-acre lot with four bedrooms and 3 1/2-bathrooms.  The luxury estate is adorned with  four fireplaces to stay cozy, a magnificent cylindrical staircase, pool, and balconies and decks that overlook the azure ocean.

Bryan Harper of Coldwell Banker’s Malibu Colony office is the listing agent.

 

“Playground of Presidents” Island for Sale

Prospective high end home buyers may envision owning a pristine strip of beachfront, but the idea of owning an entire island may not seem plausible. However, just a 10-minute boat ride from the mainland in Sherwood, Maryland, is Jefferson Island, a 20-acre island in the Chesapeake Bay that is on the market for just $3.950 million. The island is home to a five-bedroom house,  a three-bedroom guest house, a 750-foot dock, and about 7,050 feet of waterfront land for plenty of space to run, swim, fish, and cruise.

Jefferson Island has in the past been dubbed “Playground of Presidents” as Presidents Franklin D. Roosevelt and Harry S. Truman vacationed on the island. Jefferson Island was given its name in 1930 when an array of Democrats bought the island and built a hunting retreat they named the Jefferson Island Club. That club was destroyed in 1946 in a fire, but new houses were built over in 1950. Other buildings on the island include ones that housed Secret Service agents who accompanied visiting presidents to the island. For a time, Jefferson Island was owned by the Smithsonian Institution, and they used the property to study of water birds and other species, but the property is currently privately owned.

In the late 1800s, Jefferson Island was originally part of Poplar Island, but was severed from it due to erosion and rising sea levels.  Poplar Island has a warlike history of being part of an Indian massacre and used by British troops as a campsite.

For extra information about Jefferson Island, contact Lacaze Meredith Real Estate in Easton, Maryland at 410.822.6272 or visit ExtraordinaryProperties.com

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