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The latest news on Real Estate from Business Insider

older | 1 | .... | 19 | 20 | (Page 21) | 22 | 23 | .... | 132 | newer

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    1211 Park Avenue

    Investor Sagi Genger expected to have a big family, so not only did he buy a Park Avenue townhouse, but he and his wife also added a floor — making it 5 stories high (h/t WSJ).

    The 5200 square foot house has 6 bedrooms, 6 bathrooms, a library, exercise room and three separate outdoor areas.

    The top floor is the master suite complete with private outdoor space, dressing room and entertainment center.

    Beth Benalloul of Corcoran has the listing.







    See the rest of the story at Business Insider

    Please follow Clusterstock on Twitter and Facebook.


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    jason bateman house

    Actor Jason Bateman and his wife, Amanda Anka, have paid $3 million for the former estate of the late actor Ernest Borgnine, according to Trulia.

    The five-bedroom home is on a secluded cul-de-sac above Beverly Hills' Mulholland Drive. It belonged to Borgnine for 60 years, and  from a look at the listing photos  is in desperate need of an upgrade.

    But the 6,100-square-foot home has potential, with a sweeping grand staircase, large master suite, and awesome views.

    The home is located on a secluded cul-de-sac in Beverly Hills.



    The entrance, with a spiral staircase, is grand.



    There are several impressive public rooms in the home.



    See the rest of the story at Business Insider

    Please follow The Life on Twitter and Facebook.


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    Josh Flagg

    Real estate is a tough business. It requires you to be completely client-focused, to think on your feet, and to maintain a large portfolio of properties you may need to show at a moment's notice. It also requires persistence, business-savvy, and lots of, well, chutzpah.

    These 21 young real estate agents are the newest hotshots in real estate.

    They're selling multi-million dollar homes, giving back to their communities, and reshaping the nature of the business with their innovative approaches to social media and technology. From Miami to New York to Los Angeles to Houston, these agents have the housing market covered.

    Oren Alexander

    Age: 25

    Agency: Prudential Douglas Elliman

    Location: Miami, Fla.

    Oren Alexander broke records last October when he sold a $47 million estate in Indian Creek— the most expensive sale in Miami at the time.

    Originally from Miami Beach, Alexander focuses on the luxury market and has listings in both New York and Miami. He lives in New York City now, but he and his partner (and brother) manage their shared listings in Miami.

    He says working off commission fuels him, and that the high-risk, high-reward aspect of the job is thrilling. He's often on the road, jet-setting from New York to Miami to Argentina.



    Austin Allison

    Age: 27

    Agency: dotloop

    Location: Cincinnati, Ohio

    Allison studied real estate development, and then corporate law, at the University of Cincinnati.

    He co-founded dotloop in 2009 with the goal of making the home sales process electronic across the U.S. He describes what he does as “surrounding the company with great people and keeping us aligned around our vision and goals.” The 27-year-old President and CEO of dotloop was named to Forbes' 30 Under 30 in Real Estate at the end of 2011.



    Josh Altman

    Age: 33

    Agency: Hilton & Ryland Real Estate

    Location: Beverly Hills, Calif.

    Josh Altman deals with high-end properties and a celebrity clientele (Kim Kardashian and Paris Hilton were clients of his).

    He sold an astounding $200 million in 2012 alone and oversaw some record sales, including the most expensive 1-bedroom house ever sold in California for $20 million and the most expensive condo ever sold in Santa Monica for $10.5 million.

    He's also a reality TV star on Bravo's TV show "Million Dollar Listing."



    See the rest of the story at Business Insider

    Please follow The Life on Twitter and Facebook.


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    Tatum O'Neal

    Actress Tatum O’Neal has sold her condominium unit inside the converted Jewish Daily Forward building at 173 East Broadway for $1.72 million, according to public records filed with the city today. Tim Cass of the Corcoran Group had the listing for the 1,435-square-foot home.

