For all you survivalists out there, here's a chance to own your very own bunker. A Cold War-era nuclear bunker located in Pertshire, Scotland is up for auction later this month in Edinburgh for a guide price of £200,000 (or $332,680 dollars). 

The 26,000-square-foot, two-story hideaway house was built in 1990 to protect Scots during the growing nuclear threats from the Cold War, according to The Daily Mail. 

According to Future Property Auctions, which is selling the home, this property located on the Cultybraggan Camp is "one of the last and most technologically advanced Bunkers ever built specifically in relation to the Cold War threat." 

The bunker sits two miles south of the small village of Comrie in Pertshire. It is only two hours driving distance to Glasgow and Edinburgh.

It is surrounded by a security fence in Cultybraggan Camp, which was originally built to keep Nazis during World War II.

Cultybraggan Camp

The bunker reportedly cost the Scottish government more than £30 million ($50 million) to build, and was sold by the Ministry of Defence in 2007.

You've probably heard all about how San Francisco's real estate market is insanely hot. 

Here are a quick few pieces of data to remind you.

First, there's this flier listing apartment rents that SF-based writer Adam Carstens posted to Twitter a couple weeks ago. Yes, that's a studio for $2,795.

Next there's this chart from Morgan Stanley. It shows that San Francisco real estate prices are up ~50% since the trough of the housing recession.

Finally, here's a chart from FRED that shows SF real estate prices are climbing quickly, but have not yet reach their housing bubble peak:

Maybe you're the kind of person who sees data like that and thinks: How can I get into San Francisco's house-flipping, rent-gouging market?

Until recently, the answer to that question was: Not without a lot of cash.

It used to be that if an investor wanted in the San Francisco real estate market, that investor would have to have at least a few hundred thousand dollars around for a down payment.

Not anymore.

Thanks to the JOBS Act and a new Kickstarter-like website called Tycoon Real Estate, people with a few thousand dollars in savings can now invest in flipping houses the way only millionaires used to be able to.

Here's how it works.

You go to TycoonRE.com and select your property from a graphical menu that looks like this:

Then you look at the property's full page, where Tycoon Real Estate lists the deal's terms and, on a scale from 1 to 5, estimates of the deal's risk and return.

If you like the deal, you click where it says "click here to invest."

Then you fill out a form, and a Tycoon Real Estate representative reaches out to you to close the deal within 24 hours.

You end up investing in a limited liability corporation that owns the property.

Investments can be as little as $1,000.

Tycoon Real Estate is a new company co-founded by Aaron McDaniel and Wen Wei. It's based in San Francisco, and that's where most of the properties listed are located.

McDaniel, the CEO, graduated from college about a decade ago and spent the first nine years of his career working for AT&T in sales and then business development. He was one of their youngest vice presidents.

He thought of the idea for Tycoon after the passing of the JOBS Act in 2012. The JOBS Act allows non-accredited investors to fund small private companies online. It also allows startups to solicit non-accredited investors for funding.

The reason that kind of activity used to be banned is that investing in small private companies is very risky. It's risky for two reasons: One reason is that small private companies often fail, the other reason is that small private companies do not disclose their financials, and that can lead to problems of information asymmetry and fraud.

McDaniel wants investors on his platform to know that the investments on his site do have risk. 

“I think anyone who steps out and says this is risk free is full of bs and is lying," he told us during a phone interview.

McDaniel says he's trying to combat information asymmetry on the platform by requiring third parties who are listing properties to provide a standardized set of details about their deals. He also says that ultimately the site will create a market, and the market will punish bad actors and poor dealmakers.

Tycoon Real Estate is still pretty small, with just a few dozen deals available on it right now.

If it gets big and starts funneling even more capital into the San Francisco real estate market, all those people throwing rocks at Google buses and whining about rents are certainly going to come after the startup, accusing it of fueling an already dangerous bubble.

Afterall, San Francisco is already, according to one study, "the least affordable housing market in the U.S."– with just 14% of inventory in a price range middle class incomes can afford.

McDaniel hopes people will see that his site could also be a force for cheaper real estate. He hopes, for example, that investors will eventually use the platform to fund the kind of lower-income housing projects the governments of San Francisco, California, and the United States will administer, but not fund themselves.

The point of Tycoon, he says, it be an "inclusion thing — to allow people to be part of something that only a small few were allowed to."

Join the conversation about this story »

After Seagram billionaire Edgar Bronfman Sr. passed away, the family listed his penthouse at 960 Fifth Avenue for $65 million in February, The Wall Street Journal reported. 

But it wasn't until recently that Brown Harris Stevens, the firm handling the sale, released interior photos of the 16-room property, according to Curbed NY. Bronfman, who sold his family's spirits empire for $34 billion in 2000, had lived in the prewar co-op for the past 40 years. The full-floor residence has five bedrooms, eight and a half baths, a library and a wrap-around terrace.   

The official listing comes on the heels of Bronfman's younger brother Charles selling his own Fifth Avenue apartment a few blocks south.

The decor in Bronfman's penthouse is somewhat outdated.

He and his family had lived there for 40 years.

The color palette in the 16-room apartment is reminiscent of the 1970s.

But the penthouse still maintains the architectural details common in a prewar building.

The formal dining room has a classical layout.

The apartment offers sprawling views of Central Park.

The wrap-around terrace got a lot of praise when the floor plan was released ahead of the interior photos.

