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From the listing of the Gucci family’s Rome villas to the sales launch of a RAMSA-designed property in Miami, there is always news in the world of real estate. In this roundup, AD PRO has everything you need to know.
On the Market
A pair of villas owned by the Gucci family
A little Gucci glamour goes a long way. Former Gucci chairman Aldo Gucci’s heirs are selling off a pair of Rome villas built by Aldo for $16.5 million. The 13,000-square-foot primary villa was completed in 1951, following the former chairman’s move to Rome in the late ’40s, according to the listing. Its rooftop terrace offers a priceless view of the Altare della Patria at the center of Rome. The secondary villa, which measures roughly 9,600 square feet, was built in the early 1960s for one of Aldo’s sons. Though it is in need of renovation, its expansive size and separate entrance make it suitable for renovation into apartments.
The two buildings share a British influence with an abundance of floral wallpaper throughout, owing to Gucci’s first wife, the English-born Olwen Price. The property measures two-and-a-half acres and is surrounded by a large gate for privacy. Beyond the vast lawn lies a greenhouse and a swimming pool, which is accompanied by an outbuilding with a bathroom and changing room for convenience. The listing is held by Forbes Global Properties, with Chiara Gennarelli as advisor.
Naeem Khan’s dramatic and luxe downtown Miami home hits the market
Fashion designer Naeem Khan’s dresses have been worn by glamorous women the world over, including Beyoncé, Michelle Obama, and Princess Kate Middleton. Now, some lucky buyer will have the opportunity to live in one of Khan’s designs. Located in the eye-catching Ten Museum Park condominium in Downtown Miami, the three-story penthouse boasts an abundance of windows, both interior and exterior, allowing the precious Miami sunshine to penetrate each living space.
The fashion designer and his then wife Ranjana Kapadia put their own spin on the pad after purchasing it in 2008 for $1.5 million. “The bright light makes us happy,” Khan told AD when the home was featured in the September 2015 issue of the magazine. The 20-foot-tall living room is anchored by a chandelier Khan commissioned from the Crystal Shop in Delhi to recall the glasswork of Indian maharajas’ palaces, per the AD feature. Other luxurious details include an infrared sauna, a spacious terrace, and a rooftop plunge pool with views of Downtown Miami and Biscayne Bay.
The home is listed for $2.9 million with Melissa Rubin of Compass.
A Lloyd Wright–designed home in Long Beach is for sale
Four years after Lloyd Wright (a.k.a. Frank Lloyd Wright Jr.) erected his celebrated Wayfarers Chapel in Rancho Palos Verdes, California, he built a family residence in nearby Long Beach—and now, it can be yours. The 1955 build is listed for $2.595 million, down from the $2.95 million it was first listed for in March before it was briefly taken off of the market in October.
The home was extensively renovated by the current owners after their purchase in 2021. Improvements include a new roof, upgraded electrical and plumbing, new custom windows, and new HVAC. Preserved original elements include the cinderblock dual-facing fireplace, slatted interior and exterior walls, built-ins in the closets and in the office, and the concrete steps and outdoor back patio. The most significant change to Lloyd Wright’s design might be the conversion of the covered carport at the front of the home into a rooftop deck enclosed by glass railing.
With its triangular overhanging, the Long Beach home recalls the now demolished Moore House of Palos Verdes that Lloyd Wright designed. Built four years after the Long Beach property in 1959, the home was at the center of an extended battle for preservation between 2010 and 2012, per Curbed, including an appeal from the Los Angeles Conservancy.
The listing is held by Nancy Deprez at Sotheby’s.
Notable Sales
A record breaking $65.8 million sale in The Plaza
As reported by The Real Deal, a new record has been set for priciest condo in The Plaza. Both the buyers and sellers are anonymous in the $65.8 million deal for unit 1109, which closed at the end of October. Prior to that, the 12,000-square-foot condo was last sold in 2008 for $45.9 million. The 2023 sale breaks the record set by real estate developer Harry Macklowe and ex-wife Linda Macklowe’s 2007 sale of seven contiguous apartments in The Plaza for $60 million.
Along with clinching The Plaza price to beat, the sale is among the most expensive deals to close in New York in 2023, per The Real Deal. It currently ranks as the fourth top sale, after $80 million and $75 million units at Vornado’s Central Park South and the $67.9 million sale of 1165 Madison Avenue’s penthouse this spring. Neither the buyers or sellers of unit 1109 have been identified.
A Beverly Hills home with a musical past is picked up for $10.5 million
“Splish Splash” singer Bobby Darin’s former home in Beverly Hills has sold for $10.5 million, per Mansion Global. Darin lived in the North Rodeo Drive property between the years of 1967 to 1969, at which point the home was passed to Noel Blanc, who once voiced Elmer Fudd and Porky Pig of Looney Tunes (reprising the roles once voiced by his father, Mel Blanc).