    The two-bedroom, two-bathroom home has spent some time as a rental, first in 2011 with a $6,000 per month asking rent, Streeteasy.com shows. Last June, the home was listed again as a rental—this time for $7,000 per month—but was no longer available as of Sept. 13, Streeteasy shows. The following day the home went on sale with a $1.65 million ask.

    Reached by phone, Cass confirmed that he had the listing for the mezzanine-level home, adding that it prompted a bidding war, though he declined to comment on how many offers he received for the unit.

    “It got a lot of attention,” he said. “It’s a very unique property.”

    The unit has a domed ceiling, which was originally part of the lobby of the Forward building. It is the only unit inside the 45,000-square-foot, 29-unit building that has direct elevator access from the street.

    Built in 1912, the property was converted to condos in 2006 by a developer named Ron Castellano, who preserved original details, as the property is landmarked, Cass said. For example, stained-glass windows inside O’Neal’s unit were updated with a double pane so that they can open. The bathrooms also have coffered ceilings, he said.

    “They maintained the original integrity of the building,” he said.

    O’Neal, who listed a Beverly Hills residence, purchased the home in 2006 for $1.43 million, records show. O’Neal, who in 1974 became the youngest person to win an Academy Award, has appeared in such films as “Little Darlings” and “Basquiat,” the biopic of artist Jean-Michel Basquiat.

    More recently, she has become tabloid fodder, reportedly being arrested near the Forward building for buying crack cocaine. She was released without bail and pleaded guilty to disorderly conduct, previous reports say.

    The deed for the condo shows the sale entered contract on Nov. 13 and transferred on Jan. 17. Daniel and Abby Ziluca are listed as the purchasers. Cass said he also represented the buyers, but declined to comment further on them.

    O’Neal could not immediately be reached, nor could the Zilucas.

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    Dogs photobombin real estate pics, Estately

    Real estate photos can capture the essence of a home to give you an idea of what it could be like to live there, but these photos can also sometimes capture the spontaneity of life.

    Like if your dog walks in on the shot, for example.

    Our friends at Estately.com came across a number of photos in their listings where the family pet wanted in on the action. These dogs are definitely not camera shy.

    This dog does NOT want you in HIS pool at a Yorba Linda, Calif. home.

    See the listing for this property at Estately.com.



    The movie "Beethoven" could have been filmed at this house in Hoquiam, Wash.

    See the listing for this property at Estately.com.



    This home in Preston, Wash. comes with its very own second-floor-guarding dog.

    See the listing for this property at Estately.com.



    See the rest of the story at Business Insider

    Please follow The Life on Twitter and Facebook.


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    Each week we take a look at how much house you can expect to get at a specific price point. This week, we’re looking at homes priced around $650,000.

    Oceanside, CA

    1866 Downs St, Oceanside CA
    For sale: $650,000

    Oceanside CA

    A chef’s kitchen, open floor plan and huge windows create a livable residence in Oceanside, just outside San Diego. Built in 2000, the home has 3 bedrooms and 3 baths.

    St. Petersburg, FL

    155 19th Ave NE, St. Petersburg FL
    For sale: $650,000

    st petersburg fl

    Another coastal home for sale, this time on the other side of the country. This St. Petersburg home was built in 1934 and underwent a full renovation recently to include updates to the appliances. It has 3 bedrooms and 3 baths.

    Tulsa, OK

    2203 E 23rd St, Tulsa OK
    For sale: $649,000

    tulsa ok

    Lush landscaping surrounds this Tulsa home for sale. Built in 1931, the home uses a mix of stones in its exterior. Inside, the home has a 3,758-square-foot floor plan, 4 bedrooms and 4 baths.

    Tacoma, WA

    609 N I Street, Tacoma WA
    For sale: $650,000

    Tacoma WA

    Located in North Tacoma, just about a half-hour south of Seattle, is this century-old gem. Measuring 4,321 square feet, the home has 4 bedrooms and 4 baths.

    Annandale, NJ

    6 Catawba Ln, Annandale NJ
    For sale: $649,900

    annandale nj

    About an hour outside New York City is this brick traditional in Annandale. The 4-bedroom, 3.5-bath home was built in 1996 and features an eat-in kitchen, full basement and large backyard.