SEE ALSO: Seagram Billionaire Charles Bronfman Sells His Fifth Avenue Flat For $19.9 Million

FOLLOW US! Check Out The Lifestyle Section On Facebook

Join the conversation about this story »

Los Angeles, with its swanky neighborhoods and gated mansions, has always been an expensive place to buy real estate.

Home prices in the county grew a whopping 16.75% between January 2013 and January 2014, according to real estate intelligence firm DataQuick. 

Some Los Angeles houses, however, are in a league of their own. The experts at Point2 Homes helped us come up a list of the most expensive mansions for sale in LA county. We also looked at listings from The Agency, Sotheby's International Realty, and Christie's International Realty to compile this list. 

In addition to the desirable zip code, millions of dollars in Los Angeles will buy you a pool and other outdoor amenities, a nice plot of land and beautiful surrounding views.

Buy a modern mansion on Paradise Cove.

Address: 27960 Pacific Coast Highway, Malibu, CA 90265

Price: $27.5 million

This 6,500-square-foot home provides ocean views of the Paradise Cove beach through its large glass front. The home has bamboo floors and a deck that leads directly to the beach.

This is a classic mansion for a prominent family.

Address: 385 Copa De Oro Road, Los Angeles, CA 90077

Price: $27.5 million

This 10,500-square-foot home sits on 1.1 acres of gated property. It's designed with an eye for grandeur, including a two-story entry with curved staircase.

Live in the estate built for Bob Hope.

Address: 10346 Moorpark Street, Los Angeles, CA 91602 

Price: $27.5 million

Called the Hope Estate, this mansion sits on 5.16 acres surrounding Toluca Lake. The property includes a guest house and staff quarters plus a one-hole golf course. It was originally built for the comedian Bob Hope.

After selling New York City's first $100 million townhouse to the nation of Qatar, the A Team — a real estate group headed by brothers Tal and Oren Alexander from Douglas Elliman Real Estate — have another impressive listing on display.

This time, the brothers are representing fertilizer billionaire Alexander Rovt, who's not only selling his Upper East Side townhouse, but a Phantom Rolls-Royce to go along with it, according to the New York Post.

The Rolls-Royce was actually added to the property by the brokers, not the seller, Tal Alexander told Business Insider. It draws extra attention to the fact that the townhouse comes with a private garage, which is rare. 

"This house is going to cater to a Chinese or Middle Eastern buyer," Alexander said. "We know that the Phantom is an attractive car to that type of buyer."

The property spans 25 feet, putting it on the wider end of the city's townhouses. It has five outdoor spaces, including a rooftop patio. The five-bedroom, eight-bathroom home recently underwent renovations that took five years to complete, and now comes with a pool and jacuzzi in the basement.

The home and car are on the market for a total of $25 million.

The Upper East Side townhouse has a width of 25 feet, putting it on the spacious end of New York City's townhouses.

The house has 11,400 square feet with ceiling heights between 12 and 14 feet.

The home features an ornate staircase in the foyer as well as an elevator.

The Hamptons summer season stretches just 14 weeks from Memorial Day to Labor Day, but renters can spend some serious dough in that brief period.

While many Hamptons rentals cost six figures or more for a summer, some take it to another level.

This home, a 12-bedroom Southampton estate on 10 acres with an indoor pool and grass tennis court, is one example.

It was initially listed for $1.3 million for Memorial Day to Labor Day, making it the priciest rental out east. But even with a price cut to $950,000, it's still one of the most expensive Hamptons houses still available. Michaela Keszler at Douglas Elliman is handling the rental.

This $950/summer rental sits on 10 acres in Southampton Village, the oldest English settlement in the state of New York.

The house has 18,000 square feet of space.

It was originally built in 1915, but recently underwent extensive interior renovations.

Just over a year after he bought Elvis Presley's old Beverly Hills mansion for $9.8 million, Hard Rock Cafe founder Peter Morton has flipped the property for a tidy profit, according to real estate blogger The Real Estalker.

The home reportedly sold off-the-market to a corporate entity for $14.5 million. Morton was rumored to be tearing down the historic home, but it seems that those plans never panned out. 

The home, which has four bedrooms, five bathrooms, and spans 5,367 square feet, sold to Morton in December 2012 for significantly less than the initial $12.995 million asking price.

The gated property sits on 1.18 acres of land, with stunning views of Los Angeles from the backyard. Morton is a bit of a real estate buff, with another home in Holmby Hills and a mini-compound on Carbon Beach in Malibu.

Welcome to Hillcrest Road.

The house was built in 1958.

About $1.836 million worth of improvements went into the home in 2010, according to the Los Angeles County Tax Assessor website.

If you're currently living in a place where the rent is too damn high, we may have just found your next neighborhood.

According to apartment-finding website Apartment Guide, the Florence – Muscle Shoals area of Alabama, home of the University of North Alabama, has the cheapest rent in the country.

Apartment Guide tracked the average cheapest rent price for every apartment community in the U.S. on February 15 and found the median price for each area, meaning it took the price of each apartment community's least expensive floor plan and averaged them for each Core Based Statistical Area (CBSA).

These 10 cities made the list, with median monthly rents for apartments in the areas:

1. Florence – Muscle Shoals, AL ($395)

2. Decatur, AL ($420)

3. Fayetteville – Springdale – Rogers, AR/MO ($438)

4. Fort Smith, AR/OK ($460)

5. Statesboro, GA ($468)

6. Springfield, MO ($475)

7. Huntsville, TX ($480)

8. Greenville, NC ($485)

9. Huntsville, AL ($490)

10. [TIE] Johnson City, TN and Wichita, KS ($495)

Hover over the interactive map to see all the regions included in Apartment Guide's results, or visit Apartment Guide for the full report.

