From Sea to Shining Sea

We explore current trends in luxury waterfront living across 14 markets in the U.S., Canada and the Caribbean.

By Sarah Binder

PHOTO COURTESY HARRY NORMAN REALTORS Lake Burton, Georgia

PHOTO COURTESY HARRY NORMAN REALTORS
Lake Burton, Georgia


Bays and lakes. Reservoirs and rivers. Oceans and seas. From the Atlantic to the Pacific, the myriad options for luxury waterfront living in North America are as different as a man-made reservoir in the middle of Texas is from Paradise Island in the Bahamas. Whether one encounters a buyer’s or a seller’s market depends on the selected location; however, one trend never changes. Homeowners desire to live on or near water just as much, if not more, as their ancestors once did.
Halifax, Nova Scotia
Known affectionately as “Canada’s Ocean Playground,” Nova Scotia and its capital, Halifax, entice relocaters and second-home buyers with ease of access, sheer natural beauty, and a plethora of activities. More than 532 trails and pathways, 33 beaches and 878 parks provide residents with ample recreational opportunities including sailing, fishing, kayaking, cycling and walking, explains Mariana Cowan of Coldwell Banker Supercity Realty.
With one of the largest harbors in the world and fast connectivity to Toronto, New York and Europe, Halifax is a major business center. Cowan expects recent developments to have a positive impact on the luxury market, which currently is a buyer’s market with an abundance of inventory and many properties selling below appraised value.
“The federal government announced an $11.9 billion, five-year commitment to infrastructure for our city,” she says. “Also, the CAT ferry service from Yarmouth, Nova Scotia, to Portland, Maine, resumed its service after six years away. This will create more employment opportunities and give a healthy boost to tourism in our region.”
Despite a slow-paced market, signs of improvement are emerging. “Sales are marginally increasing for June,” Cowan notes. “In the past six months, two properties in the south end of Halifax have sold at $4 million to $5 million.”
©BOB AND ERNIE PHOTOGRAPHY New Hampshire

©BOB AND ERNIE PHOTOGRAPHY
New Hampshire


Lakes Region, New Hampshire
Surrounding Winnisquam Lake, Squam Lake and Newfound Lake, New Hampshire’s idyllic Lakes Region is marked by the crown jewel, Lake Winnipesaukee, the largest in the state at 69 square miles. Here, daily decisions may include whether to fish, read by a fire, explore quaint New England villages or savor fresh, clean air on a leisurely stroll.
In contrast to the relaxed way of life in this family oriented region, the pace of luxury waterfront sales is swift.
“Waterfront listings are still pretty plentiful, but the excess inventory is rapidly being sold,” explains Chip Maxfield, president and co-owner of Maxfield Real Estate. “This means that higher prices are just around the corner.”
Buyers, largely from the greater Boston area due to a brief two-hour driving time, have spurred a 35-percent increase in waterfront sales volume last year, according to Maxfield.
On Lake Winnipesaukee, $1 million to $2 million is the most popular price range, he notes. At the opposite end of the spectrum, “currently there are four properties over $10 million, with the highest listed for $16 million.” The $16 million price tag will fetch an architecturally designed residence on a 6-acre parcel with 420 feet of waterfront, and both mountain and lake views.
Dallas and Fort Worth, Texas
For luxury buyers seeking a vibrant lifestyle, Dallas and Fort Worth’s sizable lakes and reservoirs offer waterfront living in proximity to metropolitan amenities such as high-end shopping, fine dining and cultural pursuits.
“The waterfront market in the Dallas/Fort Worth area is always healthy, as there are a limited amount of waterfront properties. Therefore, demand typically exceeds supply,” explains Aidan Flores, a broker and Realtor with Coldwell Banker Residential Brokerage.
With just one natural lake in the state, Caddo Lake, located a few hours east of Dallas, buyers focus on the many man-made reservoirs. Those that allow buyers to maximize their luxury waterfront experiences with private boat docks are most desirable, says Flores. These include Lake Ray Hubbard, Possum Kingdom Lake, Lake Cypress Springs, Grandbury Lake, Eagle Mountain Lake, Cedar Creek Lake, Lake Fork and Lake Tawakoni.
Flores notes that listings over $1 million are common. “Sales of waterfront homes should remain steady during the remainder of the year, especially if they are marketed correctly by a waterfront property expert,” he says.
Venice Beach and Marina del Rey, California
With Google and Snapchat offices located in Venice, just two of hundreds of technology companies that have earned Los Angeles’ Westside region the moniker of Silicon Beach, it is no wonder that the business boom continues to propel property values and result in very limited oceanfront inventory.
“Oceanfront homes and condos increased in price about 24 and 17 percent in the past year, respectively,” says Tami Halton Pardee, founder and CEO of Halton Pardee + Partners. Prices range widely from $2.2 million to $40 million; although the area’s smaller property lots reach a more common ceiling of $15 million, she says.
Outdoor concerts and boat parades exemplify the energetic lifestyle, while the marina is a boater’s paradise, holding the designation as North America’s largest man-made small craft harbor with 5,246 boat slips. Oceanfront buyers enjoy Venice’s wide beach, which allows homes to be set back from the water.
In addition to local interest from Los Angeles, a healthy amount of buyers come to Venice Beach and Marina del Rey from New York City. “They like our city vibe on the ocean,” Pardee explains.
Hilton Head Island, South Carolina
Hilton Head Island is in the midst of a remarkable renaissance while maintaining its distinctive charm. In the last few years, the area has experienced a surge of redevelopment, with more than half a billion in investment and redevelopment in real estate, resorts and new dining and entertainment options, according to Wayne McDonald, broker in charge at Premier Island Properties.
Despite the focus on new infrastructure, this 12-mile barrier island retains the character that earns it recognition as one of Travel + Leisure’s America’s Favorite Towns and World’s Friendliest Islands.
“Buildings must blend with the color palette of nature,” explains McDonald. “There are no streetlights on the island; the founding fathers believed you should be able to see the stars at night and that rule still holds true today.”
The island’s unique atmosphere beckons many waterfront buyers, who find waterfront homes priced from $2 million to $12 million.
“Our current inventory is becoming absorbed quickly,” says McDonald. “There is a scarcity of oceanfront lots. Buyers are tearing down older properties and building their home within a few years of purchase.”
With more than 2.6 million visitors each year, McDonald expects 2016 sales to surpass those of last year. “Today’s travelers are tomorrow’s residents,” he says. “People have a love affair with the Lowcountry and many choose to stay.”
PHOTO COURTESY HARRY NORMAN REALTORS Lake Burton, Georgia

