#coldwell banker palm beach gardens

[brightwaypainting]

Community Events and Home Shows

[walterfrodriguez]

Developers and brokerages are getting creative for Art Basel

(Credit: Redwood Media Group)

(Credit: Danielle Margherite)

(Credit: Danielle Margherite)

Les Lalanne at The Raleigh Gardens

(Credit: Redwood Media Group)

Keith Haring wrapped train

PAL-V Pioneer Flying Car prototype

Neighborhood Commission 2019: Pink Beats by Fernando Laposse

Yes, Art Basel is about the art. But there’s far more going on.

This week, real estate and art converge in Miami as developers, brokerages, architects and hotels will showcase their luxury projects to the upscale crowd.

Brokerage firms are sponsoring art fairs, condo projects will have parties and exhibits — one will include a flying car — architects are showcasing their work. Meanwhile, museums and hotels are offering soirees during the event: Art Basel Miami Beach and Art Week.

Even Brightline is getting in on the action, wrapping a train with Keith Haring art in conjunction with a museum.

Here are some of the real estate-related events scheduled, with some are open to the public, some require tickets and and some are invitation only:

Paramount Miami Worldcenter Paramount Miami Worldcenter, the recently completed condominium tower that plans a Skyport on its 58th floor, is unveiling a prototype of the world’s first flying car along with its contemporary art collection.

The exhibit, “Miami 2020 and Beyond” will feature the PAL-V (Personal Air Landing Vehicle) Pioneer flying car a contemporary art collection including “Red World” by artist Steven Manolis, and “Miami Vice” and “Moons Over Miami” by Miami graffiti artist Ahol Sniffs Glue. The Dutch-made PAL-V Pioneer — already in production and selling for $599,000 — is equipped with retractable overhead and rear propellers and tail wings, and can cruise at an altitude up to 12,500 feet.

Magic City Innovation District The Magic City Innovation District is unveiling BaseCamp, an interactive art park in Little Haiti. The park will feature programming that includes live shows, Haitian and Caribbean music, yoga, meditation, community talks and art installations.

The 18-acre, 7.8 million-square-foot mixed-use development is expected to eventually include,630 residential units, 432 hotel rooms, 2 million square feet of office space, 350,000 square feet of retail, and four acres of public open space. The developers are Plaza Equity Partners, led by Neil Fairman; Miami developer and real estate broker Tony Cho; and Cirque du Soleil co-founder Guy Laliberte.

Les Lalanne at The Raleigh Gardens Developer Michael Shvo recently unveiled his Lalanne exhibit behind the Raleigh hotel in Miami Beach ahead of Miami Art Week.

Les LaLanne at The Raleigh Gardens, at 1775 Collins Avenue, features tropical landscaping and sculptures by the late French artists. It’s open to the public from noon to 8 p.m. Shvo is planning a major redevelopment of the Raleigh and surrounding hotels, including a new tower to be built behind the properties, fronting the beach. The New York developer, along with Bilgili Group and Deutsche Finance Group, paid about $243 million for the Raleigh, Richmond Hotel and the South Seas Hotel.

The Miami Design District has an array of exhibitions, including: Pink Beasts by Fernando Laposse and Versace’s South Beach Stories. The Design District chose Mexican designer Fernando Laposse for the 2019 Neighborhood Commission. The installation consists of strands of pink sisal tassels suspended through the trees guiding visitors to discover a collection of pink hairy sloths hanging from ropes, trees and arches. In collaboration with designer Angela Damman, the installation also incorporates 10 sculptural hammocks which will hang on metal structures and directly on palm trees for public use.

A new exhibition by Versace and interior designer Sasha Bikoff will debut in the Design District’s Palm Court. Drawing inspiration from the brand’s heritage, one-of-a-kind furniture pieces designed by Bikoff will be displayed together with the archive looks they reference. Versace’s Miami Design District boutique will also showcase three settings designed by Sasha, first presented at FuoriSalone during Milan Design Week 2019.

Douglas Elliman at Art Basel Douglas Elliman’s development marketing arm is the show partner at Art Basel Miami Beach for the seventh year. It will showcase its new developments in the Collectors Lounge as well as its partnership with Knight Frank. Elliman will also release its annual art issue of Elliman Magazine.

Mirador 1200 A penthouse at the Mirador 1200 Condo, listed by Coldwell Banker affiliated agent Sandra Debuire for $3.9 million, will have a mural painted in celebration of Art Basel.

Muralist Olan Kalnis will paint the mural on the wall of the unit’s 5,000-square-foot panoramic rooftop. The unit is composed of two joined penthouse suites at the condo at 1200 West Avenue in Miami Beach.

Pinta Miami One Sotheby’s International Realty is the real estate sponsor of Pinta Miami, the 13th annual Latin American art fair. This year, Pinta is being held at Mana Wynwood and will have 60 galleries on display from Latin America, the U.S. and Europe.

Villa Valencia is among the One Sotheby’s projects that will be showcased at Pinta. Location Ventures is developing Villa Valencia, a 13-story, 39-unit condo project at 515 Valencia Avenue in Coral Gables.