You can see where the most expensive places to rent in the U.S. are by clicking here.

SEE ALSO: The Most Expensive Places To Rent An Apartment In The US

NEVER MISS A BEAT: Follow Business Insider on Instagram

Join the conversation about this story »

'Concrete Gold' is the best phrase we've heard today. From the morning email of SocGen's Kit Juckes.

The most challenging piece in this morning's FT though is the one about Germany's property rush, which is based on concrete gold according to Claire Jones. Sebastien Galy and I have both written about the property boom in Germany before, and it is gathering steam. Frankfurt's population is growing rapidly. I can't help thinking that for Germany, Fed policy has delivered rates that are too low. Indeed, while overall Europe has monetary policy that is far too tight and an excess of savings that will continue to threaten deflation, the overvaluation of the Euro is a bigger problem than the level of rates. So is the de-leveraging of the banking system which prevents those rates being available to most borrowers (outside Frankfurt).

The article referred to is here.

For Germans these days, some things that do not glitter are gold. A property boom across the biggest cities has been dubbed a betongold – literally concrete gold – rush.

In Frankfurt’s well-heeled Westend, Michael Stegerwald has been selling kitchens for two decades. Last year was his most successful yet.

The German property boom certainly gives the Bundesbank concerns. And it's a story repeated all over the world (Frankfurt, London, Vancouver etc.). There's been talk about property in premier cities as being a new "reserve concerncy") but "Concrete Gold" or betongold is much niser.

Join the conversation about this story »

When looking for a home, there are a lot of factors to consider. And if you're looking to rent one while raising a family — well that's a whole different story. 

Rent.com has compiled a list of the best cities to rent if it's you plus two, or three, or eight.

Some of the factors the website looked at were average household income, average rent, crime rate, test scores at schools, population of other families, and the amount of properties to rent.

Here are the top 15 cities for renters raising a family:

1. Livingston, NJ

Median Household Income: $134,358

2BR Median Rent: $2,338

Total Crime Risk: 4

Great School Rate: 9

2. Ladera Ranch, CA

Median Household Income: $135, 147

2BR Median Rent: $1,793

Total Crime Risk: 13

Great School Rate: 9.3

3. Tenafly, NJ

Median Household Income: $133,401

2BR Median Rent: $1,855

Total Crime Risk: 18

Great School Rate: 9.5

4. Milburn, NJ

Median Household Income: $171, 968

2BR Median Rent: $1,800

Total Crime Risk: 4

Great School Rate: 9

5. Yorba Linda, CA

Median Household Income: $116,806

2BR Median Rent: $1,574

Total Crime Risk: 27

Great School Rate: 8.8

6. Darien, CT

Median Household Income: $183, 743

2BR Median Rent: $3,590

Total Crime Risk:

Great School Rate: 

7. El Dorado Hills, CA

Median Household Income: $118, 148

2BR Median Rent: $1,339

Total Crime Risk: 27

Great School Rate: 9.5

8. Evans, GA

Median Household Income: $95,454

2BR Median Rent: $2,251

Total Crime Risk: 22

Great School Rate: 9.2

9. Ridgewood, NJ

Median Household Income: $146,748

2BR Median Rent: $2,015

Total Crime Risk: 21

Great School Rate: 8.8

10. Mt. Juliet, TN

Median Household Income: $71,999

2BR Median Rent: $981

Total Crime Risk: 16

Great School Rate: 9.5

11. Westfield, NJ

Median Household Income: $130,615

2BR Median Rent: $1,743

Total Crime Risk: 28

Great School Rate: 9

12. Wilton, CT

Median Household Income: $161,088

2BR Median Rent: $3,383

Total Crime Risk: 4

Great School Rate: 9.5

13. Rancho Palos Verdes, CA

Median Household Income: $101,010

2BR Median Rent: $2,357

Total Crime Risk: 25

Great School Rate: 9

14. Los Altos, CA

Median Household Income: $132,933

2BR Median Rent: $2,813

Total Crime Risk: 26

Great School Rate: 9.7

15. New Providence, NJ

Median Household Income: $103,562

2BR Median Rent: $1,688

Total Crime Risk: 16

Great School Rate: 9

SEE ALSO: Here's How Much Real Estate A Million Dollars Buys You In Every Major US City

FOLLOW US: On Pinterest

Join the conversation about this story »

Billy Joel is having an impossible time selling his beautiful Hamptons home. The Piano Man just reduced the price on it from $23.5 million to a mere $22.9 million, Curbed reports.

This isn't the first time Joel's Sagaponack house has been on the market. In 2009, the price was cut from $22.9 million to $16.75 million before it was relisted. The home resurfaced again last November.

The house includes a beachfront view, piano room, and a separate studio situated in the fifth most expensive zip code in the country.

You can see the full listing here. 

This is the view as you enter through the wooden gate.

You can gaze off the patio and look at your 145 feet of oceanfront property.

The home has classic Hamptons shingles.

For the first time in a few days I opened the app Secret, where people can post anonymous confessions.

The top two postings were, I think, a pretty good snapshot of the state of angst in New York and San Francisco: REAL ESTATE.

NOW WATCH: We Did The Math: Should You Buy Or Rent In These Major Cities?