PHOTO COURTESY HARRY NORMAN REALTORS
Lake Burton, Georgia


Lake Burton, Georgia
Just 90 minutes from the greater Atlanta area, Lake Burton has long been the outdoor playground of choice for city residents seeking to enjoy crystal-clear waters and activities such as golfing and hiking the nearby Appalachian Trail. Recently, two distinct groups have emerged to take advantage of lakefront listings ranging from $479,000 to $5.9 million.
“Lately, we have been seeing a lot of younger buyers from the booming Atlanta technology industry, along with many buyers from Florida who want to escape [their state’s] heat,” explains Julie Barnett, a Realtor with Harry Norman, Realtors – Luxury Lake and Mountain.
Despite these different motivating factors, many buyers seek similar amenities. “Many Lake Burton residents are members of Waterfall Club at Lake Burton, a private club that offers a golf course, spa, fitness center, three restaurants and a boathouse,” she says.
Barnett notes that the area’s strongest sales activity typically occurs between Memorial Day and Thanksgiving, with strong end-of-year sales attributed to the beautiful fall foliage. Rabun County is comprised of approximately 67 percent National Forest and Georgia Power Land, allowing for undeveloped, long-range mountain views. In 2015, she says, Lake Burton saw four sales over $3.5 million.
Lake Tahoe, California / Nevada
Recent luxury redevelopment, combined with its reputation as a perennial favorite for all-seasons outdoor recreation, contributes to an outlook for a steady increase in sales through 2016 in Lake Tahoe.
“Redevelopment is progressing nicely around Lake Tahoe with old buildings being replaced with environmentally sensitive development. Several new luxury projects are in the works,” explains Susan Lowe, senior vice president and corporate broker for Chase International. “For instance, Zalanta is a luxury condo project underway in Stateline Town Center. You can literally park your car and do everything Tahoe has to offer without getting back in the car: ski, bike, hike, golf, water sports, beach, entertainment and more.”
Lakefront homes currently range from the high $1 million to $50 million range, Lowe says; prices vary from area to area, with Incline Village typically being the highest-priced area.
Already, Lake Tahoe has seen two notable sales this year. The two highest-priced sales since the first of the year were 1131 Lakeshore in Incline Village, Nevada, for $25.25 million and the historic Julia Morgan home, Twin Pines, in South Lake Tahoe, California, for $8.5 million, Lowe notes.
PHOTO COURTESY VILLA REAL ESTATE Newport Beach, California