Red Dot Miami and Spectrum Miami Cervera Real Estate is a cultural partner of Red Dot Miami and Spectrum Miami, also at Mana Wynwood. This year, it is not sponsoring the art fair but will be a cultural partner, giving Red Dot and Spectrum access to its broker and associate network.

El Espacio 23 Developer and art collector Jorge Pérez recently opened El Espacio 23, an art gallery in Allapattah. The 28,000-square-foot space will house the Jorge M. Pérez Collection.

Brightline Brightline, in partnership with Miami’s Rubell Museum, debuted a special Keith Haring wrapped train to kick off Art Week Miami. The train is wrapped with images from Haring’s work in the museum’s collection, with additional Haring imagery on display at Brightline’s West Palm Beach station.

To celebrate the museum’s opening on Wednesday, Brightline will offer special Haring-illustrated tickets and free admission to the museum with proof of ridership.

Prairie Residence As part of DesignMiami’s events, architect Rene Gonzalez will lead a private tour of the Prairie Residence where environmental challenges like sea-level rise were taken into consideration to create a luxury private residence.

Gonzalez’s work integrates tropical gardens and interiors with an elevated architecture. The curatorial effort includes the work of Vincenzo De Cotiis, Emmanuel Babled, Germans Ermiçs, Mauricio Del Valle, and artists such as Jose Dávila, Sinisa Kukec, and Darío Escobar.

Brickell City Centre Brickell City Centre will host Conversations with Nature, an exhibit curated by Albie Alexander. It will showcase artists from across all mediums to explore humankind’s relationship with nature and invite guests to interact directly with original artwork, poetry, meditation and music by Basia Goszczynska, Yrsa Daley-Ward, Brittany Asch of BRRCH, Sarah Meyohas, LARAAJI and more.

East, Miami In collaboration with Argentine curator Ximena Caminos, EAST, Miami has joined with Miami-based artist Carlos Betancourt to create an installation, On the Edge: The Hopeful Forest. It will be on display in the lobby, featuring a series of totems made from repurposed, abandoned objects found in the surrounding community.

Shore Club South Beach Shore Club South Beach will display Rubem Robierb’s inaugural “Greta” sculpture, a 10-foot tall sculpture from the “Dream Machine Series.” It is a tribute to Greta Thunberg, the 16-year old, internationally recognized environmental activist.

SLS South Beach SLS South Beach and Los Angeles-based artist, Punk Me Tender, are collaborating to create an art display the hotel’s front entrance as well as wrap the resort’s two MOKE America cruisers on the front lawn of the beachfront property. In addition, Flore will exhibit “Lavish,” along with a 15-minute time lapse video projected onto the rear side of the building.

1 Hotel South Beach Created from 50,000 salvaged plastic bags — equal to the amount used in Florida every four minutes — and salvaged fishing nets, Basia Goszczynska’s Rainbow Cave will be featured at Drift, the 1 Hotel South Beach lobby bar.

Mana Contemporary Moishe Mana is hosting a series of exhibits in downtown Miami’s Flagler District for the third straight year. At the 777 International Mall building, at 145 East Flagler Street, artists will open up their studios to visitors, hosting daily performances and activations.

In Wynwood, Mana Contemporary has more than 300,000 feet of murals and over 50 artists participating in Miami Art Week. Decentralized, Superchief Gallery, and Mana Contemporary in partnership with Superchief Gallery will open three new gallery spaces. Mana is also hosting his annual birthday bash in Wynwood.

Wynwood The Wynwood Walls is celebrating its 10th anniversary. Goldman Properties released new murals at the Walls, at 2520 Northwest Second Avenue.

LeBron James’ Unknwn store opens at 261 Northwest 26th Street. James — the basketball superstar and former Miami Heat player — co-founded Unknwn with Jaron Kanfer and Frankie Walker Jr. The roughly 10,000-square-foot store includes 3,000 square feet of retail space and 4,000 square feet of courtyard space, designed by the firm New York Sunshine. David Edelstein owns the Wynwood building.

Diesel is unveiling its Wynwood development. The retailer will showcase a model unit via virtual reality with the company’s founder, Renzo Rosso, and Andrea Rosso, creative director. It will also unveil a collaboration with the retailer Bodega, which will have the Diesel x Bodega “Unofficial Basel Gift Shop.”

The Italian retail clothing’s Diesel Living line is partnering with Bel Invest Group, an international real estate investment company based in Vicenza, Italy, to build a 143-unit condominium complex at 115 to 161 Northwest 28th Street. The Wynwood Business Improvement District will convert Second Avenue into a pedestrian-only street to make artwork and murals more accessible between Friday and Sunday.

Italkraft, an Italian designer of kitchens, bathrooms, closets and doors, is celebrating the opening of its newest showroom in Wynwood in conjunction with the kick off of Art Basel. This showroom, now open to the public, features art from Ale Jordão, curated by Bia Duarte. Brazilian artist Ale Jordão creates art stemming from his exploration of the field between art and design.

