Trump Associate Felix Sater Selling His $2.5M Long Island Manse

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Called one of the “most colorful characters” in the ongoing Justice Department investigation into ties between President Donald Trump and Russia, real estate developer Felix Sater is now selling his home in Sands Point, NY, for just under $2.5 million.

The four-bedroom, 3.5-bath, 3,600-square-foot home is surrounded by lush foliage, and walls of arborvitaes offer privacy for lounging by the pool. It’s a pristine Long Island property on nearly 2 acres that any family would love to call home.

According to listing agent Kathy Levinson, the home built in 1950 has a bit of Hollywood history. Paul Newman lived there while filming a movie in the area.

The property features an expansive bluestone patio around the pool with a fire pit, gardens, a gazebo, large lawn, and more. The interiors have been updated with smart home technology, a home generator, and radiant heat in the large kitchen. There’s even a 60-foot-long walk-in closet.

Aerial view

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Closet

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Sater’s name might be familiar if you’ve been following the monthslong investigation into the president’s ties with Russia. The real estate developer has a longstanding business relationship with Trump and the Trump Organization.

Born in Russia and raised in Brooklyn, Sater was reportedly tasked with spearheading an effort to build a Trump Tower in Moscow. Copies of emails Sater sent to longtime Trump attorney Michael Cohen, showing his behind-the-scenes political efforts on Trump’s behalf, became public last summer.

Pool

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“Our boy can become president of the USA and we can engineer it,” Sater wrote about his role as a Trump-Putin go-between, according to The Nation. “I will manage this process. … I will get Putin on this program and we will get Donald elected.”

Sater founded Bayrock, the firm behind the Trump SoHo project, from which the Trump Organization recently announced it will pull out. According to Business Insider, Trump worked with Bayrock on at least four projects during the 2000s.

These revelations have put Sater in the middle of special counsel Robert Mueller‘s examination of connections between Trump’s associates and Russia.

But don’t think that Sater is retrenching because of all the legal and media attention. Levinson says her client is selling the home, which he purchased in 2004 for $1.75 million, because the family is upgrading to a waterfront property.

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$55M ‘Timeless Masterpiece’ on Long Island Is This Week’s Priciest Property

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A sprawling waterfront property sheltered by its own private cove in Lloyd Neck, NY, is this week’s most expensive new listing on realtor.com®.

Dubbed “Sassafras,” the $55 million Tudor-style home was built in 1987. The massive 20,000-square-foot estate sits on a 47-acre spread on Long Island’s tony North Shore.

The estate includes eight bedrooms, 12 baths, two 5,500-square-foot guesthouses, a teahouse, dock, private beach, tennis courts, cabana with full kitchen and deck, and extensive gardens. Additional outdoor offerings include a pool, plus a gazebo with bar, bathroom, outdoor shower, and hot tub.

The owner designed the home in homage to the British architect Sir Edwin Lutyens by “incorporating traditional Tudor architecture and the vernacular styles of south-east England style into a timeless masterpiece,” according to the listing. The property is “one of the Gold Coast’s largest private landholdings.”

Tudor-style home on 47 acres on the North Shore of Long Island

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Living room with coffered ceiling

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Private beach

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Pool

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The main residence has 25 rooms, and architectural flourishes include exposed beams, a 48-foot-high ceiling in the grand entrance, and a coffered ceiling in the living room. The formal dining room is wrapped by an outdoor terrace and features water views. The master suite includes views of the Long Island Sound.

The property is set amid nature preserves as well as trails for horseback riding and mountain biking. Yet, it is located just 50 miles from Manhattan, or 15 minutes by helicopter. And yes, there are two helipads on the grounds of the estate.

The place was last sold in 2002 for $765,500, according to property records. The listing agent for the estate is Philip Laffey.

The current owner is known only as Laval Properties Corp N.V., which has a New York City address. The property was listed on the market about a decade ago for $60 million with no takers. But Sassafras did have a brush with celebrity: It was rumored to have been leased by Angelina Jolie  and Brad Pitt in 2009, according to Variety.

Another summer renter decades before, Kutayba Alghanim, raised the ire of neighbors in this exclusive enclave by commuting to Manhattan by helicopter back in 1979, according to the New York Times.

The wealthy industrialist from Kuwait had apparently wanted to buy the place and install a landing pad (which eventually happened), but was temporarily restrained by a group of local residents. It is unclear if Alghanim or a later resident succeeded in installing the helipads.

