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    US commercial stock most in need of redevelopment

    Some 44% of office buildings in the US are seen as outdated and in need of investment, analysis from commercial real estate firm JLL has found.
    This compares to 34% in Europe, as some countries are ahead of others in terms of decarbonising commercial stock.
    New York, Washington DC, Paris, Chicago and London are particularly behind, where JLL estimated you’d need to spend between $242 to $320 billion to bring them up to date.
    Cynthia Kantor, CEO, project & development services, at JLL, said: “The commercial real estate landscape is at a turning point as property owners and cities look to establish long-term viability of existing buildings and districts, in the face of evolving experiential and spatial preferences, increasing regulatory pressures, climate risk and changes in real estate demand.

    “By proactively assessing and addressing outdated and at-risk buildings, owners can unlock significant value, create a more sustainable, resilient built environment and drive future returns.”
    JLL said public authorities that focus on regeneration of specific major building are making a big difference, given that it attracts workers back to office-heavy business districts, and serves to revitalise neighbourhoods for visitors and residents.
    Phil Ryan, research director at JLL, added: “The full potential of existing assets, both those nearing the end and earlier in their lifecycle, can only be realized through collaboration between stakeholders and by considering how various levels of obsolescence interact
    “Owners and cities should assess how their portfolios holistically fit into their respective built environments and how a variety of factors contribute to their ability to respond to changing locational preferences and new sustainability and development regulations to create future value.” More

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    Global News Archives – PropertyWire

    Global News Archives – PropertyWirehttps://www.propertywire.com/category/news/global-news/ UK & International Property News ServiceTue, 13 Apr 2021 20:50:51 +0000en-GB hourly 1 https://wordpress.org/?v=6.6.2Barings Announces £250m Real Estate Mandatehttps://www.propertywire.com/finance/barings-announces-250m-real-estate-mandate/ Wed, 14 Apr 2021 06:00:45 +0000https://www.propertywire.com/?p=26227Barings has announced a £250m real estate debt mandate with The Phoenix Group for its matching adjustment portfolio. In partnership with Phoenix, Barings will build a […] More

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    For the Price of a Tiny N.YC. Apartment, You Could Snag a Sprawling Villa in Calabria, Italy

    New York City is consistently one of the most expensive places to live, so it’s no wonder more and more Big Apple residents are packing up their postage-stamp apartments and heading abroad in search of more space for less money. And, if you’re considering pulling a real-life Emily in Paris and escaping to Europe, you might be pleasantly surprised just how much more bang for your buck you can get when it comes to real estate. 

    A new study from My Dolce Casa, an expat-oriented blog about living and retiring overseas, has done the hard part and calculated what the same amount of money can buy you in the Mediterranean versus Manhattan. The website based its research on Realtor.com’s median listing price for a 500-square-foot apartment in New York City, which was approximately $750,000 or $1,500 per square foot. Using that value as a guide, it then determined what size house you would be able to purchase for a similar cost in countries like Italy, Spain, Portugal, Greece, and France. Let’s just say the results are nothing short of enticing. 

    You can buy three times as much space in Spain compared to Manhattan.

    David Zorrakino/Europa Press via Getty Images

    During the pandemic, Americans descended on Italy for a taste of la dolce vita. When it comes to getting the most for your money in Bel Paese, the mountainous region of Molise—due east of Rome on the Adriatic coast—topped the chart in terms of value with an average price per square foot of $90. Here, for example, $750,000 will get you a sprawling 8,333-square-foot villa. Similarly, if you wanted to settle down further south in Calabria, the same amount of money would afford a whopping 8,242 square feet of space, which translates to about $91 per square foot. By comparison, a condo of that size would run you upwards of $12 million in Manhattan, according to The New York Times. 

    Spain’s Castilla-La Mancha, a vast region in the center of the country, landed in third place. The desert-like area includes the historic city of Toledo and was the setting of the famous Don Quixote novel. It also has the country’s lowest population density, so essentially it’s the complete opposite of New York City. Here, you can expect a home as large as 7,813 square feet, while over in Extremadura, which borders Portugal, you could pick up a 7,426-square-foot country home. For all The White Lotus fans, the Italian island of Sicily notched the fifth spot. With an average price per square foot of $104, you could live big like Quentin (Tom Hollander) in your very own 7,212-square-foot palazzo. 

