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    Forget Vacation Homes. These Luxe Alternatives Give You Second—or Third—Residences Without All the Paperwork

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    If you’ve been looking to buy a vacation home in the past decade, it may have crossed your mind that a fractional or club-based alternative might be a viable and attractive alternative option. Proponents suggest it offers the ideal compromise: all the upside of having a second or third home, with none of the admin or paperwork to keep it operational. But the various approaches can be confusing, and it seems almost deliberately muddled, with overlapping terminology and complementary, yet distinct, business models. So here, a pithy primer for anyone considering a part-time home away from home. 

    Residence Clubs

    Timbers Resorts

    The earliest incarnation of luxury fractional residences was this model, which derives from the time-share concept. Think of it more like a plug-and-play second home for your annual vacation. Typically, a residence-club developer will build several properties in a desirable, well-known location—Hawaii, perhaps, or Tuscany—bundling ample services and amenities alongside the units. It will then sell the right to stay there for several weeks per year to multiple shared owners, who each receive a deeded interest in that specific unit. Some schemes allow you to trade those weeks with other owners, but you’ll usually return to the same property repeatedly. 

    Key Players: Timbers Resorts, Pacaso Best For: Traditional second homers 

    Destination Clubs

    Inspirato

    The destination club emerged a decade or so ago and could be thought of as the more youthful sibling of the residence-club model. “Younger consumers are less motivated by owning than by flexibility, variety, and different experiences, so some are deciding that owning something in perpetuity doesn’t always make a lot of sense,” says Richard Ragatz, president of Ragatz Associates, a consulting firm in the resort real-estate industry. Rather than locking owners in with an equity stake, these operate more like passport-powered country clubs with an initiation fee and annual dues; there might be occasional surcharges for particular overnights, too. “You have no equity, but you have access to great vacation homes as well as access to hotels or trips like Antarctica or a safari,” says Nick Copley, a shared-ownership expert who runs SherpaReport. “Whatever the annual spend, though, it’s a sunk cost with no equity accruing year on year.” 

    Key Players: Inspirato, Exclusive ResortsBest For: Adventure-minded younger families 

    Equity Clubs

    Equity Residences

    This investment-minded alternative acts as the vacation world’s answer to a real-estate investment trust. An operator will create a fund, much like a VC, and offer individuals the chance to invest, say, $300,000 for one share. The fund will use those monies to buy up to 15 properties, all of them wholly owned and operated by a management company; each share confers the right to stay for three weeks per year at any of the locations. At the end of an agreed period, perhaps a decade, the fund will begin to sell its homes and divide the spoils among its investors. “There should be a financial return if the managers have done a good job, though I haven’t seen hard numbers on ROI,” says Copley. “They take on board investor feedback. But make sure, if it’s an up-and-running fund, that where they said they intend to buy jells with where you want to travel.” 

    Key Players: Equity Residences, Equity Estates Best For: Real-estate speculators with wanderlust 

    Other Options

    21-5

    Keep an eye on another approach that takes the equity club even further, reshaping it more in the image of a Manhattan co-op. With the rather literal approach of 21-5, a Danish company, 21 families pool their resources to buy five places in different destinations—an Alpine ski lodge, perhaps, or a beachfront villa in Greece—and make equal investments; each family is able to spend 12 weeks per year total at these homes. They have control over the investment and can collectively decide when to liquidate a property and replace it with a new home elsewhere. It has successfully operated in Europe since 2011, with more than 1,200 families participating. The recently launched GoForth, founded by a veteran of the equity-club space, Adam Capes, hopes to popularize the idea among Americans using a similar model. 

    Key Players: 21-5, GoForthBest For: Hands-on homeowners keen on complete control  More

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      Hugh Jackman’s Glitzy NYC Triplex Just Hit the Market for $39 Million

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      After more than a decade, Hugh Jackman has decided to bring down the curtain on his longtime New York City triplex.

      The Australian actor, who recently returned to Broadway in a revival of The Music Man, bought the lavish West Village triplex with his wife Deborra-Lee Furness for $21 million back in 2008, according to records. Now, the two-time Tony Award winner has put the five-bedroom pad up for sale with the Corcoran Group for $38.9 million.

      The A-lister’s 11,000-square-foot abode is located in a ​​boutique tower, known as 176 Perry Street, which was designed by Pritzker Prize-winning architect Richard Meier. It’s also the only apartment in the building to have interiors penned by the architect, according to listing agent Deborah Grubman.