The post Developers and brokerages are getting creative for Art Basel appeared first on The Real Deal Miami.

from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2019/12/03/developers-and-brokerages-are-getting-creative-for-art-basel/ via IFTTT

[joanabulger]

Marketing For Title Companies Treasure Island, Fl

Contents Island cswy apt 307 treasure Treasure coast title Public interest; promote Key west rental agencies Palm beach gardens Treasure Island FL Real Estate. Homes for You. 11655 3rd St E APT 8, Treasure Island, FL. Coldwell Banker Residential Real Estate – Longboat Key. Properties that may be coming to the market soon but are […]

The post Marketing For Title Companies Treasure Island, Fl appeared first on FermentationTrap.com.

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[topinforma]

New Post has been published on Mortgage News

New Post has been published on http://bit.ly/2hqvK3U

At $41 million, off-market home sale is Santa Monica's priciest ever

An off-market deal in Santa Monica not only topped the charts for L.A. County in the month of August but also set a price record for the Westside city.

$41,082,000 — Santa Monica

In a deal completed outside the Multiple Listing Service, a residence bordering the Riviera Country Club changed hands in the most expensive home sale historically in the city, public records show.

The property, which sits on an acre on Woodacres Road, previously sold as a vacant lot five years ago for $8.6 million.

Details of the house are scant, but building permits show that a two-story residence with a basement level was completed in 2015. Napa-based architectural firm Backen, Gillam and Kroeger, known for its winery estates and contemporary farmhouse designs, submitted plans for the new development in 2013.

A swimming pool, patios, lawns and mature trees make up the grounds. The pool is solar-heated, permits show.

Real estate sources with knowledge of the property identified the seller as a trust connected to Steven Levitan, co-creator of the sitcom “Modern Family.” The buyer, records show, is an entity with a tax address linked to Kevin L. Washington, the son of Montana-based billionaire industrialist Dennis Washington.

$19.95 million — Manhattan Beach

A Nantucket-style compound on Pacific Avenue sold for $19.95 million, a record for single-family home sales in the South Bay city.

The half-acre estate, found about half a mile from the beach, includes a 7,500-square-foot, 30-room main house, a guesthouse, a saline swimming pool and a basketball court. There are two wine cellars, and a subterranean lounge is equipped with a bar and cigar room.

The East Coast-inspired home in Manhattan Beach shares the half-acre lot with a saline swimming pool, a basketball court and a guest house.

(Strand Hill Properties / Christie’s International Real Estate)

Dave and Jennifer Caskey of Strand Hill Christie’s International Real Estate represented the buyer and the seller, both of which are local families.

High-priced sales have hit the stratosphere in Manhattan Beach this year. In May, a multifamily property sold for a record $21 million. There have been three sales of $18.4 million or more in the area so far this year.

$18 million — Holmby Hills

Singer-songwriter Adam Levine and his wife, model Behati Prinsloo, paid $18 million for a home abutting the Los Angeles Country Club.

Tucked behind walls and gates, the French Regency-style house was designed and built in 1966 by architect Caspar Ehmcke.

The gated estate in Holmby Hills was designed in French Regency style by architect Caspar Ehmcke.

(Nick Springett)

Features of the 9,200-square-foot house include a garden-view breakfast solarium, scaled formal rooms and an office/den. Two master suites are among the five bedrooms and 5.5 bathrooms.

Decking surrounds a quatrefoil-shaped swimming pool in the backyard. A pool house, a two-story guesthouse, a three-car garage and a gated motor court also lie within the fenced and gated grounds.

Linda May of Hilton & Hyland, an affiliate of Christie’s International Real Estate, was the listing agent. Kurt Rappaport of Westside Estate Agency represented the buyer.

$15.5 million — Beverly Hills

In the 600 block of North Palm Drive, a renovated estate once owned by dancer-choreographer Grover Dale sold for $445,000 less than the asking price of $15.995 million.

The five-bedroom, eight-bathroom house, reimagined by Standard Architecture, has a row of mature olive trees flanking a path that leads to the front door. Inside, the 8,500 square feet of living space features steel-cased windows, oak floors and beamed ceilings.

Stained-glass windows filter light in the living room, which has a stone fireplace. Arched windows look into a custom wine cellar.

A lounge area sits next to a tiled swimming pool in the backyard.

The seller was a development group headed by Woodbridge Luxury Homes Chief Executive Robert Shapiro. The group is seeking $180 million for Owlwood, the former Holmby Hills estate of Sonny Bono and Cher, which it acquired a year ago for $90 million.

Adam Rosenfeld and Justin Mandile of Mercer Vine were the listing agents. Steve Frankel of Coldwell Banker represented the buyer.

$14.5 million — Sherman Oaks

Actor-director-producer Tyler Perry bought a modern masterpiece — once listed for as much as $29.95 million — in gated Mulholland Estates for less than half the original asking price. The seller was the estate of Alfred E. Mann, the billionaire inventor and physicist who died last year at 90.

The modern mansion, built in 1992, sits on more than 4 acres in gated Mulholland Estates.