Either way, the property is helicopter-friendly now, for those whose lifestyle includes travel by chopper.

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Why Are Candles So Freakin’ Expensive? A Must-Read Holiday Rant

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‘Tis the season to light a candle, or a dozen—in fact, Candles.org estimates that Americans spend $3.2 billion (yes, billion) a year on these flaming sticks of wax. And to be fair, many candles are dirt-cheap. Yet on the other end of the spectrum, there are candles so pricey, people don’t dare to light them since this amounts to hundreds of dollars going up in smoke. Seriously, what’s up with that?

According to candle makers at least, there are many valid reasons why candles can cost a pretty penny. First, there’s the quality of the wax. Beeswax is the priciest, according to Christine Flores of the Beeswax Co., and runs 10 times more than the usual paraffin. Beeswax costs more due to the mind-boggling fact that it takes about 8 pounds of honey to net 1 pound of beeswax.

Then there’s a candle’s scent. Surveys put the number of available candle fragrances at 10,000. And, similar to pricey perfumes, these pleasing odors are made of ingredients such as rose essential oil that “can run over a couple of hundred dollars for a small container,” says W. Jonathan Poston, who has worked as a pricing consultant with candle makers.

Then again, Poston also says that many candle companies jack up their prices simply to send out the message that they are true luxury products.

In other words, that cute candle that graces your dining room table, or the one you light to chant your oms every night, might just be a rip-off, plain and simple.

But hey, it’s the holidays! So if you absolutely must splurge, here are some tips: For starters, make sure to factor in the burn time, which is typically on the label somewhere. If an expensive candle lasts a long time, then maybe it’s worth the extra cash.

Another cool tip? If you want to get more bang for your candle buck, slow the burn time by snipping the wick. Shorter wick = slower burn.

And in case you don’t believe us, here’s a rundown of some of the most expensive candles that somehow have devoted fans who buy them.

Fornasetti scented candle with lid ($175) Come on baby, light my hand-poured fire.

Amazon

This will come as a surprise to absolutely no one, but surveys show that 90% of all candles—like this one above—are purchased by women. One online reviewer confesses that, “this is my third Fornasetti candle with lid. Can’t seem to stop buying them despite the price tag.”

So why is it so steep? This one is hand-poured and, according to Traci Pichette, founder of Pumeli.com, who uses candles in her curated gift boxes, “hand-poured candles cost more due to the labor involved.” (Um, we’ll take a boring, old machine-poured candle any day if it’s cheaper.)

Burn time: 70 to 80 hours

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Cedar wood-scented candle by Burberry ($495) From trenchcoats to candles?

Burberry

A company renowned for raincoats is a player in the candle biz? Yep. Hence why this five-wick candle is, according to the product description, “presented in a hand-glazed black ceramic holder that evokes one of the classic Burberry Heritage Trench Coat shades.” Imagine that, a trenchcoat candle!

Still wondering why this candle that smells like “intense precious wood” is so pricey? Consider that Burberry argyle socks cost $135 a pair. (Translation: You’re paying for the status symbol a brand name such as Burberry affords.)

Burn time: 185 hours

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Jo Malone London pomegranate noir luxury candle ($470) Wick-ed expensive

Jo Malone

Jo Malone pioneered luscious, unusual scents for perfumes and colognes in her native Britain in the 1990s, and her eponymous products went on to become one of England’s most famous fragrance brands. It’s no wonder Malone branched out to the lucrative candle industry with products such as this outrageously exorbitant pomegranate noir five-wick wonder. Is it worth shelling out half-a-thou to enjoy it?

“The best fragrance you have ever used,” insists Aisha O. in an influenster.com review. God bless, Aisha O!

Burn time: 230 hours

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Diptyque baies / berries 5-wick ($295) Oh-la-la!

Diptyque

Diptyque helped pave the way for the ultrafancy candle boom when then–Gucci designer Tom Ford put these wallet-busters in his stores. The candles now enjoy a “cult-like following among the entertainment and fashion crowds,” according to the New York Times. The brand’s most popular candle starts at around $65, and prices go up to $295.

Burn time: 293 hours

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Voluspa Hearth 5-wick candle ($198) The electroplated glass of this candle claims to mimic the glow of a fireplace.

Voluspa

This hand-poured Goji Tarocco Orange–scented candle is made of a proprietary coconut wax, which accounts for at least part of its hefty price tag. Coconut wax, you see, isn’t so easy to make. First you have to gather up all those coconuts and cold press the oil out of the meat. That oil then becomes wax through hydrogenation. The result is a creamy, clean-burning wax that’s better at holding scents than, say, your ho-hum paraffin wax. (No word, though, on what tarocco is.)