PHOTO COURTESY VILLA REAL ESTATE
Newport Beach, California


Newport Beach, California
Newport Beach’s approximately 700 oceanfront homes enjoy access to some of the world’s most desirable beaches. Understandably, prime luxury waterfront opportunities are so rare that buyers usually have to wait years for the right property to become available. The lack of homes for sale in any given year helps to increase property values, explains Steve High, president of Villa Real Estate.
“In Newport Beach, luxury waterfront homes tend to be passed down from generation to generation,” he explains. “Frequently, the death of an owner is what precipitates the sale of a property.”
This trend already has been exemplified this year in the sale of 13 Bay Island, sold on May 5 for $10.8 million. A private, six-acre sanctuary of 24 waterfront homes, Bay Island features wide, sandy beaches and mature specimen gardens.
“The property had been in the same family for over 85 years and was being sold due to the death of the remaining family member,” High says.
Newport Beach’s relatively small lots command premium prices for their square footage, resulting in a luxury waterfront price range of $3 million to $30 million. To maximize property value, explains High, “homebuilders and owners are building luxurious subterranean areas that feature movie theaters, nightclub-style bars, guest bedrooms and state-of-the-art exercise rooms.”
Westchester County, New York
Just a short drive or convenient train ride from New York City, Southeastern Westchester County provides an escape for New Yorkers seeking more living and outdoor space for their families in both primary and secondary waterfront residences, explains Michèle Flood, associate real estate broker for Coldwell Banker Residential Brokerage.
The area’s abundance of water sports, including swimming, sailing and kayaking, along with schools highly rated in national rankings, draw those seeking active lifestyles to this buyer’s market. “The number of active waterfronts on the market is relatively high at 26, making the market favorable to buyers,” says Flood. “Waterfront homes sold in the past two years have ranged from the mid-to-upper-$2 million category to the low-$20 million category.”
Despite high inventory and a slow pace, the area has seen several notable sales this year. “There was a recent open waterfront home on 2.8 acres in Rye that sold for $21.15 million. Interestingly, it sold to a local resident,” Flood notes. “There are currently four waterfront homes with contracts signed and list prices ranging from $1.995 to $6.4 million.”
Naples, Florida
Naples’ ease of access to the Gulf of Mexico, many open waterways, world-class golf courses and high-end shopping have established the southwest Florida city as a longstanding favorite among waterfront homebuyers. Recently, new luxury developments and a booming local economy are influencing the market, as well.
Pre-empty nesters seeking seasonal properties traditionally have constituted much of the buyer demographic and still do; although, younger families increasingly are moving to Naples permanently, according to Emily K. Bua, estate specialist with John R. Wood Properties. These families are drawn by expanding job opportunities in retail, hospitality, nursing and education.
Regardless of age, homeowners can find a wide variety of activities to suit their interests.
“Naples is extremely cultural. There is something for everyone, from our beautiful beaches, paddle boarding through the back waters, and fitness activities to our salt caves, cooking classes and tons of restaurants,” explains Tade Bua-Bell, broker associate with John R. Wood Properties.
The current state of the waterfront property market is stable, says Bua-Bell, with an increased demand over the last few years for new construction. “There are now spec home opportunities that didn’t exist years ago available,” she says.
PHOTO ©VHT Lake Michigan, Michigan