    SEE ALSO: 10 states where the most people live on the edge of financial ruin >

    Please follow Your Money on Twitter and Facebook.

    Join the conversation about this story »


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    “If I stay here, I’ll forever be single. I just can’t seem to find the right person in this town.”

    If this sounds like you, listen up. Today, Zillow unveiled the “In the Move for Love Index,” which names the best cities for young singles to relocate for love. If you’re a guy or girl, straight or gay, we’ve got you covered.

    Zillow ranked the 150 largest U.S. cities based on the Zillow Rent Index versus the median income, walkability and the ratio and abundance of single males to single females aged 35 and under. The resulting cities are geographically diverse, with median rents ranging from $800 to $2,500 per month.

    And the drum roll please …

    Top 10 cities for men seeking women age 35 and under

    #10: Springfield, MA

    #9: Buffalo, NY

    #8: Philadelphia, PA

    #7: San Diego, CA

    #6: Tulsa, OK

    #5: Memphis, TN

    #4: Cleveland, OH

    #3: Irving, TX

    #2: Glendale, CA

    #1 Worcester, MA (check out a $1,200/month rental in Worcester)

    Top 10 cities for women seeking men age 35 and under

    #10: Durham, NC

    #9: Santa Ana, CA

    #8: Baltimore, MD

    #7: Plano, TX

    #6: Tuscon, AZ

    #5: Charleston, SC

    #4: Denver, CO

    #3: Miami, FL (see a modern Brickell neighborhood rental)

    #2: Oxnard, CA

    #1: Milwaukee, WI

    Top 10 cities for men seeking men age 35 and under

    #10: Baltimore, MD

    #9: Arlington, TX

    #8: Cleveland, OH

    #7: Colorado Springs, CO(check out a spacious 4-bedroom for rent in Colorado Springs)

    #6: Des Moines, IA

    #5: Santa Maria, CA

    #4: Worcester, MA

    #3: Philadelphia, PA

    #2: San Diego, CA

    #1 Miami, FL

    Top 10 cities for women seeking women age 35 and under

    #10: Dallas, TX

    #9: Aurora, CO

    #8: Kansas City, KS

    #7: Springfield, MA

    #6: Colorado Springs, CO

    #5: Des Moines, IA

    #4: Denver, CO

    #3: Cleveland, OH

    #2: San Diego, CA(an ultra-modern 1-bedroom in the Gaslamp District)

    #1: Worcester, MA

    In the Move for Love Index Graphic 10b1d3

    SEE ALSO: The 15 Hottest American Cities Of The Future

    Please follow The Life on Twitter and Facebook.

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    Necker Island Turtle Beach

    Richard Branson, the head of Virgin Group, is one of the most famous and successful entrepreneurs in the world.  

    His portfolio of assets now include everything from media companies and airlines to telecommunications companies and real estate.

    But one of Branson's smartest early purchases was Necker Island, a 74-acre island in the Caribbean that he visited in the late 1970s and quickly fell in love with.

    Entrepreneur Luke Murray recently recounted how the deal went down on Virgin's blog.

    When Branson visited Necker at age 28, it was owned by Lord Cobham, who was asking $5 million for the uninhabited property. Branson boldly decided to offer $100,000 and was quickly evicted by the insulted landowner.

    Over the next few months, Branson slowly increased his offer while looking for the necessary funds, according to Murray. It just so happened that Lord Cobham was in need of short term cash, and he finally accepted an offer of $180,000, more than a 96 percent discount off the asking price.

    The purchase did come with some stipulations. The government required any foreigner who purchased the island to build a resort, or the state would reclaim ownership.

    It took Branson five years and $10 million to construct his island haven, but it was a worthwhile investment  despite the fact that part of the resort was destroyed in a fire last year.

    In addition to the enjoyment that guests have had over the years, Branson estimated in 2006 that the island's value had grown to approximately $60 million, a 33233 percent increase over what he paid for it.

    Unsurprisingly, he called it his "best financial move" in an interview with UK website This is Money.

