A historic estate in Carmel, California designed by famed builder M.J. Murphy has recently been listed for a staggering $35 million — and it’s making waves as one of the priciest homes in the idyllic coastal community.
Located along the prestigious Scenic Road in Carmel, the luxurious Spanish-style mansion, aptly named Villa Del Mar (which translates into Sea Villa), boasts uninterrupted oceanfront views, grand interiors, and a lot three times the average size for the area.
It also has the potential to set a new record if it sells anywhere near the asking price.
And we have little doubt that it will, as the real estate agent that holds the listing — Tim Allen — is the same one who delivered last year’s record sale (the Butterfly House, sold for a whopping $29 million).
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What $35 million buys you in Carmel
So, what does shelling out a cool $35 million net you in the quaint-yet-pricey town of Carmel? Quite a bit, as it turns out.
We’re talking a sprawling 5,529 square feet of luxury living space that’s perched on an oceanfront lot triple the size of your average Carmel pad.
With five bedrooms, six and a half bathrooms, and not one, not two, but three cozy fireplaces, Villa Del Mar has plenty to offer its future owners.
And the location is simply unbeatable. Imagine having Carmel Beach as your front yard, with downtown’s chic cafes and boutiques just a stroll away. This isn’t just a home; it’s a slice of coastal heaven with a VIP pass to Carmel’s top spots.
An M.J. Murphy Legacy Home
Crafted in 1928 by none other than M.J. Murphy, a master builder who literally shaped early Carmel-by-the-Sea with his architectural prowess, this home is a true legacy estate.
Murphy, known for erecting nearly 350 buildings between 1902 and 1940, certainly left his mark, and this home is a testament to his legacy. It’s not just a structure; it’s a piece of history.
Sophisticated interiors
From the grand entrance with its spiraling staircase and custom iron chandelier to the formal dining room ready for swanky gatherings, every corner screams elegance. The heart of the home, a lavishly updated kitchen, can accommodate even the most demanding chef.
The Spanish influences continue inside
As you wander through, you’ll notice the Spanish vibes aren’t just confined to the architecture.
Arched doorways, ornate tiles, and sumptuous furnishings all echo the Mediterranean spirit. Each room is a leaf out of a design magazine, adorned with intricate chandeliers and floral motifs that just beckon you to stay a while longer.
Rooms open up to uninterrupted ocean views
Nearly every room here frames a picture-perfect snapshot of the Pacific, turning every moment into a tranquil retreat. Whether you’re waking up to the soft sounds of the waves or enjoying a sunset, it’s all about the views.
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Outdoor amenities
Outside, the extravagance continues. A private pool, surrounded by lush gardens, offers a secluded oasis. Fancy a pizza? There’s an outdoor oven ready for those alfresco dining adventures. Plus, a spacious terrace lets you entertain or unwind with the ocean as your backdrop.
One of Carmel’s most expensive homes
One of the priciest homes to ever hit the market in Carmel, and nearly matching the price of the historic DL James house Brad Pitt owns nearby, Villa Del Mar has all the potential to beat the record set last year by the Butterfly House, which sold for a hefty $29 million.
Especially with real estate wizard Tim Allen of Tim Allen Properties Team (with Coldwell Banker Realty in Northern California) at the helm. Remember him? He’s the one who brokered last year’s top sale.
Listing held by a record-breaking realtor
Speaking of Tim Allen, having the same powerhouse realtor who managed last year’s record sale means this listing might just set new highs. If history is any indicator, we might be witnessing another milestone in Carmel’s real estate saga.
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Miami’s ultra-exclusive Fisher Island has unveiled its latest real estate offering — a $27,995,000 mansion in the upscale Valencia Estates community — and it’s as eye-catching as the exquisite tropical retreat in which it is located.
One of only 7 homes built at the Valencia Estates, the Parisian-inspired mansion at 6915 Valencia Drive stands out as one of the few similar offerings on Fisher Island, where condos and penthouses are far more common than single-family residences.
It’s also one of the priciest. But it has all the perks to justify its nearly $28 million asking price, including a location that places it mere minutes from the former Vanderbilt retreat on Fisher Island, now a world-class country club.
That’s right, for those unfamiliar with the area, Fisher Island boasts a prestigious country club that’s been home to the Vanderbilts, Julia Roberts, Oprah Winfrey, and handfuls of other upper-echelon residents throughout the years.
Its private beaches, resort-style amenities, and world-class restaurants are only accessible by ferry or private yacht and available to those lucky enough to snag a spot on the coveted yet highly exclusive guestlist.
