The story of the Madoff's fall from grace continues — this time, you can buy a huge piece of it, says the NYT.

Bernie Madoff's brother, Peter, was the compliance officer at the family investment firm and last year pleaded guilty to accusations that he falsified documents and lied to regulators for years in order to continue his brother's infamous Ponzi scheme.

Now his assets must be liquidated along with Bernie's.

This 7,992 sq ft Long Island mansion boasts five bedrooms, a tennis court, pool (with two bedroom pool house) and carefully planted gardens. U.S. Marshall's took over the house back in January.

What's more, you can buy just about everything in this house. According to the NYT, the books, knick-knacks etc. all over the house were given the full U.S. Marshall treatment and all have white price tags attached.

Shawn Elliott of Shawn Elliot Luxury Homes and Estates has the listing.

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After six months on the market, Madonna has sold her 6,000-square-foot Central Park West pad to hedge fund manager Deepak Narula for well under the $19.995 million asking price, The Wall Street Journal reports.

The apartment had initially been listed for $23.5 million, a figure that was lowered months later. The final sale price was not disclosed, but it was "considerably less" than it was listed for, according to the WSJ.

The apartment, which Madonna had owned for years, has six bedrooms, eight bathrooms, and 110 feet of Central Park frontage. It was once featured in a spread in Architectural Digest and we can see why: The simple decor was done by her younger brother Christopher G. Ciccone.

The apartment is in a co-op that was built in 1907, and has 10'3" foot ceilings, a library, and five wood-burning fireplaces.

SEE ALSO: Madonna Also Lived In This Fabulous Mansion

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Have you seen the ad for my apartment?

No?

Excellent – my strategy is working!

I will never advertise my apartments on Craigslist.  And your broker will never hear of them either.

Here are a few reasons I don't work with brokers:

• Using a broker tells me that you lack confidence and independence, and may have an elevated sense of self-importance, all of which suggest that you’ll be an annoying tenant. I share a walk-up building with some of my tenants, so they have the ability to make my life a living hell. Moreover, unlike many bigger landlords, I’m not a real estate pro; I’ve still got a day job that pays far more than the maximum amount I could ever squeeze out of my rentals. My rentals are my pension, and my goal in finding a tenant is a person who will be a good neighbor, who respects my property and my time, and who won’t be a pain in the neck. That's why I’m looking for seasoned New Yorkers with a DIY vibe. If you can’t even find an apartment without training wheels, can you change a light bulb, install an A/C unit, or fix your toilet without calling me? 
• Most brokers charge 12 to 15% of a year’s rent.That's money that I could get by charging a higher rent. But instead of hiring someone to pick a tenant’s pocket, I’d rather keep the cost of moving in low and encourage the tenant to spend more on new furniture and apartment upgrades.
• I like to meet each of my tenants in person. Since they are going to be my neighbors too, I want to see how well we get along, and to see how their experiences have prepared them to live in my building. Brokers interfere with that process, and make it hard to get a sense of what the tenant is actually like.
• I’m not looking to have Section 8 tenants in my building, because I simply don’t have the time or energy to deal with a government bureaucracy that might or might not pay me, and to sit at home waiting for the apartment to be inspected. By carefully selecting who sees my ads (more on that below), I can filter out nearly all of the applicants who might be Section 8 tenants.  Not so of a broker, especially since the common marketing strategy for brokers is to stick the apartment on Craigslist.
• Brokers often don’t even do a very good job protecting my interests. If the brokerage fee came with a money-back guarantee for both tenant and landlord, I’d consider it, but what if my tenant doesn’t even pay me? It isn’t as if I can go sue the broker for malpractice.

What, no Craiglist?

Twenty years ago, when the Internet was used mostly by geeky university dwellers, Craigslist was a great idea. Now, putting an apartment on Craigslist, as often as not, is an invitation to scammers, and local “entrepreneurs” who will pose as me and try to “rent” my apartments. I also avoid other websites like StreetEasy/Zillow/whatever, who will carefully log the trajectory of rental price changes that I’ve made. No thanks.

Instead I selectively market my apartments to friends of friends, employees of finance companies and prestigious law firms, and alumni of elite universities and private schools.

Bottom line: If you aren’t in one of those aforementioned networks, you won’t have a crack at my apartments. NYC’s incredibly tenant-friendly court system and my lack of a professional staff mean that if I don’t have some way to easily vet you, you are too much of a risk.

But don't hate me too much. Contrary to popular belief about landlords, I really want my tenants to stay long-term. This is due to the basic economics of being a landlord: it costs me a lot of time and effort to rent you the apartment, to clean up after your move, to deal with the utility companies before and after, and to patch, paint, and renovate when you leave.

Even if I could jack up the rent by another 5%, if it cost me a month of vacancy, it would take two years to break even, and that assumes that the new tenant doesn’t find a better deal and leave. So (at least with my free-market units), I’m happy when you are happy, and I’ll try and give you a good reason to stay here.

Lessons from a Small Landlord is a bi-weekly column penned by a real-life NYC landlord whose pseudonym is Craig Roche.

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• Inside tips for amateur landlords

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Real estate investor Andrew Borrok has once again listed his 20,000-square-foot mansion in the Hamptons for $58.5 million, according to The Real Deal.

