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Armani Casa announces first residential project in China

Giorgio Armani’s interior design studio Armani / Casa has announced plans to work on its first Chinese luxury residential project in the city of Chengdu. L’Art Residence will be situated in the center of Chengdu and will consist of two 222–meter-high buildings, each containing 65 apartments.

The White House Estimated to be Worth $319 Million

“Zilliow” is considered to be one of the most frequently searched real estate websites in the world. Zillow recently  listed the historical and iconic home of the U.S President. Zilliow put the estimated value of the iconic White House near the $319 million mark. Apart from putting a suggestive price tag on the lavish Presidential property, the website has even estimated that the White House can easily fetch a monthly rental of $ 1.8 million.

Timing is Right for Brixmor IPO, But Expect a Discount

It looks like the Blackstone Group is going ahead with its planned IPO for Brixmor Property Group, with expected gross proceeds of $750 million. Given the shopping center owner’s strong portfolio and potential for growth, it’s likely to attract plenty of investors, according to market analysts. But due to rising interest rates and Brixmor’s reliance on supermarket anchors, those investors will likely expect a built-in discount for Brixmor shares.

Steven A. Cohen: Among the Biggest Spenders in the World!

Hedge fund SAC Capital Advisors owner Steven A. Cohen is known for his rapid fire trading style. The same is now evident in his real estate endeavours. He has reportedly paid around $60 million for an oceanfront property in East Hampton. The property lies on the road on which Steven A. Cohen already owns a property.

Bayside: A City Suburb With Enclaves

There was a time in the early 20th century when Bayside rivaled nearby Long Island havens for the affluent and celebrated — for instance Sands Point, a North Shore enclave often associated with Fitzgerald’s “Great Gatsby.”  Then came construction of the Cross Island Parkway in the late 1930s, effectively cutting Bayside off from the water. That set the area on a different course from North Shore communities like Douglaston and Little Neck, which still have grand waterfront estates.

Versace Mansion Auctioned Off for $41.5M

Gianni Versace’s palace, known as Casa Casuarina, sold at auction SEP. 17, 2013, for $41.5 million. The highest bidder was VM South Beach LLC—a group that includes the Nakash family, who own Jordache Enterprises. Joe Nakash, the owner of the Victory Hotel next door, told the Miami Herald that he plans to turn the mansion into a hotel, which will operate in conjunction with the Victory. If the deal falls through, the mansion will go to Donald Trump, whose team had the second highest bid at $41 million.

Family Compounds, by Elevator

Some parents dream of owning a home where their adult children and grandchildren also can live. For those with the means, that translates into a family compound, with several generations living in their own houses within the same property line. But here in New York City, creating such expansive homes can be prohibitively expensive. Nevertheless, a lucky few are building multigenerational compounds in the sky.

Big Ticket. A Hint of Europe for $13.579 Million

A four-bedroom penthouse, one of four that crown the Touraine, a new luxury condominium with distinct European overtones at 132 East 65th Street (at Lexington Avenue), sold for $13,579,371.82 and was the most expensive transaction of the week, according to city records. The listing price for the 3,695-square-foot simplex, PH4, was $13,675,990, and the monthly carrying charges are $6,631.

Most Expensive Home in Taipei Priced at $23 Million

One of Asia’s most exclusive residential addresses, Taipei’s Royal Castle residential complex apartment, revealed its much anticipated apartment prices, with the costliest among them fetching a record $2,745 per square meter , $23 million in total. The highly anticipated realty prices were finally made public by the Huang Hsiang Construction Group, the realtors behind some of the biggest real-estate deals in Taiwan. The real-estate rates in Taipei had not been updated for some time resulting in skepticism by willing buyers both foreign and domestic.

U.S. Home Sales Hit Highest Rate Since 2009

U.S. sales of previously occupied U.S. homes surged in July to a seasonally adjusted annual rate of 5.39 million, approaching a healthy level for the first time since November 2009. The spike in home sales shows housing continues to drive the economy.