The recently listed mansion lies in an even more elite part of the already exclusive island — Valencia Estates — which offers a formidable alternative to the sea of condos and penthouses as the only completed community of homes on the 216-acre private island. At least until The Links estates (which are currently being developed on the island) are completed.
With 6 bedrooms and 9 full baths spanning over 9,400 square feet, every corner of the home exudes sophistication and luxury, seamlessly integrating Parisian-style influence within its tropical surroundings.
A lush exterior alludes to the elegant spread that awaits inside.
Lofty ceilings in the foyer and living space countered by more enclosed spaces offer a cozy yet decadent feel all at the same time.
The impeccable details of the chic property are what set it a step above. Every room features a distinct style yet still achieves a cohesive feel that exudes unparalleled and timeless taste.
Craftful finishes like ornate chandeliers, marble tiling, and elegant crown molding tie the space together and elevate it from your run-of-the-mill mansion to an artful masterpiece.
From the wet bar to the formal dining room, breakfast nook, and marble waterfall island, the future estate owner can savor each meal of the day with a different yet equally impressive view of the glamorous home and its pristine surroundings.
Upstairs, golden light filters through paneled French doors that open to a covered terrace overlooking the community’s scenic deep-water marina and condos beyond.
Meanwhile, the boutique-style master suite boasts distinctive masculine and feminine elements to appeal to the next Mr. and Mrs. 6915 Valencia Dr.
Tasteful wallpapers give each bedroom a unique splash of personality, which is balanced by the soothing, zen-like views of the coconut palms outside.
Outside, an exotic enclave features an outdoor kitchen and bar with various seating areas ideal for sipping fruity cocktails under the Florida sun. A heated pool with a cabana sauna and spa adds to the element of self-pampering luxury.
Fisher Island’s expert agent, Tatyana Ionin of Coldwell Banker Realty, is currently listing the high-end home along with several other equally stunning multi-million dollar properties in the area.
One of the priciest homes in Paradise — aka Miami’s prestigious Fisher Island — just listed for $28 Million originally appeared on Fancy Pants Homes.
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With its world-class golf courses, scenic beauty and natural landscapes, and high degree of privacy and exclusivity, the small coastal residential community of Pebble Beach is a magnet for affluent homebuyers.
And said deep-pocketed buyers have more choices to pick from, as a meticulously renovated private estate — sitting on a generous 3.16-acre lot — has recently landed on the market.
Priced at a hefty $39,000,000, the Pebble Beach property is currently the most expensive active listing in the unincorporated community on the Monterey Peninsula. And it has all the attributes to back its sky-high asking price.
Owned by WeatherTech founder and CEO (and automotive accessories tycoon) David MacNeil, the Pebble Beach estate is as impressive as its price point would imply.
Built in 2000 and fully renovated in 2023, the property has nearly 7,500 interior square feet on a 3.16-acre lot and includes seven bedrooms, eight full bathrooms, and two half-bathrooms.
“I was fortunate to purchase this property at the beginning of the pandemic before the prices of properties had skyrocketed,” MacNeil says, before commenting on the property’s extensive renovation spearheaded by Monterey-based Holdren + Lietzke Architecture.
“This home has been modernized and opened up with more windows and access to the outside. It was renovated from top to bottom, both inside and outside with the finest finishes by Monterey-based Holdren + Lietzke Architecture,” MacNeil added.
Inside upgrades include the addition of a chef’s kitchen with custom cabinetry, three dishwashers and Wolf appliances, a 1,000-bottle temperature-controlled wine room, a laundry room with three sets of Miele commercial-grade washers and dryers, a billiards room, custom walnut and stone floors, and six fireplaces.
In addition, the property was updated with a copper roof, a backup battery system, a Lutron lighting system, an Axis security system, and geothermal heating and cooling systems.
The outdoor recreational areas have not been overlooked in the renovation process.
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Extensive landscape design completed in 2023 included adding a 30,000-gallon water collection and storage tank to reclaim water for landscaping use.
There’s also a built-in BBQ, dining and seating areas, hot tub, lower yard with putting green, tournament-ready bocce ball court with two firepits and built-in seating, and a pergola with solar panels.
Why would the WeatherTech founder part ways with his beautifully updated Pebble Beach house?