(Nick Springett)

Steel beams and walls of tempered glass form the dramatic shell of the home, which features overlapping slabs of marble and floating staircases. Pyramid-shaped skylights and angled ceilings create volume while bathing the 17,245 square feet of living space with natural light. There are seven bedrooms and 11 bathrooms.

A resort-style swimming pool, stream-fed koi pond, north-to-south tennis court and modern statuary make up more than 4 acres of grounds. A motor court sits off the entrance and has space for more than 30 vehicles.

Jeff Hyland of Hilton & Hyland, an affiliate of Christie’s International Real Estate, and Mauricio Umansky and Ninkey Dalton of the Agency were the listing agents. Josh and Matthew Altman, the Altman brothers of Douglas Elliman, represented the buyer.

CAPTION

Kid Rock recently sold his Balinese-inspired compound for $9.5 million, $2.1 million less than he paid for it in 2006, in a deal completed off-market.

Kid Rock recently sold his Balinese-inspired compound for $9.5 million, $2.1 million less than he paid for it in 2006, in a deal completed off-market.

CAPTION

Kid Rock recently sold his Balinese-inspired compound for $9.5 million, $2.1 million less than he paid for it in 2006, in a deal completed off-market.

Kid Rock recently sold his Balinese-inspired compound for $9.5 million, $2.1 million less than he paid for it in 2006, in a deal completed off-market.

CAPTION

The party-ready home in Marina del Rey is listed for sale at $3.799 million.

The party-ready home in Marina del Rey is listed for sale at $3.799 million.

CAPTION

Actor Phillip P. Keene has a good reason for hanging out in the downstairs den of his Los Feliz home.

Actor Phillip P. Keene has a good reason for hanging out in the downstairs den of his Los Feliz home.

CAPTION

The Tony winner’s prized possession in this room is her Steinway, but she keeps other items there that also inspire her.

The Tony winner’s prized possession in this room is her Steinway, but she keeps other items there that also inspire her.

CAPTION

Jillian Michaels retreats to the office in her Malibu home when she needs some kid-free space.

Jillian Michaels retreats to the office in her Malibu home when she needs some kid-free space.

neal.leitereg@latimes.com

Twitter: @LATHotProperty

MORE FROM HOT PROPERTY

Kendall Jenner sells modern Hollywood Hills mansion for $6.85 million

Hexagonal home designed by architect Roland Russell lists for $3.3 million

Former Steeler Rashard Mendenhall completes handoff of Santa Monica townhouse

[garynsmith]

The week in real estate industry deals: Feb. 27-March 3

http://ift.tt/2dEd4XC

While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.

We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.

We missed you last week!

SoFi, a modern finance company taking in the lending and wealth management sphere, announced it has entered into a definitive agreement to raise $500 million in Series F financing led by technology investor Silver Lake, bringing the the company’s total equity funding to $1.9 billion. “We’ve seen tremendous growth at SoFi because we know what people expect from their financial partner: they want speed, transparency, and alignment with their interests,” said Mike Cagney, SoFi co-founder, chairman, and CEO in a statement.

American Advisors Group (AAG) announced its designation as an approved reverse mortgage lender for United Real Estate, an innovative and fast-growing real estate and franchise company. As an approved lender, AAG will educate United agents on reverse mortgage loans to present senior clientele an additional financing solution for home purchase. “More than forty-three percent of our selling clients are baby boomers,” According said United Real Estate President, Peter Giese in a statement. “It’s critical to our growth, and to our ability to serve this large segment, that we are able to share the available tools to assist them through their real estate decision-making process.”

This week’s deals

February 27

South Carolina Realtors (19,000-plus members) has added zipLogix’s zipForm Plus Broker Edition to its transaction tools for managing multiple agents in various office locations from a secure, online workspace. Additionally, the interwoven zipTMS transaction management system’s Broker Dashboard empowers administrators with the ability to manage and monitor monthly transactions, agent activity, weekly tasks and quarterly performance. “One of the primary challenges that we’ve heard many brokers face is the ability to track agent activity and critical business metrics, which is why we developed the zipTMS Broker Dashboard,” said zipLogix Chairman Mark Peterson.

February 28

ERA Real Estate, a global franchising leader, announced the affiliation of The Fite Group Luxury Homes in Palm Beach, Florida. With three offices across Palm Beach County and 120 independent affiliated sales associates, the firm will now do business as The Fite Group Luxury Homes ERA Powered. “Our strong local brand will continue to distinguish us in our market as we tap into the power of ERA to bring our business to the next level and allow us to provide an even greater degree of service to our clients,” said Nadine Fite, chief marketing officer, in a statement.

DIY 360-degree virtual tour app immoviewer announced a partnership with KoaWare, a website builder for real estate professionals. Real estate pros can now integrate immoviewer’s 3D home tour software into their KoaWare website. This partnership also offers a simple solution for KoaWare customers to incorporate interactive 3D tour technology to their websites. KoaWare and immoviewer were both featured in Startup Alley at Inman Connect 2017. “After meeting at ICNY, it was clear the partnership was natural. We were able to fast-track the integration with agile development and roll it out to customers quickly,” said Steve Bintz, immoviewer Key Account Manager, in a statement.

