EXPO 2015 Shapes Milan’s Classic Skyline

Post provided by guest contributing blogger, Diletta Carutti, Social Media Manager, Milan | Lake Como | Tuscany Sotheby’s International Realty in Italy.

Not only is Milan a fashion capital, famous worldwide for its luxury shopping districts, excellent cuisine and the “Teatro alla Scala” opera house, it is also Italy’s most dynamic business city.  Many view the real estate investment industry as one of the key drivers leading Italy’s future, and as Milan prepares to host the 2015 Universal Exposition (World’s Fair), the city has been changing its skin. Dozens of new construction developments have been popping up across the city, forming new Palazzos that are transforming Milan’s skyline.

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Price Upon Request| Milan, Italy | Milan Sotheby’s International Realty

Porta Nuova is one of the most remarkable developments in Milan, if not in the whole country. Approved in 2004, this project comprises an area of approx. 3,660,000 sq.ft. and includes several high-rise buildings, cultural centres, a large city park and a new metro line stop, in addition to underground parking.

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Price Upon Request| Milan, Italy | Milan Sotheby’s International Realty

Living in one of  Porta Nuova’s new residences is like embracing a new lifestyle where the sobriety of a private villa inspired by Milanese signature architecture meets the modern and international features of a high-rise building. In order to satisfy the growing demand of a clientele looking for turnkey homes, the interiors can be furnished with some pieces of the Meissen home collection (http://www.meissen.com), one of Europe’s most tradition-rich houses of fine art and hand-crafted luxury.

“Our clients are always more demanding in regard to the condition of the apartments and their amenities,” says Luca D’ Angelo, head of sales at Milan Sotheby’s International Realty.  “We see a lower turnover on the market for those apartments requiring big renovation and not immediately available for move-in. House prices decrease by 15% on average compared to those of 2010 and this reduction is even more significant for the second market compared to new developments.”

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Price Upon Request| Milan, Italy | Milan Sotheby’s International Realty

In the exclusive central streets defined by elegance and history, the prices of the apartments boasting views of green courtyards, and with privacy and comfort, have been stable on an average of € 13,000 per square meter. Within the Fashion District, besides the very top luxury homes, there are excellent investment opportunities in one or two-bedrooms-apartments with 6% yield for short term rentals, which are now often in demand thanks to the EXPO Milano 2015.

Via Borgospesso_Milan_Italy

530,000 € EUR | Milan, Italy | Milan Sotheby’s International Realty

“For a clientele looking for good deals, I recommend semi-central areas such as Fiera, Sempione and Repubblica,” says Laura Torrielli, senior sales manager at Milan Sotheby’s International Realty. “In these districts, upscale apartments in iconic palazzos such as those designed by the famous architect Giò Ponti are selling at prices 20% less compared to those a few years ago.”

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1,550,000 € EUR | Milan, Italy | Milan Sotheby’s International Realty

View Luxury Real Estate for Sale in Milan >

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Many thanks to our guest blogger, Diletta Carutti from Milan | Lake Como | Tuscany Sotheby’s International Realty, which offers its international and local clientele a wide selection of luxury properties in the top location of Italy such as Milan, Lake Como, Lake Maggiore, Florence, Chianti, Tuscany, Sardinia, Italian Riviera, Capri Island, and the Alps

A Collector Bridges the Gap

Post provided by Alexandra A. Seno for Sotheby’s Magazine.

TAIPEI – Taiwan-based businessman Pierre Chen is one of Asia’s leading collectors of Western contemporary art. Now, as Alexandra A. Seno reports, Chen is bringing the collection he lives and works with to a wider audience, and in the process, connecting the East with the West.

Museo del Prado 4, the subtly dramatic Thomas Struth photograph, dominates one wall of a conference room at the Yageo Corporation global headquarters, just outside Taipei. The German photographer’s large-scale work, part of his iconic Museum Photographs series, focuses on a group of students on a trip to the great Spanish art institution. The boys and girls linger indifferently in front of Las Meninas, the 1656 painting by Diego Velázquez that has inspired generations of artists, from Pablo Picasso to Francis Bacon.

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Pierre Chen, collector and businessman at home in Taipei, where a painting by Georg Baselitz hangs behind him. Photograph by Andrew Loiterton.

Walking into the empty conference room – which otherwise fits about 30 – Yageo founder Pierre T.M. Chen gives the photograph a quick glance before he settles down at the table. The Taiwan-trained computer engineer started Yageo in 1977 and built the company into one of the world’s biggest electronics components manufacturers, with average yearly sales of US$800 million. He has nine factories and offices in seventeen countries, and is actively engaged in Yageo’s day-to-day management.