Darin may be the most notable musician to have owned this Beverly Hills home, but its musical connections are much more broad—and modern—than just the ’50s crooner. The home’s guest house includes a state-of-the-art recording studio, and according to Mansion Global, the space has been used by a slew of musicians, including Red Hot Chili Peppers, Black Sabbath, Carlos Santana, and Whitesnake. The immediate surroundings of the home have copious Old Hollywood credentials, too, with Gene Kelly’s home of 50 years located just down the block and Lana Turner’s much buzzed-about home—the site of the 1958 Johnny Stompanato stabbing—located four blocks down.
The 1922 build and its guest house measure 6,900 square feet and have been meticulously renovated to modern standards. Though the expansive recording studio rightfully claims much of the attention, the home’s backyard is an asset in and of itself. Landscaped to frame a waterfall pool, the space offers a secluded retreat for homeowners and visitors alike. The listing was held by Michael Rabbani of Rodeo Realty.
Sales Launch
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Robert A.M. Stern Architect’s first Florida residential high rise launches sales
Real estate development firm Related Companies has announced the sales launch for West Palm Beach’s South Flagler House. The property was designed by AD100 Hall of Fame listee Robert A.M. Stern Architects (RAMSA) and will stand as the firm’s 17th building with Related Companies. RAMSA is known for their traditional approach to contemporary comfort, and this outlook is fully embodied by the high rise building’s design, beginning at its greenery-lined circular motor court through which residents will enter.
The two-tower property’s long list of amenities includes a 25-meter lap pool, a golf simulator, a fitness center, games rooms, lounges, coworking spaces, and more. Interiors were designed by New York design firm Pembrooke & Ives, who’ve worked plenty in the area before, most notably on a redesign of John F. Kennedy’s so-called Winter White House in Palm Beach.
Prices range from $5.9 million to $72.5 million for the 108 homes in South Flagler House. “Related Companies is bringing a new landmark to West Palm Beach’s premium waterfront with the upcoming sales launch of South Flagler House, an iconic Robert A.M. Stern residential tower, poised to be one of the finest buildings in the world,” said agent Suzanne Frisbie of Frisbie Palm Beach in a release. Frisbie will lead sales for South Flagler House alongside Corcoran Sunshine Marketing Group. “This luxury property combines beautifully proportioned homes with expansive amenities and programming, affording condominium living previously unavailable in the Palm Beaches.”
New Development
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A reawakening of Hôtel Le Provençal
Nearly 100 years ago, after its opening in 1927, the Hôtel Le Provençal helped put the French Riviera on the map as a summer destination. Ernest Hemingway and Sir Winston Churchill enjoyed the bar, Ella Fitzgerald serenaded viewers from an upstairs window, and Charlie Chaplin lived there in the ’30s. The hotel shut down in 1977, but now property development company Caudwell is in the final stages of breathing new life into the fabled building. This week, they announced the restoration of the property and its conversion into 39 residences from 290 hotel rooms.
Parisian architecture and interior design agency Affine Design is handling the restoration, aiming to honor its refined Art Deco heritage first created by architect Lucien Stable and interior designer David Dellepiane. According to the Times, the apartments will range from one-bedroom units to a seven-bedroom penthouse. The three penthouses each have their own swimming pool, terrace, and private elevator that offers access to the underground garage. The restoration is scheduled to complete in early 2025. US buyers are expected to lead purchases.
Sales Launch
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Bay Harbor Towers comes to market in Miami’s Bay Harbor Islands
South Florida PPG Development and L3C Capital Partners are officially launching sales for Bay Harbor Towers, their eight-story waterfront condominium on the Indian Creek Waterway. Miami mainstay Kobi Karp is responsible for the building’s architecture, while Steven G. designed the interiors and CLAD handled the landscape architecture.
PPG Development founder Ari Pearl described the building as “a project curated around inspired living,” in a release. “At PPG Development, we take pride in delivering projects that feature intentional spaces designed with the buyers' lifestyles in mind,” he continued. Building amenities will include a wellness center, an indoor heated saltwater lap pool, a rooftop pool, and a private marina. The units themselves include wraparound terraces, oversized soaking tubs, and in the penthouse and bathhouse residences, private pools, summer kitchens, and outdoor lounge areas. Views of Biscayne Bay and the Atlantic Ocean are centered throughout.
The 44 residences range from two to four bedrooms and prices start at $1.9 million. Fortune Development Sales will lead the sales exclusively.
News
A $1.8 billion lawsuit will impact home buyers and sellers across America
Ordering $1.8 billion in damages, a federal jury in Missouri recently ruled that the National Association of Realtors (NAR) and several large residential brokerages were guilty of artificially inflating real estate agents’ commissions. NAR plans to appeal the decision, according to CNN.
The severity of the commission structure changes to come from the verdict have yet to be seen, and will depend on what the federal judge calls for, though the verdict is sure to affect home buyers and sellers across the country. The lawsuit took aim at high buyer commissions that are built into sales prices and contribute to the escalation of already record-high home prices. Changes could range from buyers paying their agents by the hour to completely reimagined structures offered by startups, according to the Wall Street Journal.