PHOTO ©VHT
Lake Michigan, Michigan


Lake Michigan, Michigan
Chad Gradowski, a Realtor with Coldwell Banker Residential Brokerage, memorably describes Lake Michigan as “an inland ocean where you can watch a spectacular sunset in the summer and marvel at the frozen tundra in the winter.” The lake’s waterfront communities each have diverse vibes and unparalleled water-related activities; however, across the board, one reason brings buyers to them all.
“One of the top reasons that people are motivated to buy here is that they have a family history of coming to Harbor Country. So many times people grew up in a family beach house, or had a relative with a home here, and they want to carry that tradition on to their own families,” explains Gradowski.
Median pricing for lakefront homes in New Buffalo, Michigan is about $2 million. “As far as notable sales, there is a really great example of a 4,000-square-foot, nicely updated lakefront home with 100 feet of frontage on approximately an acre of land that received multiple offers within the first two weeks of listing and is currently a pending sale,” says Gradowski. “This is a reflection of our inventory being a little low.”
“Lake Michigan is an extraordinary natural resource,” he notes. “This is a timeless place that people love to visit, and, since there is a limited amount of lakefront property, its value stays fairly strong.”
Chesapeake Bay, Maryland
Known for its top-notch seafood, serene natural beauty and wildlife, and some of the finest boating in the country, the Eastern Shore [of the Chesapeake Bay] is home to the three most expensive homes sold in the state of Maryland in 2015, notes Cliff Meredith, associate broker with Long & Foster Real Estate, Inc. Pricing levels are about where they were in 2006, prior to the market collapse, he adds.
“The luxury market on the Eastern Shore is stable. Inventory is higher than demand at the moment, which should be attractive to a purchaser,” says Meredith. “I don’t see any reason for this scenario to change substantially until after the election.”
Great restaurants, shopping, medical services and proximity to the urban areas of Washington, Baltimore, New York and Philadelphia attract many of the buyers, most of whom hail from Washington, Virginia, Maryland and Pennsylvania.
Across the bay, Harford and Baltimore counties offer affordable luxury waterfront living that benefits from ease of access to major routes for a convenient commute to Baltimore, as well as connections to Washington and Philadelphia. For example, the Bush River runs into the Susquehanna, and the Susquehanna River feeds into the Chesapeake Bay, offering enviable water views and natural landscapes.
“Pricing of luxury waterfront homes has reduced over the past year due to the supply and demand of the current market in the Harford County area,” explains Peggy Smith, a Realtor with Berkshire Hathaway HomeServices PenFed Realty. “Current pricing for luxury waterfront homes is from the high $400,000s to just under $800,000.” With inventory exceeding demand, buyers take the opportunity to be highly selective in their purchases.
“Currently, buyers seeking to up-size and those seeking their second home, including space for their family or multiple families, are being influenced by our upcoming presidential election and are cautiously looking to see what the future holds,” says Smith. The region also draws commuters from Baltimore and military buyers due to the Aberdeen Proving Grounds.
The Bahamas
Seven-hundred islands and cays make the Bahamas a waterfront mecca, and a slow-paced economic recovery favors buyers, according to Andrea Brownrigg, director and broker with Bahamas Realty.
A wide variety of non-stop flights and a currency on par with the U.S. dollar are attracting a younger buyer demographic, she says. These buyers are seeking newer or updated developments with well-defined lifestyle components for their growing families.
For example, Paradise Island’s Ocean Club Estates boasts a golf course, private beach club, tennis club and kid’s park, and its homeowners enjoy access to Atlantis and the One&Only Ocean Club. Beachfront homes within the community are priced on average from $8 million to $15 million.
Other areas of the Bahamas are less well known and can offer buyers a lot of bang for their buck. The Berry Islands boast their own international airstrip with customs and immigration, and is known as a fishing paradise, says Brownrigg.
“You can leave Florida at 8 a.m. and be out pulling in your lines within about two hours,” she says. One 15-acre property within the Berry Islands features 700 feet of beachfront and a price tag of $750,000.
Value, of course, depends upon location. “Beachfront property in Lyford Cay is valued at $65,000 per foot of beach; whereas Paradise Island is probably about $45,000,” says Brownrigg.
Leave a comment
hello

Mass Appeal

In Massachusetts, Realtors report strong buyer interest in prime waterfront markets.

By Samantha Myers

A classic Edgartown home with one of the only sandy beaches on the harbor recently sold for $12 million. (Wallace & Co. Sotheby's International Realty)

A classic Edgartown home with one of the only sandy beaches on the harbor recently sold for $12 million. (Wallace & Co. Sotheby’s International Realty)