    SEE ALSO: We Stayed In Some Wild Accommodations On Necker Island

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    French Chateau

    Chateaus are not only found in France. 

    Thanks to our friends at Estately.com, we bring to you some stunning French-inspired chateaus that are currently on the market in America.

    They include wine cellars, manicured gardens, and even an indoor basketball court.

    Florida's Versailles is largest home in the country.

    Situated on more than 10 acres in Windermere, Fl., Versailles is a 90,000-square-foot mansion and largest home currently under construction in the U.S.

    Price: $65,000,000



    Le Palais is a 48,000-square-foot chateau in Beverly Hills.

    Le Palais, in Beverly Hills, Calif., has seven bedrooms and 11 bathrooms.

    Other amenities include a walk-in glass refrigerator, a 5,000-bottle wine cellar, an indoor/outdoor pool, and a garage with room for up to 12 cars.

    Price: $58,000,000



    Palm Beach is home to this $74,000,000 estate.

    This exclusive waterfront estate in Palm Beach, Florida is located on Billionaire's Row and has its own dock.

    Price: $74,000,000



    See the rest of the story at Business Insider

    Please follow The Life on Twitter and Facebook.


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    trump international tower

    Andrew Rosen, the founder of the Theory fashion label, sold his 4,266-square-foot duplex condominium at the Trump International Tower for $15.6 million, according to records filed with the city yesterday.

    Kyle Blackmon, a Brown Harris Stevens senior vice president and managing director, had the listing for the home, located at 1 Central Park West. Blackmon declined to comment, but as The Real Deal reported last year, the duplex had an $18 million ask when it first hit the market in January 2012.

    That July, the listing went offline and reemerged in mid-September for $16.4 million, Streeteasy.com shows.

    Rosen’s home, which he purchased in March 2006 for $6.9 million, was profiled in Elle Décor in October 2011. In the article, Rosen said that he hated the unit’s staircase, which he told Elle was a traditional structure.

    “When I realized that I could do something more interesting, I decided to buy the apartment,” he told Elle Décor. And over the course of nine months, he and his architect planned and finished a glass and steel-spiral staircase, which the magazine said serves as “a kind of sculptural centerpiece in the space.”

    The apartment reportedly has gallery space on both floors, but no views of Central Park. According to the listing, the home has four bedrooms and 4.5 bathrooms, as well as a library, polished concrete flooring and a home cinema.

    The purchaser of the home is listed as Huddygirl LLC — an entity linked to a Rachel Cole in state records and in mortgage documents, who could not immediately be further identified.

    The sale entered contract on Nov. 29 and transferred on Jan. 16.

    A message to Theory press representatives seeking comment from Rosen was not immediately returned by press time.

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    sandcastle

    The Hamptons have always been a hot summer rental market.

    But this year, the biggest checks are being written earlier than ever, Jason Sheftell at the New York Daily News reports.

    One developer, who rented a home to Jay-Z and Beyonce last August for $400,000, has already turned down a $400,000 offer for a similar home this year. And homes that regularly lease for $85,000 a month or more are moving quickly.

    It's not just the lure of the beaches, A-Listers, and parties that are driving the mad dash, according to Sheftell.

    One reason for the rush of early offers is that there are fewer homes for sale out east. This means that people who want to summer in the Hamptons have to rent, which pushes rental prices sky-high.

    Wealthy renters also want to minimize the hassle and stress of finding the perfect summer home, and the earlier they start their search, the more options that are available to them.

    The bottom line: if you want to rent a house in the Hamptons this summer, start looking now and expect to shell out.

    SEE ALSO: Tour The Wild Hamptons Mansion That Jay-Z And Beyoncé Are Supposedly Renting For $400,000 A Month

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    5th ave

    On an historic, stately stretch of Fifth Avenue, a proposal by a Brazilian developer for a luxury high-rise is threatening to disrupt the peace.

    Residents of two Central Park-facing buildings, at 812 and 817 Fifth Avenue, are gearing up to fight a structure planned for 815 Fifth Avenue that they described in a letter to fellow residents as “contemporary” and “incompatible” with the character of the neighborhood, The Real Deal has learned.