Wells Fargo, in conjunction with the National Association of Real Estate Brokers (NAREB), announced an initiative to create at least 250,000 new black homeowners by 2027. “Wells Fargo’s $60 billion lending goal can contribute to economic growth by making responsible homeownership possible for more African Americans in communities across the country,” said Brad Blackwell, executive vice president and head of housing policy and homeownership growth strategies for Wells Fargo, in a statement.

In August, Re/Max and DocuSign announced a “strategic alliance” to build on their 2011 agreement. This week they shared plans to deepen their partnership with an additional integration initiative to simplify Transaction Room sign on, reduce data entry and provide pricing discounts to Re/Max’s broker and agent affiliates. Georg Gerstenfeld, the vice president and general manager of real estate solutions at DocuSign, explained the purpose of the new features in a statement: “With a single click, users will be able to create new Transaction Rooms that can be automatically pre-populated with listing and lead data so they don’t need to enter it twice.

March 1

Related Realty today announced its acquisition of Streeterville Properties Group, a 23-year-old residential real estate brokerage based in Chicago’s Streeterville neighborhood. Led by veteran residential broker Gail Spreen, the team will continue to operate under the Streeterville Properties Group name. “For more than two decades, Streeterville Properties Group has enjoyed a stellar reputation throughout Streeterville and downtown Chicago, establishing itself as a sales leader in its namesake neighborhood,” said Curt Bailey, president of Related Midwest and founder of Related Realty, in a statement. “Like Gail and her team, Related is deeply rooted in Streeterville, home to our first luxury rental property, 500 Lake Shore Drive; ongoing developments like One Bennett Park; and next-generation sites like 400 N. Lake Shore Drive that will reshape the downtown skyline.”

Long & Foster Real Estate is pleased to announce that it opened a new office in downtown Roanoke, Virginia, on January 17. Located at 108 Salem Avenue, the office is led by Anders Dill and it will be managed by Bitsy Davis, managing broker of Long & Foster’s Roanoke office. “Long & Foster is committed to growing our presence in southwest Virginia, and the opening of the a-Bode office allows us to increase our footprint and better serve home buyers and sellers throughout the area,” said Scott Shaheen, senior regional vice president of Long & Foster Real Estate, in a statement. “Additionally, having a leader like Anders, who is active in the community, provides us with a unique understanding of the local market and the needs of its residents.”

March 2

Coldwell Banker Preferred, a leading residential real estate brokerage company in the greater Philadelphia area, has acquired the assets of Applebaum Realty, Inc., in Wilmington, Del. Applebaum Realty has approximately 20 affiliated sales professionals serving homebuyers and sellers in the greater Wilmington area since the firm was established in 2009. “I am very pleased to welcome this group of talented real estate professionals from Applebaum Realty who have a strong history of providing quality service to homebuyers and sellers in Delaware, Pennsylvania and Maryland,” said David Krieger, president of Coldwell Banker Preferred in a statement. “This addition to Coldwell Banker Preferred will strengthen our position in northern Delaware and further reinforce our commitment to providing superior service to buyers and sellers in the region.”

Dotloop, which is owned by Zillow Group, has announced an improved application programming interface (API) that will make it easier for programmers to bake dotloop features and connectivity into other real estate apps. The API exemplifies Zillow Group’s ongoing push to become an integral part of the real estate tech ecosystem.

Crye-Leike Real Estate Services, the nation’s fourth largest privately-held residential real estate brokerage firm, has opened Crye*Leike Premier Properties in Fort Walton Beach, Florida, its second franchise office in the Gulf Coast region of Florida. Crye*Leike Premier Properties is owned and operated by Paula Andrews, who will serve as its managing broker, along with her son, Jesse Andrews, and father, Ron Glime. Mrs. Andrews has been helping people with their real estate needs since 2002. She previously owned Anchor Realty & Property Management in Destin, Florida. “Even though we are not natives of Fort Walton Beach, our family has been visiting the area since 1987,” said Glime in a statement. “We always said that we would one day make this are our final destination and here we are establishing a family business together.”

March 3

Better Homes and Gardens Real Estate announced the addition of Properties West in Saint Louis to its franchise network. The newly named Better Homes and Gardens Preferred Properties, led by brokers Charles and Laura Davis, will move to a new location in Town and Country in April and continue to serve the St. Louis metropolitan area. “The leadership team at Better Homes and Gardens Real Estate Preferred Properties has such passion and energy when it comes to providing an authentic and personal experience to every customer,” said Sherry Chris, president and CEO, Better Homes and Gardens Real Estate. “This mindset is fully embraced by the entire company and makes them a perfect fit for our network. We are thrilled to be working together to serve the St. Louis metropolitan area.”

