Luxury Real Estate

By Sunday A. Barbaro of PGH Marketing.

Wrightsville Beach, NC offers some of the most sought after waterfront property on the east coast. Sandy Overbeck has the perfect property for a buyer seeking the luxury of an architectural masterpiece. Nestled perfectly along the North Carolina Coast, the property includes ownership of an income producing marina and boat slips that provide easy entrance to the Atlantic Ocean. With 17 boat slips ranging in size from 25-60 feet, the marina guarantees to accommodate your special vessel.

Enjoy a 360 degree water view in this one-of-a-kind luxury home! Situated along the Intracoastal Waterway, 2 Marina Street provides a spacious 3200 square feet for living complete with 4 bedrooms, 3.5 baths, spacious custom kitchen, office, carport and a two car garage. Each bedroom has its own private balcony with beautiful views of the Intracoastal Waterway. The “A” frame family room gives this home a unique architectural appeal that is sure to entice even the most discriminating buyer.

Adjoining the main house is an additional 750 square foot condominium. The spacious condo has a private entrance including a master bedroom, 1.5 bathrooms and full kitchen and of course, spectacular views. Use this fabulous addition as a mother-in-law suite or a year-round rental property. Regardless of the usage, this property as a whole is an investment in one of the finest waterfront communities on the east coast. 2 Marina Street is noted as the “crème de le crème” of waterfront properties by celebrities, dignitaries and local boating enthusiasts. For a buyer seeking a truly unique property with endless opportunities, the home at 2 Marina Street will not disappoint.

For more information on this property, visit http://www.twomarinastreetnc.com/, E-Mail 2MarinaStreet@gmail.com or call 910-256-2825. Your personal boating paradise awaits you.

By: Matt Goyer

Courtesy of: Brian Langhorst of LuxuryRealEstate.com

(Seattle) December 14, 2009 ― Long-time Seattle developer R.C. Hedreen Company has received a crucial renewal of its construction loan for up to two years for Olive 8 through a $90 million loan syndication led by U.S. Bank. At a time when many regional projects are at a standstill and unable to secure financing, this loan renewal helps Olive 8 earn its distinction as an urban and sustainable condominium project that has been able to move forward as planned while continuing to be a desirable option for buyers.

Olive 8 is Seattle’s first Leadership in Energy and Environmental Design (LEED) Certified (Silver) hotel/condominium building. Hyatt at Olive 8 occupies the first 17 floors with another 22 floors of luxury condominiums above. Of the 229 condominium homes, 51 have closed. A wealth of new research indicates green building is forward-thinking, offers many long-term financial benefits and is an investment that pays off in terms of lower energy and water bills, as well as healthier indoor air.

R.C. Hedreen President David Thyer says, “As the developer, it’s not unexpected for us to think Olive 8 is unique and will hold its value in the long-term. But the extension of this loan syndication led by our long-time partner, U.S. Bank, reinforces our belief that this hotel/condominium combination in the heart of Seattle is a project with a strong future. We see it as a very positive sign in what has been a slow and challenging market.” Olive 8 was designed by the internationally acclaimed New York City firm Gluckman Mayner Architects in partnership with local architect, MulvannyG2.

Minneapolis-based U.S. Bank’s history of doing business with R.C. Hedreen dates back 15 years, with a variety of projects being financed over the years.

“We are proud to be involved with the construction of Olive 8, which shares our commitment to quality and environmentally-sound business practices that help sustain our resources and the environment,” says John Swanson, senior vice president in commercial real estate at U.S. Bank. “Also, this a shining example of the fact that U.S. Bank is a strong leader within the banking industry, and that we continue to make loans and provide financing to projects like Olive 8, even in this difficult economy.”

Due to its sustainable design and construction, which includes one of the largest green roofs in Seattle, Olive 8 is expected to use 23-percent less energy and 36-percent less water than a comparable non-green building. It is the first building in Seattle to participate in King County’s Transfer of Development Rights program; in exchange for higher building rights, R.C. Hedreen paid nearly one million dollars toward the preservation of 284 acres on Sugarloaf Mountain in rural King County, as well as vital salmon habitat. The carbon footprint of the Olive 8 building will soon be reduced by 21-percent when Seattle Steam Company, which provides heating for the hotel, will begin using mostly biomass as fuel instead of natural gas. Olive 8 also features preferred parking spaces for highly fuel-efficient vehicles and outlets for electric cars in the underground parking lot.