Chen says: “My business changes very quickly. I am fighting everyday because there is always some new technology coming to the market. For me to have balance in my life, I need art and music.” Hundreds of pieces adorn his offices and homes, and even more are in storage. But starting this summer, four prestigious Japanese museums will exhibit 76 works from Chen’s collection.

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In a Tokyo residence, Peter Doig’s Canoe Lake has pride of place in the dining room. Jean-Baptiste Huynh’s Inde-Portrait XXIX and Josè-María Cano’s  RM-Kate Moss Flank the doorway. Photographs courtesy of the Yageo Foundation

It will be the first time that the institutions will show a single, private collection of modern and contemporary art, and it is also the first occasion in Asia that works from the Yageo Foundation can be viewed together in public. The tour begins in June at the National Museum of Modern Art in Tokyo (MOMAT), and then proceeds to the Nagoya City Art Museum in September, the Hiroshima City Museum of Contemporary Art in December and finally the National Museum of Modern Art in Kyoto in March 2015.

MOMAT curator and organiser of the exhibits Kenjiro Hosaka wanted to collaborate with Chen not only because Japanese museums do not usually have access to such works, but also because he was drawn to the collection’s “energy to bridge the gap between Eastern and Western art, which museums in Japan have struggled with for many years.”

“I decided to accept the invitation from Japan because the museum is professional, and because Japanese audiences have a mature appreciation for art. They admire traditional things and also what is new. I also consider Japan as my retirement destination of choice,” says Chen, who keeps a Tokyo apartment, conveniently just five minutes away from MOMAT.

 

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The living room of one of Chen’s Hong Kong homes, with Gerhard Richter’s Abstraktes Bild andMark Tansey’s Mont Sainte-Victoire. Photographs courtesy of the Yageo Foundation.

Born in Tainan, Chen grew up in Kaoshiung to a middle- class family that could trace their roots in Taiwan back for 200 years. He enjoyed going to galleries, and as a student in 1976, he made his first art purchase: a wooden, coconut-sized sculpture by Hong Kong artist Cheung Yee. It cost 25,000 Taiwanese dollars, a sum that took him a year and a half to save as a part-time computer programmer. He proudly keeps it in his office today.

When his company began to do very well, Chen started collecting Chinese artists because he was inspired by their work. As his business expanded to other countries, he would travel, and says he “liked going to museums and galleries because they are a good place to learn.” He read voraciously about art and went to exhibitions, habits he continues today. “I am still discovering,” he says, his eyes lighting up behind his serious, black-framed glasses.

In recent years, Chen has been most excited by Western contemporary art. He took the leap in the mid-1980s and bought an untitled Cy Twombly work because it made him feel “calm,” and later a yellow Warhol fright wig self-portrait because he thought it was “so fresh.” Continue Reading >

Luxury Real Estate Headlines: Third Week of July 2014

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$44,000,000 USD | New York, New York | Sotheby’s International Realty-East Side Manhattan Brokerage

Jackie Kennedy Onassis’s childhood home is now on the market at uber posh 740 Park Avenue, which is still considered the city’s most elite trophy address.

Jackie O’s childhood home asks $44M at 740 Park Ave — New York Post

Sotheby’s International Realty Network Welcomes Washington Firm — Sotheby’s International Realty

Magna Carta Island Hits the Market The Wall Street Journal 

House of the Day: House Boat for Land Lovers The Wall Street Journal 

On the Market: A Historic Country House in Monticello, GeorgiaArchitectural Digest

On the Market: A Savannah Charmer with Water ViewsArchitectural Digest

On the Market: A Castle in the Tuscan HillsArchitectural Digest

On the Market: Katharine Hepburn’s Estate in Old Saybrook, ConnecticutArchitectural Digest

Home of the Day: Curvy Midcentury Modern in Brentwood Los Angeles Times

Realogy Agrees to Buy ZipRealty for About $166 MillionBloomberg

A Warhol With Your Moose Head? Sotheby’s Teams With EBayThe New York Times

World’s Most Famous Watch for Sale —Artnet News

Washington D.C. Real Estate | Market Spotlight

Washington DC_Market Spotlight

$9,800,000 USD | Washington D.C., USA | TTR Sotheby’s International Realty 

“The market in Washington, D.C., has been active and prices are up 10 percent over last year – however we did experience a late start to the season (known as frozenomics),” said Michael Rankin, managing partner, TTR Sotheby’s International Realty.

“As April has turned to May, we see low inventory across multiple price points. This alone has had the biggest impact on the velocity of the market in the Washington, D.C., area. During the first several weeks of April, we have seen significant increases in activity at TTR Sotheby’s International Realty. Despite market trends, year-to-date sales for the firm have increased 25 percent year-to-date versus 2013, and we have continued to set new records, including the $18.6 million sale in March of the historic River View Estate in Alexandria and the Patterson Mansion, listed for $25 million, which will close in May.”

