Unique Homes Blog

The number of U.S. housing markets on the mend rose by five to a total of 263 in June, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. The list includes entrants from 49 states and the District of Columbia.

The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Twenty-nine new markets were added to the list while 24 others were dropped from it this month. New entrants included such geographically diverse metros as Salinas, Calif.; Sioux City, Iowa; Chicago, Ill.; Topeka, Kan.; Baton Rouge, La.; Laredo, Texas; and Philadelphia, Penn.

“This is the fifth consecutive month in which the IMI has designated more than 70 percent of U.S. metros as improving,” observed NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “While that’s a good sign that the housing recovery is on solid footing, we know that various challenges are slowing its progress – including continuing issues with credit availability for builders and buyers, as well as appraisals that aren’t keeping up with the rising cost of construction.”

“As market conditions improve across most of the country, some metros have moved onto the IMI list while marginal seasonal fluctuations have nudged others off of it,” noted NAHB Chief Economist David Crowe. “This is to be expected as the recovery expands. Meanwhile, it’s worth noting that the number of improving markets is now more than three times what it was in June 2012.”

“The continued strength of the IMI is an indicator of the ongoing, positive momentum in housing markets nationwide as consumers move to take advantage of historically favorable interest rates and affordable home prices,” added Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau. NAHB uses the latest available data from these sources to generate a list of improving markets. A metro area must see improvement in all three measures for at least six consecutive months following those measures’ respective troughs before being included on the improving markets list.

A complete list of all 263 metros currently on the IMI, and separate breakouts of metros newly added to or dropped from the list in June, is available at www.nahb.org/imi.

NEW YORK – Arthur Zeckendorf and William Lie Zeckendorf, co-chairmen at Zeckendorf Development, LLC, have announced that closings have officially commenced at one-of-a-kind luxury residential condominium, 18 Gramercy Park.

“We are thrilled to announce that closings have begun at 18 Gramercy Park,” said Arthur Zeckendorf, co-chairman of Zeckendorf Development. “The response at 18 Gramercy Park has been phenomenal and we expect robust sales in the spring and summer months and now that Gramercy Park is in full bloom.”

 Originally built in 1927, 18 Gramercy Park is a newly designed modern classic that evokes the luxury and grandeur of some of New York’s finest cooperative landmarks in a historic downtown setting. The development features 16 expansive residences, including a grand maisonette and a duplex penthouse, in contract at $42 million.

 Each four-bedroom residence offers 40 feet of frontage directly overlooking Gramercy Park with palatial living rooms which span the entire front of the building. Buyers are gifted with a key to Manhattan’s only private park in addition to the building’s exclusive luxury amenities such as a 24-hour concierge, state-of-the-art gym and spa.

 ”We’ve carefully curated every detail with the modern luxury home buyer in mind,” commented William Lie Zeckendorf. “From the hand-crafted cabinets to the restored historic details, 18 Gramercy Park truly offers an unparalleled lifestyle experience.”

18 Gramercy Park was developed by Arthur Zeckendorf and William Lie Zeckendorf of Zeckendorf Development, LLC, in partnership with Global Holdings, Inc., a New York-based private real estate investment company and part of the Eyal Ofer family interests.

On the market for the first time ever in 5 generations is 156 Emerald Bay in Laguna Beach, Calif, listed by Bill Dolby of Villa Real Estate for $38 million. Within the unique private beach community of Emerald Bay, one of Southern California’s premier locations, this property is just 15 minutes from the John Wayne airport and private jet centers.

With unsurpassed views, this property is on over a half of an acre and features 68 linear feet of private beach frontage to one of the finest coves in Southern Calif. This home includes direct access to the beach and a unique and rare beach cabana on the sand.Offering incredible development opportunity, 156 Emerald Bay is one of the most spectacular estates of any oceanfront property from San Diego to Malibu.

In the Emerald Bay community, residences enjoy luxury amenities that include a half mile of sandy beach cove, a swim center, six championship tennis courts and a pro shop, grass parks and sports courts, 24/7 security patrol and scheduled events that take place throughout the year. You might even run into neighbors like Warran Buffet.

Living at 156 Emerald Bay means waking up to views of sea cliffs and white sand, with the hillside, city lights and headlands of Dana Point still in sight. The home has 5 bedrooms, 5 baths and 3,920 square feet of living space, and is a perfect home for one to reside as they plan their dream estate. Literally, “a once-in-a-lifetime opportunity.”