About Olive 8 Olive 8 is a 39-story luxury hotel/condominium building, with the lower 17 floors occupied by Hyatt at Olive 8 and 229 condominium homes on the top 22 floors. It is the first hotel/condominium building in Seattle to receive LEED Certification (Silver). The developer is R.C. Hedreen Company. Founded in Seattle in 1963, R.C. Hedreen has developed, owned and managed investment projects including hotels, retail, high-rise office buildings, and single and multi-family residences. In recent years, Hedreen has focused primarily on luxury hotels with a portfolio that includes the Grand Hyatt Seattle, Seattle Hilton Hotel and the Seattle Madison Renaissance Hotel. The local architect for Olive 8 is MulvannyG2 (previous partners with Hedreen on the Grand Hyatt Seattle) in collaboration with design architect Richard Gluckman of Gluckman Mayner Architects in New York City. Hedreen’s construction manager for the building was JTM Construction. Condominium sales are handled by Coldwell Banker Bain Builder Solutions. For more information, visit www.olive8.com.

About U.S. Bank U.S. Bancorp (NYSE: USB), with $265 billion in assets as of September 30, 2009, is the parent company of U.S. Bank, the sixth largest commercial bank in the United States. The company operates 3,002 banking offices in 25 states and 5,170 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.

By Michael Marquette
From his blog: Australia’s most expensive apartment SOLD in Potts Point

Potts Point in Sydney has achieved Australia’s record apartment price with a $20 million penthouse sale.

An undisclosed “prominent Sydney businessman” bought the apartment off-the-plan after the Sydney City Council approved the development on Monday.



The two-level penthouse, with views across Woolloomooloo Bay towards the central business district, Sydney Harbour and the Opera House, will have 530 square metres of internal space and 115 square metres of balcony.

The Wylde Street sale trumps an $18.2 million off-the-plan penthouse sale in East Melbourne and the $16.8 million Sydney record sale in Macquarie Street’s Bennelong block earlier this year.

The Ashington Group, chaired by mortgage broker Mark Bouris, bought the development site for $15.5 million last year, indicating it viewed Potts Point as one of the true urban villages of Sydney.

“The sale was a sign that buyers will act quickly for distinctive apartment product,” Ashington’s director, Craig Minahan, said yesterday.

The design by architects Tzannes Associates echoes the curved glazing and copper roofing in the neighbouring 1930s heritage-listed Wyldefel Gardens residential complex.

The nine apartments included in the development with the penthouse will have interiors by fashion designer Alex Perry.

Interestingly, the Australian newspaper incorrectly quoted the apartment as being in Point Piper, not Potts Point.


Editor’s Note:
Michael Marquette is the co-Founder and Director of Marquette Turner Luxury Homes, a member of Luxury Real Estate in East Sydney, New South Wales, Australia. Founded on Australia Day 2007 by Marquette and Simon Turner, Marquette Turner is a property consultancy company covering the Australian states of New South Wales and Victoria. Marquette has a background in medicine and a large retail and wholesale business. Marquette and Turner just can’t stop providing excellent content like this for the Luxury Real Estate Blog. People are still interested in purchasing luxury properties for the right price. Keep looking for good news and you’re sure to find it.

By Donna Sapolin
From her magazine article: Decorati Designer Feature: Robert Passal, Style Infusion

Welcome to a designer feature by Decorati, the online resource for high-end interior design. In this post, we are featuring New York-based interior designer Robert Passal, who has transformed this 2,200-square-foot apartment on Manhattan’s tony upper eastside. See below for some tips that you can use for staging your next home.

His mission: to diffuse the banality of new construction by administering a healthy dose of visual intrigue to heartily lived-in, white-box rooms devoid of interior architecture.

Designed for a couple with two infants, his furnishings plan shuns the sort of precious, hands-off quality that some elegant schemes engender and, instead, welcomes the thrills and spills of everyday life with wear-resistant surfaces and a few colors that politely refuse to show the (sometimes grubby) touch of human hands. Passal’s design concept focused on the creation of dimension and interest through geometry and texture.

LIVING ROOM:

“I use art lamps all over, even in unexpected places, like [in] a powder room over a toilet.”

