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Manhattan triplex fetches $60M in biggest co-op sale since 2015

Manhattan triplex fetches $60M in biggest co-op sale since 2015

Home near Central Park received $20 million more than asking price.

Talk about mispricing. An Upper East Side triplex sold last week for $60 million, the most expensive Manhattan co-op sale since 2015 and a whopping $20 million more than the asking price, as five billionaires slugged it out for bragging rights to the 7,000-square-foot penthouse.

Jacqui Safra, a banking scion who has produced Woody Allen films, sold the home in a private, all-cash deal, according to Mansion Global. The buyer of the penthouse, at 2 East 88th Street, hasn’t been identified.

The 12-room unit spans the 14th, 15th and 16th floors and includes a two-level wraparound terrace, a staff wing, a gym and two floors for entertainment.

It was shown for just a single day back in May. A contract was signed within 24 hours. Nikki Field of Sotheby’s, who represented the seller, said she showed it to seven billionaires and received five offers.

Safra lived there for 30 years with his significant other, producer Jean Doumanian. The 81-year-old decided to sell because they weren’t often at the home. Safra told Field he hadn’t even been to the third floor in several years, according to the publication.

Actress Bette Midler sold her own triplex penthouse in the same Carnegie Hill neighborhood just a few months ago. Her initial asking price was $50 million and it ultimately sold for $45 million.

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Eight Cumberland

THIS IS YORKVILLE

LUXURY TORONTO CONDOSWelcome to 8 Cumberland. Luxury highrise condo living in the heart of Toronto’s most sought after location. New condominiums at Cumberland and Yonge.

THIS IS HOME

A modern 51-storey building steps from Toronto’s exclusive shops and culinary delights. An internationally recognized setting that indulges your every whim. Welcome to 8 Cumberland, an address that sits perfectly within the Yorkville community. Great Gulf and Phantom Developments are so excited to introduce you to 8 Cumberland.

THIS IS SLEEK

8 Cumberland marks its presence with a century-old brick Victorian podium, paying homage to Yorkville’s timeless heritage. While rising above, ribbons of gleaming steel and luminous glass create a stunning façade.

THIS IS YOURS

Spacious open-concept suites offer panoramic city views. A chef-inspired kitchen perfectly paired with modern cabinetry, quartz countertops, and stainless appliances, is made for entertaining. Bring to life a gourmet meal, then steal a moment on your private balcony.

THIS IS SOCIAL

Escape to the fourth floor. Relax with your favourite drink, host a private party, or dine al fresco under the stars. The outdoor terrace features a barbeque lounge, outdoor yoga area, and pet park with spa access.

THIS IS LIVING

Fine art, fine dining. Shopping. Socializing. Entertainment. It is all part of Yorkville’s DNA. Drinks at dbar and dinner at Buca. Sun-soaked brunch at One. Enjoy endless options only steps away from the comforts of home.

Building a
brighter future.

For over 40 years customers have been looking to Great Gulf to make their dreams of living better a reality. And year after year, we’ve delivered.

We’ve built our reputation by continually seeking to marry design innovation, construction technology and craftsmanship in new and exciting ways – to create homes that are quieter, brighter, healthier, more energy-efficient and quite simply, better built. Exceptional quality and value for today. Peace of mind for the years ahead. That’s the Great Gulf difference.

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SLATE CONDOMINIUMS IN BURNABY, VANCOUVER

SLATE’s 1, 2, and 3-bedroom condos and concrete townhomes are coming soon to #Brentwood, Burnaby. Designed by award-winning @dysarchitecture & Rafii Architects, SLATE’s timeless façade welcomes you home to the next era of this thriving community.

SLATE’s presence will be unmissable in the Brentwood skyline, cladded in sleek metal panels dramatically punctuated by two-storey white frames, along with lush greenery and culminating in an eye-catching stepped summit.

e know each and every home is special – a place for personal growth where memories are made, not to mention one of the largest investments one will make. We pride ourselves with planning, designing and building residential and mixed use communities with quality, integrity and honesty that stand the test of time.