    Paperwork filed with the Department of Buildings calls for a 15-story building with a dozen apartments as well as partial demolition of a six-story building, which records show is the oldest structure on Fifth Avenue between 59th and 110th streets.

    JHSF Participacoes S.A., based in Brazil, is named on renderings of the project, although the official documents list the developer as Eight Hundred and Fifteen Fifth Avenue, a limited liability company. JHSF has developed more than 19 million square feet of real estate in Sao Paulo.

    Brazilian banking magnate Sergio Millerman, the former CEO of Safra National Bank of New York and a consultant to the Safra Group, the Brazil-based international banking empire, is named in official documents as an adviser to the project.

    A spokesperson for Millerman told The Real Deal that the owners of the project are “highly sensitive to the history of the area” and will proceed in a manner that is “consistent with that sensitivity.” While the spokesperson confirmed that Millerman is assisting the developer on the project, he declined to comment on the identity of the developer.

    The board of managers for 817 Fifth Avenue sent the Feb. 13 letter opposing the project to both residents of both their building and 812 Fifth Avenue. The letter called for the residents to speak out against the development at a community board hearing last night.

    The developer presented the proposal Feb. 11 to Community Board 8′s Landmarks Committee, an advisory panel. The Landmarks Committee unanimously rejected the building, calling it “incompatible with the character of the block,” the letter said. The project can still move ahead, however, if the Landmarks Preservation Commission signs off on it.

    The new building would be 200 feet tall, nearly triple the height of the existing 80-foot-tall structure, according to papers filed with the Department of Buildings. The architect, Timothy Greer of Connecticut-based TP Greer Architects, said he has been working closely with the landmarks commission over the last few months to create a building with will be “sensitive to and consistent with the established architectural character and scale of Fifth Avenue.”

    While a spokesperson for the Landmarks Preservation Commission could not comment directly on the project, which is in an historic district, she said any new building within such a district should be “consistent with the height and shape of the other buildings in the district” in order to obtain necessary approvals from the LPC.

    “Whether it is a contemporary design or a contextual, more traditional design, the façade composition, scale, materials and details should have some relationship to the buildings in this historic district which can be abstract or literal,” she said.

    Residents on the upper floors of 812 and 817 Fifth Avenue are concerned the proposed development will block their views, bringing down their property values. At 817 Fifth Avenue, the views are to the south; residents of 812 Fifth Avenue look to the north.

    Jewelry designer Janet Yaseen, a resident of 812 Fifth Avenue, said residents of her building stood “shoulder to shoulder” with residents of 817 Fifth Avenue in the dispute.

    The building on the site, designed by Samuel A. Warner, went up in 1871. Once a single-family home owned by hotel owner James Stewart Cushman and wife Verna, the brownstone today houses 12 apartments and two offices.

    Real estate investor Robert Haskell sold the building to JHSF last year for $32 million, public records show, $7 million over its asking price.

    Both 812 and 817 Fifth Avenue have been home to celebrities and the city’s biggest power players. Actor Richard Gere, business magnate Steve Wynn and socialite Courtney Sale Ross have lived at 817 Fifth Avenue; New York Gov. Nelson Rockefeller and his wife, Mary “Tod” Rockefeller, had a home in 812 Fifth Avenue.

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    fifth ave stanhope apartment

    Joe Plumeri, the former CEO of insurance brokerage firm Willis Group Holdings, is unloading his full-floor apartment at The Stanhope for $32 million, according to Curbed NY.

    From the listing photos, the Fifth Avenue pad is absolutely gorgeous and impeccably decorated. It has six bedrooms, a bright living room, and is filled with modern art.

    But buyer beware: The apartment was the subject of a lawsuit last year, in which Plumeri claimed he discovered "numerous latent defects" while embarking on a gut renovation, according to Curbed.

    Looks like the renovation is now complete, but Plumeri isn't sticking around to enjoy the finished product.

    The apartment takes the entire fifteenth floor of The Stanhope, a classic NYC hotel that was converted into a co-op in 2005.