For more information about this home, visit www.156eb.com.

Franklin Place is located on a quiet block north of Franklin Street in Tribeca, one of New York city’s prime locations.

Tribeca’s newest condominium will be built from the ground up. The building will rise up 20 stories and will encompass 53 homes ranging in size from airy lofts to magnificent four-bedroom homes. The exterior of the building is designed by the world renowned architectural firm, ODA. The interiors are designed by Andres Escobar.

Every home is inclusive of an open chefs kitchen that is well thought out for every day living and entertaining. The kitchen’s include Poggenpohl cabinetry, an integrated Subzero refrigerator and Bosch stove, range and dishwasher. Every residence offers luxurious, spacious bathrooms with hand-laid imported marble and 5 inch plank oak hardwood floors throughout.

The building amenities will include: full time concierge/doorman, parking, live-in super, landscaped roof deck with pool & cabanas, state-of-the-art gym, children’s playroom, private storage spaces and separate bicycle storage.

By Kimberly Turner

Merging the most elite collection of hospitality brands in the world with authentic Bahamian culture and architecture, the $3.5 billion development Baha Mar is slated to open in December 2014 in Nassau with 307 distinctive residences. As the largest single-phase luxury resort project in the history of the Caribbean, Baha Mar sits alongside 3,000 feet of uninterrupted white-sand beach and turquoise waters.

The centerpiece of the development is Baha Mar Casino and Hotel, which will feature 1,500 slots and 150 table games. Within the luxurious Las Vegas-style casino there will be 1- and 2-bedroom private residences, which will include terraces and patios with ocean views. Residents will enjoy private pool and lounge areas and have access to all the exclusive amenities of The Baha Mar Casino and Hotel.

Baha Mar will also include 3 other hotels (Rosewood, Mondrian and Grand Hyatt), creating more than 2,200 rooms, including 307 private residences in the development. Deeded, free-hold ownership at Baha Mar offers flexibility; owners can enjoy year-round personal use of their residence as a private vacation home or elect to participate in Baha Mar’s rental program and enjoy up to 90 days of personal use per annum. Owners participating in the rental program are eligible for significant tax benefits in the Bahamas.

The showpiece of Baha Mar is the Ultra Villa, an unparalleled residence featuring interior designs by Kravitz Design, the creative firm of the multi-platinum Grammy-winning performing artist, actor and designer Lenny Kravitz.

Owners will also have access to an 18-hole, 72-par Jack Nicklaus signature golf course, ESPA destination spa, a National Art Gallery of Bahamas art institution, Waterside Place for shopping and dining and a nightclub designed by Kravitz Design.

For more information on The Residences at Baha Mar, please visit www.bahamar.com.

Finding reliable information about the real estate market online

— Alexa Rozzi

Recently, the folks at Unique Homes came across an article on HouseSittingJobs.com that they found quite surprising.

The article listed 30 blogs that featured the most reliable tips for real estate shoppers. From information on taxes and laws, to home pricing and green real estate, the article provided links to resources for real estate buyers, sellers and enthusiasts in general.

But this article seems to have overlooked Unique Homes!

To show just how extensively Unique Homes covers the real estate market, we’ve provided links to some resources of our own: Below are five blogs published on Uniquehomes.com that cover an array of topics that will help inform those looking to get a better look at the market.

1)    Home Pricing: This article analyzes home prices through March 2013 using data released by S&P Dow Jones showing the current real estate trends in cities across the United States.

2)    Green Real Estate: A look into a project lead by Dwell Development and its new sister brand Dwell Northwest to create a pedestrian-friendly neighborhood in Kirkland, Washington. Dwell Development is known for being a leader in 5-star-built sustainable homes.

3)    Market Trends: Where are the fastest moving markets? Zip Realty released a report in May outlining which areas in the United States can sell a house in the least amount of tim

 4) Celebrity Real Estate: Every Wednesday, read about which celebs are trying to sell their homes by checking out the A-listings columns.

 5) Tips on Tricks for Using Digital Media: Digital advertising and marketing has transformed the way agents can show their properties. VScreen and REEL SEO provide tips and tutorials to film a property tour that will produce maximal results.

