Luxury Living Group, the Italian lifestyle company that produces and distributes furniture collections for Fendi Casa, Kenzo Maison, Bentley Home, as well as its own signature line Heritage and others has found a new home in New York City’s Midtown East. The showroom held its grand-opening party last week.

Spanning two floors, the 11,000-square-foot showroom offers everything from decorative lighting, sofas, storage units, mirrors, to bed linens, kitchen counters, and pianos. The lower level includes a wall of home accessories, featuring items such as the Fendi Casa Lapin Rex pillow in a number of colors- one standout being an intensely hued Fendi-esque yellow. Other focal points of the showroom include the mirror-like Regina Bronzed Glass Coffee Tables from Fendi and Heritage’s Orient Express Suitcase Cabinet featuring faux mini suitcases that pull out instead of drawers.

The star of Luxury Living’s New York location is clearly Fendi Casa. With over 300 models, all of which are completely customizable in color, material and stitching, Fendi fills sizable portion of the showroom. “We can really customize anything,” said Raffaella Vignatelli, U.S. President of Fendi Casa, “From the size to the color to the set-up in your home. The customers want something unique and luxurious.”

For now, Fendi Casa and Kitchen, Bentley Home, and Heritage Collection are the only lines included in the New York based showroom, but the company plans to expand by adding more luxury brands in the near future. Luxury Living New York, located at 153 Madison Avenue, is the brand’s third location in the U.S.

Written By: Kristen Bateman

In 2016, the Empire State Development Corporation gave a tour of Penn Station to many large landlords and builders to submit proposals to overhaul the station by improving the facility, upgrading the interior spaces and entrances, adding new retail, building a large glass opening on Eighth street…

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The Dutchess County property of Michelle-Marie Heinemann includes an elaborately decorated, roughly 32,000-square-foot home with an art gallery​; ‘tiny homes’ for staff in upstate New York

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Socialite Michelle-Marie Heinemann said she spent two decades creating an elaborate estate in Dutchess County, N.Y. Now she’s looking to sell her creation for $30 million.

In Wappingers Falls, Ms. Heinemann purchased a 6,000-square-foot house for $440,000 in 1998 and expanded it to more than 32,000 square feet. Now it includes nine bedrooms, 11 bathrooms, five half-bathrooms, two libraries, a basketball court, a three-story solarium and an art gallery. “It’s been like a little baby in a cradle,” she said. “It’s been loved, adored and respected and, as a result, it’s grown.”

The staff lives in three so-called “tiny houses” on the roughly 25-acre property. The homes, which range in size from 550 to 675 square feet, were commissioned by Ms. Heinemann after she came across the “tiny home” phenomenon on a trip to Switzerland. The homes must be decorated in a minimalist fashion, since they are so small. “I had to exercise a lot of restraint,” she said.

Ms. Heinemann is the founder of a lifestyle brand called Old Fashioned Mom, which she said aims to apply old-fashioned values of traditional motherhood while remaining “au courant” in a modern world. The New York-based company produces a magazine and a video series, and plans to open coffee shops in New York City and London’s Mayfair neighborhood, Ms. Heinemann said.

Ms. Heinemann said she is selling because she wants to spend more time in New York and London. “We have loved this house, but life is about growing and evolving,” she said.

Michelle-Marie Heinemann 

New York City-based socialite, philanthropist, artist and Old Fashioned Mom CEO Michelle-Marie Heinemann has listed her 32,000-square-foot estate on 25-plus acres located at 1111 Route 376 in Wappingers Falls (Dutchess County), New York for $30M.

The colonial mansion includes nine bedrooms, eleven bathrooms, five half-baths, a solarium, two libraries, eight wood-burning fireplaces, two kitchens, a wine cellar, an ice rink, a home theatre, multiple verandas, and an art gallery. There is an 8,000 square foot veranda with panoramic views of the sculpture gardens. Also on the property is a 3-car garage above which sits an artist’s studio. The mansion displays an eclectic mix of antiques, keepsakes and cherished artwork (Ms. Heinemann is also an accomplished artist). The manicured property includes seven formal gardens, two swimming pools (indoor and outdoor) with pool cabana, a tennis court, a basketball court, three playgrounds and an English conservatory.