Talking about his decision to sell, MacNeal shares “Since I predominantly use another property in the vicinity when I spend time on the West Coast, I have made the difficult decision to put this property on the market for the next owners to thoroughly enjoy. The real estate market is lacking properties and I feel fortunate that I can pass this one on to someone else who can share it with their family and friends.
And he picked the best local realtor to find the right buyer.
The property’s real estate agent — Tim Allen of Tim Allen Properties Team, affiliated with Coldwell Banker Realty — is no stranger to selling multi-million dollar homes in the area for record amounts.
With nearly four decades of real estate sales experience under his belt, Allen was the #2 individual Coldwell Banker agent for 2022 sales (out of approximately 100,000 agents worldwide) and helped close some of 2023’s biggest real estate sales for the area, including the $29 million sale of the Butterly House in Carmel-by-the-Sea and the $22 million sale of architect Frank Lloyd Wright’s only oceanfront home in Carmel.
“The ultra-luxury market on the Peninsula remains strong, and we were fortunate to represent the buyers in two other iconic, historic local sales in 2023, a Frank Lloyd Wright-designed house and The Butterfly House, the latter of which was a record high for Carmel-by-the-Sea,” Allen says.
And he seems confident that the Pebble Beach house will also sell for top dollar.
“This architectural masterpiece provides a stunning setting for relaxation and magnificent views from its coastal Pebble Beach location. The house and property were completely reimagined and rebuilt to the highest quality, offering something unique and special to the market that had not been previously available,” the real estate agent adds.
Situated near the famous Pebble Beach Resorts, this property offers stunning views of Carmel Bay, Point Lobos, and the Pacific Ocean. Its location provides easy access to renowned golf courses, exclusive clubs, and the village of Carmel-by-the-Sea.
And just in case potential future owners need an extra reason to move to this idyllic area, we hear Brad Pitt lives nearby, in the historic DL James house (which also commanded a sale price somewhere around the $40 million mark).
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Florida’s luxury real estate market is heating up like a jet ski on a hot summer day. And three smart South Florida neighbors decided to cash in on that.
According to the Wall Street Journal, Jorge Luis Garcia, former owner of Orlando Family Physicians, and his adjoining neighbors, Juan Miguel Almeida and Adria Adrian Almeida are listing their Palm Island properties for a combined $150,000,000.
The three waterfront properties — adjacent to each other — are located on the 82-acre gated Palm Island, a man-made island in Biscayne Bay, Florida famous for its Latin Quarter nightclub, which was owned by Barbara Walters’ father, Lou, and is said to have been frequented by the likes of Frank Sinatra and Jane Russell.
Garcia reportedly owns two of the $50 million properties, with his neighbors owning the other, and they’re selling them as a package deal. But even if they were to list independently, the asking prices stand out for the area, as Palm Island’s record sale price for a single-family residence is $32 million.
But combining the properties definitely adds to the appeal of the offering.
Beyond bringing their ocean frontage up to 300 feet, the offering allows the right buyer to acquire several existing, already-built properties together — an option that’s becoming increasingly rare in greater Miami.
So let’s take a closer look at each of the three South Florida properties, currently offered as a package deal for a whopping $150 million.
#1 190 Palm Ave, Miami Beach
The largest of the three residences, 190 Palm Avenue offers 12,386 square feet of luxuriously appointed living space.
With a total of 7 bedrooms, 8 bathrooms, and 3 half bathrooms, the stately house pairs Mediterranean-style architecture with elegant, modern interiors.
#2 198 Palm Avenue, Miami Beach
While just a tad smaller than the neighboring house, at 11,650 square feet, 198 Palm Avenue is equally luxurious.
This one comes with 8 bedrooms, 9 full baths and 2 half baths, and sits on a 30,000-square-foot lot.
#3 210 Palm Avenue, Miami Beach
The third and last house has similar characteristics, clocking in at 11,349 square feet, with 6 bedrooms, 8.5 bathrooms, and a 30,000 sq. ft. lot.
Just like its neighbors, it has 100 feet of ocean frontage and has been meticulously appointed with the finest luxury finishes.
And while the trio of properties currently stands as one of the priciest residential listings in all of Florida, surpassed only by $187 million newly built mansion in Palm Beach, they wouldn’t set a new state record even if they were to sell at full ask.
The record for the most expensive home sale in Florida is held by billionaire Larry Ellison’s $173 million purchase of the Gemini mansion, the former Ziff family estate in Manalapan.