Burn time: 250 hours

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Spiritus Sancti great candle by Cire Trudon ($495) Hey, at least shipping is free!

Barneys

Founded in 1643, Cire Trudon is one of the oldest wax-producing factories in the world and once provided candles to Louis XIV (aka the Sun King). That lineage may account for the price, or the sky-high cost may be chalked up to the brand’s hand-crafted glass container.

Burn time: 200 hours+

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Hermès Nuit du Solstice candle bowl, large ($450) Hermès doesn’t just make candles.

Bergdorf Goodman

Yes, ultraluxe accessories brand Hermès is now hawking a scented porcelain candle bowl with a red enameled finish. When the candle burns away, at least you’ll have a cool bowl to save pennies in, right? (And if you thought Burberry socks were costly, Hermès baby socks run an eye-popping $245.)

Burn time: 105 hours

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One-of-a-Kind Lake Tahoe Mountain Retreat Marries Nature And High Design

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Built into a pristine mountainside overlooking crystal-blue Lake Tahoe, the Phoenix House in Carnelian Bay, CA, offers one-of-a-kind harmony with nature. Now on the market for $1,574,000, the home is looking for an owner who will appreciate its signature style.

Constructed from reclaimed redwood, this incredible home is just over 3,000 square feet and spans four floors, each lined with decks to allow for maximum views of the surrounding scenery,

Dubbed the “Phoenix House” by the original owner, architect Walt Harvey, the home was built in the early 1970s on the site of a house Harvey owned which burned down, according to listing agent Linda Granger.

The Phoenix House

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Harvey, then a professor of architecture at California State University, Sacramento, invited his students to Lake Tahoe during the summers to work on building the home that stands today as part of their education. The name “Phoenix House” was symbolic of Harvey’s rebirth after a series of personal tragedies, including the death of his daughter and the end of his marriage, Granger says. So on the spot where his home once stood, Harvey set out to create something memorable. Mission accomplished.

There are many experimental features of the house, rooted in the Frank Lloyd Wright philosophy of “organic” design. Wright believed a structure should exist in harmony with nature. Granger says the influence is evident all over the house, from the huge granite boulder in the middle of the living room, to a rushing creek running under the home, which can be viewed through glass from inside.

She says after a particularly strong snowmelt, the raging water can drown out conversation, a reminder of nature’s true power over mere mortals.

Living room with boulder

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According to Granger, the crown jewel of the Phoenix House is the spectacular rooftop deck with panoramic lake views and serviced by a dumbwaiter from the kitchen below. There’s also a secret sauna accessible only by a hidden entry, which is opened by pulling on an adjacent shower’s soap dispenser. To which we say: That’s hot!

The home sits at the end of a small drive and is nearly invisible from the street, which adds to the home’s private, remote feel. The home’s unique design has been featured in magazines, including Tahoe Quarterly and Sunset Magazine, over the years.

Dining room

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The Phoenix House has changed hands several times since Harvey built it. One owner, Filbert Aguirre, was a young electrician who did work on the home during its construction. He later bought the home and oversaw a loving remodel of the original structure.

Aguirre still lives just off the back of the Phoenix House to this day, Granger says. The home’s current owner is ready to downsize and offering the option to negotiate for the furnishings on top of the asking price.

While Granger admits that if someone is looking for a standard Lake Tahoe house with a den and two-car garage, the Phoenix House might not be the right fit. But for a certain few who share Harvey’s taste and passion for nature, “this is the kind of house that once you see it, you can’t stop thinking about it,” she adds.

view of the lake

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The Kitchen Design Secrets of Top Restaurant Architects

Dorothy Hong for The Wall Street Journal

Architects Carol and Paul Bentel have been so busy creating restaurants for marquee chefs and restaurateurs that it took them 20 years to get around to remodeling their own kitchen.

“We finally got rid of our 1957 Hobart dishwasher—that thing was still working,” said Ms. Bentel, 60, whose midcentury modern home in Locust Valley, N.Y. was designed by Mr. Bentel’s parents, architects Frederick and Maria Bentel.

After a recently completed $80,000 DIY facelift, the Bentels’ kitchen and dining area are packed with some of the signature elements that won them several James Beard awards for outstanding restaurant design with their partner (and Paul’s brother), Peter Bentel.