The eight-bedroom home in Water Mill was first listed for the same price back in 2010, The New York Post reported. Borrok originally bought the property in 2003 for $3.6 million.

The estate, which is currently listed with Douglas Elliman, has a tennis court, Jacuzzi, infinity pool, eight fireplaces, a wine cellar, and a private pier right on Mecox Bay. It sits on four acres of land.

The property also comes installed with Crestron security cameras that can be controlled and monitored from anywhere in the world — an important security measure for anyone willing to spend $58 million on a house.

The home was previously listed with Douglas Elliman for an undisclosed price back in January of this year.

An aerial view of the huge 315 Rose Hill Road property shows its proximity to Mecox Bay.

Source: Douglas Elliman Real Estate

There's a long, distinguished driveway that leads up to the home.

Source: Douglas Elliman Real Estate

Do you see the resemblance to 1600 Pennsylvania Avenue?

Source: Douglas Elliman Real Estate

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Russian fertilizer tycoon Dmitry Rybolovlev plans to level the $95 million Palm Beach property he bought from Donald Trump in 2008 because of mold problems, Gossip Extra reported.

The sale of the 33,000-square-foot property, dubbed Maison de L’Amitie, was the highest ever for a single-family home, netting Trump a more than $50 million profit, according to the site.

Mold has become a “Wal-Mart-size problem,” Gossip Extra wrote.

“I don’t care about the house,” Trump told Gossip Extra. “I bought it for $41 million, put in $3 worth of paint and gave it a good cleaning — and I sold it for the highest price ever for a single family home. I don’t know what he wants to do with it, and I couldn’t care less,” he said.

Rybolovlev, the billionaire owner of the A.S. Monaco Football Club, could chop up the 6.26-acre property, which includes a 475-foot-long beach, into as many as a dozen beachfront lots, the site said, citing an unnamed source. [Gossip Extra]

More from The Real Deal:

1. South Beach Setai $8.6M condo sale sets record
2. Morgans fighting bad deal it made in recession
3. High-end home sales smash records as South Florida market catches fire

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The families of Chinese real estate developer Zhang Xin and Brazilian banking magnate Moise Safra paid $1.4 billion for a 40 percent stake in the General Motors building, the Wall Street Journal reported.

This values the building at 767 Fifth Avenue at roughly $3.4 billion, making it the country’s most valuable office property.

Relatives of Zhang – who is the founder and chief executive officer of Beijing megadeveloper Soho China – and the Safra family’s New York-based investment arm M. Safra & Co. bought the stake in the 50-story, 2 million-square-foot property through an entity called Sungate Trust, a source familiar with the matter told Bloomberg News.

The sellers were Goldman Sachs Group's U.S. Real Estate Opportunities Fund, which invests on behalf of the sovereign wealth funds of Kuwait and Qatar; and Dubai-based private equity firm Meraas Capital, the source told Bloomberg News. The sale closed May 31, the source added.

The building – which takes up a full block between Fifth and Madison Avenues and 58th and 59th Street — houses an Apple store at street level. The deal — which follows Crown Acquisitions and Highgate Holdings’ $1.3 billion purchase of 650 Madison Avenue from the Carlyle Group — comes at a time when investors looking for yield have been paying top dollar for high-end office properties, causing values to escalate faster than rents and occupancy.

CBRE Group’s Darcy Stacom and Bill Shanahan handled the transaction. Boston Properties retains a 60 percent stake in the building and isn’t looking to sell, according to the Journal. [WSJ and Bloomberg News]

More from The Real Deal:

1. Sex does sell in real estate: Study
2. Witkoff to spend $300M on Toy Center building conversion 
3. Hell’s Kitchen rental buildings sell for eye-popping $880 per buildable foot 

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One of London's most famous real estate developers has listed his triplex penthouse in New York's Plaza Hotel for $59 million, The Wall Street Journal reports.

Christian Candy — who last year paid $25.9 million for the unit — is flipping the pad for more than double the price after redecorating it with his own design company Candy & Candy, according to WSJ.

The home, which is located on the 19th, 20th, and 21st floors of the iconic hotel, is listed with Brown Harris Stevens realtor Kyle Blackmon. It has uninterrupted views of Central Park and New York's skyline.

With over 6,000 square feet of space and a 230-square-foot balcony that looks out over Central Park, the penthouse is quite extravagant.

If the penthouse sells at its astronomical asking price, it would be a record for the Plaza Hotel, according to WSJ, surpassing the previous record purchase of $48 million for two adjacent condos in 2011.

Candy is best known as the developer of London's One Hyde Park, the world's most expensive apartment building.

See a few interior pictures of the stunning listing below.

SEE ALSO: This Monaco Penthouse Concept Could Hit The Market For $280 Million

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So you’ve seen the heated indoor lap pool in the state-of-the-art fitness center, toured the screening room, entertainment lounge, game room, catering kitchen and pet spa. But take a moment before you rush over to the leasing office to sign on the dotted line.

Here are ten questions to ask before renting in a luxury building:

1. Do you have to pay extra for the gym?

Sure, the building’s fitness center rivals your local Equinox—with a lap pool, elliptical machines a-plenty and round-the-clock spin classes—but if it isn’t included in the rent, you might end up paying more than you would otherwise for a gym just because it’s on premises.