Nevertheless, the future sale will likely set a record for Palm Island, and bring this Miami Beach enclave into the spotlight, alongside more hyped areas like Star Island or Indian Creek, both holding headlines recently due to notable sales. Spearheading the efforts to make that a reality is Cesar Powell with Coldwell Banker Realty Miami Beach, who holds the listing.
And while the sellers aren’t at all interested in splitting it into three separate listings, we’d be remiss if we didn’t ask: Which one of the three properties do you like the most?
The article Three neighboring properties in Miami Beach eye $150 million sale first appeared on Fancy Pants Homes.
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The most expensive homes in the United States experienced the highest rate of depreciation in 2007, according to Zillow’s Q4 Home Value report released today.
The real estate analysis company broke down the U.S. housing market and 125 Metropolitan Statistical Areas into five value bands, including bottom, lower middle, middle, upper middle, and top.
They found that the top band experienced a home price decline of 7.5 percent from 2006, while the bottom band only saw home prices depreciate 0.7 percent.
Additionally, homes in the bottom and lower middle quintiles returned the highest rates of annualized growth at 10.1 percent and 8.4 percent, respectively, over the last five years.
At the same time, higher valued homes outperformed lower valued homes in nearly half of the top MSAs in places like San Francisco, Los Angeles, New York, and Boston.
But cheaper homes outperformed more expensive properties in select MSAs like Chicago, Detroit, Seattle, and Baltimore, so the trend really varies by region.
However, Zillow found that regardless of location, owners of cheaper homes have much less equity than those with more expensive homes, which can be attributed to smaller down payments from the former.
Homeowners who purchased a home last year placed a median down payment of 10 percent and have nine percent of their original investment, leaving 30.4 percent with negative equity.
Comparatively, owners in the bottom quintile placed a median down payment of 3.2 percent and have home equity of just three percent, leaving a whopping 43 percent with negative equity.
Owners in the top quintile came in with 20 percent down and have median equity of more than 20 percent, with just 16.9 percent in the negative equity trap.
Roughly 30 minutes south of Dallas, in the heart of Waxahachie, Texas — the county seat for Ellis County, affectionately known as “The Crossroads of Texas” — lies a 5-acre estate that just hit the market with a record-setting price.
Listed for $10 million, the luxury home boasts the highest listing price in Waxahachie and all of Ellis County and has the potential to become the most expensive home ever sold in the area.
James Strength and Karen Cuskey-Hartman with Coldwell Banker Realty Dallas hold the listing.
Waxahachie is one of the best places to live in Texas
The record-setting listing doesn’t come as a huge surprise given Waxahachie’s rise in popularity.
The vibrant, authentic small-town Texas community — which has a population of about 48,000 residents — has a picture-perfect historic downtown district, a dense suburban feel, highly rated public schools, and plenty of parks, Waxahachie is celebrated as one of the most beautiful cities in the Lone Star State, with a very high quality of life.
But Waxahachie’s allure extends beyond its cultural and historical significance. The city is on the cusp of significant development, with Jerry Jones’ investment and development firm, Blue Star Land, leading the way.
The company plans on building a sprawling industrial center on a 120-acre site they acquired a while back. The 638,000-square-foot warehouse is meant to serve as an e-commerce fulfillment center for the renowned sports merchandise company Fanatics, a development sure to make an economic impact in the city — creating nearly 250 jobs and showcasing Waxahachie’s potential as a hub for economic growth.
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This venture is merely the initial step in what promises to be Blue Star Land’s first significant mixed-use development south of Dallas. Partnering with the Lincoln Property Company, Jerry Jones’ firm has outlined plans for the 120-acre site, which include a 70-acre business park that will incorporate residential, industrial, retail, and commercial buildings.
Waxahachie is also a worthy contender for the title of “Movie Capital of Texas”, with more than thirty motion pictures — including three Academy Award-winning films — having been shot in the city.
Most notably, the star-studded Places in the Heart (released in 1984 and starring John Malkovich, Sally Field, Danny Glover, and Ed Harris) was filmed here, as were Tender Mercies (1983), and The Trip to Bountiful (1985).
Most recently, the hit series 1883, The Bass Reeves Story, part of the Yellowstone saga, was filmed against the backdrop of Waxahachie’s picturesque streets and buildings.
A $10M mansion is the crown jewel of Waxahachie real estate
The sprawling luxury home sits on a tree-lined, 5-acre estate complete with a stocked pond and a 2,800-square-foot guest house.
Newly built in 2022, the mansion was meticulously designed with work and family life balance in mind. All in all, the property offers an impressive total of 22,000 square feet of lavish living space, with some of the finest amenities money can buy.
