News Corp To Acquire Move, Inc.

Will become a leading player in rapidly growing US online real estate sector


New York, NY (September 30, 2014) – News Corp and Move, Inc. (“Move”) announced today that News Corp has agreed to acquire Move, a leading online real estate business that brings consumers and Realtors®together to facilitate the sale and rental of real estate in the United States.

REA Group Limited (“REA”), which is 61.6% owned by News Corp and is the operator of the leading Australian residential property website,realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp.

Through realtor.com® and its mobile applications, Move displays more than 98% of all for-sale properties listed in the US, sourced directly from relationships with more than 800 Multiple Listing Services (“MLS”) across the country. As a result, Move has the most up-to-date and accurate for-sale listings of any online real estate company in America. The Move Network of websites, which also includes Move.com, reaches approximately 35 million people per month, who spend an average of 22 minutes each on its sites[1].

Move’s content advantage makes it well positioned to capitalize on the fast-growing US online real estate sector and the world’s largest residential real estate market. More than five million homes in the United States are bought and sold each year, representing more than $1 trillion in annual transaction volume. Agents and brokers are expected to spend approximately $14 billion in 2014 marketing homes (up from approximately $11 billion in 2012), and an additional $11 billion will be spent by mortgage providers[2].

Under the acquisition agreement, which has been unanimously approved by the board of directors of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950 million (net of Move’s existing cash balance), via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately US$200 million. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares.

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The Carlyle Residences Unveils The Cantoni Home

By Caitlin Flynn

Elad Group, developer of Westwood’s top-selling luxury condo building, The Carlyle Residences, together with leading retailer and design studio, Cantoni, unveiled The Cantoni Home.  Their curated collection of model homes has facilitated partnerships with top-tier design firms such as FENDI Casa, Meridith Baer, Bowery Design Group, Oliver Furth and most recently Minotti, enabling buyers to view and purchase a custom-crafted, turnkey home from some of the world’s most renowned brands in interior design.

The Cantoni Home showcases the design studio’s coveted portfolio of contemporary furnishings, art and accessories.  In order to create a stylish urban oasis and enhance the residence’s sweeping city views, the Cantoni design team artfully outfitted the elegant home by selecting a neutral color palette and sophisticated pieces from Cantoni’s Dress Code and Love Letters collections.  Handcrafted in Italy using sustainably sourced exotic woods, each piece is finished in high gloss lacquer and appointed with elegant leather detailing with chrome accents.  Artwork throughout the space includes vintage photography featuring Hollywood icons as well as one-of-a-kind abstract works commissioned exclusively for Cantoni.  The spacious two-bedroom, two-and-a-half bathroom residence is available fully furnished at $3.425 million.

“We are thrilled to launch The Cantoni Home, our latest designer collaboration and possibly our last as the building draws closer to full occupancy,” said Samantha Sax, Executive Vice President of Marketing and Sales for Elad Group.  “Our most recent designer partnership with Minotti has proved a huge success, and with that residence set to open escrow in the next week, we look forward to offering buyers a new design aesthetic from which they can draw inspiration.”

Remaining residences in the building range from 2,772-square-foot two-bedrooms to 3,535-square-foot three-bedrooms and start at $2.595 million.

 



duPont REGISTRY and Unique Homes Merge

Two powerhouses of luxury real estate have entered into a groundbreaking partnership. While remaining separate entities, the two luxury marketing brands will now provide access to one of the largest international ultra-affluent audiences ever available.

(St. Petersburg, Fla.) duPont REGISTRY and Unique Homes, two separate powerhouses within the luxury real estate industry, announced today that they have entered into a partnership to further benefit and accommodate luxury realtors and brokers seeking innovative marketing solutions. While Unique Homes and duPont REGISTRY will continue to be run as separate brands, the combined resources will only increase the potential for each.

“We are very pleased to welcome Unique Homes into the DuPont Registry family,” said Thomas L. duPont, Chairman of the St. Petersburg, Florida-based publishing company. “With both of these well-established luxury real estate brands under our corporate umbrella, we can deliver high-quality products and services to the high-end real estate community like never before.”