Entrants to the living room are struck by a strong sense of interior architecture forged by the grid work frame of a Holly Hunt armchair, the x-shaped bottoms of two leather stools, the circular form of a brushed steel B & B Italia side table, and the rectangular shapes of a glass-topped copper Martha Sturdy coffee table and custom-designed cantilevered media cabinet.

DINING ROOM:

The geometric motifs extend to the dining room where a pair of Oly leather chairs and a custom banquette sidle up to an oak table supported by two trios of x-shaped legs. Passal painted the baseboards a deep chocolate tone and carried the color across the bottoms of the Belgian linen drapes, into the cotton velvet upholstery on the banquette and onto its stained base.

“Whenever I am short on surfaces in a room, I use the dining table for art – here, I placed a cast bronze sculpture under the fixture.”


Editor’s Note:
The full version of this article can be found in Decorati’s Access Magazine. Donna Sapolin has written a number of articles for this magazine, and they are definitely worth checking out. This looks like a great luxury property. Luxury Real Estate recently partnered with Decorati to share content between the two sites. You can find my “Hot Spots for Yachts” article from the spring 2008 issue of LuxuryRealEstate.com Magazine published on Decorati here. Very exciting!

By Jim Walberg
From his blog: Palmetto Bay Resort in Belize Continues To Feature “Green Development”

This boutique luxury resort on the Placentia Peninsula is a trendsetter when it comes to its “Green Features”!

Palmetto Bay Resort is one of the leaders of “green” Caribbean developments in Belize. This luxury resort has integrated into its design certain features that other developers are watching closely. Palmetto Bay Resort has carefully considered its impact on the environment from the earliest planning stages of its development. Some of the features they have implemented are:

- Geothermal cooling and heating technology.

- Solar power for outside illumination – pathways, water features, landscaping and the beach.

- Grey-water systems to recycle water.

- LED lighting that will reduce energy costs by as much as 80 percent.

- Indigenous species of plants, including fruit trees, in the landscaping.

- Cisterns to catch and store rain water and act as a renewable water supply for the saline pool, water features and landscaping.

- Strategically implemented wind power.

This gated project has plans for around 120 full-ownership condominiums. The initial phase that has just been released has 36 whole-ownership Caribbean beachfront condos starting in the low $300,000s US and they are currently the most sought-after resort luxury real estate for sale in Belize. It is just a short two-hour flight from Houston or Miami to Belize where there are no restrictions on foreign ownership of property or capital gains tax. This is a project you may want to put on your list for your piece of paradise! They even just announced a fly-in package for people who want to seriously consider this as their next tropical home.

OK… so how is this for a description of what Palmetto Bay Resort has created? As you walk into your Caribbean condo you first notice a wraparound veranda overlooking the turquoise-blue Caribbean Sea. What I immediately do is dump my watch and find my bathing suit. The temperature is around 85 degrees Fahrenheit with a delightful warm breeze, and I then head to mashed-potato coral sand. Then the stress really starts because a decision needs to made: sunbathe; snorkel, SCUBA dive; drink… because thirst is a dangerous thing; read; nap; eat; schedule a jungle tour checking out how many Toucans I can spot, and many more choices to consider. Here is the fun part – I get to do it ALL! My first task is to take out the cold beer in the fridge and head to a lounge waiting for me on the beach. All the rest of the remaining choices will show up in their proper order… actually, there is no proper order. This mindset is the way I get to “Caribbean Time” as fast as possible.

Here is more good news for those you intrigued about buying luxury property in Belize. Belize has made owning real estate very simple and easy with some of the most advantageous offshore investment legislation in the world. The official language in Belize is English, and the legal system is based on English common law. Belize has no capital gains tax, no inheritance, estate or probate taxes and no restrictions on foreign ownership of property. The ease of air travel to Belize from the U.S., Canada, and the U.K. is effortless compared to many of your choices for other tropical destinations.