The majestic main residence has 6 very large bedrooms with elegant ensuite baths and spacious walk-in closets.
It also has a grand office with its own separate entrance, and formal living and dining spaces that could easily entertain members of the royal family.
But the most striking feature of the Waxahachie house is its 65,000-gallon indoor pool and pool house, where we also find a gym with a sauna and a gourmet kitchen with stainless steel appliances that opens seamlessly to the pool area.
An 800-bottle wine room, craft and music rooms, and game and theater spaces round up the amenity list.
The grounds of the property are equally impressive, featuring a picture-perfect pond stocked with trophy fish, wide-mouth bass, channel catfish, and perch.
With so many celebrities moving to Texas, we wouldn’t be surprised to see this property land an A-list owner to take it off the market.
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Nestled among the rolling hills of Los Angeles, the legendary neighborhood of Bel Air has long been synonymous with opulence and seen as the pinnacle of West Coast luxury living.
And for good reason.
Located directly across from the iconic Sunset Boulevard, the world-famous enclave — whose very name is associated with lavish estates, Hollywood glamour, and understated affluence — continues to captivate both the privileged few and those who aspire to call it home.
Bel Air’s reputation as an exclusive haven for the world’s elite is well-earned, and its prestigious zip codes are graced with stunning architectural marvels, each a testament to the grandeur and sophistication that defines the area.
With bigger lots and more expensive residences than the equally famous Beverly Hills (which sits merely a few miles away), Bel Air effortlessly combines the allure of old-world charm with the comforts of contemporary living.
The reasons behind Bel Air’s enduring appeal are as diverse as the people who are drawn to its lush landscapes and private estates.
Breathtaking canyon views, impeccably manicured gardens, and a sense of seclusion rarely found in the midst of a bustling metropolis are just some of the factors that make this neighborhood an aspirational address for many.
The allure of Bel Air isn’t solely about its extravagant homes; it’s about the lifestyle it offers — a unique blend of tranquility and proximity to the cultural heartbeat of Los Angeles.
Bel Air mansions for sale
Today, we’ll explore a curated list of the most extravagant mansions currently on the market in Bel Air, each a testament to the neighborhood’s unmatched desirability and exclusivity.
These residences are more than just houses; they represent a way of life that is the envy of the world. Join me as we embark on a journey through the opulent world of Bel Air real estate, where luxury knows no bounds.
#1 755 Sarbonne Road, Bel Air – $39,900,000
Villa Sarbonne, one of the most impressive Bel Air houses currently up for grabs, sits mere minutes away from the neighborhood’s famous The One mansion — developer Nile Niami’s record-breaking project, which was once listed for $500 million.
With an impressive 15,000 square feet of ultra-luxurious living space, Villa Sarbonne has 6 bedrooms, 10 baths, and a long list of amenities.
To name just a few, 755 Sarbonne Road features a private wine cellar, home theater, library, a gourmet home kitchen, and a separate chef’s kitchen, as well as a wellness center with a travertine-clad steam room.
Stand-out features include a sculptural staircase and a 5,000+ sq. ft. terrace with panoramic city-to-ocean views.
The property is listed with Kurt Rappaport at Westside Estate Agency, who shares the listing with The Agency founder Mauricio Umansky and Farrah Brittany, also with The Agency.
#2 10702 Levico Way, Bel Air, California – $30,950,000
This quintessential Bel Air mansion sits in the ultra-exclusive, guard-gated community of Levico Estates, on a massive 4.3-acre lot.
Featuring over 12,000 square feet with every conceivable amenity, the luxury property has 6 bedrooms, 9 baths, a stunning 2-story entry, a large living room, a library/office, a gourmet kitchen with family room, a gorgeous primary suite with dual baths and closets, a gym, and a wine cellar.
And while the opulent interiors definitely caught our eye, the amenity list continues as we step outside, where the generous 4+ acre lot has everything from an outdoor loggia to a pool house, championship tennis court, large lawns, and gardens — all opening up to 360-degree city and canyon views.
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The trophy property at 10702 Levico Way is listed with Kurt Rappaport of Westside Estate Agency.
#3 1740 Bel Air Rd – $19,900,000
As the listing puts it, this “masterpiece of artful design nestled in the secluded hills of Bel Air… immediately transports you to a level of world-class beauty, serenity, and tranquility from the moment you enter the privately gated driveway.”