    It's accessible via a private elevator.



    The living room is gigantic, and flanked by the dining room and library.



    See the rest of the story at Business Insider

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    Each week we take a look at how much house you can expect to get at a specific price point. This week, we’re looking at homes priced around $450,000.

    Seattle, WA

    1542 18th Ave S, Seattle, WA
    For sale: $449,950

    Seattle, WA

    This brand new 1,896-square-foot Seattle home is a modernist’s dream. With slab quartz countertops, stainless steel appliances and clean lines throughout, the house makes a bold, modern statement.

    Placerville, CA

    893 Estey Way, Placerville, CA
    For sale: $454,900

    Placerville, CA

    Small-town living is at its finest with this 2,434-square-foot Placerville home. The custom traditional design has high-quality finishes including granite counters and Brazilian cherry floors, as well as a energy-efficient stucco exterior and tile roof.

    Salt Lake City, UT

    32 O St, Salt Lake City, UT
    For sale: $455,000

    Salt Lake City, UT

    Salt Lake City winters are out of a storybook with this quintessential cape cod. Arched doorways lead to a cozy living room and fireplace, as well as an updated kitchen with cream finishes and a tiled back splash. The bathroom has also been newly renovated with wainscoting and double sinks.

    Indianapolis, IN

    8504 Sargent Ln, Indianapolis, IN
    For sale: $450,000

    Indianapolis, IN
    Secluded on a wooded acre, this Indianapolis estate spans 4,323 square feet. With a third-floor bonus room, large attic, sun room and finished basement, there is no wasted space. The kitchen also provides a large common area with high-end appliances, solid-wood cabinets and an expansive granite island.

    Mickleton, NJ

    43 Forage Dr, Mickleton, NJ
    For sale: $450,000
    Mickleton, NJ
    Ten windows and a craftsman porch greet visitors of this contemporary ranch-style home. Five bedrooms and 3 baths, as well as a finished basement, make the house suitable for large family get-togethers. An in-ground saltwater pool is also perfect for summer entertaining.

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    home theaterGoing to the movie theater is an activity that Americans have enjoyed for over a hundred years.

    But sometimes it is easier to stay home than to wait in line at a crowded theater.

    Those who prefer to stay in and could afford it have built some spectacular home cinemas.

    Our friends at Estately.com have helped us find some of the best home theaters in homes that are currently for sale around the U.S.

    Oscar statues about at this house in Rancho Santa Fe, Calif., on the market for $22.5 million.

    Click here to see the listing.



    This $10.88 million Orange County, Calif. home has a theater with plush seats.

    Click here to see the listing.



    More Oscar paraphernalia in the theater of this $5.9 million home in Houston, Texas.

    Click here to see the listing.



    See the rest of the story at Business Insider

    Please follow The Life on Twitter and Facebook.


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    tommy lee jones polo ranch

    Actor Tommy Lee Jones has just listed the 50-acre polo farm he owns in Wellington, Fla. for $26.75 million, according to a South Florida gossip blog (via Zillow).

    Jones bought the property a decade ago and built the equestrian center himself. The Lincoln star is a known polo lover who also owns a ranch in Texas.

    In addition to recreational facilities and miles of horse trails, there's a four-bedroom, two-bathroom house on the property.

    The 50-acre ranch is a half-mile from the International Polo Club.



    The main house is 11,000 square feet.



    Inside, it's pretty simple.



    See the rest of the story at Business Insider

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    4444  95TH AVE NE

    Mich Matthews, a former Chief Marketing Officer at Microsoft, is selling her sick 4 bedroom waterfront home in Washington for $9.3 million, says the WSJ.

    The coolest thing about this property, aside from the waterfront obviously, is that it has a pool house. Not a pool house where you keep pool things and house guests. It's a separate house with a pool inside of it.

    It even has a dryer with a special bathing suit spinner in it so that everything is drier, faster.

    The main house is pretty big too, at 10,040 square feet.

    Larry Williams of John L. Scott Real Estate has the listing.