      You can expect spectacular New York City vistas. 

      The Corcoran Group

      “This is a spectacular apartment where, quite simply, what you see is what you get,” Grubman told Robb Report via email.
      Starting on the eighth floor, there is a giant recreation room with a terrace overlooking the Hudson River, along with four ensuite bedrooms and a library that could be used as a fifth guest room.
      At the heart of the ninth floor lies a double-height great room. With walls of windows, it provides western sunset views of the Hudson and New York Harbor. Elsewhere on this floor, you’ll have access to a gourmet kitchen, a dining room that doubles as a gallery and a home office. There’s also a gas fireplace to keep you cozy on those cold New York winters.

      A spiral staircase connects all three floors. 

      The Corcoran Group

      The 10th floor is dedicated entirely to the lavish primary suite. It comprises a luxe bathroom with double sinks, a spa, sauna and dressing room. There’s also a studio and exercise area because, hey, Wolverine needs to work out somewhere.
      Each of the three floors has an accompanying terrace, of course, and they’re all connected by a sculptural, spiral staircase.
      In terms of amenities, the full-service condo comes complete with a high-tech fitness center, a 24-hour doorman and a concierge. Jean-Georges Vongerichten’s Perry Street Restaurant is also conveniently located inside the building. Plus, there are only 10 units in the tower in total, which means you have plenty of privacy. As for your neighbors, you’ll likely be in rare company. In addition to Jackman, celebrities such as Nicole Kidman and Ian Schrager have called 176 Perry Street home over the years.

      Check out more photos:

      The Corcoran Group

      The Corcoran Group

      The Corcoran Group

      The Corcoran Group

      The Corcoran Group

      The Corcoran Group

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      Bob Saget’s Former Brentwood Estate Just Hit the Market for $7.8 Million

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      Bob Saget may be known for a certain full house in San Francisco, but it’s the Hollywood great’s LA estate that could now be yours.

      Located in the tony neighborhood of Brentwood, the 6,600-square-foot property was purchased by the late actor-comedian for $2.9 million in 2003, according to Adam Saget of Compass. Coincidentally, the listing agent is also the nephew of the Full House star.

      Originally built in the 1960s, the two-story home was treated to a full renovation in the late 2000s just before Saget moved in with his three daughters. The former America’s Funniest Home Videos host, who died in January at age 65, later lived there with his second wife Kelly Rizzo.

      Penned by Douglas Busch Design, the modern, architectural abode sports stone and hardwood flooring throughout, along with large windows that let in an abundance of natural light. The main level comprises a welcome foyer, a large living room with skylights, a dining room, a media room and a guest room. There is also an eat-in kitchen on this floor with a fireplace, breakfast counter, stainless steel appliances and a walk-in pantry.

      Large windows throughout let in plenty of natural light. 

      Jeff Ong/Postrain Productions

      The remaining guest rooms are located on the upper level, along with a sizable terrace and the primary suite. Fit for an A-lister, the suite includes high vaulted ceilings, another fireplace, a private patio, a large walk-in closet and a spa-like bathroom with a tub and steam shower. Adam Saget told Robb Report that “Bob was very into tech.” As a result, he installed smart house controls and automation all throughout the home.
      The manicured grounds, which span around a third of an acre, feature a motor court, three-car garage, a swimming pool and a separate guesthouse with a full bath. The latter could also be used as a studio, office or gym. For those who prize their privacy, the property is also protected by a gated security wall.
      “Personally, I’m going to miss our family gatherings and holiday celebrations we shared together in the home,” Saget told Robb Report in an email. “So many great stories, lots of laughs and memories to cherish for years to come.”
      Ready to live like Danny Tanner? The Brentwood pad will set you back $7.8 million. The sale also perfectly coincides with the premiere of A Tribute To Bob Saget, a celebration of Bob’s life in comedy with his friends and family, which drops on Netflix on June 10.

      Check out more photos below:

      Jeff Ong/Postrain Productions

      Jeff Ong/Postrain Productions

      Jeff Ong/Postrain Productions

      Jeff Ong/Postrain Productions

      Jeff Ong/Postrain Productions

      Jeff Ong/Postrain Productions

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      International Treasure? Nicolas Cage Is Unloading His Private Bahamas Island for $7.5 Million

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      Nicholas Cage is feeling the unbearable weight of one massive private island.

