Yoga on the beach anyone? Agent Chris Cortazzo is betting Malibu, Calif.’s famed yoga, surfing, flip-flop culture will entice a deep-pocked buyer to pony up for a new construction he is listing there. “Our lifestyle is outside. You could be in London and have a beautiful place, but if you can’t just be outdoors in a t-shirt and flip-flops, it’s a whole different lifestyle,” says Cortazzo of Coldwell Banker. “There’s sophistication to it, but also a casualness.”
Not casual? The home’s $57.5 million price tag.
The median sale price for a single-family home in Malibu was $2.8 million in the first quarter of 2017, according to appraiser Miller Samuel, up 14.3% year-over-year. Sales volume was up 20%, while inventory was flat. The local average price per square foot was $1,061.
At over 8,000 square-feet, the home is near three times the size of the typical home build in America today. However, it is small for the price tag. At more than $7,000 per square foot, the home is asking more than five times the local average for homes sold and 50% higher than the per square foot price of the most expensive Malibu sale for which that figure is known.
Such sky-high per square foot asks are more common in Manhattan, where the average is $1,778 but the top 10% of the market averages $3,157. Manhattan’s highest price ever achieved–$100.47 million for a 10,923 square foot penthouse–worked out to about $9,200 a square foot.
Malibu’s highest ever sale closed in early May, when billionaire David Geffen sold a compound on the opposite side of town for $85 million. Public records do not show that home’s size either. The previous record, set in 2013, was $75 million. At about 20,000 square feet, that home went for $3,750 a square foot.
The ask is high, but the never-lived in home is a beauty.
The build was completed last year and the Cape Cod-inspired compound hit the market in January. The main home has six bedrooms, seven bathrooms and one half-bath. A separate guest house has an additional bedroom and bathroom. Situated on 1.72 acres the home boasts panoramic ocean views and beach access. There’s also a 70 by 25 foot pool and an outdoor pizza kitchen. “It’s just completely luxurious, and it’s ready to have a large party,” says Cortazzo.
Public records shield the identity of the owner of 33740 Pacific Coast Hwy. Cortazzo will not disclose the owner, but says it was built to sell. The current owner bought the property from Marta Kauffman, co-creator of the sitcom “Friends,” in 2007 for $10.7 million.
There are at least three more expensive properties publicly on the market in the beach-enclave right now. One house, located less than a mile away at 33218 Pacific Coast Hwy, is asking $60 million. A vacant plot is also asking $60 million. And a newly constructed modernist mansion recently listed for $80 million.
Cortazzo thinks Malibu is just getting started, “I’ve never been so busy. I think people are understanding the value of Malibu, the lifestyle that Malibu has to offer, and it is really exciting to see it kick in.” He claims buyers who in the past would have bought in the Hamptons–New Yorkers’ favorite high-end beach getaway–are now looking to Malibu.
Jonathan Miller, CEO of Miller Samuel offers a different perspective: “Is Malibu having a moment? I feel like what it is doing is benefiting from some of what we are seeing at the high end of the market [nationally]. We are seeing more sellers becoming in sync with market conditions which leads to more sales.”
This international team of eclectic architects and designers turn architecture into art and give clients, ideal movie style homes, unsurpassed anywhere in the world.
They think out of the box, bring new meaning to the word ‘wow” and have developed a luxury name on a par with any super yacht designer. It could be a minimalist house in England, a tropical villa in the West Indies or a modern luxury super home in California. If you seek the best, then Asetti are the designers to provide it.
‘They bring new meaning to the word “wow”.’
Founded by international luxury designer Chris Clayton, Asetti has a wonderful new addition, with a new partner and senior architect in the way of legend Arthur Dyson. One of the only architects to have been under the tutelage of legendary American architect Frank Lloyd Wright, gaining further recognition with 200 architectural awards including the American Institute of Architects (AIA), Presidential Award (2006) and The Lifetime Achievement Award (2014). With Arthur’s unsurpassed experience and Chris’s exceptional creative abilities, Asetti are the perfect dream team.
International luxury designer Chris Clayton
Partner and senior architect in the way of legend Arthur Dyson
They share a common goal and that is to create stylish homes of worldwide significance, genuine beauty and timeless luxury. To bestow upon the client a unique work of art and a beautiful home, they love to live in; a luxury home that was created with loving care and dedication to perfection. The clients see it, they feel it and they know it. It is an Asetti design and a design that only Asetti can create. This is the ethos of Asetti.