Paul and Carol Bentel in their newly remodeled kitchen. ‘Even though we design restaurants, Paul and I cook every night,’ Ms. Bentel said.

Dorothy Hong for the Wall Street Journal

Brushed stainless steel cabinets juxtaposed against warm cherry wood walls recall the cherry wood-and-steel paneled dining room that Bentel & Bentel created for Le Bernardin, Eric Ripert’s New York restaurant. The Arne Jacobsen-designed Oxford chairs at the dining table are the same ones reserved for diners at the Modern, at New York’s Museum of Modern Art. And the bronze-and-steel wine rack is a diminutive version of the two-story wine wall at Craft—one of their many restaurants for Tom Colicchio.

For architects in the world of restaurant design, the home kitchen can be a four-star calling card: an opportunity to mesh their personal aesthetic with the insights gleaned from top chefs and hospitality gurus. Practical concerns like space, storage and scratchable surfaces are all part of the challenge.

Mr. Bentel, who acted as his own general contractor, estimated that his new kitchen would retail for around $150,000. A suite of new appliances includes a space-saving, under-counter microwave and a GE Monogram induction cooktop. “Most of the chefs we work with are raving about induction cooking because it’s extremely even heat, and quick,” he said.

Unlike a bulky range, the cooktop’s flat, silvery-gray surface blends into the background and harmonizes with the stainless steel cabinets, enhancing a sense of openness in the 150-square-foot kitchen.

The Bentels’ remodel preserved the layout of the circa-1957 kitchen, and some of its original features, like the suspended metal and glass cabinet.

Dorothy Hong for the Wall Street Journal

“Brushed stainless steel acquires the colors of the environment because it’s reflective—it makes the kitchen feel much bigger,” Mr. Bentel said.

The emphasis on materials is luxurious but practical. The leather-covered kitchen chairs are more durable than fabric, and easier to clean. And the quartzo bianco stone on the Bentels’ countertops and kitchen table has been battle-tested. A natural white stone with greater resistance to staining and abrasion than marble, it also tops their 90-foot-long BIG Bar at Chicago’s Hyatt Regency.

“Generally we would never suggest white stone for a bar, but this stone just could endure anything,” said Ms. Bentel. “We have a spot in our office where we will pour balsamic vinegar on it, put lemon or citrus fruit on it.”

Jeffrey Beers has created restaurants for celebrated chefs and Food Network stars—his current project is a “Hell’s Kitchen” restaurant-cum-amphitheater for Gordon Ramsay, set to open at Caesars Palace Las Vegas. But his own 250-square-foot kitchen on New York’s Upper East Side is more workhorse than show pony.

“I’ve taken pretty much everything I’ve ever learned from working with chefs and designing restaurants over the years—little things from Daniel Boulud to Jean-Georges Vongerichten—and tried to incorporate them as best I could,” said Mr. Beers, 61, who designed the kitchen in 2007 for about $70,000.

Jeffrey Beers said his New York kitchen, renovated in 2007 for about $70,000, includes ‘pretty much everything I’ve ever learned from working with chefs and designing restaurants over the years.’

Dorothy Hong for the Wall Street Journal

A polished black granite island forms the main leg of what Mr. Beers describes as a three-point working triangle—the other points being a Wolf range, a Sub-Zero refrigerator and a deep stainless steel Franke sink, all within easy reach.

“You don’t need to take more than a step and a half to get to the refrigerator; in a step and a half and you can be cooking something on your range,” Mr. Beers said. “All your prep is on the island—so you’re pivoting like a classic sous chef in your own kitchen.”

A spotlight positioned directly over the business end of the island provides extra illumination for chopping and prepping; low-voltage strip lights and incandescent fixtures bathe the rest of the kitchen in a softer light. “Lighting is a big thing for me. Chefs always say you want to look at the food in the same environment that the diner is viewing the plate,” Mr. Beers said.

His friend Bobby Flay gave him the idea for his beverage tower: a stacked set of appliances that includes a 60-bottle Sub-Zero wine refrigerator, a built-in Miele coffee maker and a combination microwave and convection oven. “That beverage tower is utilized quite a bit in the morning for coffee and heating up croissants,” Mr. Beers said.

The deep-red backsplash of tempered glass that wraps around the kitchen is his own custom design. (A glass blower, Mr. Beers has created chandeliers for many of his restaurants.) “Glass is a perfect opportunity to bring color and texture but it’s extremely clean and washable,” he said. “When you get rolling in the kitchen it can get pretty messy.”