Finally… you will discover a country of diversity! It has a very wide variety of ethnic backgrounds that live together in a marvelous melting pot, each adding to the cultural color of the next. Belizeans are some of the friendliest people in the world. They are a cross-pollination of cultures – ancient Mayan people, Spanish, British, African roots, Mexican, Chinese, Japanese, Lebanese and Indian influences, AND the official language is still English. This is one of the special Caribbean destinations that you will want to put on your “must-see” list. Let me know if you want more information about my favorite spots. Until next time… fair winds!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an exceptional blogger, as you can see by visiting his blogs, East Bay Real Estate and Caribbean Islands Realty, and reading his great blog entries like the one above. He is the master of fractionals and other luxury homes in the Bay Area and the Caribbean, and he always has a lot of great opportunities to share. Jim always has many awesome opportunities to share. He’s a great blogger, and I always learn a lot when I read his work. I just finished writing an editorial for the winter 2009 issue of LuxuryRealEstate.com Magazine on “green” luxury homes. It was a very educational experience, and I’m glad to see these properties becoming popular as energy prices increase dramatically.

By Meghan Barry

If you have ever visited the LuxuryRealEstate.com Headquarters in Seattle, near the historic Pike Place Market, you may have been to the rooftop deck on top of our building. A popular spot for staff gatherings and summertime lunches, this deck boasts expansive views of Puget Sound and Downtown Seattle. What a perfect place to view Fourth of July fireworks!

In-city living often has its limitation with access to the outdoors. However, on LuxuryRealEstate.com there seems to be ample opportunities to purchase a home with the convenience of a metropolitan location, yet with a ground-floor garden, multilevel terraces, or rooftop decks.

This is an appealing option on New York City, listed by Stribling & Associates, Ltd., in the heart of Chelsea’s gallery district. Looks like the perfect place for a hip Fourth of July barbecue.

www.luxuryrealestate.com/749432


Or this one in Boston, listed by Hammond Residential GMAC Real Estate. You can almost hear the fireworks… and the drum beating of Minutemen.

www.luxuryrealestate.com/869190


A 2005 Recipient of The Carolopolis Award for New Construction, this home has maintained that quintessential Charleston style, with a modern updates. What a stunning view! It’s listed by Disher, Hamrick & Myers.

www.luxuryrealestate.com/610485


Editor’s Note:
Meghan Barry is the Executive Vice President of LuxuryRealEstate.com. She works closely with CEO/Publisher John Brian Losh to organize a variety of Luxury Real Estate programs, events and services. Each of the brokers who represent the properties in this blog entry is a member of the Board of Regents, the governing body of LuxuryRealEstate.com. There are plenty of ways to enjoy the Fourth of July, and hopefully you’ll have a great holiday.

By Jim Walberg

From his blog: Caribbean Islands Real Estate Developments Continues to Focus on Belize!

The Placencia Peninsula, an 11-mile strip of land sandwiched between the Caribbean Sea and the Placencia Lagoon in Belize, has beautiful white sandy beaches and – because of its distance from the reef – it also has “real” surf. The water is clean and clear; the trade winds gentle and cooling.

Remember that Belize has a stirring and lively history beginning in 200 B.C. with the ancient Mayans. In the 17th century Spain settled the country. It then survived war, piracy and slavery until being declared a British colony – British Honduras – in 1871. It gained self-government in 1964, chose the name Belize in 1973 and became an independent member of the British Commonwealth in 1981.

The beaches along the Placencia Peninsula are dotted with small resorts that can easily arrange dive and snorkel trips to the reef, which is about 17 miles away. They can also arrange day trips to many small, idyllic cayes, such as Laughing Bird Caye, a mini-atoll that offers protected snorkeling and swimming, a white sand beach and many cooling palm trees (it even has hammocks!) Laughing Bird Caye is also a favorite camping site for reek kayakers who base their expeditions in Placencia. A hotel can also arrange deep-sea or reef fishing trips, or day sailing on a 57-foot catamaran.

Placencia, along with Ambergris Caye, are now two of the country’s main tourist destinations, and they are also well-visited by Belizeans from across the country on local holidays. You can get a delicious plate heaped with stewed chicken, rice and beans for about $4 USD. There are also several small gift shops, a post office and some night life. Nearby Mango Creek/Independence Village also has a disco and weekend activities.

Another new resort is planned for Belize – The Palmetto Bay Resort at Maya Beach being developed by Dave Bowman and his exceptional team. It is located on Placencia Peninsula it will offer beachfront real estate and Four-Star amenities and will be the first development in the Caribbean designed “green” from inception to completion.