If you already use the gym at work for a nominal fee, or if you'll have to pay a hefty penalty to quit your current gym--or if you've never ever worked out in the past--don’t allow yourself to be won over by the impressive exercise facility.

If, on the other hand, having a gym just an elevator ride away from home sounds perfect to you, check it out at the time of day you would normally want to use it to see if there's a wait for your favorite exercise equipment.

2. How's the cell-service in those sky-high apartments?

Spotty cell service can be a problem for those who dwell several dozen stories above the earth. Find out if the building offers a technological workaround, like a cellular base station that connects calls through a broadband network.  And ask how much extra it will cost you.

3. Is the location convenient enough?

In classic razzle-dazzle NYC real-estate chutzpah, landlords and management companies often compensate for an awkward location--say, three avenues from the nearest subway line--by piling on amenities and charging luxury rents. 

Practice your commute--and remain focused.

“People get excited about amenities they rarely wind up using,” says Phil Lang of Suitey, a referral network of high-quality New York City real estate agents established by Lang and fellow Yale graduate David Walker in response to the apartment search travails of their classmates and colleagues.  "It's important to stay practical."

(FYI, BrickUndergrounders can sign up here to take advantage of Suitey's low corporate rate on rental broker fees--usually around 10% of a year's rent versus the standard 12-15%.) 

Lang says that new arrivals to the city--as well as their parents, who frequently reach out to Lang ahead of their college-graduate children--are most susceptible.

“Don’t allow yourself to be swayed by amenities you won’t use anyway. If you’ve never stepped foot in a gym before, you probably won’t start now," says Lang. "And if you don’t have a pooch to pamper, the pet spa is useless."

Keep location a top priority. You'll use the screening room/golf simulator/roofdeck a fraction of times you'll commute...twice a day, five days a week, all year round.

If you decide a long commute is worth it, and the building runs a shuttle bus to the nearest subway line, find out how frequently it runs--and whether it will be operational on weekends.

4. Are guarantors accepted?

Luxury buildings don't come cheap. If your annual income (or your and your roommates' income combined) doesn't add up to 40-45 times the monthly rent--and if putting down a larger security deposit (say, 4 to 6 months rent) isn't possible--will you be allowed to call in some reinforcements? 

Many landlords will accept a guarantor who makes at least 80 times the monthly rent and lives in the Tri-State area.  

If you're short on wealthy nearby relatives, see if the building is one of the thousands in NYC and other major cities that accepts Insurent, an institutional lease guarantor that guarantees leases for a fee of about a month's rent. 

5. What’s the story with storage space?

Your luxury building is more likely than other types of rentals to offer storage space, bike spaces, stroller storage and even wine storage, but is there a wait list? Is the price included in the rent? 

6. Are you guaranteed a spot in the garage?

If you’re one of the lucky/unlucky New Yorkers who owns a car, you may be sick of playing the alternate side parking game every morning. But even if your new building has a garage, don’t just assume that you’re guaranteed a spot.

Many places have waiting lists a mile long, with people waiting months, if not years, for a parking space.

Find out if you have a chance of getting into the parking structure anytime soon or if you’ll simply be circling a different neighborhood in search of a spot after your move. Valet parking is also available at a number of buildings—for an additional charge.

7. What is the temporary wall policy?

In recent years, safety concerns have led a number of NYC buildings to disallow temporary walls in favor of bookshelves or partial walls that don’t reach the ceiling. So if you can’t swing the apartment's rent without a roommate, or afford a true two-bedroom, find out the building’s official policy on carving out your own space.  (And don't take your broker's word for it.)

8. Is the building technology-enabled? 

Websites like BuildingLink.com allow residents to input maintenance requests and send instructions to doormen at any time of the day or night. It also emails you when packages have been delivered.

Lang recommends finding out whether your desired building is signed up for such an account or stuck in the Stone Age using sticky notes to track deliveries.

9. Are dogs allowed?

Luxury rentals tend to be more dog-friendly than many rental buildings (at least if your dog is under 50 pounds). You will probably need to sign a pet rider—an addendum to your lease that lists the number and type of pets you own--and pay a pet deposit. You may also have to ride the service elevator when you're walking your dog, so ask about any special rules that apply.

Many luxury buildings permit smaller pets (under 50 pounds), but prohibit larger animals or exotic pets that might frighten other residents.

10.  Do they take credit cards?

Many large buildings owned by national REITs accept credit cards, explains Lang. Before you hand yours over, ask whether you will be charged a "convenience fee" for the pleasure/points of putting your rent on plastic.

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• From 1 room to 2: The insider's guide to temporary walls
• Moving to NYC? Here's a crash course in finding an apartment here

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Dolly Lenz, Douglas Elliman’s perpetually top-ranked luxury sales broker, is leaving the firm after a 14-year tenure, The Real Deal has learned.

Lenz was not immediately available for comment on the reason for her departure. Elliman declined to comment.

For years, Lenz and fellow power broker Carrie Chiang of the Corcoran Group battled for the top spot on TRD‘s list of top Manhattan listing agents.

Lenz eventually withdrew from her company’s own competition in 2011 in order to allow other brokers a chance to contend. Instead, she received a newly created Stratosphere award. This year, the brokerage’s top honor was awarded to Brazilian broker Marcos Cohen.