Email deals and partnerships information to [email protected].

from Inman http://ift.tt/2lHgY52 via IFTTT

[nightmare-afton-cosplay]

HUD Secretary Ben Carson Sells Virginia Home for $1.35M

realtor.com, Mark Wilson/Getty Images

Housing and Urban Development Secretary Ben Carson sold his Virginia home for $1.35 million in late March.

Carson purchased the Vienna, VA, home back in January 2017 for $1.22 million, just a month after being nominated for the HUD post by President Donald Trump.

With an election cycle this fall, Carson opted to put on the market his home close to the nation’s capital. It went up for sale in late February for $1.3 million, and closed just a month later, at a price slightly above asking.

The two-story brick Colonial is located on 1.4 acres and features an open floor plan. Inside, you’ll find five bedrooms, 4.5 bathrooms, and 6,380 square feet of living space.

Listing photos show a vacated, move-in ready residence with neutral walls, as well as a mix of hardwood and tile flooring.

The family living area features a fireplace, wet bar, and Palladian windows. A private study in the home provides an abundance of space and light. The gourmet kitchen has what the listing describes as an “octagonal” breakfast area that coaxes in plenty of natural light.

The 1,200-square-foot back deck offers plenty of space for entertaining, plus scenic views overlooking the woods.

Front exterior

realtor.com

Living area

realtor.com

Kitchen

Master bedroom

realtor.com

Master bathroom

realtor.com

Expansive back deck

realtor.com

Disco ball

realtor.com

The master suite, on the upper level, has a massive walk-in closet and fireplace. Its bathroom offers a soaking tub, plus his-and-hers sinks. The upper level also has three huge bedrooms with elegantly equipped bathrooms.

On the lower level, a large open area, which now has a disco ball for parties, could also be turned into a playroom, crafts room, or man cave.

Vienna provides easy access to the District of Columbia, as well as to shops, restaurants, and entertainment in nearby Tyson’s Corner.

Carson and his wife, Lacena (“Candy”), maintain a mansion near Baltimore, in Upperco, MD, on 35 acres, which they purchased in 2001 for $1.5 million. They also have a home in Florida.

In 2016, they shelled out $4.4 million for a mansion in Palm Beach Gardens. They had previously owned a nearby home in West Palm Beach, which they sold in May 2017 for $920,000.

Carson was represented by Julie Brodie with Engel & Völkers. The buyer was represented by Victoria Baker with Coldwell Banker Residential Brokerage.

The post HUD Secretary Ben Carson Sells Virginia Home for $1.35M appeared first on Real Estate News & Insights | realtor.com®.

from https://www.realtor.com/news/celebrity-real-estate/ben-carson-sells-virginia-home/

[joanabulger]

Marketing For Small Business Palm Beach Gardens, Fl

Contents Fl. coldwell banker residential real Lawyer directory florida auburndale attorneys Startup. … small business training workshops Mediterranean cir palm beach gardens Pool cleaning services Find schaffer mortgage business details including Full service South Florida SEO and internet marketing company. Search engine optimization, social media and website design in West Palm Beach, Florida. Palm Beach […]

The post Marketing For Small Business Palm Beach Gardens, Fl appeared first on FermentationTrap.com.

[walterfrodriguez]

Movers & Shakers: Ritz-Carlton Residences in Miami Beach hires GM & more

Rendering of the Ritz-Carlton Residences Miami Beach and Cristiano Buono (Credit: The Ritz-Carlton Residences)

Ritz-Carlton veteran Cristiano Buono was named general manager of The Ritz-Carlton Residences, Miami Beach, a luxury condo project that’s slated to open soon in Mid-Miami Beach. Lionheart Capital is the developer.

Buono’s residential and hotel management experience includes positions at The Ritz-Carlton Club, Aspen Highlands, The Ritz-Carlton Abama, Golf & Spa Resort in Tenerife, Canary Islands, and Marriott International’s EDITION Hotels.

The Miami Beach development will have 111 condo residences and 15 single-family villas, gardens, pools and 36 private boat slips. Shared amenities will include an art studio, a rooftop pool deck with private cabanas and a restaurant, a waterfront bar and social room, pet grooming facilities, indoor and outdoor yoga studios, a meditation garden and car wash facilities. Buono will focus on implementing and managing the amenities and owner engagement, according to a press release.

Last year, Lionheart hired Gigi Ganatra Duff, a marketing, brand development and communications executive, as chief marketing officer. She left Lionheart in May to join Nordstrom Inc. as vice president of public relations and corporate affairs.

Douglas Elliman’s Zaicha Martell-Spodak and Gayle Clark will lead sales at DDG’s 3550 South Ocean in Palm Beach. Martell-Spodak previously led closings of 775 units at the Plaza on Brickell. Both Martell-Spodak and Clark also previously worked for the Related Group and Cervera Real Estate. 3550 South Ocean, a 30-unit luxury condo project, is under construction and expected to open in early 2019.

Skanska USA brought on Michael C. Brown as executive vice president/general manager in Florida. Brown, based in Tampa, will lead the company’s three Florida offices. He was previously senior vice president and southeast regional manager at Gilbane Building Company in Atlanta.