The first phase of the gated resort, which is currently under construction, will be comprised of 36 whole-ownership, luxury beachfront condominiums ranging from approximately 1,100 to 4,500 square feet, each with open views of the Caribbean. (In a perfect world, I would be talking with Dave about offering some of their units as fractionals.) Prices will start in the low $300,000s. The turnkey one- two- and three-bedroom residences are spread through two low-rise buildings. Designer Julieanne Dobson also worked on Francis Ford Coppola’s Turtle Inn in Belize. He is creating the interiors using warm woods and natural stone, vibrant contemporary textiles, and niche-lit Mayan and African-inspired art.

Ownership at Palmetto Bay Resort will include access to fitness facilities, conference rooms with wireless Internet; 24-hour reception and security; fully equipped luxury kitchens with gourmet utensils and stainless steel appliances; balcony barbecues; and lush, mature landscaping with use of indigenous fruit trees and plants. The property will feature a 300-foot oceanfront infinity pool, a 400-foot private beach, beach boardwalk, and private dock.

We have been telling you about Belize and the many awesome opportunities for second and third home ownership for months! It is now time to act. Let me know if you are ready!


Editor’s Note:
Jim Walberg is the co-Broker/Owner of The Bay Area Team, the most-successful team at Keller Williams Realty-Danville. He is also a member of the global LuxuryRealEstate.com network. Jim is an experienced blogger, as you can see by visiting his blog, Caribbean Islands Realty. We welcome your blog entries and comments in the LuxuryRealEstate.com Blog.

By Jim Walberg

We have just ended the first month of 2008 and my January 3rd Predications are being confirmed every day regarding the trends of Caribbean real-estate buyers! The deeded fractional ownership is having a dramatic impact on the buying patterns of Baby Boomers, Brits, Europeans and Canadians. Their appetite for full ownership of second and third homes/condos in the Caribbean is being refocused on the fractional-ownership resorts being developed by BIG international companies!

Buyers seeking Caribbean properties are recognizing that they are not going to live there full-time, so why have the responsibility of full ownership when there is an excellent resort management company in place to maintain and even rent a deeded fractional-ownership property as part of the purchase? An example of this trend can be witnessed in Aruba. There are more than 2,000 fractional-ownership units planned for this island by international developers cashing in on waves of buyers! (There are always exceptions to this thinking when the price point and the product are too good to pass up for full ownership, such as South Beach – Belize)

What does all this mean for the sellers and buyers of Caribbean real estate? If you are a seller, get your home on the market NOW with the most experienced international REALTOR® you can find who understands this market and has an effective Internet-based marketing strategy in place. As a buyer in 2008 for Caribbean real estate, you are going to have your pick of some great bargains, and ones that have huge upside appreciation that are available to those who know where the values are.

Some of the real-estate “hot spots” are St. Kitts, St. Vincent, Anguilla, Belize, Dominic, and the Dominican Republic. The outlook for buyers and sellers in the Virgin Islands and the Caribbean is “bullish” for 2008!

Deeded fractional ownerships will continue to gain market share away from the fully owned homes and townhomes/condos products. Those who have Euros, Pounds or Canadian dollars will have the best buying power for any real estate connected to the U.S. dollar. Again, be sure to find the best REALTOR® you can to represent you in all of your international real-estate transactions. A great resource for top-quality international REALTORS® is Luxury Real Estate!


Editor’s Note:
What an enthusiastic endorsement! To contact Jim Walberg, email Jim@JimWalberg.com or visit www.CaribbeanIslandsRealty.com. Fractional-ownership resorts have a lot of advantages as second homes and vacation spots. In fact, I recently wrote a four-page editorial on fractional-ownership resorts, which are also known as Private Residence Clubs, for LuxuryRealEstate.com Magazine. The story will be appearing in the Spring 2008 issue of the magazine. Click the following link to read the Winter 2008 issue of LuxuryRealEstate.com Magazine.

Condo hotel, hotel condo and condotel are all too long and don’t really describe this property type particularly well. That’s why I propose that this property type be known as Hondo. It sounds sleeker, plus it solves the problems inherent in the repeated vowel sounds in “condo hotel” and the clunky awkwardness that is “condotel.” I’m probably not the first to suggest this, but I thought I’d throw it out there anyway. I’ll also hopefully suggest replacements for other terms in the future.

Hondo. What do you think?


Editor’s Note:
Robert Lockard is the Public Relations & Media Specialist with LuxuryRealEstate.com. I am Robert. I create all of Luxury Real Estate’s newsletters, write the editorials in LuxuryRealEstate.com Magazine and much more.