Among the duPont REGISTRY line of high-end publications are A Buyer’s Gallery of Fine AutomobilesA Buyer’s Gallery of Fine Boats and A Buyer’s Gallery of Fine Homes.Unique Homes, the Princeton, New Jersey, luxury real estate media brand about to celebrate its 44th year, also has an impressive list of publications, including Unique Homes, Ultimate Homes, Unique Homes China Edition and The High End, among others.

The merger will create a pooling of resources unlike anything the real estate industry has ever seen. From a long list of titles, to countless points and methods of distribution, to massive digital audiences, agents and brokers involved within these marketing platforms will have direct access to a larger and more affluent audience.

“Each of our luxury real estate titles has established its own niche within the industry, which makes it easy to have them be part of the same corporate entity,” said Steve Chapman, CEO of duPont Publishing, Inc. “We will be able to realize efficiencies in our back-office operations, freeing up resources and energy to allow us to expand what each brand can offer in the areas of print, events, online, digital and social media.”

Begun in the early 1970s as a regional publication called UniquesUnique Homes quickly grew into an international media brand that today reaches affluent consumers in more than 80 countries worldwide. In 2014, it received a Bronze Award from the National Association of Real Estate Editors for “Best Design, Home or Shelter Magazine.”

Founded in 1984 and headquartered in St. Petersburg, Florida, duPont REGISTRY™ produces the leading luxury marketplace publications for automobiles, homes, boats and watches, as well as the yearly Exotic Car Buyers Guide. For more information, visit the duPont REGISTRY™ website at www.dupontregistry.com.

Rick Goodwin, Publisher of Unique Homes, can be reached at rgoodwin@nci.com or 877-688-1110, ext. 220


123 on the Park is 50 percent leased After Only Three Months

By Caitlin Flynn

After less than three months on the market, The Chetrit Group and Clipper Equity announced today that 123 on the Park is 50 percent lease.

123 on the Park, exclusively represented by aptsandlofts.com, is a seven-story luxury rental development, located in the Prospect Park South area of Brooklyn. The building was once home to the former Caledonian Hospital Center, and was redeveloped by Clipper Equity and The Chetrit Group.“Demand for 123 on the Park has been even stronger than expected. We are extremely pleased,” said J.J. Bistricer, principal of Clipper Equity.
The one-of-a-kind building, with refined modern interiors, offers residents the unique opportunity to enjoy a new luxury rental development with exquisite unobstructed views of Prospect Park.

“123 on the Park is one of the only full-service buildings that overlooks the park,” said David Maundrell, founder and president of aptsandlofts.com. “We anticipate strong leasing activity will continue throughout the rest of the summer and fall.”

123 on the Park features a mix of studios, one-, two- and three-bedroom apartments. Pricing for available homes begin at $2,250 for a studio, $2,300 for a one-bedroom and $3,300 for a two-bedroom apartment.

123 on the Park offers residents top-of-the-line amenities, including a state-of-the-art fitness center, yoga studio, gaming lounge, children’s playroom and a magnificent furnished common roof deck overlooking Prospect Park.


Luxury Real Estate Board of Regents Adds its Newest Firm

By Caitlin Flynn

Fuller Sotheby’s International Realty has been selected to exclusively represent Luxury Real Estate Board of Regents in Denver, Boulder, the Vail Valley and Breckenridge, Colorado. The Board of Regents, which is celebrating their 10-year anniversary, is the governing body of Who’s Who in Luxury Real Estate, the worldwide network of high-end brokerage firms.

Fuller Sotheby’s International Realty distinguishes itself as Colorado and Metro Denver’s leading luxury real estate brokerage by providing its professional team with a uniquely high level of sales support and utilizing the industry’s leading technologies, business systems and vendors. Fuller Sotheby’s International Realty serves some of Colorado’s best-known luxury real estate markets and consistently produces more than $1 billion in annual sales volume. Its broker associates average over 12 years’ experience and over $6 million in annual sales production.

“We are honored to be a part of the exclusive Luxury Real Estate Board of Regents. This relationship further places us as the leader in luxury real estate in Colorado and around the world,” said Scott Webber, president of Fuller Sotheby’s International Realty.