    4444 95TH AVE NE



    4444 95TH AVE NE



    4444 95TH AVE NE



    See the rest of the story at Business Insider

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    slide apartment

    Some home designs are inspired by an era or piece of art. The new issue of Bloomberg Pursuits takes a look inside a 7,000-square-foot penthouse in lower Manhattan that was inspired by math.

    The unconventional space, with sloping walls, hidden lofts, and a 40-foot steel column, was designed by architect David Hotson.

    Bloomberg Pursuits' Justin Davidson explains how the design was conceived:

    To help Hotson along, his mathematically minded client sent him his dissertation, about an algorithm capable of discerning the structure underpinning complex sequences of symbols: a Bach partita, a human genome, a sonnet.

    It turns out that if you feed in enough data, a computer can deduce the principles of counterpoint, heredity and Elizabethan verse. Hotson similarly used raw computing power  and a 3-D laser scan of the unfinished space  to render a design that previous generations could hardly have visualized, let alone built.

    The best part of the house, by far, sounds like the 4-story stainless steel slide that lets riders out near the dining room table. It was installed in two separate pieces, before there were walls or floors.

    The one question Bloomberg doesn't answer  who is the mystery owner of the funhouse? If you have a guess, let us know in the comments.

    Check out Bloomberg Pursuits' interview with Hotson:

     

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    Monaco remains the most expensive residential real estate market in the world, with luxury homes costing anywhere from $5,350 to $5,920 per square foot, according to a new wealth report from Knight Frank.

    While real estate prices in the tiny country are consistently high, Monaco saw a bump this year as buyers shied away from French hotspots in reaction to President Hollande’s wealth tax proposals, the Knight Frank report said.

    And Monaco, which does not charge a personal income tax, was particularly popular with Russian buyers over French markets, according to the report.

    Luxury real estate prices there increased 2 percent year over year. Prices in 2012 jumped the most in Indonesia, where they increased 38 percent in Jakarta and 20 percent in Bali.

    The number of wealthy people in the world is also growing, and set to increase quickly in the next decade, according to the report.

    The number of people worldwide worth $30 million or more increased by almost 8,700, or 5 percent, in 2012, and their number is set to increase 50 percent in the next 10 years, according to Knight Frank's forecasts.

    Here are the 20 most expensive places to buy luxury residential properties, according to the report (click to enlarge):

    knight frank chart

    SEE ALSO: Meet The Richest Person From Every Major Country In The World

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    Jakarta and Bali, both in Indonesia, ranked highly on real estate firm Knight Frank's new index of price growth in the world's luxury real estate markets.

    The capital city of Jakarta, where prices increased 38 percent year-over-year, topped the list this year. And Bali ranked second, tying Dubai with a 20 percent increase in luxury real estate prices between 2011 and 2012.

    Knight Frank explained the growth:

    Jakarta benefited from continued strong GDP growth, which has stood at or above 6% for five out of the past six years and, in particular, from rapid growth in middle-class wealth. Increased access for non-resident purchasers could help sustain the trend through 2013.

    In Jakarta, prices jumped from $250 per square foot to $346 per square foot. And in Bali, they went from $224 per square foot to $269 per square foot, according to Knight Frank.

    While a third of the cities in the report experienced price growth in 2012, prices declined in around half of the cities analyzed in the report. Overall, the Asia-Pacific region fared well, while Europe struggled.

    According to Knight Frank, the dichotomy stems from the aftermath of the financial crisis:

    The search for safe haven investments has continued to propel prices higher in key global cities; some of the markets worst hit by the global financial crisis appear at long last to be recovering; and the impact of growing global wealth flows has kept governments busy in their attempts to limit price growth and deflate nascent real-estate bubbles before they explode.

    Even with the upswing, Jakarta and Bali still fell outside Knight Frank's list of the 20 most expensive places to buy luxury property.

    Here are the 20 cities (out of 80 analyzed by Knight Frank) where prices on luxury residential real estate rose the most in 2012:

    knight frank chart

    And the markets where they decreased the most:

    knight frank chart

    SEE ALSO: The Cities That Matter Most To Wealthy People

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