This magnificent estate offers year-round zen living while conveniently located to all major shopping. Unlike any residence ever seen in the History of Real Estate, this one-of-a-kind masterpiece is awaiting for that one client seeking grand and extraordinary! Prepare to fall in love!

For more information, please contact Douglas Elliman’s Anthony Debellis (914-618-1737).

Written By: Danor Aliz

BY MICHELLE COLMAN

Last month, New York City had its first cryptocurrency real estate closing. The next week, an owner of the Plaza floated the idea of selling a “Plaza Token” to a group of foreign investors. Now, hedge fund founder and tech investor Claudio Guazzoni de Zanett, the owner of the landmarked townhouse at 10 East 76th Street, is asking one price in US dollars and a higher value in digital currencies due to their volatility. He is willing to accept bitcoin, Ethereum or Ripple. “I’m a true believer in these networks, but it’s very volatile,” Zanett told the Wall Street Journal. “They could be down 60% in two weeks.”

Mr. de Zanett, the owner of the hedge fund Zanett Asset Management, was a Blockchain seed and angel investor. He purchased the six-story Beaux-Arts townhouse back in 1994. For 24 years, the mansion served as a “family compound” for Mr. Zanett’s family, which allowed for extended family and close friends to live together under the same roof and yet, living separately with a certain amount of privacy.

Zanett and his wife Julia were fined $8,000 last March for listing rooms in the home online as rental units. The couple has listed as many as five units at a time on property websites, such as HomeAway and VRBO, for short-term stays starting at about $500. New York State law forbids short-term rentals in multiple-unit buildings for fewer than 30 days unless the owner is also living in the rented unit.

The limestone mansion boasts 12,380 interior square feet, 2,500 exterior square feet, and 13-foot majestic ceilings. The home was built in 1904 by architects Schwartz and Gross, renowned for building The Mark and The Surrey hotels. Today, it’s zoned for residential or residential with professional space on the garden floor. Beyond the reception gallery, through a private door, leads to what was formerly three professional offices.

There are 12 working wood-burning fireplaces, including two outdoor fireplaces located on the sixth floor, and roof terraces that have 360-degree views of Manhattan’s skyline.

The expansive Lower Level is built-out the full length and width of the building lot and has a laundry facility, staff room quarters, storage, mechanical storage and a vast vault under the sidewalk that partially extends underneath East 76th Street.

As 6sqft recently explained, “The digital nature of cryptocurrencies makes [real estate] transactions much faster. It can be completed in minutes or hours.” Let’s see how long this property stays on the market…

[Listing: 10 East 76th Street by Carrie Chiang of the Corcoran Group]

[Listing: 10 East 76th Street by Valerie Lettan of Douglas Elliman]

By: Michelle-Marie Heinemann

Billionaire scoops up most expensive house in Dallas:

By Jennifer Chininis

Tom Hicks, with the help of high-profile listing agent Allie Beth Allman, finally landed a buyer for his Preston Hollow estate: billionaire Andy Beal, founder of Plano-based Beal Bank. Asking price had been $100 million for the 25-acre property.

Candy’s Dirt founder and CultureMap contributor Candy Evans says that Beal had been eyeing the Trammell Crow estate, a historic, 6-acre gem in Highland Park.

Allman sold the home to Hicks and his wife, Cinda, back in 1997, after which they began a multimillion-dollar renovation. The work took nearly three years to complete.
Evans toured the compound back in March 2015, including the 28,000-square-foot main house and 3,347-square-foot guest house. “The approach to the private gates of 10000 Hollow Way Rd. feels more like a drive through the French countryside to a fabulous chateau deep in the heart of the forest. It’s hard to believe this is just seconds from the Dallas North Tollway and less than 10 minutes from downtown,” she wrote.