NOW WATCH: Here's How Much Soda You Have To Drink To Break Even On Your SodaStream

Join the conversation about this story »

Fifteen Central Park West — the massive, limestone-covered ultra-luxury apartment building on the edge of Columbus Circle — has become an icon on the skyline of Manhattan's West Side and a star of city gossip and real-estate columns.

The building has been in existence for less than a decade, but its roster of current and former residents is a who's who of titans from the worlds of finance, real estate, retail, and entertainment, from Goldman Sachs CEO Lloyd Blankfein to Yankees star Alex Rodriguez.

In a new book, "House of Outrageous Fortune," Michael Gross goes behind the scenes to tell the complete story of Fifteen, as it's affectionately known. From the building's inception in the minds of developers Arthur and William Lie Zeckendorf to the battle over its unusual facade to the sparring among its strong-headed tenants, Gross makes the case that the building is deserving of its description as the world's most powerful address.

Anyone fascinated by the history of luxury real estate in New York City — or the lives of the city's richest and most powerful people — should find the time to read Gross' book. We pulled out some of the most outrageous facts, figures, and records set by 15CPW.

1. Five developers were invited to bid on the lot at West 61st Street and Central Park West. The Zeckendorfs won the property with a bid of $401,050,000 — more than twice the going rate for land in Manhattan at the time.2. The building broke records even before construction could start. A final holdout tenant from the hotel that previously occupied the land was eventually paid about $17 million to vacate, according to a source. It's likely the highest price ever paid to relocate a tenant in New York.

3. The developers spent an incredible sum on the property, anticipating sky-high returns. All told, "they'd paid about $690 per buildable square foot for the land, they spent about $750 per square foot on their 886,000-square-foot two-tower behemoth," Gross writes.4. The lowest price for a unit at 15CPW in the initial 2005 offering was $1.78 million, far above the $1.479 million average price for a Manhattan condo at the time. The priciest condo was initially listed for $41.25 million (it would later resell for far more).

5. Servants' quarters were initially listed for between $650,000 and $1.74 million, and storage units for $35,000. The building's 30 wine cellars ranged from $50,000 to $80,000.6. Goldman Sachs CEO Lloyd Blankfein was among the first people to buy an apartment at 15CPW. His duplex was priced at $29 million, but he paid just $25.73 million, a significant discount, according to Gross. Eight other former and present "Goldman bigwigs" were among the building's first purchasers, and musician Sting later took the apartment next door to Blankfein's.

7. Hedge-fund tycoon Daniel Loeb set an early record at Fifteen, "dropping $45 million for his penthouse in what was then a hole in the ground," Gross writes. He famously outbid investor Carl Icahn for the then nonexistent pad.8. 15CPW has also been nicknamed "hedgie hive," with residents representing some 36 hedge funds. Gross estimates that the aggregate assets managed by hedge funds and boutique investment firms whose executives own or rent at 15CPW amounts to $437 billion. 

9. Shortly after stepping down as CEO of Citi, Sandy Weill spent $43.69 million on the biggest apartment at Fifteen. According to a source, he surprised his wife with the penthouse on Valentine's Day.10. Actor Denzel Washington's purchase of a $13 million apartment coincided with a major milestone for the developers — passing the billion-dollar mark in sales. They held a "Billion Dollar Bash" to celebrate, Gross writes.

11. Spanx founder Sara Blakely claimed to be so terrified of heights living in her 37th-floor apartment that she and her husband, Marquis Jet's founder Jesse Itzler, hired a former Navy SEAL to suggest emergency escape plans. Another SEAL later moved in with them to give them cardio workouts, according to Gross.12. Russian potash tycoon Dmitry Rybolovlev made headlines when he bought the Weills' penthouse for $88 million in 2011, ostensibly for his 22-year-old daughter. But it wasn't his first offer at Fifteen: Rybolovlev offered $75 million for another penthouse in 2008, but the owner got cold feet and decided not to sell.

13. Speaking of Rybolovlev's record-setting penthouse: According to Gross, aside from a few short stays at the end of 2012, Ekaterina Rybolovleva never used the apartment, preferring to spend time in Monaco.14. In 2009, 54 people were on Fifteen's payroll, including seven concierges and eight white-gloved lobby attendants.

15. Employees of 15CPW can make bank during "tip season." In 2011, a typical staffer made $22,500 during the holidays, and one employee told Gross he thought the building's resident manager made $600,000 before tips.

"House of Outrageous Fortune" is available for purchase here.

SEE ALSO: Meet The Big Shots Who Live At 15 Central Park West

FOLLOW US! We're On Instagram

Join the conversation about this story »

Keeping up with the Joneses on Park Avenue must be exhausting.

More details have emerged about a new residential building at 520 Park Avenue on the Upper East Side, whose plans include "triplex" penthouse that will cost "considerably more than $100 million," a source told The Wall Street Journal.

The 51-story condominium will include 30 additional units with asking prices starting at $27 million. The building will also house a two-story health club featuring an exercise room, pool and locker rooms, a 1,800-square-foot ground floor garden, a wine cellar, and a library.

“520 Park Avenue will set a new standard for elegant design on Manhattan’s Upper East Side, and we are certain this luxury residential building will become a landmark in a treasured city neighborhood,” said developer William L. Zeckendorf. 

The building is just the latest in a string of trophy properties for Zeckendorf Development Group, who have been spinning New York real estate into gold for years. The Zeckendorf duo is behind 15 Central Park West, dubbed "the world's most powerful address," and a new ultra-luxury building on Gramercy Park. 