    Real estate on Crete costs on average $215 per square foot.

    Laszlo Szirtesi/Getty Images

    Greece has long drawn tourists during the summer months, but if putting down roots in the so-called cradle of Western civilization appeals to you, for the price of a 500-square-foot studio in Manhattan, you could snap up a 5,859-square-foot abode in Thessaly, one of the most important regions of ancient Greece and known for its impressive mountain ranges and idyllic landscapes. On the other hand, if pink-sand beaches, archaeological sites, and a thriving wine scene float your expat boat, you could stretch out in a scenic 3,488-square-foot villa on Crete, Greece’s largest island.

    You can find the full ranking below.

    RegionCountryHome Size (square feet)MoliseItaly8,333CalabriaItaly8,242Castilla-La ManchaSpain7,813ExtremaduraSpain7,426SicilyItaly7,212UmbriaItaly6,944BasilicataItaly6,356AbruzzoItaly6,303Castilla y LeónSpain6,148PugliaItaly5,952MurciaSpain5,906ThessalySpain5,859PiedmontItaly5,769ThraceSpain5,556La RiojaSpain5,474CentralSpain5,474AsturiasSpain5,245GaliciaSpain5,245AragónSpain5,102Friuli-Venezia GiuliaItaly5,068

    Authors

    Abby Montanez

    Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…

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    7 Paris Rentals to Book For the 2024 Summer Olympics

    Paris is about to be busier than usual, with the French capital set to host the 2024 Summer Olympics. The Games of the XXXIII Olympiad are set to kick off on July 26 and will run through August 26, with an estimated 15 million people expected to descend upon the City of Light. Naturally, that means all those visitors are going to need a place to stay.
    Considering the highly anticipated sporting event is less than a month away, you’d be hard-pressed to find a hotel or historic château that hasn’t already been booked. However, if you choose wisely—and act fast!—you can still find some deluxe, last-minute accommodations even if you haven’t secured a ticket to one of the hundreds of sporting events. To help with your planning, we rounded up seven of the best Paris rentals available during the Olympics, whether you want to be close to the action or further away from the crowds.
    If you just plan on being in town during the festivities, a short-term rental that combines all the best hotel amenities with the privacy of your own home could be your best bet. Think fully-furnished digs with the added bonus of complimentary weekly housekeeping and, in some cases, a dedicated concierge. On that note, if proximity is your priority, you might want to go for something in a central location or close to the sporting event you’re passionate about. Say, for example, a home near the Grand Palais where fencing is set to take place. Other landmarks, including the Champ-de-Mars, Eiffel Tower, and Trocadéro, will also be turned into competition venues.
    Traveling with a large family or a large group of friends? A sprawling townhouse could be a game-changer for spending time together, and at the same time, it offers plenty of space for when you need a minute apart. Of course, the city’s charms go far beyond the games, so we’d understand if you wanted to extend your getaway after the closing ceremony. If you’ve got the PTO or the ability to work remotely, some rentals on this list even offer monthlong reservations to extend your summer. Without further ado, here are seven great places to stay in Paris during the Olympics. Bon voyage!

    8th Arrondissement Penthouse

    Image Credit: Daniel Féau

    Parisian bliss: a newly renovated penthouse apartment that maintains the building’s 1930s charm. And a major plus? It is smack in a hive of Olympic activity, with the marathon, swimming, fencing, taekwondo, 3×3 basketball, breaking, BMX freestyle, and skateboarding venues nearby, along with the finish line of the individual cycling competition. In other words, start making your itinerary so you have enough time to enjoy your penthouse space. Across the home’s 3,600 square feet, the unit is equipped with three bedrooms, a private elevator, a study, and a fitness room. Four parking spaces make parking a breeze.