Martha’s Vineyard
Throughout Martha’s Vineyard, agents are reporting strong sales. “2015 was a record-breaking year as far as total dollar volumes in sales,” says Alyssa Dubin, of Wallace & Co. “It was one of the highest we’ve seen, and 2016 is shaping up to be similar. First quarter sales were similar to 2015, but we’ve seen a steady surge of activity.”
“We have an unusual market here on the Vineyard in that you have our low end around a couple hundred thousand and the high end is around $20 million-plus,” says Deb Hancock of Hancock Real Estate. According to the agents, it’s a buyers market, but the higher end of the market is in favor of the seller. “Buyer’s are savvy. They can wait and find a property that’s priced right,” says Dubin.
Hancock explains how Martha’s Vineyard’s market remains resilient. “We have great diversity. We’re 108 square miles, and the 6 separate island towns are all very unique in their own right. Most buyers have an idea of what area they want to buy in, before they start.”
Although there has been a recent influx of international buyers, U.S. families are predominant, especially ones that have a relationship to the island. “It’s a generational meeting place for a lot of families. We see buyers wanting large homes and compounds to accommodate multiple generations,” says Dubin.
Recently, construction on the island has been surging, and vacant lots are being sold to accommodate building projects. Dubin saw 7.8 acres of land sell for $3.8 million, and Hancock sold a 20-acre parcel in Chilmark with panoramic views of the water for $5.5 million.
“Rentals are very busy, and that’s usually a good sign of sales,” says Dubin. “Those renters turn into
buyers because they fall in love.”
This waterfront Edgartown Harbor mansion sold in 2015 for $22 million. (Hancock Real Estate)

This waterfront Edgartown Harbor mansion sold in 2015 for $22 million. (Hancock Real Estate)


Cape Cod
In Cape Cod, it’s no surprise that waterfront properties dominate the higher spectrum of the luxury price range. “A house on the water, with a beautiful beach or a deep-water dock could be priced at $10 million, and the exact same house across the street could easily be half that price,” says Paul Grover of Robert Paul Properties.
“There’s not a lot of inventory for properties on the lower end of the price point. As for the high-end luxury market, this is our prime time for that,” Grover explains. He says the market quiets down mid-summer, but gets busy again after Labor Day. “Summer houses go on the market after people spend their last summer there, so our inventory is up in September.”
On more than 28 acres, this West Tisbury estate sold for $3.12 million. (Wallace & Co. Sotheby's International Realty)

On more than 28 acres, this West Tisbury estate sold for $3.12 million. (Wallace & Co. Sotheby’s International Realty)


Nantucket
As for Nantucket, Gary Winn from Maury People Sotheby’s International Realty explains the market’s growth from previous years. “We are way ahead from last year, and I expect that trend to keep going and, if so, it might be one of our best years yet.” He adds, “Last year’s average price was $2.113 million and the average sale right now is lower at $1.896 million, but that’s because it’s early in the season.”
According to Winn, antique houses in town built in the 1700s and 1800s are protected from the ongoing construction that the island is seeing, whereas newer and more modern homes are replacing the properties built outside town from the 1950s to 1970s. “People buy here because it’s an island, and when you’ve gone to Nantucket, you feel like you’ve actually gone somewhere.”
Listed at $2.395 million, this Main Street home on Nantucket Sound in Cotuit recently sold. (Robert Paul Properties)

Listed at $2.395 million, this Main Street home on Nantucket Sound in Cotuit recently sold. (Robert Paul Properties)

Leave a comment
hello

Going Global: The Most Expensive Penthouse in Isreal

In Tel Aviv’s exclusive and historic Jaffa, The Penthouse at W Tel Aviv Hotel is listed for 160 million NIS (about $41 million USD).

By Kirsten Niper

©ALEX MORRIS

©ALEX MORRIS


Designed by British architect John Pawson, this penthouse enjoys stunning views of Jaffa’s ancient port and the Mediterranean Sea.
To be completed this fall, the spacious penthouse spans 16,178 square feet of living space on the entire top floor, plus a 786-square-foot terrace with views of the sea. “The Penthouse displays upscale design, combined with high livability. We have been in partnership with esteemed designer John Pawson since his design of the New York City Gramercy Park Hotel. He has now placed his signature minimalistic style into the design of the penthouse for this exciting collaboration,” shares Aby Rosen, co-founder and principal of RFR Holding.
The buyer of the penthouse will work in conjunction with Pawson’s office to “create a bespoke place based on his design concepts.” The penthouse has a private entrance to the W Hotel, with easy access to a gourmet restaurant, lounge bar and an exclusive beach club.
The W Tel Aviv Hotel is within the walls of a 19th-century building that has fused the architectural integrity of nearby structures with the W Hotel’s trademark amenities.
Leave a comment
hello

Fabulous Finds: Pacific Heights Welcomes The Pacific

San Francisco’s Pacific Heights neighborhood unveils its first significant new-construction in several decades, The Pacific, a collection of 76 boutique residences plus the Row Home Collection, made up of 10 adjacent three- and four-story homes.