“Dolly’s production and transaction volume speaks for itself over the course of her career as a top producing broker,” said Andrew Heiberger, CEO of residential brokerage Town Residential, of Lenz’s departure. “She is probably pursuing an opportunity where she can leverage her brand, but this is just an outsider’s opinion.”

Kathy Braddock, co-founder of Rutenberg Realty, said Lenz’s departure might mean more of a loss to Elliman from a brand perspective than from a financial point of view. Lenz has recently made several television appearances, including on a one-off CNBC show entitled “Secret Lives of the Super Rich: Mega Homes,” in which she talked about calculating multi-million dollar price tags, six-figure commissions and told real estate war stories.

“I don’t know what [commission] split she’s on,” Braddock said, “but I don’t know if it’s such a monetary thing. [Her listings and connections] give them visibility.”

On his blog, fellow Elliman star broker Leonard Steinberg addressed whispers that Lenz might be set to start her own firm.

“Rumor has it she will be following the footsteps of brokers such as Michael Shvo, Shaun Osher and Wendy Maitland to start her own brokerage firm,” Steinberg said, referring to the independent broker, the CEO of Core and one of Town’s early hires, respectively. “The departure does not come as much of a shock to the industry: the rumor mill has been whispering of Dolly’s departure for some time.”

While Lenz had been consistently the top-producing broker at Elliman for years, Steinberg said her dominance had been somewhat “eroded” more recently by the rise of brokers like Shvo, now a developer, and Elliman star Raphael De Niro.

Still, if Lenz were to open her own company, she’d have a following with which to do so, sources said.

“[Her departure] is surprising but it’s not super shocking,” said top-producing broker Richard Nassimi of the Corcoran Group. “I don’t think she left Douglas Elliman because of Douglas Elliman. She is a name. She could open the Lenz Real Estate Group tomorrow and people would follow her.”

Braddock said it’s not unusual for a top-level broker to get itchy feet after a lengthy stint at one firm. Brokers “max out at a certain time,” she said.

Lenz has worked with celebrities like acting duo Antonio Banderas and Melanie Griffith as well as rocker Billy Joel and designer Karl Lagerfeld.

She is currently listing a $95 million penthouse at the Sherry Netherland at 781 Fifth Avenue and a three-bedroom residence at 116 East 61st Street, which is asking $12.49 million, according to her Elliman profile page, which has not yet been removed.

Lenz has not been seen around the office in recent months and did not attend the company’s annual awards ceremony earlier this year, according to sources within the firm. Her assistant, Nicholas Polihros, has also departed the firm, they said.

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Music man Billy Joel has sold his mansion on Miami Beach's posh La Gorce Island to Italian handbag mogul Diego Della Valle for just under $14 million, according to Trulia's luxury real estate blog.

The singer had listed the mansion in May 2012 for $14.75 million, just over a million dollars more than he paid for it in 2006.

The 8,880-square-foot Mediterranean-style home, is located on a .67-acre slice of waterfront, with expansive bay views and space to park a yacht.

Della Valle is the president and CEO of Italian leather goods company Tod's.

The mansion is located on La Gorce Island, a gated community in Miami Beach.

Unbeatable views of the water.

The house has 7 bedrooms and 8.5 baths.

Wealthy home buyers are quickly running out of mansions to buy.

While housing inventory is falling throughout the country, it's falling especially fast in some of the country's richest ZIP codes.

A study from Altos Research, the Mountain View, Ca., real-estate research firm, found that inventory in the nation's 90 wealthiest ZIP codes fell 15 percent over the past year, slightly faster than the broader market.

But in the richest ZIP codes, inventory is down more than 50 percent. In a ZIP code in Carmel, Calif., inventory fell 76 percent over the past year. There were only four homes left on the market priced at $1 million or more as of the end of May, according to Altos.

In Palm Beach, Fla., the number of $1 million-plus homes has plunged by 70 percent, falling from 89 to 26. And in the Old Greenwich, Conn. ZIP code, there are only 10 homes left priced at $1 million or more, down 58 percent, according to Altos.

(Read More: $1 Million Hamptons Rentals on the Rise)

"I don't recall seeing the market like this, and it's come so quickly," said Cristina Condon of Sotheby's International Real Estate in Palm Beach. She said buyers have poured into the market in recent months, many from overseas. American buyers are also piling in—some from higher-tax states like California, lured by low taxes and still-low prices in Florida.

Condon said one of her listings that sold in the past year is a $11.3 million property on the Intracoastal that had six bedrooms, two baths, and Tuscan-inspired gardens, along with a pool and a boat dock. 

Interest in her remaining listings remains strong. She cited strong interest in a $34.9 million lakefront estate in Palm Beach as an example. The 13,278-square-foot mansion has 7 bedrooms, 8 baths, a sprawling pool overlooking the Intracoastal Waterway with outdoor loggias.

(Read More: Biggest US Home to Be Completed in 2015)

In Connecticut, some $1 million-plus homes are selling just days after being listed. David Oglivy of David Oglivy & Associates in Greenwich said he had a listing at $1.38 million that sold in just two days. He said the home was viewed 14 times.

"The Old Greenwich market right now is just super hot," he said. About half the buyers are people moving within Greenwich and others are moving from New York City and other areas, he added. While some realtors worry that shrinking inventories could crimp future sales, Oglivy says he's not worried.