Built in 2014, the massive 11,246-square-foot home sits on a generous one-acre lot located just a short drive from world-class luxury shopping, fine dining, and entertainment venues.
With 7 bedrooms, 10 baths, a beautifully appointed open-concept living space, and floor-to-ceiling windows that showcase killer views, the property at 1740 Bel Air Rd is rightfully touted as a private sanctuary.
The inviting living room fireplace, the spacious chef’s kitchen with an oversized island, slab natural stone countertops, and custom natural wood cabinetry all against a canyon backdrop, the spa-like primary suite, the indulgent home theater with bar, and studio, are all spaces where every detail has been carefully curated to evoke a sense of calm livability.
Outside, the property is equally impressive, with lush landscaping and mature trees that provide privacy and seclusion.
The luxury property is listed with Tomer Fridman of The Fridman Group at Compass.
#4 10901 Chalon Road – $16,495,000
In prime Bel Air, nestled behind mature Pepper trees and lush California landscaping, sits a 9,000-square-foot contemporary marvel with bespoke interiors by KNA Design and tranquil outdoor entertaining spaces.
The gated 6 bed/8 bath private residence boasts upscale finishes throughout (including oak wood, glass, natural honed stone and organic textures) and embodies California’s indoor-outdoor living to perfection.
With an elegant formal living room with a floor-to-ceiling marble fireplace and built-in-bar, vaulted ceilings, sky-high windows, and sliding doors that open into the expansive backyard, the Bel Air mansion also features a formal dining room with a walk-in wine closet and a showstopping kitchen with a large marble-clad center island and cozy breakfast nook.
The 10901 Chalon Road property also has a double-height ceiling living room upstairs, which connects four of the bedrooms, and a spacious primary suite that overlooks views of Bel Air from a private balcony connecting to the wellness area below.
The property is listed with David Parnes and James Harris (Bond Street Partners) and Monique Navarro with The Agency.
#5 14319 W Mulholland Drive – $8,350,000
A newly built contemporary home perched in the Bel Air mountaintop at the end of a winding, privately gated driveway, is looking for a buyer. And we doubt it will have any issues finding one, as the 4,500-square-foot home is quite the stunner.
With three bedrooms, four baths, a grand double wooden staircase separated by a glass walkway, upper-level tranquil gardens with lounge areas, and a rooftop garden area, the 2023-built home is far from your ordinary home.
The lower level hosts a generously sized living space where we find the great room, a wet bar for entertaining, and an impeccably designed chef’s kitchen — that boasts a sleek, contemporary dark color palette and custom stacked cabinetry.
Outside, we find a true backyard oasis with several seating areas, an infinity edge pool, an al fresco dining area, and a custom built-in bar.
And while it’s hard to believe that this is the most affordable property out of all the beautiful Bel Air mansions we went over today, it’s the only one that sports a price tag under $10 million. Listed for $8,350,000, 14319 W Mulholland Drive is repped by Tomer Fridman with the Fridman Group at Compass.
All the above Bel Air mansions for sale are representative of the caliber of homes in the sought-after Los Angeles neighborhood. And we’ll be keeping an eye out for new listings popping up on the market, as well as notable sales in the area, to provide you with a comprehensive resource on the most extraordinary Bel Air houses making moves on the Los Angeles real estate scene.
If you’re a real estate professional with equally impressive listings in the Bel Air area, you can reach out to us at [email protected] and submit them for consideration.
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In the heart of Missouri, overlooking the idyllic Lake of the Ozarks, the Midwest’s premier lake resort destination, a spectacular turnkey home is looking for new owners.
Inspired by the New England architecture style prevalent in Nantucket, MA, the 6,800+ square-foot home has rightfully been dubbed Nantucket Point and stands as the crown jewel of the Lake.
Listed for $13,000,000 (Andrea Sanders & Colleen Lawler with Coldwell Banker Realty and The Kelly Bennett Team at EXP Realty share the listing), the sprawling property is one of the most expensive homes for sale in the entire state of Missouri. And it has all the bells and whistles to justify its high price point.
With 6 bedrooms, 6 full baths and 2 half-baths, Nantucket Point sits on a one-of-a-kind 1.24-acre lot with 500′ of shoreline with seawall, deep water, and views of the main channel.
Offering an extra generous 6,811 square feet of living space, the Nantucket-inspired estate is filled with laid-back luxury, coastal design, and hidden passageways leading to tucked-away spaces.