Douglas Elliman recruited Valerie Coz from the Palm Beach-based Fire Group. Coz is now a senior director of luxury sales, based out of Elliman’s Delray Beach office. She was previously co-founder and president of SafferCoz Real Estate in Delray. Coz focuses on luxury homes in Ocean Ridge, Delray Beach, Gulfstream, Manalapan and Hypoluxo Island.

Coldwell Banker hired agents Steven Yaro in Las Olas, Sarah Solis in Delray Beach, Alejandro Jimenez, Mariya Ilazarova, Amir Ali Shahheidari and Allyson Mahler at its Boca Central office, and N. Virginia Silverio in Pinecrest.

from The Real Deal Miami & Real Estate News News | & Curbed Miami - All https://therealdeal.com/miami/2017/11/06/movers-shakers-ritz-carlton-residences-in-miami-beach-hires-gm-more/ via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT

[juditmiltz]

Planes, frames and automobiles: Miami’s real estate elite play hard

From the fall issue: When it comes to partying, Miami gives Vegas a real run for its money. And when it comes to showing off wealth in grand fashion, Miami’s top real estate players surely do it best. Despite the manic ups and downs of the past couple of real estate cycles — the current one being no exception — the bravado of these bigwigs has never faltered.

The personal residences of Miami’s real estate moguls are as over the top as their fortunes will allow. Russell Galbut, CEO of development company Crescent Heights, believes in putting his money where his mouth is. He made his fortune in South Beach real estate. His mammoth 17,000-square-foot personal residence, which was completed in the summer of 2016 on Alton Road in the South of Fifth neighborhood, sits atop a robotic parking garage where cars are hydraulically lifted to their respective spaces. Galbut’s residence begins on the third floor, going up four floors in a configuration that includes rooftop terraces, an infinity edge pool, a waterfall and a racquetball court.

Over on Star Island, Stuart Miller, CEO of homebuilder Lennar, is building big. He owns 22 Star Island, which includes a mansion dating back to 1931 that he moved elsewhere on the property to make room for a new structure. He is also in the midst of construction at 11 Star Island, where a mammoth 120,000-square-foot property is taking shape. It will include a lagoon and waterfall in addition to underground parking that will accommodate 32 cars. The homes are reportedly for his personal use.

Jill Hertzberg, one half of Coldwell Banker’s power broker team the Jills, said many of her high-net-worth clients have homes that include the kind of over-the-top amenities that cost way more to build than they actually add in value to the properties. She pointed specifically to the trend of amped-up garages that feature hydraulic lifts for sports cars in “huge glass enclosures.” Hertzberg added that these well-heeled clients rarely spend an entire year in their South Florida residences.

Luis Navas, managing partner of Global Governance Advisors, a Miami-based company advising on executive compensation, said, “The usual big expenses for some of my real estate clients are second, third and fourth homes in New York or out west. Many of them live in Florida for six months and one day so they are taxed as a Florida resident.”

But that isn’t the case for homegrown Turnberry Associates co-CEO Jeffrey Soffer. His home at 27 Indian Creek Island Road, which until recently he shared with his then-wife, former supermodel Elle Macpherson, is a spectacular 25,600-square-foot oceanfront property and his primary residence. The Mediterranean-style estate has nine bedrooms, 11 bathrooms and a private dock. There are only about three dozen other homes on Indian Creek Island, and they’re owned by some of America’s wealthiest people, including activist investor Carl Icahn and car dealership mogul Norman Braman.

In addition to his opulent home, Soffer can claim the prize for coolest private celebration. He hired Prince to perform at his 40th birthday party 10 years ago. It was a considerable coup for quite a few reasons, the first being that the late rock star was hardly a regular fixture on the private-party-for-hire circuit, and his $2 million asking price was just part of the cost for the show, which opened with KC & the Sunshine Band and re-created an entire nightclub at Turnberry Aviation’s hangar at the Opa-locka Executive Airport.

Artistic sensibilities

While some real estate billionaires may choose costly blowouts with no appreciable return, others spend their cash on expensive interests in which the returns are measured in legacy value rather than dollar amounts.

Jorge Pérez, developer and co-founder of the Related Group, is often referred to as Miami’s condo king, with a net worth estimated at $3 billion. He was born to Cuban parents living in exile in Argentina and grew up there and in Colombia. Pérez told Forbes: “In America you are judged by what you accomplish. In Latin America you are judged by who your family is.” That sentiment might explain why he made a $40 million donation to the Miami Art Museum ($20 million worth of art from his own collection and $20 million in cash), which now bears his name.

Since the financial crash of 2008 and a cancer scare, Pérez says, he has dedicated his life to his art and philanthropy. In contrast to his billionaire real estate pals, Pérez told Architectural Digest in 2014, referring to his collection: “I don’t buy boats or planes. This is my passion.”