By Kirsten Niper

PHOTO COURTESY STEELBLUE

PHOTO COURTESY STEELBLUE


Developer Trumark Urban and Handel Architects collaborated to repurpose the 250,000-square-foot building on 2121 Webster Street into The Pacific, a nine-story jewel-box building that evokes a sense of timelessness. With sales launching this summer, there are one-, two- and three-bedroom flats available, plus three-level townhomes. The residences enjoy views of San Francisco, spanning from the Golden Gate Bridge to Twin Peaks. Amenities include private vehicle valet, full-service concierge, a lobby attendant, a private rooftop observatory lounge overlooking the bay and Golden Gate Bridge, a private guest suite, world-class fitness center, and installations from local artists and international creators such as Helen Amy Murray.
“The ideal buyer for The Pacific will have an affinity for our modern approach to sophisticated design, which focuses on impeccable finishes, rich details and gracious and welcoming spaces,” explains Arden Hearing, managing director at Trumark Urban. “They will also appreciate being in the heart of the action, just steps from top-tier shopping, Michelin-starred restaurants, gorgeous parks, playgrounds, some of the best private schools in the city, and also within close range of hiking, running and biking trails.”
Leave a comment
hello

On Location: Mountainside at Northstar

Truckee, California

By Kirsten Niper

PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR

PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR


Mountainside at Northstar’s vision is about connecting to family, nature, others and self. Perched on the side of Northstar, the community offers access to 3,000 acres of skiable, hikeable and bikeable topography. With just 300 residences, connecting to the surrounding environment and community is even easier.
During my visit to Mountainside at Northstar, I explored the residential options in the community. Residence offerings include the 3-bedroom, 2.5-bath, approximately 2,250-square-foot Stellar Townhomes starting at $1.995 million; the Stellar Residences, single-family homes designed by Bohlin Cywinski Jackson and starting at $3.6 million; and the M25 neighborhood, an enclave of 25 home sites ranging from a half acre to 1.5 acres, and starting at $690,000. All homes are ski-in/ski-out.
During my tour of the residences and home sites, I was awed by the mountainous views and ease of access throughout the community. I was also taken aback by the sense of community that is being developed — it is truly one of the top amenities of Northstar. Residents can enjoy the privacy afforded by living in nature, yet they can take advantage of community gathering spaces to get to know their neighbors.
PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR

PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR


Residents can lounge and play in the Tree House, a community gathering space with a gym, pool, dining area, lounge and a game room. The outfitters, based in the Tree House, create personalized experiences for residents, including rafting trips, special hiking trips, or a birthday surprise, including a helicopter ride for an owner. There isn’t a task too big or too small; while in the Tree House, I overheard an outfitter reaching out to retailers in the area to track down a kayak for a resident.
“I think the outfitters really separate us from other resort communities,” shares Annisa Crawford of Mountainside Partners, the developer. “They respect the owner’s privacy, but they connect others to the surrounding community and outdoor activities.”
In my visit, I was paired with an outfitter who guided me through the charming town of Truckee, a journey out to see Lake Tahoe, and even a rainy day walk.
Other (still under construction) amenities include a serene yoga studio, cabins for overnight gatherings, an owner’s lounge and a playground.
PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR

PHOTO COURTESY MOUNTAINSIDE AT NORTHSTAR

Leave a comment
hello

Cover Showcase

455 Sunnyside Lane

By Kirsten Niper

PHOTO COURTESY BOB BOWDEN

PHOTO COURTESY BOB BOWDEN


 
Nestled amongst the trees on a picturesque hillside, in the exclusive McLain Flats neighborhood on 4.9 acres of private land, the estate “Sunnyside Ridge” is surrounded by breathtaking panoramic mountain scenery. Designed by leading architect, John Galambos, the house and its unique features enhance the natural beauty of the landscape, while the estate offers modern mountain comfort, incorporating leading- edge technology and unparalleled amenities. Fully furnished and move-in ready, this luxury property is not only the cover of this year’s Ultimate issue, at $36 million it is one of the 10 top offerings in Colorado.
The floor plan is king; the developer spent months refining the layout. The result: Sunnyside Ridge feels intimate, despite its 14,000 square feet of living space. With grand entertaining rooms, including a theater, indoor pool and spa, a full outdoor kitchen, plus another pool and spa, entertaining is made easy and your family and friends will never be bored.
Bob Bowden, whose company, Bowden Properties, has the listing for the “mountain modern” home, highlights the indoor pool/ spa/gym/massage room as his favorite area of the home.
The residence is distinctive in Aspen, according to Bowden, because of its combination of year-round water access, amazing views and “the best floor plan and truly modern finish package. It is irreplaceable in the Aspen market,” he shares.
Leave a comment
hello