For their latest Park Ave. endeavor, they spent $30.4 million for air rights from the neighboring Christ Church in order to achieve their desired 51-story height. Robert A.M. Stern, the architect behind 15CPW, will also design 520 Park.

Construction is expected to be completed in early 2017. 

The building will join a corridor that's come to be known as "billionaire's row" and stretches from Broadway to Park Avenue, on and around 57th Street.

SEE ALSO: 23 Brilliant Proposals For Skyscrapers Of The Future

FOLLOW US: On Pinterest

Join the conversation about this story »

When it comes to the most luxurious apartments in top city centres, the only way is up.

At least that is the opinion of a number of property developers who are wooing the ultra wealthy with lavishly-appointed skyscrapers in the most prestigious of neighbourhoods, where large-scale lateral square footage is nearly impossible to find.

As well as being designed by top architects and interior designers, these luxury trophies have the added benefit of being zero-maintenance, turnkey properties.

“Wealthy buyers want convenience,” said Joanna Leverett, head of international new developments at Savills. “Flagship developments provide services and facilities such as spas, wellness and restaurants that you wouldn’t normally get in a house, all within walking distance to the city’s restaurants and culture instead of being out in the sticks.”

This type of apartment is easier on the rent and resale market too, said Edward de Mallet Morgan, head of super prime international property at Knight Frank. “More owners are renting out their properties where there is a good management, rental service or a concierge, as it is nice to have some income being generated to put towards annual running costs,” he said.

Here Wealth-X takes a look at the world’s ten most luxurious high rise apartment blocks for ultra high net worth (UHNW) individuals, as well as the UHNW developers behind them.

1. One Hyde Park, London, UK

Average Price Per Square Foot: US$9,906 (£6,000)

Penthouse: US$165 million (£100 million)

Trophy Credentials: The signature development of the Candy Brothers, One Hyde Park is arguably London’s most hotly-discussed residential buildings. Although the most expensive penthouse was initially rumoured to have sold for over £100 million (US$165.3 million) in 2010, reports quoting the Land Registry put the actual price nearer to £40 million (US$66.1 million). Christian Candy is listed as an owner, along with financial backer Sheik Hamad bin Jassim bin Jaber Al Thani. There’s plenty to keep residents entertained, including the golf-simulator, private cinema and squash court. With architectural design by the pre-eminent Roger Stirk Harbour + Partners, Candy & Candy did the interiors and Mandarin Oriental Hotel group runs the concierge.

Agents: Savills, Aylesford, Strutt & Parker

2. 432 Park Avenue, New York, US

Average Price Per Square Foot: US$6,742

Penthouse: US$95 million

Trophy Credentials: Designed by acclaimed architect Rafael Viñoly with interiors by Deborah Berke, 432 Park Avenue in mid-town Manhattan is expected to be the pinnacle of cool. Due for completion in 2015, 432 will be the second tallest residential building in New York and the brainchild of US property tycoon, Harry Macklowe. The private residents-only restaurant is designed by Bentel & Bentel and will have an adjacent outdoor terrace above 57th street to accommodate 300 guests. The penthouse will have six bedrooms, seven bathrooms and a library. Other amenities include a wine cellar, a 75-foot indoor swimming pool and a spa and fitness centre.

Agent: Savills

3. One57, New York, US

Average Price Per Square Foot: US$6,000

Penthouse: US$90 million (sold in 2012)

Trophy Credentials: A neighbour to 432, developed by Gary Barnett’s Extell, this super-tall development on 57th Street claims to be a vertical billionaire’s row. Rising 1,004 feet tall over Midtown Manhattan it is the tallest residential building in New York. There are 95 condos with amenities including a yoga studio, an arts and crafts atelier room and a pet grooming room. French Pritzker Prize-winning architect Christian de Portzamparc envisioned the project, while Thomas Juul-Hansen did the interiors. The flagship Park Hyatt New York and its health club and spa at the base of the building will be opening this summer, designed by interior designers Yabu Pushelburg.

Agent: One57

4. South Bank Tower, London, UK

Average Price Per Square Foot: US$3,300 (£2,000)

Penthouse: US$90 million, asking price (£55 million)

Trophy Credentials: South Bank Tower was originally a 30-storey structure designed by Sir Richard Seifert in 1972. It was recently acquired by developer CIT and redesigned by Kohn Pedersen Fox Associates with interior design from Johnson Naylor, turning it into a 41-storey building of 191 luxury apartment and office space. The building is on the River Thames and overlooks the London Eye and the city beyond. The penthouse will be a triplex with two roof terraces, due for completion in 2015.

Agents: Savills and CBRE

5. Tour Odéon, Monaco

Average Price Per Square Foot: US$8,900

Top Apartment: US$65.7 million (€47.7 million)

Trophy Credentials: At over 550 feet, Tour Odeon will be the tallest building in Monaco, overlooking the entire principality and the Mediterranean sea. The double tower is due for completion in the second quarter of this year, including 70 luxury apartments with floor-to-ceiling windows. Belle Epoque architect Alexandre Giraldi and Monegasque family-run developer Groupe Marzocco (headed by Claudio Marzocco) collaborated on the creation of the landmark, bringing in designer Alberto Pinto for the interiors and Jean Mus to create the gardens. The “Sky Penthouse” of over 35,500 square feet will occupy the top five floors of the building, and there are rumours of a water-slide flowing directly into a private infinity pool. Although the price of the penthouse has yet to be revealed, reports put it as high as US$387 million, which would make it the most expensive apartment in the world.