Here are just a few of their spectacular new designs. You can see more at their web site www.asetti.com
Atlantis by Asetti
Recent super house designs include the amazing ‘Atlantis’. An incredible 5,000 sqm (53,819.55 sq.ft) luxury super home. Briana James in the Premier Luxury Lifestyle Magazine ‘Dolce Vita Diamond’, called it the most beautiful house design in the world today. It comes with 10 Presidential suites, a boat dock under the home and a whole myriad of luxury features. Simply overflows with the ‘wow’ factor.
Luna by Asetti
‘Luna’ is one of their most recent and available as a design for the discerning client looking for that extra something special. Originally conceived, as a hill top home overlooking Los Angeles. Striking, modern and extremely cool this home is the ideal pad for those who seek a fashionable lifestyle and a fabulous place to call home.
Utopia by Asetti – The James Bond House, as it has fondly referred to by many.
What makes Asetti’s designs so fascinating is the depth to which they research and craft the end result. The passion and imagination that goes into each one is mind blowing. You are not only getting a unique architectural design, but one that pushes the levels to whole new artistic heights. They literally have, taken home design, turned the industry on its head and created a whole new level of luxury lifestyle. By doing this, they have turned architecture into art and invented the super home.
Eden by Asetti – Inspired by a tropical paradise location and the fabulous home seen in the 1960’s TV show, Thunderbirds.
Arthur’s Stunning ‘Hilton Residence’ in Florida, is one of the truly great examples of organic design in the world today. Photographs courtesy of David Swann.
Eclipse by Asetti
The Lake House by Asetti
If you fancy living a unique luxury lifestyle or would like a dream home to match the yacht, then you can contact Asetti via their website www.asetti.com
Source: Luxury News Online
Breaking records as the most expensive home ever to be listed in the United States—and easily one of the most expensive homes in the world—this newly built, $250 million estate in Bel Air is a theme park of designer names, bespoke leathers and fabrics, and one-off pieces. Every detail of the 38,000-square-foot home was meticulously curated to create an experience that is purely Hollywood, and one that developer Bruce Makowsky says was inspired by yachts. “People pay $100 to $200 million for their yacht, but were content paying only $30 million for the home that they live in everyday,” explains Makowsky. “The real estate market wasn’t keeping up.”
The spec estate’s four stories are stacked in a horseshoe shape around a centralized 85-foot infinity pool and 17,000-square-foot entertainment space, which is visually reminiscent of the decks aboard a ship. And similar to a yachting experience, everything you need is at your fingertips. Just beyond the pool is a row of canary palm trees and a quintessential view of Los Angeles, sweeping from Santa Monica Beach to downtown L.A. A hydraulic 18-by-10-foot television, guarded by two eye-catching metallic crocodile sculptures, seemingly rises from the pool’s depth at the touch of a button. Flanking the pool on one side is a hair salon and spa and an outdoor pavilion with a bar on the other.
Overall, the bright, open-aired spaces boast two master suites (one with what Makowsky believes is the largest hot tub ever built), 10 oversized guest suites, 21 bathrooms, five bars, two wine cellars, a gym with Technogym equipment, three gourmet kitchens (one with a beautifully restored vintage Berkel deli slicer), and three dining areas (one of which features a custom-made Fendi dining table and Roberto Cavalli tableware). Downstairs the fun continues with a four-lane bowling alley with Louis Vuitton decor; a massive candy selection; Teckell Ping-Pong, pool, and foosball tables; a 40-seat 4K Dolby Atmos theater; and a $30 million auto gallery with 10 motorcycles, including an electric Lito Green Motion Sora, and 12 cars, featuring a limited-edition Bugatti Veyron, a 1936 50K Mercedes Benz, and a Pagani Huayra.
Sold turnkey, the estate also comes with an extensive collection of artwork. Highlights include an oversized metallic sculpture of a Leica camera by Chinese artist Liao Yibai, a vertical pinball machine made from Veuve Clicquot Champagne bottles, and framed Rock Royalty custom guitars. Not to be forgotten is a functional Hobie 16 catamaran and an original Bell 222A helicopter from the television series Airwolf that has been restored with orange Hermès and Louis Vuitton leather.
Source: Robb Report