Stephanie Goto’s kitchen has white laminated Bulthaup cabinets and Gaggenau appliances. The layout optimizes efficiency and easy access to tools and appliances. The island conceals stacked drawers.

Dorothy Hong for the Wall Street Journal

No shoes are allowed in the immaculate kitchen that the architect Stephanie Goto designed for her penthouse office on New York’s Union Square—not even when her friend Mr. Boulud is doing the cooking.

“It’s not too often that I cook with my socks on,” said Mr. Boulud—a Michelin starred chef with a small empire of restaurants—as he prepared a sea urchin chaud-froid with pickled jalapeno in black-stockinged feet at Ms. Goto’s stainless steel worktop.

“It’s really about the ritual of entering the space,” said Ms. Goto, who designed New York’s Aldea and Corton—as well as private kitchens for Cesare Casella and Mr. Boulud. Although she has a well-appointed kitchen at home, she envisioned the studio kitchen as a kind of idea lab for herself and her chef friends. “Architecture and cooking are quite similar—it’s about making things,” she said.

At first glance, it’s easy to miss the ultra-modern kitchen hiding in plain sight. White laminated Bulthaup cabinets conceal a fleet of Gaggenau appliances, including a dishwasher, refrigerator and 70-bottle wine fridge. There are no handles on the wall-mounted steam and convection ovens, which you press to open. The smooth induction cooktop is vented by a retractable downdraft that vanishes into the steel counter with the touch of a button. “We wanted it to disappear—it’s this magical box you can touch and activate,” Ms. Goto said.

Ms. Goto with Chef Eiji Ichimura and Chef Daniel Boulud. The Michelin-starred chefs prepared a multicourse dinner in Ms. Goto’s kitchen.

Dorothy Hong for the Wall Street Journal

The layout optimizes efficiency and easy access to tools and appliances. The island—a stainless steel Bulthaup monoblock—conceals stacked drawers which glide open with a nudge. “You can bump it with your knee,” she said. “Inevitably you have your hands full if you’re cooking or entertaining.”

She estimated the retail cost of her kitchen at about $156,000—a cost that includes the $10,900 commercial-grade Synesso espresso machine she has professionally tuned twice a week. “It’s the Steinway of the kitchen,” Ms. Goto said.

For a recent dinner at the studio, the Bulthaup monoblock was transformed into a sushi bar. Eiji Ichimura, a Michelin two-star sushi chef who currently presides over New York’s Uchu, composed plates of mackerel, tuna, fluke and cooked abalone sashimi with mizuna and borage flowers.

Just inches away, Mr. Boulud and Stephanie Moreno, a junior sous chef at his flagship restaurant, Daniel, shucked oysters and prepared tiny, souffle-like blinis on the induction cooktop, to be topped with caviar.

Ms. Goto conceded that she doesn’t actually cook all that much.

“My energy has gone more into the cooking of design and architecture,” she said. “In my ideal life I would be cooking all day and designing all night, but then I would not be sleeping.”

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Bethenny Frankel’s Slow-Selling Soho Stunner Hits the Rental Market

Rodin Eckenroth/FilmMagic

The Soho apartment Bethenny Frankel moved into after her acrimonious split from Jason Hoppy hit the market in February of this year. But with no bites on the property, the “Real Housewives” cast member has decided to rent out the apartment.

The apartment’s list price of $5.25 million had been reduced to $4,995,000 in May. So what does $13,500 a month get you?

The 2,392-square-foot, two-bedroom, 2.5-bathroom apartment on Mercer Street on a cobblestone block in Soho was recently remodeled. It’s also pet-friendly.

“It was a time when I needed to get some stability for [daughter] Bryn and myself, and I needed a home for us,” Frankel told People magazine when the apartment hit the market in February. “Our Soho apartment is an amazing place, but I’d like a bigger place now for both of us.”

The apartment features a sunken living room with a 14-foot ceiling with huge, arched windows and a fireplace. There’s also a balcony overlooking Broadway.

Living room

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The open Bulthaup kitchen with center island features imported marble countertops, plenty of storage, and appliances from Miele, Sub-Zero, and Wolf. The pantry has dual wine refrigerators.

Kitchen

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A home office area fashioned out of the long, main hallway features built-ins shelves and a desk.

Home office

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The master bedroom is designed for quiet and solitude. It includes a walk-in closet and marble bathroom so you can always step out looking camera-ready.