Agent: Knight Frank

6. Opus Hong Kong, Hong Kong

Average Price Per Square Foot: US$10,740 (HK$83,400)

Top Published Price: US$58.6 million (HK$455 million)

Trophy Credentials: Pritzker-winning Canadian architect Frank Gehry designed the 12-story Opus development, his first residential project in Asia. Located at the desirable 53 Stubbs Road on the Peak, the eighth floor apartment has already broken records as the most expensive ever sold in the city. Amenities include rainwater recycling for irrigation and electric car charge systems. However, the project has been temporarily derailed by Hong Kong’s property cooling measures introduced last year, including strict requirements on sales of first-hand property. So for now, Opus is only available to rent.

Agent: Swire Properties

7. 56 Leonard, New York, US

Average Price Per Square Foot: US$6,000

Penthouse: US$47 million

Trophy Credentials: This Herzog & de Meuron-designed tower in trendy Tribeca is almost entirely made from cantilevered glass, offering fantastic views of the city through floor-to-ceiling windows. The penthouse is under contract for $47 million, making it one of the most expensive residences to ever be sold in  downtown Manhattan. There is an Anish Kapoor sculpture at the base of the building, a 25-seater cinema and a 75-foot lap pool inside.

Agent: Corcoran Sunshine Marketing Group

8. Clermont Residence, Singapore

Average Price Per Square Foot:  US$2,360 (S$3,000)

Penthouse: US$47 million (S$60 million)

Trophy Credentials: Clermont Residence is perched atop the 290-metre-high Tanjong Pagar Centre – Singapore’s tallest building.  Skidmore, Owings and Merrill, the architects behind the Burj Khalifa and One World Trade Centre in New York, designed the iconic building. Due for completion in 2016, there will be 180 apartments including the 14,500-square-foot penthouse, which will have its own private lift. Located at Peck Seah Street, residents will be on the doorstep of Singapore’s prestigious CBD. The project is being run by Guocoland, the developer owned by Malaysian billionaire Quek Leng Chan.

Agent: Savills

9. One Thousand Museum Condos, Miami, US

Average Price Per Square Foot: US$1,100

Penthouse: US$45 million

Trophy Credentials: Designed by Zaha Hadid, this incredible building on 1000 Biscayne Boulevard has got all of Miami abuzz. Billed as “creating a six star lifestyle”, the amenities include two floors of wellness and spa facilities, a sunbathing terrace overlooking the Miami skyline and a private helipad. And if you still needed convincing, all the interior spaces have bespoke “building scenting” with perfumes designed by olfactory consultants 12.29. The building’s developers are Gregg Covin and Louis Birdman and it is due to be completed in 2018.

Agent: Savills

10. One Madison, New York, US

Average Price Per Square Foot:  US$5,000

Penthouse: US$43 million

Located on East 23rd Street, this slender 60-storey glass tower already has some celebrity residents including Tom Brady and Giselle Bündchen. Rupert Murdoch, the newly-single billionaire owner of NewsCorp, spent a total of US$57 million buying the top four floors of the building after he combined the triplex penthouse and the apartment below. One Madison has 53 units with amenities including an indoor pool with marble walls and butler service.

Agent: The Related Companies

SEE ALSO: 23 Brilliant Proposals For Skyscrapers Of The Future

Join the conversation about this story »

The experts at the real estate listing site Estately helped us find the 25 most architecturally stunning homes on the market right now.

These one-of-a-kind residences are industry-renowned for their unconventional shapes, integration of the outdoors, diverse construction materials, whimsy, and aesthetic.

From a celebrity-owned home that resembles the Flinstones' Bedrock property to a modern estate with its own moat, any one of these private mansions could be yours.

Have $39 million to spare?

The one-of-a-kind dome on this Frank Gehry beachfront home looks like a thatched roof.

Address:31250 Broad Beach Road, Malibu, CA

Price: $57.5 million

An 11,000-square-foot oceanfront masterpiece features 160 feet of beach, a full-sized lighted tennis court, and a lap pool.

Source: Estately

This Florida home has its own moat.

Address:1236 Biscaya Dr., Surfside, FL

Price: $6.8 million

The modern beachfront home has wide bay windows, a water moat surrounding the courtyard, and a dock on Normandy Beach.

Source: Estately

Inspired by Gaudí, locals call this home "The Rockhouse."

Address:31107 Coast Highway, Laguna Beach, CA

Price: $15 million

Embedded within Aliso Rock, this South Laguna home has a genuine stone facade and resembles a pearl embedded within a life-size abalone shell.

Source: Estately

After a spectacular five-year run, global real estate stocks look headed for a period of more normal returns. We think winning in this space will require a more  discriminating eye—and venturing into the often neglected nooks and crannies of the smaller-cap real estate world.

Real estate stocks are a multifaceted bunch, spanning a variety of sub-industries, each with its own set of advantages and challenges. Yet the action in the space is dominated by a small band of very large stocks, which get a disproportionate share of Wall Street analyst coverage (Display 1) and are typically used as proxies for the entire asset class by investors seeking generous and stable yields, frequently via exchange-traded exchanges or other passive strategies.