The estate overlooks a forest of trees and a creek. The property also features meadows, trails, pond, rose and vegetable gardens, greenhouse, two courtyards lined with 16 magnolia trees each, tennis court, and helipad.

“The most expensive sale in Dallas prior to this was closer to $20 million,” Allman told the Dallas Morning News. “It’s my understanding that is the largest sale ever in Texas for a residential property.”

Contrary to popular belief, Christmas is an ideal time to buy, with properties left on the market in the lead up to the festive season and less potential buyers trawling real estate sites.

Agents say end-of-year vendors get to the point where they just want to sell, but realize people are on holidays. The result is they’ll flip their house for less.

That’s good news for potential home buyers repeatedly outbid by cashed-up investors this year in capital cities where auction clearance rates have clocked record highs.

TV real estate expert Bryce Holdaway says savvy buyers go against the trend and house hunt when the others aren’t looking – that’s this month and January.

“As the buyer, you generally hold all the cards at this time,” says Mr Holdaway, host of Location Location Location.

“Once December rolls around, the competition is thinking more about Christmas approaching than they are about embarking on a major decision like a property purchase. And this is where you can take advantage.

“Buyers tend to get reluctant to buy close to Christmas … they’ll deal with it, along with the other new year resolutions, next year. Understandably, the vendor can become quite desperate to secure a deal.”

Even in Sydney where auction clearance rates have nudged 90 per cent this year, there will be bargains in the next few weeks.

Properties are going to auction right up until the weekend before Christmas, when the crowds of competitive buyers are sure to diminish.

You won’t have to contend with the massive auction crowds in December and January. Source: News Limited

“People are keen to sell before the New Year and capitalize on the active market that we’re currently in,” Roger Agha, principal of Devine Real Estate said.

What’s more, a recent investor sell-off in some prime Sydney suburbs could spook vendors into quick sales, with fears of the market slowing in 2014 making them more open to negotiations in the coming weeks.

It can be more difficult to sell in January with professionals required to finalize contracts often on holidays, further motivating vendors.

January also is generally a slow month for builders and contractors. With most people on holidays and factories closed for the break, this makes it a good time to negotiate fees on new homes.

Xmas cheer for buyers

Less people looking equals less competition, which means greater flexibility in negotiations and a better chance at securing a bargain.

Another great outcome of buying at this time of year is that settlement will often be in January or February – peak rental time.

Holidays will potentially increase condition and settlement times and the longer you control a property in a rising market without actually owning it the better.

A top time to sell?

On the flipside, real estate expert Andrew Winter says the festive season can also be the optimum time to sell.

“Demand however, can vary from area to area. Inner city and urban areas may close down as residents disappear to the coast,” Mr Winter says.

“Coastal areas, the country, even the outer burbs can shine during this festive season as numbers swell with visitors who can be tempted by the dream of a lifestyle change.

Mr Winter, host of Selling Houses Australia, advises vendors to consider their situation carefully at this time of year.

“Just adding days to your listing time is pointless and can have a negative impact on buyer’s perception of your home if the area shuts down.

“There’s also school holiday syndrome to consider if with time off, the kids want to turn the living room into a massive sleep out zone.

“Plus the detritus of Christmas wrapping ensuring your home looks like Myer at the end of the first day of the sales.”

Buyers looking for properties during the holidays are usually serious about purchasing and this could lead to a quick sale.

Most buyers want to be able to move in before a new year begins.

If you’re in an area that has an increased holiday population, competition between buyers may increase, this could lead to offers that are higher than your original asking price.

The 23-story Serrador building in Rio de Janeiro

At opposite ends of downtown Rio de Janeiro, projects tied to Donald Trump and Eike Batista— one a billionaire-turned-politician, the other Brazil’s most famous ex-billionaire — have come to represent the city’s real estate bust.