"The inventory is fine," he said, adding that luxury inventories in the broader Greenwich area remain higher.

Carmel and Pebble Beach, Calif., have seen a rush of buyers from Silicon Valley as well as from Europe and Asia. But the number of new, high-end listings has been limited.

"We are seeing an influx of luxury second home buyers coming into the market including venture capitalists, tech money, oil and gas, developers and CEO's," said Tim Allen, of Tim Allen Properties in Pebble Beach.

(Read More: Wealthy Horse Owners Jump Back Into Equestrian Estates)

Pebble Beach and Carmel have seen a total of 106 sales in the past four months—well above the previous four months. A 3,000 square-foot ocean-front home in Carmel sold for $16.5 million this year, which marked a new record for Carmel.

A home in Pebble Beach sold for $22.5 million, though the new owners plan to remodel. Allen said that an added factor in the high end of the real-estate market is that sellers are under less financial pressure to sell, which leads to less inventory. He said inventories remain healthy, with some high-end neighborhoods still filled with "for sale" signs, but some enclaves are selling out fast.

"These sellers can hold on until they see prices where they want," Allen said. "In some of these areas, all it takes is five buyers and you can sell out."

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Watchcase, a new condominium complex that's under construction in Sag Harbor, is like no other property in the Hamptons.

There are almost no other condos on the East End, and none as luxurious as Watchcase — which is being built in a dilapidated factory building that's being painstakingly restored — making it an attractive option for wealthy buyers who want convenience.

"There's a trend of people who don't want to deal with the extravagant costs and year-round stress of home ownership out east," said James Lansill, managing director of Corcoran Sunshine Marketing Group, which is heading up sales.

They've seen significant interest from European jetsetters who want to come and go as they please, current Hamptons homeowners who want to simplify their lifestyles, and longtime renters, said Gordon Hoppe, SVP at Corcoran.

The 64 homes at Watchcase won't be completed until next winter, but they are already flying off the market: 22 contracts have gone out so far on residences, which are priced between $1.02 million and $10.2 million.

I recently took a seaplane to Sag Harbor to tour the development. It's still a construction pit, but I got a good idea of what Watchcase will look like when it's finished from the model apartment and renderings. 

Between the history and location, it's easy to see why buyers are going crazy for it.

First, a bit of history. Sag Harbor was a major whaling town in the early 1800s, and thrived as an industrial center. The factory building that's being converted into luxury condos was originally a cotton mill. Watch manufacturer Bulova later took it over for watchcase production.

The building, located right off Sag Harbor's Main Street and a couple of blocks from the water, was abandoned in the 1980s and became a huge eyesore for the community.

Instead of demolishing the factory and constructing something new, developer Cape Advisors decided to restore the the building and convert it into luxury apartments. When it's finished, it should be restored to its former glory.

New York University loaned its school president John Sexton $1,000,000 to finance his lavish vacation home on Fire Island, according to a report from The New York Times. 

The Times describes the beach house as a "composition in bold, unadorned planes" that occupies three lots. Alternet.org points out a 2009 profile of Sexton in The Times, in which the NYU president calls his Fire Island residence a "rather large, wonderful house" where he spends most summer and fall weekends. Sexton currently receives an annual salary of nearly $1.5 million and stands to receive a $2.5 million bonus in 2015.

According to Alternet, NYU has acknowledged 168 real estate loans to its faculty and administrators, totaling an estimated $72 million to $96 million in outstanding funding. Sexton himself has access to two apartments in New York City funded by the university — one from his current position as president and one from his former position as dean of NYU's law school, which he retains as his primary residence.

While it is common for colleges in expensive areas to attract top talent with loans for housing, funding for vacation homes is "all but unheard-of in higher education," the Times says.

Former George Washington University President Stephen Joel Trachtenberg, a supporter of high salaries for professors, told the Times that vacation homes are "a little too sexy even for me":

"I don’t mind paying someone a robust salary, but I think you have to be able to pass a red-face test,” Trachtenberg told the Times.

NYU has previously drawn attention for their massive building expansion plan, NYU 2031, which will likely cost the school billions. Critics argue that NYU's spending on faculty and facilities is excessive, and ignores a major problem at the university — student debt. NYU alumni are consistently ranked among the graduates with the highest student loan debt in the country.

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The stunning East River mansion known as the Ellen Biddle Shipman Residence has just sold for $35 million, according to The New York Observer.

The East 50th Street and Beekman place home went for $13 million less than the original $48.75 million asking price.

The townhouse, currently still listed on the Brown Harris Stevens website, had a price cut to $43 million in recent months. 

According to the NYO, the unknown buyer was so enamored with the mansion, that he or she also bought all the existing furniture in the six-bedroom home.

Shipman was a prominent garden designer who clientele included Robert T, Vanderbilt, J.S. Rockefeller, E.I. Du Pont, Mrs. M.T. Mellon, Theodore Roosevelt's son Kermit, and Vincent Astor.

Welcome to Beekman Place on the Upper East Side. The street is very secluded, so you'll feel like you're in a ritzy suburb.

The kitchen is any chef's dream, with a six-burner LeCornu range, a center island, and twin SubZeros.