This favoritism leaves a mass of small- and mid-cap (or SMID-cap) real estate stocks flying under the radar and trading at lower valuations than the big names, many times despite similar or better operational health and growth prospects.  This is fertile hunting ground for nimble stock pickers who do their homework and are familiar with the neighborhood.

Indeed, since 1992, SMID-cap real estate stocks have collectively delivered higher returns than their large-cap peers, with less volatility, resulting in superior risk-adjusted returns, as measured by Sharpe ratios (Display 2). Unsurprisingly, much of this alpha potential stems from investors’ general indifference. Because SMID stocks are underfollowed and often misunderstood, they tend to get hit harder than their larger, more liquid counterparts when faced with near-term controversy, which often creates opportunity.

Many active strategies use large, high-profile names to express their country or sector preferences, which can be significant performance drivers. Larger stocks have the liquidity needed to quickly increase or decrease portfolio exposures. But by limiting exposures to just the biggest names in the category, investors forgo the potentially bigger payoffs in many of the smaller real estate stocks, which tend to be influenced more by company-specific catalysts.

US lodging stocks offer a prime example. A single company (Host Hotels & Resorts) accounted for roughly 40% of the US lodging market capitalization of $37.2 billion at year-end 2013. Of the remaining 11 US lodging stocks in the global benchmark, nine had a market cap of less than $3 billion, while two had market caps in the $3 billion to $4 billion range. Propelled by the US economic recovery, rising occupancy rates and limited room supply growth, US lodging stocks strongly outperformed both the US and global real estate indices.

Clearly, an overweight in Host Hotels alone would have been rewarding. But why miss out on even stronger returns enjoyed by smaller lodging players, many of which rose on both favorable industry trends and growing investor recognition of their individual competitive strengths?  Take RLJ Lodging Trust, which entered 2013 trading at a significant discount to peers, as investors sought safer accommodations in rivals with premium properties in prime gateway cities such as New York and San Francisco. Though it lacked a presence in gateway cities, RLJ was also nearing the completion of renovations at many of its hotel properties, setting the stage for a dramatic surge in cash flows. As the company’s financial improvement became increasingly apparent, the stock soared, outperforming Host Hotels.  

SMID caps also allow active managers to stay in the game and add value even when country or sector opportunities aren’t particularly provocative. So, when searching for alpha potential in real estate stocks, don’t forget to scour the smaller neighborhoods.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AllianceBernstein portfolio managers.

Join the conversation about this story »

New York City has long been considered the playground of America's millionaires and billionaires. But as many of the city's high earners start families and seek more space, they move out to the suburbs surrounding the city.

Stephen Higley, a professor emeritus of urban social geography at the University of Montevallo, recently ranked the richest neighborhoods in the U.S. based on American Community Survey 2006 - 2010 data.

He aggregated contiguous block groups (subdivisions of Census tracts) with a mean income over $200,000. You can read his complete methodology here.

These are the wealthiest neighborhoods in the suburbs outside of New York City — Westchester County, Long Island, Connecticut, and New Jersey. 

SEE ALSO: Should You Buy Or Rent In NYC?

#25 Talmadge Hill in New Canaan, Conn.

Mean household income: $381,648

75th richest neighborhood in the U.S.

Talmadge Hill is made up of relatively large homes, and is considered a great neighborhood for families in New Canaan. The school system is also considered top-notch.   

Talmadge Hill is 0.3% Black, 3.2% Asian, 1.5% Latino and 93.9% Non-Hispanic White. 

Sources: Higley 1000, city-data.com, neighborhoodscout.com

#24 Sunny Ridge-Highfield in Harrison, N.Y., Westchester County

Mean household income: $382,054

74th richest neighborhood in the U.S.

Sunny Ridge-Highfield is part of the southern half of Harrison, N.Y., and is the home of Harrison High School.

A big part of the culture in town is an annual football game between Harrison and Rye high schools. The friendly rivalry between the towns dates back to the end of the 17th century. According to local lore, John Harrison purchased a plot of land from the Siwanoy Native Americans that two residents of the neighboring town of Rye had already claimed.    

Sunny Ridge-Highfield is 90.7% white, 2.2% Asian, 4.2% Latino, 0.5% black

Sources: Higley 1000, city-data.com, neighborhoodscout.com

#23 Oyster Bay Cove in Long Island, N.Y.

Mean household income: $385,230

68th richest neighborhood in the U.S.

The village of Oyster Bay Cove was founded in 1931. Many of its current residents make a living in jobs involving computers and math. Italian, Irish and Russian ancestries are common.

The area is known for its wildlife, and is less congested than other places on Long Island. It sits next to Sagamore Hill in Cove Neck, which was the home of Theodore Roosevelt from 1885 until his death. 

Oyster Bay Cove is 86.9% white, 8.5% Asian, 2.2% Latino, 1.5% black

Sources: Higley 1000, city-data.com, neighborhoodscout.com

MANHATTAN — House hunters should brace themselves for sticker shock — Manhattan real estate prices have hit a jaw-dropping average of $1,363 per square foot, according to a Douglas Elliman report released Tuesday.

With buyers competing for slim pickings in the first quarter of the year, sellers had the upper hand, pushing prices upward and often forcing speedy sales. 

The average sales price of Manhattan apartments spiked more than 30 percent over the past year to $1.774 million, the report said.

Median sales prices — which represent the midpoint of the market — set records for both co-ops (up 17 percent from the year before to $760,000) and condos (up 13 percent to $1.355 million), the Elliman report found.

“This is the highest price per foot in the 25 years I’ve been tracking the market,” said real estate expert Jonathan Miller, who authored the report.