By Camilla McLaughlin

Prices continue to rise, and pocket listings are becoming more common in certain areas, according to experts at the National Association of Real Estate Editors’ annual conference in Atlanta. This morning, a panel of seasoned luxury agents provided a snapshot for journalists of markets in their regions, as well as nationally.

In Atlanta, the “market is in recovery and even more so the higher up you go in prices,” says David Boehmig of Atlanta Fine Homes Sotheby’s International Realty.

On Cape Cod, where the traditional definition of luxury as the top 10 percent of the market still stands, “the market is improving and people understand that real estate is a beaten-down asset class,” explains Jack Cotton with Sotheby’s International Realty in Osterville, Mass.

In Beverly Hills, the luxury property market is hot with multiple offers becoming the norm. “The way things are moving, the market is recovering very quickly. We’re seeing that pent-up demand resulting in higher sales and it’s driven by consumer confidence,” says Kofi Natei Nartey with The Agency, noting that positive numbers on bank statements, 401ks and investment returns are helping drive demand.

Pocket listings are a growing trend in hot markets such as L.A. Nartey says that from January to May 2013, versus the same time period in 2012, the number of pocket listings that have sold doubled. In his area, agents increasingly use pocket listings as a sales strategy, marketing the property quietly as a pocket listing and creating some buzz before it actually comes on the market.

International buyers continue to boost luxury sales, but their market influence varies from region to region. In Atlanta, approximately 5 percent of the buyers are internationally based, while they account for 20 percent or more of the market in Los Angeles. These buyers, according to Cotton, want to be able to tell the story that goes along with the house, so they can not only talk about owning a home in the U.S., but also the unique micro story that goes along with the home. They are looking for an architect of note or something cool that has happened in the house.

Sellers expect agents to market internationally and to have tailored outreaches geared toward specific countries. The driving force behind international buyers changes with each buyer and, says Nartey, when it comes to negotiating, an agent has to understand the individual culture.

When asked about prices for trophy properties, which, with a recent $190 million listing in Greenwich, Conn., are beginning to bump against the $200 million threshold, Nartey says prices for trophy homes are more of a marketing tool than anything else. Also, those prices often command attention from top-tier buyers and the very limited number who can purchase at these prices.

Looking ahead, there was no dispute among panelists that prices overall will be heading upward. “Atlanta is in the early phases of a longer term recovery. It’s doesn’t mean we’re going to see 15- or 20-percent price increases. I think they will be more gradual,” says Boehmig. Right now, the biggest hurdle in Atlanta is appraisals, he adds.

In Beverly Hills, cash buyers rule, which means that appraisals don’t even come into play. Last year, Nartey says there were 700 cash buyers for properties over $5 million. And the market is so competitive, especially in the $1.5 million range, that people are waving appraisals and loan contingencies just to have the winning offer.

What do luxury buyers want in Beverly Hills?  “In the ultra-high end, people are looking for the ‘wow’ factor. We are seeing developers looking for opportunities to build the house with that immediate ‘wow’ factor,” says Nartey. And in his area, the ‘wow’ factor that captures the most dollars is often prime acreage of flat land with views in Beverly Hills.

“Very smart, very astute” is the way Cotton characterizes luxury buyers today. “When you see these huge sales, you have to remember that the buyer is a smart person who has made that money and who sees the value in the property.”

By Kimberly Turner

Glassy Mountain

Winding through the unobtrusive mountain roads on my tours within the 3 distinct areas of The Cliffs (the mountain region, Keowee Lake and Walnut Cove), stunning mountain views abounded. And, there were more than enough recreational activities — golf, tennis, hiking, biking, wellness centers, unofficially designated dog meet and greet niches and numerous member clubs and organizations — flourishing in the areas.

The Cliffs, a collection of seven gated communities on the edge of Carolina Blue Ridge Mountains, span from northern South Carolina to Southwest North Carolina and is known for its 6 (soon to be 7) golf courses and a robust fitness and wellness life. Each community allows for the potential to build your dream home, intertwined within the environment, offering an opportunity for landscaped water features, stunning rock formations and porches or decks that extend right into the mountain landscape.

Membership to the facilities is offered in tiered programs, depending on the person’s desires, and is available as legacy family access, which extends privileges to immediate family members with no additional duties. The memberships allow access to all seven communities’ facilities, including all of the golf courses (from the challenging Nicklaus-designed to the new and upcoming Gary Player course, set to open in Fall of 2013), wellness centers and clubhouses.