The sweeping staircase is beautiful, but if you're too tired to walk the five floors, you can just use the elevator instead!

Luxury listings are in a league of their own, not only in terms of price and amenities but also in the often elaborate lengths agents must take to get these exclusive properties sold.

Whether sold traditionally or through auction, the process of buying and selling luxury real estate is just as unique as the people who call these properties home.

Takes money to make money

Having the listing to a pricey property is definitely nice, but selling it is far more rewarding.

In order for a property to sell for top dollar, the listing agent must pull out top-notch marketing efforts, usually spending tens of thousands of dollars on brokers’ opens, virtual tours, home staging, over-the-top open houses, professional photography — anything and everything to gain exposure and grab prospective buyers’ attention and help them picture themselves living there.

Words to live by

When it comes to luxury, it’s not solely about the home but rather the lifestyle that comes with it. Property descriptions aren’t limited to “top-of-the-line kitchen” and “amazing master suite.” Phrases highlighting “phenomenal views of the ocean while laying in bed” and the “soaring ceilings that allow for better vision of the panoramic city views from the living room” are the norm, giving buyers a sense of what life would be like (and how much better life would be) if they owned the property.

Price per square foot and getting the “best deal” are rarely crucial factors when it comes to these types of homes. Instead the architecture, amenities and minute details add up to grandeur, allowing for the ultimate bragging rights.

Buyer credentials

Not just anyone can walk through a $10 million home. Be ready to show proof of funds, a pre-approval letter and undergo a background check — just to view most luxury properties. Sellers wants to ensure the prospective buyers who tour their homes are in fact serious, and those who cannot provide that information are deemed unworthy — literally.

Sold to the highest bidder

Some sellers choose to forgo the traditional selling process altogether and instead offer their luxury properties through auctions. Art, cars and other collectibles are sold through this process, so why not a home? For many luxury homeowners, putting their estate in an auction is the fastest and most effective way to get the property sold for the best price and within the time frame they want. Bidders come in with the understanding that low-ball offers should be left at the door, and only the highest and best will seal the deal.

Samantha (Sam) DeBianchi is a Realtor and founder of DeBianchi Real Estate. Her expert real estate advice and straightforward approach can be seen and heard on FOX Business. Always keeping it REAL, you can follow Sam online on Twitter and Facebook.

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If you are thinking about buying a home, you are not alone. According to the New York Times, more Americans are getting home buying fever; home prices have seen the biggest increase in the past seven years over the the past month, in all 20 cities in the Standard & Poor’s Case-Shiller index. The latest report is building on a three month sustained increase.

With all of this good news about the housing industry, prices are inching up but mortgage interest rates remain low, making this an ideal time to make the transition to homeowner.

As you gear up to find a home and prepare for the home-buying process, you might already have a list of questions to ask a real estate agent to make sure you’re getting the best deal. But you also shouldn’t forget to post the hard-hitting questions to others, too, from the previous homeowners to the neighbors, and even yourself.

Go Banking Rates has the perfect home buying guide with 10 of the most important — but often forgotten – questions to ask when buying a house.

Home Buying Guide to What Questions to Ask When Buying a House

#1. Is renting vs. buying a better option?

Before you spend too much time looking for your dream home, you need to weigh all your options. David Bakke from the website Moneycrashers.com suggests you ask yourself the question, “Is renting vs. home buying a better option?” Depending on your situation, you may not be ready to buy, may need some time to save for a down payment, or may live in a more expensive housing market.

“If you have a lot of debt, a low credit score, or don’t have much money saved up, renting may be a better option,” advises Bakke. Someone with these factors may have to wait a few more years to be in a better financial situation before they are able to obtain a mortgage loan.

#2. What is the neighborhood’s crime rate?

The second thing regarding what questions to ask when buying a house is the safety of your neighborhood and town. David Bakke sums it up great, “What is the crime rate in the area?”

#3. What are my home ‘needs’ and ‘wants’?

According to Steve Aaron, a Beverly Hills realtor featured on HGTV’s “Selling LA,” “No property is perfect. What are your ‘deal breakers’ vs. your wants. Where are you willing and able to compromise?” The point here is to have a shorter check-list of “must-haves” when looking at potential homes.

#4. Where is the seller’s disclosure?

Even if you fall head-over-heels for a house, don’t be punch-drunk in love with it. Unlike a person, a home is just four walls — and there are plenty out there with many more being built. Mr. Aaron recommends to, “Ask the listing agent if there are any seller disclosures (known defects of material facts that can affect desirability or value) before you write an offer.” Just like a relationship, you need to take time to know your future partner, or in this case, your future home.

#5. Can I make the needed home renovations or additions?

If you are looking to add on to your home or do renovations, it is wise to check the house’s zoning or area disclosure. Steven Aaron told me, “Know if the property is located in any type of historic or preservation area or area disclosure. There may be limits on adding on, aesthetics etc.”

Based on my personal experience from litigation and headaches caused by neighbors, homeowners’ associations and local, state and federal government regulations, a little homework goes a long way. You should also look into your finance options to figure out how to pay for home renovations.

#6. What home inspections are available?

Have your home thoroughly inspected. Steven Aaron says, “You should perform as many inspections as possible in addition to a general.” Aaron recommends getting chimney, sewer line, pool/spa, geological and drainage inspections (where applicable). It’s worth the bit of extra time and effort to make sure you won’t have costly problems down the line.