“A big part of that is because we’ve had three years of declining inventory,” and though he said inventory is now “leveling off," the “chronic shortage is impacting pricing.”

Another factor pushing up prices was the rise of new developments, which represented roughly 16 percent of all sales in the first quarter, Miller explained.

The price for them reached $1,843 price per square foot, up nearly 38 percent from the year before, the Elliman report found.

“New development is skewing the overall metrics higher,” Miller said.

Sales in new high-end buildings like 737 Park Ave., for instance, helped boost the average apartment prices on the Upper East Side, according to a market report from Brown Harris Stevens, which found large East Side apartments — three-bedroom and up — averaged $6.23 million, up 57 percent from the previous year.

Still, across the board, Manhattan buyers are facing a challenging market in terms of their options and how long they can take to make decisions.

Though Miller’s report shows inventory remained flat from the year before, a report from the real estate search site Streeteasy found that inventory in the first quarter fell 13 percent from a year ago, marking its lowest level since the fourth quarter of 2007.

Homes remained on the market for an average of 89 days, the report found, which was the lowest average recorded since the site began tracking the data nearly 10 years ago.

“What we’re seeing is a discouraging trifecta for Manhattan buyers: higher prices, drastically lower inventory and higher interest rates, which is keeping some potential buyers out of the market,” StreetEasy data scientist Alan Lightfeldt said in a statement.

“We don’t expect these double-digit price increases to last much longer before sellers are unable to find willing and able buyers."

But he cautioned buyers, who will be looking in the busy spring season, to be prepared for a challenging road.

“You’ll need to act fast,” he said.

Miller also said the big price hikes were not “sustainable,” but he didn’t expect the market to dip as inventory will continue to remain tight.

“I think this was more of a jump to a plateau,” Miller said. “We’ve reset the bar in terms of pricing.”

SEE ALSO: The 25 Richest Neighborhoods In The New York City Suburbs

FOLLOW US: Business Insider Is On Instagram

Join the conversation about this story »

Check out the Instagram feed of 27-year-old real estate mogul Tal Alexander, and you'll see him and his brother Oren throwing up peace signs on camels in Doha, Qatar.

That's the nation they recently represented in the sale of a $100 million townhouse, the most expensive ever sold in New York City.

Scoot over to 26-year-old Oren's feed, and you'll find the Alexanders — who co-founded The Alexander Team at Douglas Elliman Real Estate two years ago — out to lunch on the slopes of Aspen, Colo., while The A Team's feed includes photos of their multimillion-dollar listings in Manhattan and Miami.

"On Instagram, we've sold two properties in the last six weeks just based on brokers following us," Tal told Business Insider.

The brothers' social-media savvy is a major shift from traditional real estate sales tactics. After they sold the most expensive mansion in Miami for $47 million in 2012, they tried to capitalize on the news by spending $20,000 on ads in in-flight magazines for business and first-class travelers. They didn't get a single phone call.

Social media has become a major marketing platform for the Alexanders, whose current listings include a $95 million apartment on the Upper East Side, a $58.5 million estate in the Hamptons, and a $49 million mansion in swanky Alpine, N.J.

They have personal and business accounts on Instagram, Facebook, and Twitter, with a combined following of about 25,000. Just as important as the exposure is the tone it sets for the brothers: They have fun doing their work.

"It has to be fun," Tal said. "These homes are some of the biggest transactions our buyers will ever make, especially if they're accumulating multiple properties and have a lot of their portfolio in real estate. It takes the edge off if it's fun. We can make it fun."

The Alexander philosophy has always been about selling a lifestyle, not just a property. In an interview last year, Oren told Business Insider he meets many of his wealthy clients — whom he likes to call friends — by living like they do. That means spending New Year's in St. Barts, going to the clubs they frequent, and even dressing like them.

They try to be well versed in the things their clients care about, said Tal, including art, planes, yachts, cars, and, of course, real estate. It helps that the Alexanders grew up in the world of luxury real estate. Their father, Shlomi Alexander, is a major developer in South Florida.

So far their strategy is paying off. Since selling the Qatar townhouse, they've fetched the highest prices per square foot for non-penthouse units at 102 Prince St. and Time Warner Center in New York City.

The brothers have a serious work ethic and are eager to build their team, often meeting with other brokers who can give them the scoop on properties that are not publicly listed.

On a typical workday, Tal said he gets to the gym in his suit and tie by 7:15 a.m. After a workout, he walks to Balthazar, a power-breakfast spot, for meetings with developers, clients, branding and creative directors, or his brother.

Tal gets to the office at 42nd and Madison by 9 for meetings with his seven-person team. Most brokers have cubicles, but they have a private office with walls covered in news coverage of their sales and pictures of their high-profile clients, including Middle Eastern royalty and tycoons. 

Then it's off to lunch for more meetings at Hatsuhana, a Midtown sushi joint, followed by showings through the afternoon. Every night, the brothers have dinner reservations to woo a new or existing client.

"Depending on the profile of the client, there may be a night on the town after that," Tal said.

The Alexanders should be looking at a lot of nights out on the town. They plan to expand their business to Aspen and farther into the Middle East.

NOW WATCH: We Figured Out Where It Makes Most Sense To Buy Or Rent

SEE ALSO: Why Young Real Estate Brokers Should Never Be Afraid To Split A Listing

FOLLOW US! Business Insider's On Instagram

Join the conversation about this story »