Master closet

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The second bedroom, obviously decorated with little Bryn in mind, has its own bathroom and floor-to-ceiling windows that open to the building’s atrium

Second bedroom

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The apartment’s boutique building has just 16 units and includes a rooftop terrace.

The slow sale of this apartment is a stark contrast to Frankel’s previous real estate experience. In October 2016 Frankel sold her Tribeca apartment for the full $6.95 million in just one day, according to Curbed. The apartment, which she bought with her ex, was a high-profile sticking point in Frankel’s acrimonious divorce.

“I have been doing really well in real estate, and I’ve got the bug,” Frankel told People. “When buying, I think, ‘Would I like to live here?’ and also, ‘Is it also a good investment?’ It’s a really unique place, not a cookie-cutter place, and I did a great renovation to make it even nicer—and more valuable.”

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How ABQ stacks up in latest national housing report

Realtor.com released its National Housing Forecast on Wednesday and it's looking fairly sunny for Albuquerque. The Duke City was among the top 100 largest U.S. metros ranked by 2018 projected sales and price growth. Albuquerque was No. 35 with 2.92 percent projected sales growth and 3.71 percent price growth. Albuquerque saw 1,108 closed transactions in October, up 19.8 percent from October 2016 and up 2.3 percent from September, according to the RE/MAX November Housing Report. The median sales…

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Central Florida among large metros expected to see a rise in home prices and sales

It looks like these Central Florida cities are about to get even hotter in the Sunshine State, as their home values and sales are expected to rise next year. Realtor.com's 2018 National Housing Forecast ranked the Deltona-Daytona Beach-Ormond Beach MSA as No. 3 and Orlando-Kissimmee-Sanford as No. 17 in its Top 100 Largest U.S. Metros Ranked by Forecasted 2018 Sales & Price Growth report. The Daytona Beach area is predicted to have a 5.47 growth in home sales and see home prices to up by 6 percent,…

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A Midwest Marvel: Stylish Shipping Container Home in Kansas City

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Shipping containers are popping up everywhere these days, but this container home in Kansas City, MO, is the first of its kind in the neighborhood.

The three-bedroom, three-bath home in the Brookside neighborhood comprises five shipping containers. It measures 2,600 square feet and is available for $799,000.

Designer Debbie Glassberg was inspired to create the home after attending the Canton Fair in Guangzhou, China. While there, she was struck by Chinese interest in sustainable design and viewed a shipping container manufacturing facility, and the concept clicked into place.

Back in Kansas City, she partnered with local architecture firm BNIM to create her own sustainable container home. The project now known as Home Contained has been featured in several design publications.

Front exterior

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Interior space

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The containers were fused to create an open floor plan, including three bedrooms, an office, TV room, and kitchen.

The kitchen is adjacent to the dining room, which flows into the living room. Turquoise and white accents complement the sleek wood floors. Glassberg’s artistic touch is evident in accents such as the branch-patterned wallpaper, textured metal walls and ceilings, and the bright pink TV room.

“There is nothing else like it anywhere,” says listing agent Courtney Kraus. “I love that it is industrial-looking and beautiful, comfortable and filled with natural light. And I love that it is in Brookside, where we have a charming sense of community.”

Living space

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Red room

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The home’s geothermal heating and cooling, double-pane windows, LED lights, and even low-flow toilets emphasize sustainability. Pear and cherry trees grow alongside lettuces and other edible plants in the yard. There’s an attached patio and a rooftop garden.

Though this is the sole large shipping container home in the city, it will soon have company. Glassberg is working on bringing more of the homes to the neighborhood, which is near the Jazz District.

This Midwest marvel’s next owner is ideally “somebody who appreciates the container home concept,” says Kraus. “Somebody who loves art, someone who likes to leave very little footprint on the Earth.”

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Adam Levine Selling 2 SoCal Mansions Worth a Combined $35M

Brian Bowen Smith/NBC/NBCU Photo Bank via Getty Images

Adam Levine is unloading two Los Angeles–area mansions with a combined price tag of $35 million. And while celebrity real estate moves aren’t anything new, it’s notable to see a star selling not one, but two homes at the same time. And in an intriguing twist, the Maroon 5 frontman purchased one of the homes only a few months ago.

The first home up for sale was Levine’s bachelor pad prior to his marriage with model Behati Prinsloo in July 2014. So it’s no shock Prinsloo isn’t interested in living there. Levine tried to sell the Beverly Hills home for $17.5 million last year, but now it’s priced to move at $15.9 million.