On Location: Montage Residences Kapalua Bay, Maui, Hawaii

On Location: Montage Residences Kapalua Bay, Maui, Hawaii

By Camilla McLaughlin

Photo courtesy of Montage Residences Kapalua Bay

PHOTO COURTESY MONTAGE RESIDENCES KAPALUA BAY


No matter where you live, a trip to Maui is never short, but it only takes seconds after arriving at the Montage Residences Kapalua Bay to know the effort is more than worthwhile. Guests are greeted with a lei and refreshing pineapple, the staff pretty much takes over, and a sense of relaxation begins to take hold almost immediately. Lisa Hatem, the broker handling the residences, says the resort is really all about the experience and often visitors will confide that “they haven’t seen their partner so relaxed.”
Talk to those who know the land here and they will tell you the feeling is rooted to the spirit of the place. Kapalua Bay was a retreat for Hawaiian royalty and the setting is remarkable, even for Hawaii. Nestled in one of Hawaii’s largest nature preserves, the 22-acre property occupies a peninsula where waves break along black jagged lava rocks on one side and one of the best beaches in the country curves around the protected waters of Kapalua Bay — ideal for paddle boarding and snorkeling — on the other.
Photo courtesy of Montage Residences Kapalua Bay

PHOTO COURTESY MONTAGE RESIDENCES KAPALUA BAY


The resort is comprised of 50 luxury suites and 84 oceanfront private residences. The three- and four-bedroom residences combine the Hawaiian aesthetic with a contemporary feeling. They are gracious, comfortable, and beautifully designed. Deep lanais extend the living outdoors, opening to a tropical panorama of sea, sky, and green with the island of Molokai in the distance. The ocean is close enough for the surf to lull you to sleep at night.
A three-tier, lagoon-style pool surrounded by gardens and overlooking the ocean sits in the center of the resort. Cane & Canoe is the signature restaurant, and, along with the Sunset Patio, it’s a great place to enjoy the sunset. There is so much to do at this resort — from learning about Hawaiian heritage to yoga on the lawn — but it is the Montage’s exceptional, genuine, and intuitively flawless service that takes it to the next level. For example, a call to room service and a question about wine immediately connects you to the sommelier.
Photo Courtesy of Montage Residences Kapalua Bay

PHOTO COURTESY MONTAGE RESIDENCES KAPALUA BAY


Silla Kaina, Montage’s cultural advisor, is on hand to explain the Aloha spirit and talk about the history of the location. She says, “You come to Montage as a guest but you leave as family.” And it’s true.
A limited number of residences are still available, and prices begin just under $4 million.
Leave a comment
hello

Going Global: Private Mediterranean Island Boasts Rare Development

Private Mediterranean Island Boasts Rare Development

By Christine Aebischer

Isla de Espalmador, an approximately 338-acre private island set between Ibiza and Formentera in the Las Salines Natural Park, is listed for €24 million. Among its top features are the island’s existing developments, which are a rarity in the Mediterranean, where planning permission is hard to obtain.
Photo courtesy of Vladi Private Islands

PHOTO COURTESY VLADI PRIVATE ISLANDS


The island features two traditional Balearic villas, a chapel, watchtower, and several additional outbuildings, all of which offer breathtaking views of the turquoise Mediterranean waters, stretching all the way to Ibiza. “It’s rare to find islands as beautiful as this one on the market,” says Farhad Vladi, president and founder of Vladi Private Islands, the exclusive listing broker of Isla de Espalmador. “Factor in the prime location — just minutes away from the coast of Ibiza — and its existing developments, and you’ve got a very special property indeed.”
The island features white-sand beaches, Mediterranean landscapes, picturesque coves, and crystal-clear waters. Now for sale for only the second time in history, Isla de Espalmador has belonged to four generations of the same family since the late 1920s and has hosted generations of Europe’s royalty, aristocracy, and celebrities.
Leave a comment
hello