      The Oscar-winning actor, who once owned as many as 15 luxury homes, sold off the majority of his real estate portfolio roughly a decade ago to pay back a hefty tax debt. (You might also remember reading how he blew his $150 million fortune on outlandish things like a… dinosaur skull.) But he’s still struggling to offload Leaf Cay in the Bahamas.

      The idyllic island, which is located in the Exumas archipelago about 85 miles southeast of Nassau, was reportedly purchased by the Hollywood heavyweight in 2006 for $3 million. Spanning a total of 30 acres, it offers three immaculate beaches, as well as protected deep water access for anchoring yachts or tenders.

      Leaf Cay comes complete with three beaches. 

      AP/Christie’s International Real Estate

      What’s more, the island is completely undeveloped and essentially a blank canvas for buyers. According to the listing, which is held by Christie’s International Real Estate, there are “full development approvals” to construct five cottages, along with additional support buildings. You also have the green light to convert one of the island’s two large ponds into a marina.
      Leaf Cay is in a great location, too. It’s surrounded by some 365 cays and islands that stretch more than 120 miles and feature some standout attractions. The nearby Bock Cay, for example, is reportedly welcoming a $75 million development that will include a golf course, luxury resort, marina and helipad. Leaf Cay is also surrounded by natural wonders and there is excellent fishing in the nearby Exuma Sound.

      One of the island’s two large ponds can be converted into a marina. 

      AP/Christie’s International Real Estate

      “Leaf Cay represents the last great private island opportunity at a reasonable price for a fee simple island with crystal clear title, like the beautiful waters that surround it,” Christie’s writes on the listing.
      Though Christie’s says Leaf Cay’s price is available upon request, another site called Private Islands Inc. has the island listed at $7.5 million. That means The Unbearable Weight of Massive Talent star will have made a profit of $4.5 million over 16 years. Maybe he can buy himself another dinosaur skull. More

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      Designed by Gianni Versace, This $70 Million NYC Townhouse Was Restored to Its ‘La Dolce Vita’ Glory

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      New York City’s townhouses are synonymous with luxury living, but a $70 million pad formerly owned and designed by the late, great Gianni Versace takes “la dolce vita” to extraordinary new heights.

      Located on East 64th Street, the six-story Manhattan mansion spans 14,175 square feet, with some 17 rooms spread throughout its haute interiors. Seven plush bedrooms, seven full baths and three partial baths account for more than half of the Italian Baroque-style abode, while the rest is dedicated to grand living and dining room spaces, a library, gym, game lounge, media room and office. Outside, meanwhile, there’s a stunning trellised garden spanning 3,025 square feet and a rooftop gazebo overlooking Fifth and Madison Avenues.

      The limestone façade with Versace-style doors. 

      Eitan Gamliely

      The neoclassical townhouse was built in 1950 and bought by the famed Italian designer for $7.5 million in 1995. As to be expected, the fashion icon fully redesigned the residence, adding plenty of his signature glitz and glamor.
      Custom touches include classical columns, intricate mosaics, marble floors and painted ceilings, to name but a few. The Great Room even features restored 19th-century panels on the roof that were sourced by Versace from a Florentine palazzo and depict an epic Elysian scene. Think of it as the Upper East Side’s Sistine Chapel.

      The grand primary suite 

      Travis Mark

      The manse is being sold by billionaire Swedish hedge funder Thomas Sandell and his wife Ximena. The couple bought the property directly from the Versace family for $30 million in 2005, according to records, before meticulously restoring it to its former glory.
      Nikki Field of Sotheby’s International Realty, who is co-listing the property with her daughter Amanda Field Jordan, told The Wall Street Journal that the Sandells are “Versace devotees” and that “this piece of art” will likely be snapped up by “someone who has that same reverence.”

      The luxe bathroom with double sinks, a black marble countertop and Italian-baroque details. 

      Travis Mark

      This isn’t the first time the townhouse has landed on the market, though. At one point, it was available as a rental with an asking price of $100,000 a month, according to WSJ. So, if you should ever tire of la dolce vita, you could always let Versace’s wonderland for a bit of extra dosh. Sounds like a win-win to us.
      Check out more photos of the property below:

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

      Travis Mark

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      Mark Wahlberg’s Palatial Beverly Hills Estate Could Be Yours for $87.5 Million

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      After spending less than a decade in his custom Beverly Hills compound, Marky Mark’s taking his good vibrations elsewhere.