    Image Credit: Daniel Féau

    The living and dining space welcomes in natural light thanks to three floor-to-ceiling sliding doors that open to an 860-square-foot terrace. The spacious room is warmed by basketweave parquet, comfy oversized sofas, and numerous wooden accents. The primary suite, which also has direct terrace access, is both classic in design and dazzling in its decorative accents. The full marble primary ensuite is a deluxe space to wash off the summer grime while your guests do the same in their respective private baths. The price? A cool $81,522 per month.

    Boulevard Saint-Germain Townhouse

    Image Credit: onefinestay

    Positioned on the left bank of the Seine, in the laid-back and conveniently central Latin Quarter, this stylishly eclectic townhouse on Boulevard Saint-Germain is all set with three bedrooms and two bathrooms, making it ideal for a group or family of five. Some of the standouts include a small balcony and a leafy roof terrace.

    Image Credit: onefinestay

    Other nice touches? The living room is teeming with gold accents, funky collectibles, and chic leather furnishings. And when it’s time to chow down, the marble-clad kitchen is equipped with a seated breakfast bar, or you can enjoy your meal inside the glass-roofed dining area. Available from $1,305 a night, the property is surrounded by many public transportation options that make getting around town a snap.  

    16th Arrondissement Townhouse

    Image Credit: Propriétés Parisiennes Sotheby’s International Realty

    For those who want to extend their post-Olympics stay or perhaps give expat life a try, you could spend 30 days (or more) holed up in high Parisian style in a townhouse near the Place de L’Etoile and the Champs Elysées at a rate of $32,609 per month. Nearby is the newly renovated Grand Palais, the official venue for fencing and taekwondo.  

    Image Credit: Propriétés Parisiennes Sotheby’s International Realty

    The 4,520-square-foot residence underwent an enticing remodel that preserved the antique chevron-pattern parquet floors. A foyer, large reception room, and fully outfitted chef kitchen round out the first floor, with additional common areas located on the second level. The primary suite is tucked away on the third floor, complete with an ensuite bathroom, a large closet, and an office, while the three secondary bedrooms are situated on the top floor. An elevator connects all four floors, and the place is even equipped with a gym and sauna in the basement.

    Appartement Girafe

    Image Credit: Le Collectionist

    Along with an Olympic athlete or two, you can also meet a giraffe in Paris! Well, the stuffed one that presides over the living room of this 2,400-square-foot rose-colored apartment anyway. The high arch between the living and dining rooms is echoed in the swooping curves of the twin sofas and in the oval-shaped bar and the dining table. Adding to the shapes are the curves found throughout: a circular window frames a pretty view of the Eiffel Tower. To be fair, the landmark can actually be seen from almost every window. In the kitchen, dusty rose walls and wooden cabinetry combine new and vintage design elements, while a hallway lined with animal print wallpaper leads to the bedrooms.

    Image Credit: Le Collectionist

    Featuring two bedrooms, two bathrooms, a small terrace, and a media room with a fireplace, this apartment serves as an ode to Parisian spirit and style, with a sophisticated use of color and a collection of natural wood elements and unique accessories adding warmth and playfulness. Located minutes away from the race walk, cycling road race, beach volleyball, and wrestling events, this apartment is an escape from the crowds that’s going for roughly $46,200 a week during the Olympic Games.

    6th Arrondissement Apartment

    Image Credit: Daniel Féau

    In the 6th arrondissement’s Saint-Germain-des-Près quarter, just a short walk from the cycling and archery events and the finish line for the marathon, this three-bedroom, two-bathroom apartment runs $38,000 per month. Spanning three levels, the sleek aerie has a minimalist vibe with fun pops of color. The living room has 20-foot ceilings with a mezzanine balcony that allows a constant flow of conversation, and the kitchen is well equipped with a casual eating area. The lowest level features a media lounge, an additional kitchen, two guest bedrooms, and a library.

    Image Credit: Daniel Féau

    Rounding in at about 2,670 square feet, the loft-style space is decidedly contemporary, with clean lines and gleaming surfaces. However, in the primary bedroom and bath on the mezzanine level are preserved vestiges of a 4th-century abbey.

    features natural elements while maintaining a modern flare. The mezzanine balcony will keep the flow of conversation throughout the entire apartment. The primary bedroom is its own work of art: with a floor-to-ceiling white stone mosaic wall adjacent to a white oak tree branch ensures a cozy feel, after a long day of patriotism.  