Russian developer Vlad Doronin, who owns a personal residence on Star Island, may be known to most as the billionaire former boyfriend of supermodel Naomi Campbell. He is also, according to the Miami Herald, an avid art collector. Works he owns include Russian avant-garde paintings from Kazimir Malevich and El Lissitzky as well as art by contemporary masters including Jean-Michel Basquiat, Ed Ruscha and Anish Kapoor. In 2011, he paid $3.3 million for Andy Warhol’s 1984 painting “Reel Basquiat.” Doronin’s advisors reportedly include New York gallerist Tony Shafrazi.

Staying afloat

It would be impossible to mention Miami’s well-heeled without talking about their yachts.

Only serious players can get into the game on the upper end. Often docked at One Island Park Marina, on Terminal Island off the MacArthur Causeway, is the 217-foot boat Vanish. It’s owned by billionaire Larry Van Tuyl, a board member of VanTrust Real Estate and owner of industrial real estate in Florida and throughout the U.S. The vessel is valued at around $125 million and is equipped with two helipads, an outdoor cinema, a gym, a sauna, a massage room and a freestanding staircase flanked by a glass wall over three decks.

Docked over at Watson Island Gardens Marina off the MacArthur Causeway in Miami is the 377-foot-long Luna, sold by Russian billionaire investor Roman Abramovich to his friend Farkhad Akhmedov. The boat was last valued at $545 million and features two helipads and anti-drone technology, which renders drones flightless from 2 kilometers away.

Plane to see

Along with yachts come the obligatory personal jets. Kevin Maloney, the founder and principal of Property Markets Group, lives in Miami, though he does much of his development in New York. He flies his private jet to and from the two cities, telling TRD that he first got into piloting to get over his fear of flying.

What is a private jet with gold-plated fixtures, estimated by some to be worth $60 million, really worth when it belongs to Phillip Frost, a man who made billions selling pharmaceutical companies? The largest shareholder in Vector Group, the parent company of Douglas Elliman, also has a 6-acre residence at 21 Star Island, last valued at $52 million.

They’ve got game

As well as being a party town, Miami is a sports town, and owning franchises appears to be the Achilles’ heel of many billionaires. They are particularly risky ventures because of the costs of recruiting players and paying their multimillion-dollar salaries along with loans and upkeep of stadiums. It’s a money pit unless the team is offsetting costs by constantly winning and selling enough merchandise, TV rights and advertising, experts said.

But many billionaires are, by nature, risk takers. Thus, the chairman of the Related Companies, Stephen Ross, in between overseeing the development of the $15 billion Hudson Yards project in New York, has committed $400 million of his own money to renovating Hard Rock Stadium, home to his NFL team, the Miami Dolphins.

The most valuable sports franchise in the world is the Manchester United soccer team, which plays in the English Premier League and is reportedly worth over $1 billion. It is owned by the Glazer family, whose deceased patriarch, Malcolm Glazer, made his fortune in Palm Beach real estate before investing in sports teams. He paid $192 million for the Tampa Bay Buccaneers in 1995. Today, First Allied Corporation, the real estate holding company owned and run by his children, has 6.7 million square feet of real estate, according to its website.

  Fast car

Some say no South Florida developer exemplifies opulence and extravagance more than Gil Dezer. His firm Dezer Development has built high-rises in Sunny Isles Beach including the 60-story Porsche Design Tower with its “Dezervator,” a patented car elevator carrying the developer’s name. It takes vehicles and their owners up to any of the building’s 132 condos. Dezer’s own car collection, with a value estimated to be in the region of $20 million, includes a $1.5 million Bugatti Veyron, only one of 450 that exist. However, each of his cars pales in comparison to the developer’s $17 million Gulfstream IV private jet. All the cars and jets are finished in Dezer’s favorite color, silver. And his plane was custom-fitted with seats similar to those in his Ferrari 458 Italia, at a cost of $55,000 each.

As with his start in real estate, Gil Dezer got his love of cars from his father, developer Michael Dezer. The elder Dezer has his own museum (the Dezer Collection Museum and Pavilion) dedicated to his pricey cars in North Miami. Amongst the vintage rides are Chryslers and Mustangs along with microcars not often associated with real estate tycoons, including Citroëns, Fiats, DAFs and Sabras. The museum has an indoor drive-in movie theater and a Hollywood wing that includes the 1948 Ford from “Grease,” the 1959 Cadillac Ecto-1 from “Ghostbusters” and, of course, the 1981 DeLorean from “Back to the Future.” There are numerous Batmobiles “from all eras, including one built by George Barris,” claims the website. There’s also a James Bond collection including cars from recent 007 films, like a shot-up Land Rover from ‘Skyfall,” as well as Aston Martins that date back to ’60s-era Bond films.

Forbes estimates the 1,000-car collection to be worth around $30 million. The museum is a pure vanity project and doesn’t turn a profit, although tickets are priced at $40 for adults and $15 for children. Michael Dezer started his real estate career buying and selling properties in Chelsea in Manhattan in the 1980s before developing ocean-front properties with Donald Trump bearing the now-president’s name. He characterized his collecting ethos by simply saying: “If I see something I like, I buy it.” 

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/planes-frames-and-automobiles/#new_tab via IFTTT