      The rapper-turned-actor, officially known as Mark Wahlberg, recently listed his epic, château-style home for $87.5 million. It has an array of features that make the price tag worth it, too. Situated on more than 6 acres of land in the tony gated community of North Beverly Park, the 30,000-square-foot mansion boasts 12 bedrooms and 20 bathrooms. You’ll also find a movie theater, gym, wine cellar and two-story paneled library within.

      The cozy library. 

      Anthony Barcelo

      But the property’s real selling point might be all that’s located outside. The tennis court, basketball court and five-hole golf course would meet just about anyone’s recreational needs, while the private skate park is ideal for sporty kids or adventurous adults. The resort-like grotto pool, meanwhile, is the perfect place to host guests while enjoying the sunny Los Angeles weather.

      All of the outdoor amenities can be seen from an aerial view. 

      Anthony Barcelo

      The estate was designed by Richard Landry, whom The New York Times has referred to as “the king of the megamansion.” Landry has worked with numerous other celebrities, including Tom Brady, Rod Stewart and Michael Bolton, and his designs have previously been recognized as some of Robb Report’s “Ultimate Homes.”
      Landry told the Times in 2015 that he and Wahlberg “had so much fun” collaborating on the actor’s abode.

      The home at sunset. 

      Anthony Barcelo

      Wahlberg was born in Boston but his ties to LA are strong. He started out as a member of the hip-hop group Marky Mark and the Funky Bunch before transitioning to acting in the mid-’90s. Since then, he’s been nominated for two Oscars, three Golden Globes, nine Primetime Emmys and three Screen Actors Guild Awards. He received a star on the Hollywood Walk of Fame in 2010.
      The A-lister’s manse is being represented by Kurt Rappaport at the Westside Estate Agency. The brokerage has called the sale “a once in a lifetime opportunity to acquire one of the great estates in Los Angeles.”
      Given the compound’s size, the buyer would have a lot of privacy to enjoy, but they’d also be in pretty good company: New neighbors would include the likes of Denzel Washington, Justin Bieber and Sofia Vergara.
      Who needs the Funky Bunch?
      Check out more photos of the estate below.

      The grand entryway. 

      Anthony Barcelo

      The spacious kitchen features two islands. 

      Anthony Barcelo

      The wine cellar. 

      Anthony Barcelo

      The resort-like grotto pool. 

      Anthony Barcelo More

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      The Late Betty White’s Long-Time Los Angeles Home Just Hit the Market for $10.5 Million

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      Days after Betty White’s Carmel vacation home sold for well over its $7.9 million asking price, the late actor’s estate has listed another one of her charming California properties for $10.5 million.

      Located in LA’s prestigious Brentwood Park, the colonial-style abode sits on nearly three-quarters of an acre and affords prime views of the iconic Getty Museum and nearby mountains. Originally built in 1952, the retro residence was purchased by the beloved Golden Girls star and her late husband Allen Ludden in ’68, just a few years after they married in ’63.

      Spanning 3,029 square feet, the five-bedroom, six-bathroom home features an apt all-white façade that is juxtaposed with cheerful yellow accents and terracotta roofing. It offers a host of sweet amenities, too, including a pool, a three-car garage and an idyllic sunroom. To top it off, there’s a guesthouse where the Hollywood power couple played charades with fellow A-listers, such as Dinah Shore, Burt Reynolds and more.

      A backyard view of the Brentwood property’s pool and guesthouse. 

      Barcelo Photography for Sotheby’s International Realty

      Naturally, the property is gated and sits back from the street to ensure there’s plenty of privacy. The huge, park-like grounds, meanwhile, will be perfect for hosting celebrities and other well-heeled guests.
      “Betty White was a California girl through and through,” White’s estate said in a statement. “Despite living in New York when she and Allen Ludden were first married, she longed to be ‘back home’ in Los Angeles where she grew up.”

      A distance view of the spacious backyard. 

      Barcelo Photography for Sotheby’s International Realty

      White, who was born in Oak Park, Illinois, won five Emmys throughout her prolific 80-year career, starring in The Mary Tyler Moore Show, The Proposal, Lake Placid and countless other hits. She died from a stroke in December 2021 but her memory lives on in this Brentwood home.
      The listing is held by Marlene Okulick of Sotheby’s International Realty’s Pacific Palisades Brokerage. According to the firm, this is the first time the property has been on the market in over 50 years. What’s more, it’s being sold for land value. This means the value of the land itself and any improvements that have been made to it are taken into account.
      It sounds like a white-hot deal to us. More

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      After Just a Year, Madonna Relists the LA Home She Bought From the Weeknd for $26 Million

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      The ‘Queen of Pop’ is looking to flip her recent Los Angeles property grab.