Located in Benedict Canyon, the mansion screams “man cave” with a full basketball court, a killer pool party area, and blue velvet media room. Equipped with a pool table? But, of course.

The house is beautiful, but with all of its hard edges and glass, it’s not exactly kid-friendly for the growing Levine family. The 7,000-square-foot home on a 3.68-acre lot has five bedrooms and seven bathrooms.

Adam Levine’s Beverly Hills bachelor pad

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The second property up for sale is a Holmby Hills house Levine purchased a few months ago. However, it just might turn a tidy profit for “The Voice” coach.

The house is listed for $18.9 million, about a million more than he paid for the home in August. This 9,000-square-foot stunner on a 1.27-acre lot is a bit more refined than the Beverly Hills bachelor pad and is more family-friendly. It has five bedrooms, 5.5 baths, and golf course views.

Levine bought this Holmby Hills house in August.

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Kurt Rappaport, the listing agent for both homes, declined to comment on why the rocker is selling so much real estate at once.

According to TMZ, the new home needs a lot of work and the couple aren’t interested in a remodel on top of a second baby on the way. In September, Prinsloo announced the couple are expecting a sibling for daughter Dusty, who was born in September 2016.

The post Adam Levine Selling 2 SoCal Mansions Worth a Combined $35M appeared first on Real Estate News & Insights | realtor.com®.

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Meghan Markle’s New Home a Dump?! 5 Huge Flaws in Nottingham Cottage

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Meghan Markle and Prince Harry‘s impending marriage has the world buzzing about their future plans, including where they’ll live after tying the knot: Nottingham Cottage, a property on the grounds of Kensington Palace. Reports abound that the royal couple have already spent some time at “Nott Cott”—even that the prince proposed in the kitchen while they were roasting a chicken. Sooo cuuuute!

But make no mistake, Nottingham Cottage isn’t as posh as you might think.

While details and interior pics of this place remain tightly under royal wrap, there are rumblings that the royal couple’s first home together has more than its share of problems. Here are a few flaws that have surfaced.

1. The cottage is tiny

While Nott Cott’s exact square footage isn’t public knowledge, The Telegraph reports that this “cozy” cottage has two bedrooms and two reception rooms. Cozy, indeed—anyone in real estate knows “cozy” is code for “so small you’ll want to cry.”

2. There’s only one bathroom

In addition to those two bedrooms, the Telegraph says the place has a bathroom. A bathroom? As in one? So the prince and his-bride to-be will have to share the loo? That seems downright unroyal.

3. Ceilings are low

The claustrophobia just got worse: no soaring ceiling here. In fact, the previous tenant, Prince William, had to stoop to avoid banging his head. He is 6-foot-3. So, that means the ceilings (or door frames, or something) are only, what, 6 feet high? That’s sad.

4. There’s no air conditioning

Come on now! Even developing countries have caught onto this modern convenience known as AC. But Nott Cott, not yet. And fine, London may not be quite as sweltering as, say, Markle’s hometown of Los Angeles, but according to Vanity Fair, Prince William’s wife, Kate Middleton, found Nottingham Cottage so stiflingly hot, they had fans installed in every room to compensate … somewhat.

5. The yard is also tiny

It turns out Markle’s two rescue dogs—Guy the beagle and Bogart the Labrador, who are undoubtedly coming with her—won’t have much room to roam, either. The yard is so small, it was marked by royal watchers as one of Middleton’s biggest disappointments about the place. The only upgrade we’ve heard of is that soon after moving in, Prince Harry hung up a hammock.

Maybe that’s all there’s room to do.

Nottingham Cottage location

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All we can say is, Markle has her work cut out for her to make the most of her new “royal” digs. This explains why reports also bound that the future newlyweds likely won’t stay in this royal “starter home” long, and will move to one of the bigger apartments at Kensington Palace soon enough.

Still, it begs the question: Is this stint at Nottingham Cottage some weird form of royal hazing? That is, “Before we let you into Kensington Palace proper, you’ve gotta sweat it out at Nott Cott, HAHAHAHA!”

All that said, though, the place has also been dubbed a “love nest” where this couple began their life together—sweating, stooping, and sharing the loo. Who knows? Maybe they will one day look back on Nott Cott as the place where they shared some of their happiest times together—even without AC.

The post Meghan Markle’s New Home a Dump?! 5 Huge Flaws in Nottingham Cottage appeared first on Real Estate News & Insights | realtor.com®.

