Wednesday, November 20, 2013

Largest home for sale in Broward will be auctioned Dec. 8

If you need a house that stretches across east and west wings, a massive McMansion — said to be the largest home for sale in Broward — will be auctioned off on Dec. 8.

The 23,576-square-foot, custom-built home on 10 acres features seven bedrooms, eight full baths and two half baths. It boasts inlaid Italian marble and cathedral-style ceilings, and comes with a guest house, four-car garage, and statues and objects of art from all over the world.

“The finish work on the inside is the most amazing, with 30-foot high ceilings, chandeliers. It’s just magnificent,” said Jim Gall, president of Auction Company of America, hired to auction off the home, which was listed a year ago for $10 million.
    
“You can literally get lost in it,” said Gall, who says it is largest home he has ever auctioned.

A two-day auction at the home, at 13811 Luray Road in Southwest Ranches, begins at 11 a.m. on Dec. 7 and includes art, jewelry and other items. It will continue at 1 p.m. on Dec. 8, culminating with the sale of the home at 3 p.m. Previews will be conducted on several days, beginning on Nov. 17.

Gall said he plans to start the bidding on the house at $5 million.

Homeowner Ray Moses said he and his wife, Pam, spent five years building the mansion after buying the property, which was formerly used as a horse boarding facility. Broward County property records show they paid $2,225,000 for the acreage in 2003.

Moses said the home was his wife’s dream.

“She wanted to do this, and who am I to say no?” said Moses, 69, who is in the childcare business and owns five daycare centers in Broward.

Moses said his wife decorated the home, and sat with Delray Beach architect Rick Brautigan to design it. The couple spent $1 million on Italian-made drapery and window treatments, and more than another $1 million on crystal chandeliers. Now, the couple, whose children are grown, plan to downsize. They’ll probably buy a home nearby, Moses said.

“I like the country, and I like to have a lot of tropical fruit trees,” he said. “I still want somewhere where I can swear without the neighbors hearing me.”
Source: http://www.miamiherald.com/2013/11/06/3736235/largest-home-for-sale-in-broward.html

icordle@MiamiHerald.com


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Read more here: http://www.miamiherald.com/2013/11/06/3736235/largest-home-for-sale-in-broward.html#storylink=cpy

Thursday, November 14, 2013

Miami cracks Top 10 luxury residential markets

Miami’s in with the in-crowd, tastemakers say, debuting on Christie’s International Real Estate’s list of top 10 luxury residential markets.

The real estate arm of the iconic auction house publishes a global research report of trends across the world’s prime real estate markets, tracking spending patterns among wealthy buyers.

And this year for the first time it named Miami as one of the cities where the rich not only play but also stay.

“Miami is on everybody’s radar across the world,” said Ron Shuffield, president and CEO of Esslinger-Wooten-Maxwell Realtors, an affiliate of Christie’s International Real Estate. “We have a lot of people coming here to spend their money and enjoy what we have.”

In naming the choicest markets, Christie’s selection criteria included cities’ gross domestic product; number of billionaire residents; their tally of Fortune 500 company headquarters; performance on S&P/Case-Shiller Home Price indices; position on the AT Kearny Global Cities Index; ranking on Swiss bank UBS’ list of most expensive cities; Globalization and World Cities Research Network rankings; and the presence of a Christie’s affiliate.

Emerging as the most attractive cities for the rich: Dallas, Hong Kong, London, Los Angeles, Miami, New York, Paris, San Francisco and Toronto. Côte d’Azur, also called the French Riviera, even though not a city, also made the list, “added to this elite survey group for being one of Europe’s most highly prized second-home destinations for more than a century.”

“As the only real estate network owned by a fine-art auction house, Christie’s International Real Estate has unparalleled access to the [high-net-worth individuals] around the globe who procure assets such as art, wine, jewelry and, of course, luxury real estate,” said Bonnie Stone Sellers, Christie’s International Real Estate CEO. “Together with the collective knowledge of its 125 affiliated real estate brokerages in 41 countries… Christie’s International Real Estate is uniquely qualified to understand the characteristics and trends associated with the prestige real estate market.”
And observers say Miami has cultivated the cachet to draw these buyers.

Helping its appealing: An emerging cultural offering that now includes the internationally renowned Miami City Ballet, the Miami Symphony Orchestra, major art museums and world-class food, art and cultural festivals.

Add to that plans to draw boaters, coupled with the area’s luxury retail outlets, daily flights to major world centers and a growing financial services sector, and it’s clear Miami allows wealthy homebuyers access to choice recreation and international business centers, Mr. Shuffield said.
“And as trite as it sounds,” he said, “the weather is still a big draw.”

Source: http://www.miamitodaynews.com/2013/11/13/miami-cracks-top-10-luxury-residential-markets/

Written by on November 13, 2013

Wednesday, November 13, 2013

Genting tears down ex-Herald facade, adjacent garage

The Malaysia-based Genting Group has torn down the entrance to the former Miami Herald building and a two-story parking garage next door as they prep to build their mixed-use mega-development set for the site.

Genting plans a five-star hotel, luxury condos, restaurants, retail and an 800-foot promenade along 14 bayfront acres. The initial proposal called for an $3.8 billion casino, but that has been significantly scaled back. State legislators have yet to grant Genting a gambling license for Downtown Miami, according to the South Florida Business Journal.

Last month, Genting moved into the Omni Offices building at 1501 Biscayne Boulevard next door to the construction site, as previously reported.

Genting paid $236 million for the former Herald site. The newspaper moved from its former downtown location to Doral in May. [South Florida Business Journal]Mark Maurer