    Avenue Raymond Poincaré Apartment

    Image Credit: onefinestay

    If space is what you’re after, you’ve come to the right place with this well-decorated apartment in the 16th arrondissement, not far from the iconic Arc de Triomphe. Accommodating up to eight guests, each of the four bedrooms is outfitted with a queen-sized bed, and, best of all, the apartment, with rates that start at about $2,100 per night, comes with a dedicated concierge who can handle everything from restaurant reservations to helping secure last-minute tickets to Olympic events.

    Image Credit: onefinestay

    Situated along Avenue Raymond Poincaré, the fourth-floor apartment is accessible via elevator. Once inside, the living room is the star of the show, with a mix of classical features like blonde herringbone floors and bespoke Asian-themed artwork. Other highlights that add to its comfort and appeal are an elegant dining room, a wood-paneled den, and a modern chef’s kitchen. Of course, you could always post up on one of the apartment’s Juliet balconies that overlooks the vibrant street scene.

    Maison Rodin

    Image Credit: Le Collectionist

    While Maison Rodin may be centered in the heart of Les Invalides, the walls of glass that look out to a tree-shielded yard will make you feel like you’re standing in the French countryside. Running a whopping $146,700 a week, the two-bedroom spread puts you near 17 Olympic events, including the venues for archery and the finish line of the marathon. 

    Image Credit: Le Collectionist

    The living room is spacious, and the dining room table easily seats a dozen, while sliding glass doors lead out to a patio that features sunbeds, a table, sofas, and a barbeque, making alfresco relaxation a priority between dashing off to Olympic events. There’s also a well-equipped kitchen, a library, and an office for when work requires attention.

    Authors

    Abby Montanez

    Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…

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    Reunion Resort 7600 in Photos

    Published on July 11, 2024

    Top Villas

    Authors

    Demetrius Simms

    Demetrius Simms is a digital staff writer at Robb Report. Following a brief stint in public relations, their work has now appeared in lifestyle and culture publications such as Men’s Health, Complex…

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    Nicolas Cage’s Former New Orleans Mansion Lands on the Market for $10.3 Million

    The late Marie Delphine LaLaurie is remembered as both a wealthy New Orleans socialite and an enslaver, and her gruesome legacy is tied to a historic mansion on Royal Street, which has been seen on America’s Most Haunted Homes and depicted on FX’s American Horror Story: Coven. 

    Though it is rumored to be haunted, according to The Wall Street Journal, that didn’t stop actor Nicolas Cage from buying the home in 2007. Two years later, the Hollywood icon, struggling to maintain a vast portfolio of properties around the world, lost the property to foreclosure; it was eventually scooped up by energy trader Michael Whalen for around $2.1 million in 2010. Whalen proceeded to pour over $4 million into renovations before recently putting the property back on the market for $10.25 million. Patrick Knudsen of Latter & Blum | Compass holds the listing. 

    The primary bedroom is a moody, decadent space with silk drapes and lavender jacquard wall coverings.

    Snaply/Compass

    The LaLaurie Mansion spans a commodious 10,284 square feet with a host of amenities that highlight its historical significance and grandeur. The home was completed in the 1830s, but its original structure was burned in an 1834 fire. The mishap left the charred interiors of the building exposed to the street, at which time abused slaves and chained bodies became visible to other residents of the French Quarter. Disgusted onlookers destroyed what remained of the structure, and the LaLaurie family reportedly sold the land by 1837. 

    An Empire-style antebellum home was later built on the property and was used as a girls’ high school at one point. It now features a three-story structure that houses the main house and is connected to a four-story service wing. New images of the home appear to lean into its spooky history, adding eye-catching colors like bright red, purple, black, and a wicked-green hue to modernized living and dining areas. Eight bedrooms, eight baths, and two powder rooms are spread across its expansive square footage, which is topped by a private rooftop deck. 

