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Douglas Elliman Sells Miami Star Island Estate for $33 Million

June 13, 2018

Douglas Elliman Miami just sold an iconic Miami Beach mansion for $33 million. Featured as the backdrop to ‘œMiami Vice’ in the 1980’s and on Bravo’s ‘œReal Housewives of Miami’, the Star Island waterfront estate was listed earlier this year for $40 million. According to a Douglas Elliman post, ‘œThis sale now holds the top spot as the ‘œhighest price paid for a Miami Beach single-family home since 2015.’

According to a Forbes article, Lennar Corp Executive Chairman Stuart Miller purchased the Star Island estate from Thomas Kramer, a former Wall Street commodities trader. Boasting stunning views of the Port of Miami and skyline, the property features 17,000 square feet of living space, 13 bedrooms, 12 bathrooms, a movie theater, a 10,000-bottle wine cellar, pool, gym and guest homes. See Forbes article

Delray Beach Douglas Elliman Executive Director of Luxury Sales, Nicholas Malinosky congratulates fellow Elliman colleague Brett Harris on the transaction.

Photo: Courtesy of Douglas Elliman post

Pablo Picasso’s French Riviera Estate Sells for $24 Million

November 4, 2017

Pablo Picasso’s French Riviera Estate recently sold for $24 Million. According to Forbes, the property was purchased on October 12, 2017 by Rayo Withanage, a Fiji-born, New Zealand real estate businessman. The estate was to be auctioned off by Residence 365, an affiliate of Christie’s International Real Estate; however, there was only one bidder present at the auction. With a starting price of $24 million and only one bidder, the home was purchased at the opening bid price. See Forbes article

Located in the hills above Cannes, the Villa Notre Dame de Vie at Mougins belonged to Pablo Picasso and where he spent his last years. According to a Mansion Global article from September, the property was renovated and well maintained by previous owner, Tom Moeskops. Although the residence has many modern conveniences, the renovation ‘œremained faithful to the home’s features when Picasso owned it’. The property features a main house, guest house, caretaker’s house for a total of 15 bedrooms and 12 bathrooms. Picasso entertained many celebrities at the home including Winston Churchill who enjoyed visits spent painting. The estate dates from the 18th century and belonged at one time to the Anglo-Irish Guinnes brewing family. See Mansion Global article

The property was being auctioned on behalf of the Dutch Achmea Bank, creditor of the former owner who went into bankruptcy. A bank attorney stated that ‘œthe selling price was a disappointing bargain because it is worth at least $30 euros ($34.89M USD).

As Douglas Elliman agents, Nicholas Malinosky and Randy Ely are your connection to the international real estate market. Networking closely with Knight Frank, Nick and Randy can help you find the perfect international property.

Looking to sell or buy a luxury home in the United States, Europe or beyond? Contact Nick Malinosky and Randy Ely to start the conversation.

Photo: forbes.com

Forbes Ranks South Florida’s Manalapan as America’s Most Expensive Zip Code

December 9, 2016

Forbes just ranked South Florida’s Manalapan as the Number 1 most expensive zip code. The post dated December 8 unveils Forbes’ 2016 list of America’s Most Expensive Zip Codes. Manalapan grabs the number one spot with a median listing price of $7.86 million for homes on the market over 90 days.

Located between Palm Beach and Delray Beach, Manalapan is home to multimillion dollar ocean-to-Intracoastal homes including a $195 million listing knows as Gemini (listed in January). Manalapan made the list this year for the first time due to a decision to analyze zip codes that share two or more towns/places with different inventory mixes. Manalapan is very different from the rest of the 33462 zip code (mainland Lake Worth and Lantana). This also explains how some zip codes will appear on the list multiple times.

New York claims six of the top ten spots and a dozen of the top 25. Atherton, California fell to the third spot after being ranked as number one for the last three years. Please click link to view full list and article.

Each year, Forbes works with Altos Research to calculate the median home prices for more than 28,500 U.S. zip codes using asking prices for single-family homes and condos. Zip codes with fewer than ten homes on the market are not considered.

Ranked as the #1 Luxury Team in the Beach Area, oceanfront specialists Nicholas Malinosky and Randy Ely are quite familiar with Manalapan luxury real estate. They have marketed and sold many of the ocean-to-Intracoastal mansions and vacant parcels (representing some multiple times over the last few decades).

If you are interested in selling or buying an oceanfront home, please contact Nicholas Malinosky and Randy Ely of the Douglas Elliman Real Estate.