Every room has a view of lush landscaping and the sparkling lake, and each is more inviting than the next. The house’s bright, light-flooded spaces are matched by the property’s equally-impressive outdoor areas — which offer more than 3,000 square feet of outdoor living space, including a covered patio, a wraparound deck, and a veranda with its own fireplace.
There’s also an infinity pool just steps away from the lake and two docks for boating enthusiasts, one of which boasting two slips, jet ski lifts, and even a kitchenette.
If the house sells anywhere near its asking price, it’ll undoubtedly become one of the most notable sales in the entire state of Missouri.
Just a few months ago, a St. Louis-area estate traded hands for $13 million, making it not only the biggest dollar amount for a home in the St. Louis area, but one of the priciest deals ever recorded in Missouri. Nantucket Point has all the potential to match that sale, so we’ll be keeping our eye on this one.
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In sunny Malibu, a newly developed neighborhood is shaping up to become the priciest and most exclusive community in the country. Dubbed The Case, the five-home, guard-gated community sits on a 24-acre bluff that’s hailed as one of Malibu’s absolute best locations.
So much so, that developer Scott Gillen paid $50 million for the land alone back in 2017, breaking local records: it was the highest price ever paid for undeveloped land in the city.
On his newly acquired land, Gillen set out to build 5 extraordinary homes, each priced between $70 million and $115 million. The first fully completed home at The Case in Malibu was the 10,527-square-foot The Edge, which landed on the market with a bang at the beginning of the year — asking $70 million.
Now, it’s time for us to take a look at another spectacular house from Gillen’s ambitious project: the $95 million Butterfly House.
Named after its butterfly roof, the striking luxury home offers more than 10,000 square feet of ultra-luxurious living space and sits on 3 flat acres of prime Malibu land with unparalleled ocean views.
Related: 17 Biggest celebrities that live in Malibu & their million-dollar homes
“The Butterfly is located at the end of Case Court overlooking the Malibu Colony and Surfrider Beach and you can see the surf breaking, with entire Santa Monica Bay unfolding with views that extend to Palos Verdes and Catalina Island with twinkling city lights at night,” developer Scott Gillen said of his newly-unveiled project, adding that “The Case is literally 2 minutes from the best shopping and dining in Malibu and the design and construction of the homes at The Case are incomparable.”
Combining world-class, modern architecture with the surrounding natural beauty of the Malibu cliffs and coastline, the Butterfly House is the epitome of luxury living in an idyllic coastal setting.
Perched on the tip of a 24-acre promontory to provide panoramic views of the Malibu coastline and vistas of the famous Queen’s Necklace, the property is accessed via two sets of guarded gates that lead visitors and future residents onto a 250-foot driveway.
All in all, the luxury property has a total of 7 bedrooms and 8 baths, spread across the main house (which has 4 en-suite bedrooms) and a separate guest house.
The open-concept great room seamlessly combines the kitchen, family, and living room, creating an inviting space for relaxation and entertainment. The custom Bulthaup kitchen has been equipped with Gaggenau and Miele appliances and features a separate prep kitchen, perfect for cooking enthusiasts.
The Butterfly House’s dramatic primary suite is a true sanctuary, featuring a cozy fireplace, a luxurious bathroom with poured terrazzo floors, a massive, oversized closet, and even a private outdoor spa. An additional media room provides extra entertainment space.
Adding to its Iron Man house vibes, the Butterfly House also features a gym and bathroom below the pool area and an underground 3-car garage with a motor court capable of accommodating over a dozen vehicles.
Heading outside, we find a massive 133-foot infinity pool that makes the most out of its oceanside location and that comes with a spa and fire features.
Listed for $95 million with Westside Estate Agency’s Stephen Shapiro and Kurt Rappaport (the agent who reportedly arranged Beyoncé and Jay-Z’s record-breaking $200 million Malibu house purchase just a few months back) this extraordinary home is one of California’s priciest listings.
Surpassed only by a handful of properties, including another Malibu showstopper — former Disney CEO Michael Eisner’s estate, listed for $195 million (!) — and late TV producer Aaron Spelling’s The Manor, listed for $155 million, the Butterfly House, much like its neighboring homes at The Case, is a status symbol. And we’re looking forward to seeing who its lucky owner will be.
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Real estate transactions topped $13 billion in value in the first half of this year, with a plurality of the sales concentrated within the top income bracket encompassing the luxury market, data provided by Realtors Association of Jamaica shows.
However, the data, which spanned four income groupings, also shows that once combined, the majority of the sales are within the middle- to high-income block.