Fabulous Finds: Dallas' Museum Tower Over 50 Percent Sold

Dallas’ Museum Tower Over 50 Percent Sold

By Christine Aebischer

The contemporary 42-story luxury residential high-rise in the heart of Dallas’ Arts District, known as Museum Tower, is now over 50 percent sold. The unique building was designed by renowned architect Scott Johnson of Johnson Fain and offers over 100 residences in nine floor plans.
Residences range from an intimate 1,800-square-foot pied-à-terre to the sprawling, over 9,000-square-foot penthouse, listed for $24 million. The crown jewel of Museum Tower features 12-foot-high ceilings, an additional 5,600 square feet of rooftop terrace, and has a $3 million build-out allowance.

PHOTO COURTESY MUSEUM TOWER


Additional residences include one-, two-, and three-bedroom condominiums featuring floor-to-ceiling glass, direct-access elevators, and outdoor terraces to enjoy the unobstructed Dallas views. Amenities include a director of resident relations, 24/7 concierge service, private gathering and event spaces, an outdoor pool, beautiful outdoor space, and a state-of-the-art fitness center.
“Museum Tower represents a superior location, a masterfully designed piece of architecture, and offers an unmatched residents’ services and amenities program that differentiates it from other high-rises in Dallas,” says Robbie Briggs, president and CEO of Briggs Freeman Sotheby’s International Realty, the exclusive listing broker for Museum Tower.
As one of the fastest growing U.S. cities and a center for international business operations, Dallas has catapulted to the top ranks of international corporate headquarters. Museum Tower’s proximity to downtown and uptown Dallas, as well as West End and Victory Park, make for an enviable location within the growing metropolis.
Leave a comment
hello

Unique Properties

$725 Million Waggoner Ranch Sells

By Kirsten Niper

The renowned W.T. Waggoner Ranch sold in February to Stan Kroenke, owner of the Los Angeles Rams and Denver Nuggets. This is the first ever sale of the ranch, which was established in 1849 and spans approximately 535,000 acres, six Texas counties, and almost 800 square miles, making it the largest ranch in the United States within a single fence. It also includes 30,000 acres of farmland, in addition to thousands of cattle, hundreds of horses, and oil wells.

PHOTO COURTESY HALL AND HALL


Dallas real estate broker Bernard Uechtritz, one of the seller’s representatives, arrived at the list price of $725 million by beginning with the per-acre value of other ranch sales in the area. Then, he counted the five operations on the ranch — cattle, horses, oil, farming, and water — as separate businesses.

PHOTO COURTESY HALL AND HALL


Urechritz and real estate broker Sam Middleton, principal of Chas. S. Middleton, advertised across the globe, and soon pre-qualified buyers from the Middle East, China, Russia, United Kingdom, Germany, and Australia came to visit. One of the interested parties was Kroenke. “When it became listed, Stan and I talked about it, and he decided he wanted to look closely at it,” says Joel Leadbetter, Kroenke’s broker at Hall and Hall.
Photo courtesy of Hall & Hall

PHOTO COURTESY HALL AND HALL


After touring the ranch by land and air, Leadbetter says, “Stan was intrigued with the land, its enterprises, its history and legacy in Texas.” The shareholders and trustees of the ranch moved forward with Kroenke in part due to his conservationist mindset and respectful treatment of his other ranches.

PHOTO COURTESY HALL AND HALL

California Dreaming: A $500 million (Under Construction) Mansion

Expected to be finished in 2017, this mansion in the hills of Bel Air will enjoy 360-degree views encompassing the San Gabriel Mountains and the Pacific Ocean. The mansion, when completed, will span 100,000 square feet and will be twice the size of the White House. According to GQ magazine, the home will have “five swimming pools, a casino, a nightclub with a VIP area, a lounge with jellyfish tanks in lieu of walls and ceilings,” plus an entire temperature-controlled room to store fresh flowers.
Nile Niami is developing the home, and broker Drew Fenton of Hilton & Hyland holds the listing.
Often referred to as “The One,” the mansion will be surrounded on three sides by a moat and other water features; a separate area with monitors, plus a guard gate for security; a 5,000-square-foot guesthouse with an infinity pool; and a “sky deck,” which will have a putting green, bar, a lounge area, and covered loggias, according to GQ.
Leave a comment
hello
Style Selector
Select the layout
Choose the theme
Preset colors
No Preset
Select the pattern