    RELATED: A Shipping Magnate’s New Orleans Penthouse Hits the Market for $17.5 Million

    Beyond the gated entrance, double parlors come into view alongside a billiards room, a guest suite, and a 2,000-bottle wine cellar. The gourmet kitchen and elegant dining room are found on the second level, where a wrap-around balcony grants views of the cityscape and the street life below. The primary suite, plus two others, are accessible on the floor above. While it might not be the primary, one of the guest suites dons red lacquered walls that feel devilishly deluxe. The service wing contains two apartments and additional bedroom suites for overflow guests and staff.

    A central brick courtyard is ideal for catching a breath of fresh air and taking in the historic property. 

    Click here for more images of the southern home.

    Snaply/Compass

    Authors

    Demetrius Simms

    Demetrius Simms is a digital staff writer at Robb Report. Following a brief stint in public relations, their work has now appeared in lifestyle and culture publications such as Men’s Health, Complex…

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    Exclusive: Pacaso Just Unveiled a New Collection of Co-Owned Luxury Vacation Homes  

    If you’re thinking about investing in a vacation property this year, you’re not the only one. According to a 2024 trend report from Coldwell Banker, a whopping 40 percent of Americans plan on buying second (or even third) homes within the next year, and those in the market are finding a new way to pay for them, including something called co-ownership.

    Platforms like Pacaso offer buyers one-eighth shares in second homes so they can stay in high-end digs while also splitting the property with other like-minded folks throughout the year. The homes are managed and maintained by Pacaso, which eases the burden of upkeep. The company just launched the Estate Collection, aimed at affluent homeowners with residences available in one-eighth shares, starting at a cool $1 million each.

    “For luxury buyers, co-ownership offers a more convenient and hassle-free experience,” Pacaso CEO Austin Allison told Robb Report. “Pacaso handles everything from design and property management to finding local vendors like cleaners and landscapers. This allows buyers to simply show up, relax, and enjoy their vacation home.” 

    The Bennett Home in California’s Napa Valley is surrounded by vineyards.

    Pacaso

    The Estate Collection includes the most opulent homes in the platform’s portfolio, nestled within desirable, sought-after locations like Malibu, Aspen, Napa, Jackson Hole, and Mexico’s Cabo San Lucas. The newly added properties have all been personally designed by Pacaso, and they come fully furnished with a bevy of lavish amenities for making the houses feel like homes.

    “These buyers, who may have previously owned a traditional second home, may have experienced the challenges of designing, furnishing, and maintaining a multi-bedroom residence in a distant state or even another country, along with the inconvenience of upkeep throughout each season,” Allison said. “Consequently, many buyers have decided they no longer want to deal with the hassles of full vacation home ownership.” 

    The Hillside Home in Carmel, Calif. is priced at $1.63 million per one-eighth share.

    Pacaso

    “One of my favorites from the collection is our Infinite Road home,” adds Allison. “Set on 10 acres in the heart of Napa, the 6,800-square-foot home offers spectacular vineyard and valley views with modern finishes throughout.” Also in Napa, the collection includes the seven-bed, eight-bath Bennett Home. Priced at $1.65 million, the wine country retreat comes with a pickleball court, an outdoor kitchen, a swimming pool, and a fire pit.

    There’s also Hillside Home, a 6,670-square-foot stunner in Carmel asking $1.63 million per share, and Pacific Place, a four-bed new-build in Corona Del Mar priced at $1.2 million. Elsewhere in Wyoming, Harvest Ridge, priced at $1.68 million, is perched atop Spring Creek and sits on five acres in Jackson. Highlights here include a chef’s kitchen, a sauna, a private gym, and, of course, sweeping mountain views. Over in Nantucket, Cedar Isle provides a three-story main house, plus a guest dwelling and access to bike paths and nearby beaches. Spanning 6,800 square feet and priced at $1.48 million, a perk of this waterfront oasis is its swanky home theater.  

    “Because these destinations rarely ever see listings hit the market due to high demand and low inventory,” Allison said, “luxury buyers now have the chance to own a home in competitive markets.”

    Click here to see more photos of Pacaso’s new Estate Collection.  

    Pacaso

    Authors

    Abby Montanez

    Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…

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    Pacaso Estate Collection in Photos

    Published on May 10, 2024

    Pacaso/Infinite Road

    Authors

    Abby Montanez

    Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…

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