#7. Why is the House for Sale?

Mr. Aaron points out an obvious, but often overlooked question:“What is the motivation of the seller?…Why are they selling?” He points out that by asking this question, “This may give you additional information that [is] helpful in writing an offer.” Sometimes the simplest questions often garner the most important information.

#8. Has the property been tested for radon?

Bill Redfern, founder and CEO of A Buyer’s Choice Home Inspections recommends asking, “Has this home had a radon test recently?” Having a potential home inspected for radon can be a literal life saver; according to the United States Environmental Protection Agency, exposure to radon can lead to lung cancer.

#9. Are smoke detectors properly installed and located?

Redfern also recommends checking the smoke detectors of any home you’re interested in purchasing. One of his questions to ask when buying a house is, “Are smoke detectors in the right locations in this home?” Don’t think if smoke detectors are put anywhere that they will be effective. Rather, he explains, “Smoke detectors save lives. It is important to put smoke detectors in the right places in your home – and you may not know if the home seller did that.”

#10. When was the last time this home had a mold inspection?

Mold can be a health hazard causing itchy eyes to permanent lung damage. Bill Redfern recommends to make sure the house is free of mold by asking, “When was the last time this home had a mold inspection?” Finding out when there was a mold inspection enables you to see the home’s history and determine if you want to proceed to making an offer and securing a mortgage loan for the home. If there is mold present, it will also help you determine how and by whom it will be taken care of.

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While there's been a trend of more and more people moving to cities, the suburbs still remain incredibly popular. But some suburbs are more popular than others.

Real estate company Coldwell Banker recently released their list of the Top Booming Suburbs In America as part of their "Best Places to Live" series.

They evaluated 1,500 suburbs and looked at a variety of factors such as employment growth, community safety, proximity to good schools, commute time, and access to suburban staples such as grocery stores and banks.

#10 Maple Valley, Wash. (Suburb of Seattle-Tacoma-Bellevue / King County)

Score: 971.73

Located outside Seattle, Maple Valley features three lakes, two golf courses, and miles of running and jogging trails. The suburb, which has about 24,000 residents, has doubled its population since the 1990s, making it one of the fastest growing areas in Washington State.

The job market is also strong, with a 3.5% growth rate in employed persons. Most people work in retail, construction, and education.

#9 Cooper City, Fla. (Suburb of Miami-Fort Lauderdale-Pompano Beach/Broward County)

Score: 972.10

Sitting 15 miles southwest of Ft. Lauderdale, Cooper City has just over 30,000 residents. One of the suburb's proudest features is Brian Piccolo Park which has tennis courts, multi-purpose fields, a skate park, and one of South Florida's only cycling tracks. The park also houses one of the best cricket grounds in the country.

The recreational opportunities and many local schools have made Cooper City known as an excellent place to "grow families."

Residents have an average age of 32.5 years.

#8 Lehi, Utah (Suburb of Provo-Orem/Utah County)

Score: 975.58

Lehi puts on the popular Lehi Roundup Rodeo, which stems from a history of agricultural and animal industries. Graduates of nearby Utah Valley University and Brigham Young University bolster the strong workforce in Lehi. 

Thanksgiving Point, a nonprofit located in Lehi, is becoming a big tourist spot for its 18-hole golf course, 55-acre gardens, and Museum of Ancient Life. It also hosts numerous events such as the Tulip Festival and an annual Half Marathon.

A super-luxe penthouse condo at the very top of Miami Beach's Faena House is on the market, and it can be yours for a cool $50 million.

The "House," developed and built by Argentina's Faena Group, is an 18-story condominium tower that sits on Miami Beach's widest stretch of white sand. It contains 47 residences, but the penthouse, with panoramic views of the beach, bay and downtown skyline is by far the most luxurious.

Designed by Foster + Partners (the same architect responsible for the Hearst Tower's new facade), the 8,000-square-foot penthouse features five bedrooms, two custom kitchens, and a private interior elevator, according to the Faena House's website. It also holds a media room, great room and dressing room. 

Most notably, the penthouse features a beautiful "alero," a sweeping Brazilian-style terrace that wraps around the entire building and adds a staggering 7,000 square feet of outdoor living space. 

Outside there's also an outdoor kitchenette, cabana and private 30-foot infinity pool. 

Floor-to-ceiling window wall and door systems open as wide as 12.5 feet in some places, and residents will have access to hotel-style amenities and services. This will include valet and private concierge service, an in-house spa and fitness center with direct ocean views, a private Beach Club with full cabana service, and two manicured pools.

In our dreams!

SEE ALSO: This East River Townhouse Just Sold for $35 Million

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Home prices have been climbing nationally for more than a year.

The Trulia Price Monitor, Case-Shiller, and other price indexes show price gains for nearly all large metro areas. But within a metro, the city and the suburbs are often totally different housing markets. 

In last decade’s housing bubble and bust, most of the overbuilding and foreclosures happened in the suburbs and outlying areas, but many downtowns are dotted with vacant buildings or even vacant blocks.