Fuller Sotheby’s has been an integral part of the Who’s Who in Luxury Real Estate network since 2001 and will now have the added benefit of an array or powerful, exclusive marketing tools and solutions.


Newly Listed $139 Million Mansion in Hillsboro, Florida

By Caitlin Flynn

Le Palais Royal, a 60,500 square foot mansion on Florida’s exclusive Hillsboro Beach, is currently on sale for $139 million, making it the most expensive property on the market in America.

For the ticket price the massive and extravagant estate offers 11-bedrooms 17-bedrooms, 30 car garage, 18 seat IMAX Theater (the first of its kind in America), 1,300 gallon fish tank, and a 4,500 square foot infinity pool.

The Palais Royal was designed largely after the Palace of Versailles and also is remnant of many different European styles according to the Miami-based architect and interior designer, Denio Madera.

Surrounded by a gate covered in 22-karat gold, this home sits on 4.4-acres with 465 feet of waterfront on the Atlantic Ocean and 492 feet of waterfront on the Intracoastal Waterway. Privacy and security was a priority in the home’s construction, it has a built-in, elaborate security system as well as kennels for guard.


World Wide Group Puts Finishing Touches on QLIC Building

Executives at the World Wide Group gathered this week to celebrate the topping out of QLIC, the developer’s new residential building located at Queens Plaza North and 24th Street in Long Island City, New York. QLIC, which is set to open its doors to residents in early 2015, now stands 21-stories tall and will offer a variety of 421 studio, one-, two-, and three-bedroom rental units. Partners on the project include Rabina Properties and Cammeby’s International Group.

“QLIC will reflect and contribute to the liveliness and energy of Long Island City,” said David Lowenfeld, COO of World Wide Group. “QLIC will offer New Yorkers a home unlike any other in the area, with beautiful apartments, unmatched amenities including an outdoor swimming pool, and convenient access to multiple transportation options. This significant project milestone puts us one step closer to realizing this vision. We look forward to welcoming our first residents in early 2015.”

The building will provide over 25,000 square feet of amenities – including a rooftop outdoor pool with a landscaped deck overlooking the Manhattan skyline, a state-of-the-art fitness center, a private garden, indoor parking and a bike room. In addition, QLIC residents are just steps away from a variety of retail, dining, art and cultural destinations located in the heart of Long Island City’s bustling 24/7 neighborhood.

The central location in Long Island City grants accessibility to the developing and existing fixtures the city has to offer. The building is within a five block radius of eight subway lines (7, N, Q, E, F, M, R and G) and the trip to 59th Street and Lexington Avenue is one stop away and takes approximately five minutes. Additionally, the entrance to the building is adjacent to Long Island City’s highly-used bike path to Manhattan.


CityRealty Reports Top Penthouse Listings In NYC

By Caitlin Flynn

Along with its weekly report on home sales in NYC, CityRealty recently featured the city’s most desirable and stunning Penthouse apartments. From the elegant to the jaw-dropping these highlighted properties go beyond their accommodations and offer a chance to live amidst the famous New York City skyline.

Sky Lofts
Designed by James Carpenter this Art-Deco loft once broke the record for highest-priced Manhattan apartment south of the Columbus Circle at $30 million (only to be out done by a $50.9 million sale of the Walker Tower apartment). Currently offered for $48 million this has only enhanced its already stunning features including four-bedrooms, 22ft ceilings, 2 burning fireplaces, and a 4,500 square foot wraparound terrace.




Baccarat Hotel and Residences
This five-bedroom, duplex penthouse is poised to be the crown jewel of the yet-to-be-completed Baccarat Hotel and Residence building on 53rd Street. This penthouse offers more than just the top two floors of the luxury hotel/condo building but also 360 degree views, double-sided fireplaces, a 602 square foot loggia,solid white-oak plank floors, custom-designed staircase with Lido marble treads and glass railing, double-sided fireplaces in the living room and master suit, and Victoria + Albert soaking tub.