Search Luxury Real Estate in Washington D.C. >

Stunning Custom Built Residence in Toronto, Canada | Luxury House Tour

Custom built residence featuring 8,000 square feet of finished living space. High quality finishes throughout, open concept entertaining areas. Finished walk-out basement with theater/media room, gym and nanny suite. Enjoy outdoor lifestyle in the private oasis rear grounds designed by Janice Rosenberg.

3 499 000 $ CAD | Toronto, Canada | Sotheby’s International Realty Canada

Inspired by Tour de France | French Countryside Homes

The Tour de France is underway and while each year the course takes a slightly different route, it often winds through the French countryside. Explore these exquisite luxury homes in France with just the right amount of country charm.

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2.200.000 € EUR | Saint Remy De Provence, France | Propriétés de Provence Sotheby’s International Realty

This welcoming country house is just a few minutes walk from the center of Saint Remy de Provence. The home features six bedrooms and a large living room of about 100m2 with a fireplace which opens to a shaded terrace. The beautifully designed garden provides a welcoming invitation for relaxing around the pool.

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Price Upon Request | Anduze, France | Immobilière Foch Sotheby’s International Realty

This wine estate between Provence and Cevennes, includes a large country house overlooking the rolling countryside. The property is home to a beautiful garden with numerous species of flowers and plants including over 500 feet of ancient roses.The environment is truly a haven, offering a beautiful view of the landscape and surrounding hills.Grasse_France_Tour de France

2.900.000 € EUR | Grasse, France | Côte d’Azur Sotheby’s International Realty

Located in a peaceful area between Grasse and Chateauneuf, this charming stone house has a beautiful view, a swimming pool, and a garret which could be converted into a guest apartment. The property is beautifully landscaped and filled with fruit trees.

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2.675.000 € EUR | Saint Remy De Provence, France| Propriétés de Provence Sotheby’s International Realty

This magnificently restored 17th and 18th century farmhouse is situated just a few minutes from Saint Remy de Provence. The home is set on 9 acres of landscaped grounds and olive groves. There is an immediate feeling of warmth and authenticity on entering this country home, complete with a modern pool and mountain views.

See More Homes in France >

Sotheby’s International Realty Network Welcomes Washington Firm

Sotheby’s International Realty Affiliates LLC today announced that  Main St. Brokerage, LLC in Woodinville, Washington, is the newest member of its real estate network and now will operate as Marketplace Sotheby’s International Realty.

Chad and Aaron Shriner are broker/owners of the firm, which has one office in Woodinville and one scheduled to open later this year in Redmond, Washington.  With the addition of this firm, the Sotheby’s International Realty® brand will have eight independently owned and operated offices throughout the state of Washington.

“Marketplace Sotheby’s International Realty is centrally located in the heart of the western Washington wine country,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC.  “Known for its unique beauty, the location has become a point of tourism for wine aficionados.  With more than 60 years of combined ownership and management experience, Chad and Aaron have a great depth of knowledge in their market.”

According to Aaron Shriner, the Sotheby’s International Realty brand affiliation creates new opportunities for their agents and offices.  “Our focus is on working together as a team to provide the best service and experience to our clients,” he said.  “Through the quality service we provide, we aim to be in a class of our own.  With the support and global reach of this brand, we believe we can achieve that.  We have a very savvy clientele and work to be their trusted real estate advisor.”

The Sotheby’s International Realty network currently has more than 15,000 independent sales associates located in approximately 700 offices in 54 countries and territories worldwide.  Marketplace Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website.  In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs.  Each office is independently owned and operated.

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Luxury Real Estate Headlines: Second Week of July 2014

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$10 980 000 CAD | Vancouver, Canada | Sotheby’s International Realty Canada

Sales of million-dollar homes in Canada’s largest cities shot through the roof in the first half of this year, according to luxury real estate agency Sotheby’s International Realty Canada, which expects the market to heat up even more in the second half of this year.

Luxury Home Sales In Canada See Massive Growth: Sotheby’sThe Huffington Post

On Britain’s South Coast,’ Playground’ for the Rich – The New York Times

Henry Ford Home Vying for Record Shows Calgary Booming –Bloomberg 

Ranches for Sale Roundup Architectural Digest

On the Market: A Sprawling Villa in Costa Brava, Spain Architectural Digest

Prima Luce Tuscan-style Villa Haute Living

House of the Day: Waterfront Setting Inspires Love of Sailing The Wall Street Journal

Europe House of the Day: Luxury Village HomeThe Wall Street Journal

Asia House of the Day: High-Rise Living in the PhilippinesThe Wall Street Journal 

Former NFL tailback Rashard Mendenhall retires to Santa MonicaLA Times

Hamptons Estate Lists for $65 MillionThe Wall Street Journal 

With Old Masters, the Brand Is KingThe New York Times