Which areas are seeing a stronger recovery – cities or suburbs? To answer this, we looked at (1) price gains, based on the change in median price per square foot among all non-foreclosure homes for sale on Trulia, and (2) population growth, based on the U.S. Postal Service’s count of occupied households in each ZIP code. Both measures are year-over-year, with prices through the end of May 2013 and population through mid-June 2013.

We classify urban and suburban neighborhoods based on the kind of housing they have – urban neighborhoods are mostly condos, apartments, and townhouses, while suburbs have mostly detached, single-family homes – which we think is more accurate than using big-city boundaries (see note).

Urban Neighborhoods Have Stronger Price Recovery, but Slower Population Growth
Here’s the punch line: urban neighborhoods had faster price growth in the past year, while suburban neighborhoods had higher population growth. The median asking price per square foot was up 11.3% in urban neighborhoods, versus 10.2% in suburban neighborhoods.  (The overall national increase, including urban and suburban neighborhoods, was 10.5%.) But despite faster price growth in cities, the suburbs are where people are moving: suburban neighborhoods had faster population growth than urban neighborhoods did, 0.56% versus 0.31%.

But shouldn’t price gains and population growth go hand-in-hand? Not necessarily: there’s more room to build new housing for a growing population in sprawling suburbs than in dense urban areas, so suburbs can more easily accommodate growth with new construction. In contrast, the more people want to live in dense, urban neighborhoods, the more they bid up the price of existinghomes. Even with the recent rebound in construction of urban multifamily buildings, most new housing is still in the suburbs.

Urban versus Suburban in the 20 Case-Shiller Metros
This morning, the Case-Shiller index reported on metro-level price changes. The table below shows the urban and suburban price changes for the 20 Case-Shiller metros using our median price per square foot measure. In 16 of the 20 Case-Shiller metros, urban neighborhoods saw bigger price increases than suburban neighborhoods. The gap was biggest in Detroit, Phoenix, and Miami, where urban neighborhoods had price gains of five percentage points or more than in suburban neighborhoods. Suburban neighborhoods had faster price growth than urban neighborhoods only in Seattle, Dallas, San Francisco, and Minneapolis.

Where Homeowners Can Take Pride in the Price Rebound
Urban neighborhoods had bigger price gains than suburban neighborhoods, but certain types of neighborhoods have seen an even bigger price recovery than urban neighborhoods overall. In “high-rise” neighborhoods, where more than half the housing is in buildings with 50 or more units, prices rose 11.9% year-over-year, compared with the overall national increase of 10.5% and the urban-neighborhood increase of 11.3%.The biggest price gains over the past year, however, were in gay/lesbian and racially diverse neighborhoods. Racially and ethnically diverse neighborhoods, where no group makes up a majority of the population, saw home prices increase by 14.3%. Neighborhoods where same-sex male couples account for more than 1% of all households (that’s three times the national average) had price increases, on average, of 13.8%. In neighborhoods where same-sex female couples account for more than 1% of all households, prices increased by 16.5% – more than one-and-a-half times the national increase. That means homeowners in America’sgayborhoods have yet another reason to celebrate this June, which is Gay Pride month.

Note: To compare “city” versus “suburb,” we group neighborhoods as either urban or suburban based on how dense or spread out the housing is. We define urban neighborhoods as those where a majority of the housing is apartments, attached townhouses, or other multi-unit buildings; suburban neighborhoods are those where a majority of the housing is single-family detached houses. We used this methodology rather than simply identifying the biggest city in a metro as “urban” and treating the rest of the metro as the “suburbs,” as other reports on cities-versus-suburbs often do. The problem with using city boundaries is that many neighborhoods outside of the biggest city are actually much more urban than some neighborhoods within a city’s boundary. For instance, our definition classifies Hoboken, NJ, Central Square in Cambridge, MA, and Santa Monica – which are all very dense – as urban neighborhoods, even though they’re outside the city boundaries of New York, Boston, and Los Angeles, respectively.National figures in this post are based on all neighborhoods in the 100 largest metros.

Jed leads Trulia’s housing research and provides insight on market trends and public policy to major media outlets including TIME magazine, CNN, and numerous others. Jed’s background includes a Ph.D. in Economics from Harvard University and more than 15 years of publications and research management in economic development, land use and housing policy, and consumer technology adoption.

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Former Tommy Hilfiger CEO and co-founder Joel Horowitz has a new plan to sell his gargantuan Lake Tahoe estate, which has been on and off the market for the past six years: He will personally finance the purchase for a qualified buyer.

The financing deals would be worked out once a qualified buyer is found, but it's a rare offer from a seller, a representative for the realtor said.

The home was initially listed for $100 million; it was relisted with Sierra Sotheby's International Realty in January with an asking price of $75 million.

The 210-acre estate, called Tranquility, is the largest on the Nevada side of Lake Tahoe. In addition to a 27,000-square-foot mansion, it has an indoor glass mosaic pool, private lake, two par-3 golf holes and an indoor golf simulator, horse stables, a wine cellar, a cinema, and separate guest and staff residences.

The decor is also impressive, from a replica of the staircase on the Titanic to four Rembrandt paintings. Nearly all of the furnishings are included in the sale price.

As 210 acres, Tranquility is the largest private estate on the Nevada side of Lake Tahoe.

It's incredibly private -- the perfect getaway for a billionaire.

In addition to a 27,000-square-foot main home, there are guest and staff quarters and a 16-car garage.