      Last April, Madonna purchased a 12,500-square-foot home from R&B star the Weeknd for $19.3 million. One year later, the OG Material Girl has relisted the 3-acre property at $25.995 million, or $6.7 million more than it was bought for—ensuring a sizeable return on investment. The house is located in the star-studded Hidden Hills neighborhood and also comes with a guest cottage.

      Both structures combined house nine bedrooms, nine bathrooms and two half baths.The two-level main house boasts a minimalistic design dressed in white, with high ceilings and wide-plank wooden floors; the open-air design helps the space to feel large and airy.  Past the adjoining family room with a marble-framed fireplace lie a formal dining area, neon-lit wine cellar, an office and a screening room. All seven bedrooms are located on the second floor, including the master suite which has a huge walk-in closet and private terrace. It even has its own luxe marble-lined bathroom with a separate tub and shower, naturally.

      Backyard view of the property’s infinity-edge pool. 

      Redfin

      As you venture outside, you’ll find a variety of amenities to keep you entertained. For starters, the property features an infinity-edge saltwater pool and an eye-catching orange neon basketball court. Horse breeders and riders alike will also be able to house their brood in the home’s eight-stall barn. And though the 63-year-old singer did add her own personal touches to the home, including a newly built gym and yoga studio, new owners may consider the property’s neon-lit, five-bay garage its crown jewel.

      A look inside the master bedroom with a private terrace. 

      Redfin

      The Weeknd, whose real name is Abel Tesfaye, picked up the home for $18.2 million in 2017. While the “Blinding Lights” singer has since upgraded to a nearly $70 million mansion in Bel-Air, you’ll still find yourself surrounded with big-name neighbors like Drake, Will and Jada Pinkett Smith and some of the Kardashians. Best of all, the home has a security gate and driveway that will keep unwanted visitors (and paparazzi) out and at a distance.
      Representatives for Madonna didn’t say why she’s making this move, reports The Wall Street Journal. But it’s safe to say that, if sold for asking, this is a win-win situation for all parties involved. The Agency holds the listing; visit their website for more details.

      Check out more images below.

      The orange basketball court makes the home easy to spot from above. 

      Alfred Yson

      Alfred Yson

      Karina Guevara

      Alfred Yson

      Redfin

      Redfin

      Redfin

      Alfred Yson

      Alfred Yson

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      Roman Abramovich’s French Riviera Mansion Was Just Seized by Authorities

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      Russian billionaire Roman Abramovich is hemorrhaging assets amid the Russia-Ukraine war.

      The reputed Vladimir Putin ally, who was sanctioned by the UK, the EU and Canada in March in response to Russia’s invasion of Ukraine, has just had 12 of his prized Gallic properties seized by French authorities. Among them is an historic villa situated in one of the most prestigious parts of the French Riviera.

      Dating back to 1926, the storied Château de la Croë once belonged to the former King of England Edward VIII and American socialite Wallis Simpson. Fit for royalty—the Duke and Duchess of Windsor, specifically—the palatial abode sits on 12 lush acres just a few feet from the Mediterranean sea. Inside, it offers 12 bedrooms, eight bathrooms and a spate of royally good amenities.

      Château de la Croë was once owned by the Duke and Duchess of Windsor. 

      Leslie Priest/AP

      Abramovich purchased the château from an unknown party in 2001, before spending a reported $40 million on renovations to add a rooftop swimming pool, gym and cinema. The lavish pad is reportedly now estimated to be worth around $117 million.
      French authorities have also seized the oligarch’s estate on St. Barts, condos in Paris and villas in Nice. The total value of his seized properties is in the ballpark of $340 million, according to Forbes.

      Abramovich reportedly spent $40 million renovating the French château. 

      Wikimedia Commons

      The move was part of a major operation that has seen more than $26 billion worth of cash, properties, yachts, helicopters and other assets belonging to sanctioned Russians confiscated or frozen in recent weeks, according to France’s Economy and Finance Ministry.
      Abramovich, who is believe to be a confidant of Russian President Vladimir Putin, has been a major target of Western sanctions. So far, he has been forced to sell his London soccer team Chelsea and has sent his two prized superyachts to the Mediterranean to avoid seizure. Not to mention, the island nation of Jersey, part of the Channel Islands, froze $7 billion worth of his assets this week. More