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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.


Global Exposure Through Douglas Elliman and Knight Frank Partnership

September 22, 2017

Douglas Elliman Real Estate’s exclusive alliance with Knight Frank Residential allows their luxury agents to showcase the company’s listings to over 520 offices across 60 countries and 6 continents. As the leading residential agencies in New York and London, these two industry giants have been working together since the 1970’s through international referrals deciding to formalize the partnership in 2014.

Douglas Elliman luxury agent Nicholas Malinosky is pleased to be part of this global alliance. In order to maximize this valuable network, Mr. Malinosky planned a recent business trip to London to visit the Knight Frank’s Mayfair office. It was a tremendous opportunity to introduce his South Florida listings to his UK colleagues, learn about London’s offerings and compare notes about the current real estate trends in these two luxury markets. When asked about the meeting, Malinosky said, ‘œIt was a great chance to talk with colleagues about our respective listings and markets. These agents are at the top of their game doing what Randy Ely and I have the privilege of doing in South Florida ‘“ marketing and selling amazing properties.’

Knight Frank’s website explains it best: ‘œOperating in locations where our clients need us to be, we provide a worldwide service that’s locally expert and globally informed.’ With co-branded offices in key high net worth markets, Douglas Elliman and Knight Frank provide their agents global access to qualified buyers, not available to any other real estate professionals in the industry. Over 21,570 luxury agents network with their colleagues throughout the world and showcase their exclusive listings utilizing an exclusive database of over 700 billionaires.

Thanks to a superb media strategy, Douglas Elliman and Knight Frank increase brand awareness through print, digital, social and public relation outlets. For instance, each Elliman publication is available in Knight Frank offices and all of Douglas Elliman’s exclusive listings over $1.5M are featured on The Wealth Report is a Douglas Elliman and Knight Frank exclusive publication best explained on, ‘œNow in its 11th year, The Wealth Report is the industry’s leading publication on global prime property markets, wealth, distribution and investment sentiment. The world is becoming an ever smaller place and operates more as a global marketplace. The impact of how one region performs can positively or negatively affect another. The Wealth Report offers invaluable insight into global trends and what will impact personal assets in the years to come.’

Douglas Elliman agents, Nicholas Malinosky and Randy Ely are honored to be designated as Executive Directors of Luxury Sales in the Delray Beach office. With a commitment to client service and results, Mr. Malinosky and Mr. Ely utilize Douglas Elliman’s resources knowing that when they list a beach area property in South Florida, it is going to be showcased to potential buyers and luxury agents worldwide. No other brand offers that power or exposure.

Looking to sell a luxury property in South Florida? Contact Randy & Nick to start the conversation.

What Does a Villa Built for a Dubai Royal Look Like?

August 23, 2017

Take a look inside this 46,000 square foot luxury villa complete with luxury amenities including 11 bedrooms, 15 bathrooms, indoor and outdoor pools, a 16-seat movie theater, breathtaking views of the best stretch of beachfront available for a private residence in Dubai, and a nightclub with room for 200 guests. According to Mansion Global, ‘The villa also comes with a very rare asset in this part of the world’ approval to put in a mooring for a boat, something that is not usually permitted in Dubai’.

The neighborhood is full of high-end establishments such as Nobu and Locatelli located in the Atlantis hotel, a W Hotel coming soon, and a $4.5 million square foot shopping mall currently under construction that will feature five stories of luxury shopping and rooftop restaurants.

It may be not a surprise that the Dubai Royal family never lived in the home, but used it for guests and entertaining. Built in 2007, the villa is built more like a hotel than a private residence with specific service entrances and complete maid quarters for 10 staff members. The villa is currently on the market for $200 million (AE Dollar) / $54.5 million (US Dollar). See Mansion Global article

Looking to buy or sell a property fit for a royal? Douglas Elliman Delray Beach Executive Directors of Luxury Sales, Nicholas Malinosky and Randy Ely can assist you with your real estate goals. With several record-breaking sales to their credit, Nick and Randy know the intricacies of marketing and selling South Florida properties that are “fit for a king”. Together, these two industry leaders are Redefining Luxury Real Estate. Please feel free to contact Nick Malinosky and Randy Ely to discuss the current luxury market.

Photo: Mansion Global

$350 Million Megamansion Is Most Expensive Listing in U.S.

August 17, 2017

A Bel Air home was just listed for $350 million making it the most expensive listing in the U.S. According to Global Mansion, Chartwell, a 1930’s chateau that belongs the family of the late billionaire Jerry Perenchio, went on the market August 7 as the highest price listing in the nation.

Other nine-digit listings include Opus, a Beverly Hills spec home listed for $100 million. The developer, Nile Niami plans to unveil another megamansion next year that will be listed at $500 million. Formula One heiress Petra Stunt is selling her home in Holmby Hills for $200 millio and the Playboy mansion sold for $100 million last year.

How do the select few luxury listing agents with homes in this price range market the one-of-a-kind mansions and find a billionaire buyer? Douglas Elliman CEO, Scott Durkin who is quite comfortable around major luxury sales was asked about selling megamansions. Durkin commented, ‘œThe marketing of a home of that price range requires you to completely wipe your board clean. Getting the home the most exposure you possibly can and targeting the audience, that’s really the goal. Once you’re north of nine digits, you can’t just wait for the phone to ring.’ Douglas Elliman brokered the most expensive Manhattan penthouse last year for $87.7 million as well as other nine-figure listings in New York City and the Hamptons.

Los Angeles’ finest luxury brokers share their marketing strategies and success stories in the Global Mansion article. See full article

Douglas Elliman Delray Beach Executive Directors of Luxury Sales, Randy Ely and Nicholas Malinosky are quite familiar with marketing and selling opulent oceanfront mansions in South Florida. With over 40 years combined experience and a sole focus on the beach area, Nick and Randy know that luxury oceanfront estates require a unique and thorough marketing strategy.

Randy & Nick are the exclusive listing agents for the most expensive listing to ever hit the Ocean Ridge luxury market. Check out this oceanfront mansion which is slated for completion this fall:
6161 North Ocean Boulevard, Ocean Ridge listed at $24.95 million See details

Please contact Nick Malinosky and Randy Ely for more details about this oceanfront mansion or to discuss the current luxury market.

Photo: Mansion Global

Knight Frank Reports on Luxury Real Estate Around the Globe

August 15, 2017

According to a Knight Frank, luxury residential real estate prices are on the rise in cities around the globe including Madrid, Berlin, Paris and Dublin. On the other hand, prices in China’s top cities declined. Knight Frank’s 2017 second quarter report tracks 41 cities worldwide.

According to Mansion Global, ‘œThe Knight Frank Prime Global Cities Index, which tracks luxury residential markets’”defined as the top 5% the housing market in each city’”rose 4.4% year-over-year by the end of June.’

European cities have seen a resurge in luxury residential prices. According to the Knight Frank report, ‘œFears surrounding the upcoming Brexit have, in part, led to a recognition of Europe’s comparatively affordable luxury markets’.

Other key facts:
San Francisco had the highest price growth among the four tracked US cities
Guangzhou leads the ranking with an annual growth of 35.6% in luxury real estate prices
Luxury prices in Hong Kong rose 36.2%
See Global Mansion article

Would you like to discuss South Florida’s luxury real estate market? Contact Nicholas Malinosky and Randy Ely with Douglas Elliman to discuss the current real estate market beach area.

Photo: Mansion Global/Nisa Maier/Getty Images