The Clarendon
The purchase of this $38 million property offers the ability to live in the remnants of history. Once a part of William Randolph Heart’s famous quintuplex, this 17-room, four floor property offers an 800 square foot combination dining room and living room, seven bedrooms, and five terraces. With unique architectural amenities such as curved walls and vaulted ceilings this property’s charm and history make it one of the city’s most desirable penthouses.


Carhart Mansion
This 10-room duplex with a rich history sits atop the Amory S. Carhart Mansion at 3 East 95th Street. Outfitted with both modern and traditional features 5 bedrooms, 4 wood burning fireplaces, a 13-by-23 foot dressing room this property is unique in the competitive New York market. Not only is the inside stunning, but also the outside offering more than 5,200 square feet of outdoor space.



56 Leonard Street

Designed by Pritzker Prize-winning architect Herzog & de Meuron, 56 Leonard Street is a deconstructed skyscraper that has been likened to the popular game “Jenga” for its cantilevered floors, each one different from the floor above and below. The building will feature 8 full-floor penthouses and 2 half-floor penthouses that will include 14-foot ceilings, floor-to-ceilings windows, 700 square feet of private outdoor space.


State-of-the-Art Tennis Stadium Comes to West Virginia

By Caitlin Flynn

The Greenbrier, the iconic destination resort set on 10,000 private acres in the foothills of West Virginia’s Allegheny Mountains, announced that it has broken ground on a new state-of-the-art, 2,500-seat tennis stadium, to be completed in June 2015.

Set on the banks of Howard’s Creek on the resort’s grounds, Center Court at Creekside is a 46,000-square-foot tennis facility designed by Detroit-based ROSSETTI architects.  The stadium will be built in a unique U-shaped bowl configuration to maximize the sweeping views of the creek, the historic Old White TPC championship golf course (home to the resort’s annual PGA TOUR FedExCup event, The Greenbrier Classic) and the Allegheny Mountains beyond.  The design also allows for a multi-functional plaza between the creek and the stadium court, which can accommodate courtside hospitality tents and additional grandstand seating.

“It’s been a real pleasure to match the rich sporting heritage at The Greenbrier with a unique professional-level stadium to enhance the tennis viewing experience for patrons,” said Matt Rossetti, President of ROSSETTI.  “The beautiful natural setting is a real asset to the design that we don’t normally encounter.”

“We are so excited to be able to take the already top-of-the-line tennis facilities at The Greenbrier to a whole new level,” says Jim Justice, Owner and Chairman of The Greenbrier.




Sotheby’s International to Sell Stunning $125 Million Estate

By Caitlin Flynn

The 237-acre historic estate, located in Montecito, Calif., is the exclusive listing of Sotheby’s International Realty, Inc. With over 30 rooms spanning approximately 29,000 square feet, the estate is offered at $125 million by Harry Kolb and Suzanne Perkins, sales associates affiliated with the Sotheby’s International Realty Montecito Brokerage.

“For nearly 100 years this Monterey Colonial has been under the ownership of one family,” said Kolb. “It is our honor to be charged with listing this spectacular estate in one of the most exclusive sections of Southern California.”

Oak paneled rooms feature moldings, finials and mantle pieces taken from a manor home in Great Britain in the 1920s. With its ocean-viewing south terrace, the oversized living room features two fireplaces and crystal chandeliers. A secret hallway leads from the light-filled library to the living room where a hidden door opens to reveal a staircase that descends to an authentic English whisky pub.

“This extraordinary property was designed in 1931 by master architect Reginald Johnson, who was the pre-eminent architect of the era,” said Perkins. “His architectural ingenuity is no better showcased than in his brilliant use of the natural slope and contours of the property, offering panoramic vistas across the valley to the Pacific.”

The large master suite enjoys both ocean and mountain views and features a fireplace, period décor, oversized bath tiled in a deco motif, dressing room with numerous built-in closets and spa-size bathroom with separate dressing area.

One important feature of the property is its uninterrupted access to water via seven agricultural water meters and three water storage reservoirs. The property receives 50 percent of a water diversion system from adjacent Romero Creek that is piped directly into the reservoirs.