And, as I found out from my tours and experience, each set of communities has its own personality that defines itself and lends to homeowners’ desires.

The mountain region consists of three communities, Mountain Park, Valley and Glassy. As one of the older areas (Glassy was the first community within The Cliffs), retirees often flock to this community.

The Lake region, spanned throughout Lake Keowee, is composed of Keowee Springs, Keowee Falls and Keowee Vineyards. Navigating the areas is easiest by boat, and near Falls Creek there is a cove where residents dock along the sand bar and set up volleyball right in the shallow water. Families (and anyone who enjoys the picturesque water scene) gravitate toward these communities.

Both the mountain region and Lake region in South Carolina are a short drive to Greenville, a thriving downtown community with festivals, events and quaint gathering areas.

“My favorite [event] would be Fall for Greenville, a 3-day music and food festival, that features all kinds of local cuisine along with both locally and regionally known artists, set to a perfectly cool Autumn climate,” says Justin Coleman, Sales Associate for The Cliffs at Keowee.

Lastly, in North Carolina, about 25 minutes from the vivacious cultural Asheville (where residents often frequent), lies Walnut Cove. Backing to protected woods, this area offers a unique private aura.

“It’s like having a 90,000-acre backyard that you don’t have to pay taxes on,” says Broker in Charge Kent Smith. “And, certainly we all enjoy its natural beauty from our golf course and hiking trails.” Additionally, the Blue Ridge Parkway is easily accessible and often seen from many homes, and the airport is a short drive away — not to mention historical Biltmore Estate is within close proximity. At the same time downtown Asheville, with its great shopping and dining, is nearby. “It’s a good place to live and play,” says Smith.

Whether celebs are selling or buying, the real estate market receives a touch of glam when  A-listers get involved.

— Alexa Rozzi

Anna Faris
Actress Anna Faris and husband Chris Pratt have listed their 1950s modern, ranch-style house for $2.295 million. The couple is looking to sell the 2,563-square-foot residence after having purchased a new home close by.

In fact, Faris and Pratt’s new residence is literally right across the street, according to The Real Estalker. Faris and Pratt’s listing sits on .87 of an acre in the Lower Nichols Canyon with three bedrooms and two and one half baths.

Kanye West
Kanye West’s fourth floor apartment at 25 West Houston Street has been listed for $4.5 million. Curbed:NY reports that the bachelor pad is laden with some unusual decor, including statues of miniature cupid boys in the entryway and living room, as well as a long, granite basin-like bathtub positioned a few feet from his bed.

Sean “P.Diddy” Combs
Selling luxury real estate must be trending in the world of Hip-Hop, as Sean”P.Diddy” Combs has re-listed his fully loaded Park Imperial apartment for $7,999,995. Combs has been trying to sell the New York property since September and first listed the pad for $8.5 million. After removing it from the market in March, switching brokers and slashing the asking price, the apartment is now available to buy once again. Details of the apartment include shag carpet, clear Lucite furniture and a sparkly, gem-covered corner column according to Curbed:NY (pictured above).

NEW YORK –  Renowned New York City architectural firm Ismael Leyva Architects has designed a major New York City downtown residential development: the visually stunning and contemporary Tribeca Royale Condominium. Ismael Leyva Architects was selected by the developer ABN Realty LLC as both design architect and interior designer for this project to create an architecturally significant and 21^st century work of art.

Located steps away from the World Trade Center at 19 Park Place in TriBeCa, Tribeca Royale Condominium will rise 21 stories to 292 feet and will include 24 residences, including 11 full floor units on the upper floors, and duplexes on the seventh and eighth floors and penthouse residence. With a 25-foot wide façade and double-height lobby, this striking design maximizes available space throughout the lean structure.

“Our goal with Tribeca Royale was to create a state-of-the-art residential building that showcases unique urban design given the site constraints, while efficiently maximizing space,” said Ismael Leyva, president of Ismael Leyva Architects. “This design offers unique residences in a very desirable downtown location.”

Spanning approximately 53,000 square feet, the Tribeca Royale will feature amenities such as a gym, residential lounge with a public terrace and an additional two terraces on the roof for designated units. Each residence includes a circular balcony with glass railing while the penthouse and 11^th floor residences feature terraces with glass railings. The through lot allows residences to have frontage on both east and west facades.