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New Mortgages Allow Renters to Buy With Tiny Down Payments

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The down payment has been a big obstacle in recent years for renters looking to buy their first homes.

A new mortgage offering aims to ease the burden.

Home Partners of America, a rent-to-own company, is offering a new mortgage product to tenants that applies some of the appreciation in their home’s value during the time they have lived there toward reducing the down payment. In areas with even modest home-price appreciation, that could reduce the down payment requirement to almost nothing.

To qualify, tenants must have paid their rent on time for two consecutive years and be considered first-time buyers, meaning they haven’t owned a home in the last three years.

The program harkens back to the housing bubble, when millions of Americans received mortgages for homes they couldn’t afford with little or no down payment.

Bill Young, co-founder and chief executive of Home Partners, said a critical distinction with his company’s program is that prospective buyers have been paying their monthly rent on the same home over a long period, demonstrating they can afford it and are committed to staying there.

“Their skin in the game is they’ve proven they can pay their rent on time for 24 months,” Mr. Young said.

Home Partners, which was started about five years ago and has purchased nearly 8,000 homes in more than 50 metropolitan areas, plans to offer the product to current tenants and those who sign a lease over the next two years, the duration of the pilot program. The company won’t make the loans itself, but is working with New Penn Financial, a Pennsylvania-based lender.

The loans will be backed by mortgage company Fannie Mae, which recently has been experimenting with programs designed to ease credit for young buyers who are missing out on a recent surge in home prices because they haven’t saved enough for a down payment. Other pilots include a program under which Lennar Corp. will pay off a significant chunk of the student loan of a borrower who purchases a home from the Miami home builder. In another, buyers can receive up to $50,000 for a down payment if they agree to rent a room in their home on Airbnb.

Rent-to-own companies have a poor reputation in the housing industry for taking nonrefundable deposits from tenants who clearly won’t ever be able to qualify for a mortgage or afford a home. Home Partners doesn’t take a nonrefundable deposit, so if the home’s value declines or they decide not to buy for any other reason renters can simply walk away.

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Nashville expected to be a top 10 housing market in 2018

Don’t expect the Nashville area’s housing market to cool off much in 2018 — the National Association of Realtors' 2018 National Housing Forecast expects the area to be among the country’s top 10 housing markets next year. Based on expected gains in prices and number of sales, the Nashville MSA ranks No. 9 in the association’s forecast, which is topped by Las Vegas. Through the first 10 months of 2017, there have been 34,059 closings in the Nashville area, an increase of 4.2 percent compared…

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At Only $72K, This Barbershop Won’t Require a Budget

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In a former North Carolina mining village, you could get a shave and a haircut for two bits—or, now, a barbershop-turned-tiny house for $72,000.

Known simply as “The Barbershop,” the 345-square-foot home in Burlington has only one bedroom and one bathroom, but oodles of history.

While you won’t find any remnants of its past as a place for a stylish trim, the small space is divided into three main areas. A great room contains the sleeping, living, and dining areas; it leads into the kitchen and a compact bathroom.

The design even allows a stacked washer and dryer. There’s a small porch and, of course, a classic barber pole next to the front door. Cherry-red accents highlight the light-blue color scheme of the home, which has hardwood flooring.

For anything that can’t quite fit inside the small home, a storage shed is available out back. The shed was modeled after the outhouse that used to be there, so it matches the historic design.

“It blends right in. You would never know it was a storage shed; it’s really cute,” says listing agent Lisa Janes.

The small home still has a barber pole out front.

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Porch

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The property is located in the Glencoe Mill Village, which was constructed in the 1800s. When the mill was in operation, the employees lived in small houses in a village of about 50 homes. The mill ran until the 1950s, and in the late ’90s the organization Preservation North Carolina started working with individual owners and people to buy and fix up the old homes.

Kitchen

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Bedroom

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“They are just gorgeous,” says Janes. “Every single one in there is a little bit different.”

The barbershop was renovated in the early 2000s. The owners at the time lived in it while their main home was undergoing updates. They then used it as a rental property until it was purchased by its current owner, who was drawn in by the nearby river but is now relocating.

Glencoe Mill Village is also home to the Textile Heritage Museum and features artist spaces and markers for self-guided walking tours of the village. The nearby river is perfect for paddling. Protective covenants put in place by Preservation North Carolina ensure the village retains its historic character.

The home is now under contract.

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