In that regard, the data comports with information from members of the banking sector, several of which have said that for them, the demand for home loans is manifested mostly in the middle tier of the market.
But while the banks have said business is fairly robust notwithstanding the uptick in mortgage rates, the data from the RAJ Multiple Listing Service indicates that residential real estate transactions are on the decline.
For all of 2022, the Realtors Association reported that there were 1,608 transactions worth nearly $108 billion spanning the four categories of residential real estate. But that is down from 1,858 transactions valued at $211 billion the previous year.
According to real estate brokers and financiers of home purchases, the current functional definition of middle-income residences relates to homes priced within the $15 million to $25 million range, while high-income residences are priced at $25 million to $45 million.
Most of the demand was said by different banks to be coming from young professionals.
The Realtors Association’s listing service captured 287 real estate transactions from January to June of this year, valued at $13.27 billion.
Broken down into four categories, the most lucrative side of the market and the area with the highest demand related to the most expensive homes.
In the under-$15 million category, RAJ reported that there were 76 transactions valued at $731 million at half-year 2023; in the middle income or $15 million to $25 million band, there were 68 deals valued at $5.2 billion; for those in the $25 million to $35 million range, there were 49 transactions valued at nearly $1.44 billion; while at the top end of the spectrum, for residences costing over $35 million, there were 94 transactions valued at $5.89 billion.
CIBC First Caribbean Jamaica, which once operated a building society but merged it into its wider operations years ago, said the bank has seen a 28 per cent increase in the number of applications for mortgages in the first five months of 2023, relative to last year, and consequently, it has been distributing more home loans in line with demand.
“Approval percentages for the corresponding periods during 2022 and 2023 were 73.33 per cent and 82.46 per cent, respectively,” CIBC FirstCaribbean said regarding the performance of the mortgage market.
And that is within a context where financing charges are 0.5 percentage point higher than last year, the bank said. The loan applications it received mostly related to apartments and single-home properties.
The most recent data published by the Bank of Jamaica, BOJ, shows that after a yearlong period of steady then incrementally small movements, mortgage loan rates have spiked to a three-year high, at 7.76 per cent as of May. That is up 56 basis points since January when mortgage loans were priced at an average of 7.2 per cent.
JMMB Bank says most of the demand for its home loans relates to properties falling within a band of $14 million to $35 million.
“This segment largely consists of young professionals who are first time homeowners taking advantage of the increased NHT loan ceiling which stood at $6.5 million since 2019 and is set to increase to $7.5 million, per single applicant in July 2023,” JMMB Bank’s General Manager of Bank Client Partnership Moya Leiba-Barnes, told the Financial Gleaner back in June. The NHT has since announced the increase in the loan ceiling, effective July 1.
Partnership agreements
“In response to the demand in this segment, JMMB Bank has forged several partnership agreements with developers, some of whom have received financing for their construction projects through JMMB Bank, in keeping with its end-to-end financing of real estate projects,” said Leiba-Barnes.
In May, JMMB Bank adjusted all its variable interest rate loans, including residential mortgages, by up to 1.75 per cent for retail clients, in response to the series of interest rate hikes that the central bank had executed for more than a year. The central bank’s policy rate has rested at 7.0 per cent since last November, but it is coming from a historic low of 0.5 per cent nearly two years ago when the BOJ shifted towards monetary tightening as a check on inflation.
Financing for majority mid-income properties is reflective of recent trends. The central bank, in a review of the mortgage market published in the latest BOJ Financial Stability Report, said acquisition of houses and apartments were mainly financed by banking institutions, inclusive of banks and mortgage banks, and spanned properties priced mainly in the range of $15 million to $30 million, during the period April 2019 to March 2021.
There were also outlier purchases of properties in excess of $60 million, which were spread across all institutions, “suggesting low concentration in high-value real estate,” the central bank stated.
Across all price ranges, the greater share of loan funding was for the purchase of houses, inclusive of apartments priced mainly at $15 million to $30 million, and scheme residences priced below $15 million.
“This was consistent with the affordable housing solutions established in the parish of St Catherine and indicative of joint financing arrangements with other institutions namely the National Housing Trust,” the central bank said.
It added that notwithstanding the spike in mortgage activity, the banks appeared to have a fairly good handle on managing the risk. Since mid-2020, the central bank said that asset quality improved sharply relative to the overall loan portfolio of banking institutions while credit quality was high, with the level of ‘performing’ mortgage loans at March 2022 estimated at 93 per cent of mortgage portfolios.