The 23-story Serrador building, a granite-and-glass art deco tower near Rio’s Santos Dumont airport, has sat empty since Batista’s failed empire of commodities companies abandoned it last year. Four miles away, in the city’s gritty port district, an ambitious office project that Trump lent his name to is still nothing more than a weed-filled lot about a year after construction was slated to begin.

While real estate markets are faltering across this recession-plagued country, nowhere is the toll from a sweeping national corruption scandal and commodities collapse more apparent than in Rio. To make matters worse, a flood of new office units that were planned during the boom years of the past decade are now hitting the market, pushing Rio’s high-end vacancies to the most in Latin America. Rents that were once on par with New York and Paris are tumbling.

“Rio is going through a very delicate moment,” said Ricardo Raoul, a managing director at Paladin Realty Partners LLC, a property fund with about 12 billion reais ($3.2 billion) in projects in Brazil. “There’s an increase of inventories together with a lack of demand.”

In Leblon, a seaside neighborhood with views of the Christ the Redeemer statue that houses many of the city’s hedge fund managers, office rents have plunged by a third since early 2014. Even more if you price the leases in dollars — about 60 percent. In Barra da Tijuca, an up-and-coming neighborhood on the city’s outskirts, phone company Tim Participacoes SA was able to negotiate two years of free rent for its new headquarters in a glass tower with palm trees out front, according to a regulatory filing.

Residential property prices in Brazil’s top 20 cities fell in August from July, the first drop since at least 2008, with Rio leading the declines, according to real estate index FipeZap. Prices of Brazilian properties rose 3.3 percent in the past 12 months, about 6 percentage points below inflation, resulting in a decline in real terms.

Rio monthly office rents fell to 135 reais per square meter — or about $3.32 per square foot — in the second quarter, said CBRE Group Inc., the world’s biggest commercial real estate services company. That’s about half the price of New York and Paris and is down from a peak of 150 reais in early 2013, or almost $7 per square foot based on the exchange rate at the time. Meanwhile, vacancies have jumped to 23 percent from less than 3 percent at the end of 2010.

Like so many of the city’s problems, this one too can be traced to the double blow of the scandal at state-run oil giant Petroleo Brasileiro SA and the slump in crude prices. Petrobras halted new business deals with about 30 suppliers after an investigation found evidence of kickbacks to win contracts, forcing at least seven companies with large operations in the city to file for bankruptcy protection. Standard & Poor’s stripped the country of its investment-grade credit rating Wednesday, citing in part the political fallout from the corruption scandal. The real fell 1.8 percent to 3.8494 per dollar at 2:12 p.m. on Thursday.

Other oil companies are scaling back in Rio after prices more than halved in the past 12 months. Statoil ASA, the Norwegian oil company, gave back one of the seven floors it was occupying in the Manchete building. Trondheim, Norway-based Sintef, a research foundation for the energy industry, is leaving Rio altogether.

“A good portion of the market was based on the oil industry,” said Raul Correa, a partner at commercial agent Office International Realty who has been following the price drop in swanky districts like Leblon. “Now a lot of them are retreating.”

At the site of the future Trump Towers Rio, a 5 billion-real project announced in 2012, several run-down warehouses jut out from the overgrown brush. There are no signs of development anywhere. Stefan Ivanov, chief executive officer of the project that bought the rights to use Trump’s name, said it’s still in the planning phase.

“There are various real-estate projects under elaboration in Rio de Janeiro that are taking more time than originally anticipated to bring to construction,” he said in an e-mailed response to questions. He declined to comment on the timing of the project or if the budget is being adjusted.

In the nearby Porto Maravilha district, a flood of new projects that’s part of an effort to revive the area ahead of the 2016 Olympic Games will only add to the oversupply, Paladin’s Raoul said.

A recovery in the market will take time, he cautions. A very long time — as in wait until 2019.

“The outlook,” he says, “is very negative.”

By Juan Pablo Spinetto