Recognized by the Urban Development Institute as an award-winning community builder, Beedie Living has earned the trust of homeowners and grown their reputation through a 65-year legacy of building thriving communities. Everything we build, from curated public spaces to thoughtfully designed interior features, is built to positively influence the well-being of people, commerce and communities. Built for today. Built for tomorrow. Built for good.

#SLATECONDOMINIUMS IN #BURNABY #VANCOUVERCONDOMINIUMS

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The Weeknd’s LA penthouse.

1200 Club View Dr, Los Angeles, CA 90024

The Weeknd buys a penthouse in Westwood’s Beverly West for $21 million.

After recently selling his luxurious Hidden Hills mansion to Madonna, Grammy Award-winning singer and record producer The Weeknd now resides in a jaw-dropping penthouse in the glittering heart of Los Angeles. The star splashed out $21 million on the purchase, making the condo one of the priciest ever sold in LA.

Abel Tesfaye, the singer-songwriter better known as The Weeknd, has bought one of the remaining penthouses at the Beverly West, a boutique condominium tower in Westwood, in one of the highest condo sales ever recorded in the Los Angeles area.

The “Can’t Feel My Face” and “The Hills” singer paid $21 million — or about $2,555 a square foot — for the residence, which occupies the entire 18th floor. Select designer-curated furnishings were negotiated separately, according to real estate sources familiar with the deal.

The sale ties real estate developer Richard Lewis’ June purchase of another Beverly West penthouse for the most expensive condo sale in L.A. County this year, records show. The two sales are the most paid for a condo in the Los Angeles area since 2010, when Candy Spelling purchased a two-floor penthouse at the Century building in Century City for about $35 million.

No expense has been spared in the penthouse’s state-of-the-art bathrooms either. Clad in swaths of marble, this scheme is the ultimate indulgent spa, complete with a storage island and a freestanding bathtub. We can’t imagine a more perfect spot to soak up those dreamy vistas…

Bigger than your average mansion, the expansive pad in LA’s exclusive Beverly West building spans an astonishing 8,200 square feet and was designed to make the most of the LA landscape. Offering panoramic views across the city’s glistening skyline, the contemporary home is light and pared-down, with minimalist finishes and a clean color palette – a theme in each of the singer’s homes. 

From its 11-foot ceilings to its walnut accents, natural stone floors and wall-to-wall glass, the luxurious penthouse is as breathtaking as it is expensive. Covering the entirety of the 18th floor, the house offers four bedrooms, an open-plan great room, a chic chef’s kitchen and two balconies overlooking Los Angeles.

As a full-time resident of the building, The Weeknd also has access to 24/7 security, which was no doubt a draw for the property. Yet such opulence doesn’t come cheap and residential charges reportedly mount up to $6,800 per month, a drop in the ocean for the superstar. 

However, it’s a small price to pay for living in the lap of luxury. Complete with gray herringbone wood flooring and a wood-effect feature wall, this stylish bedroom suite wows with a glass-lined bay window that looks out over picturesque green landscapes.

No expense has been spared in the penthouse’s state-of-the-art bathrooms either. Clad in swaths of marble, this scheme is the ultimate indulgent spa, complete with a storage island and a freestanding bathtub. We can’t imagine a more perfect spot to soak up those dreamy vistas…

While Beverly West has no end of plush amenities, the penthouse itself features a private home gym so the star can work out in perfect privacy. There’s even a flat-screen TV to keep him motivated! But life wasn’t always this lavish for the acclaimed musician.

With a net worth of around $100 million, it’s no wonder The Weeknd has plenty of cash to spend on real estate. Over the years the ‘Starboy’ singer has lived in some pretty perfect properties, including a 5,000-square-foot apartment in Manhattan. However, the star’s roots are far more modest. Born Abel Tesfaye in Toronto, Canada, the 31-year-old musician has come a long way since he began his career on YouTube in 2010.

Hilton & Hyland’s Bill Simpson, who is an exclusive listing agent for the Beverly West, said people are starting to recognize and appreciate the perks, privacy and location afforded by high-rise living.

And it’s not just older homebuyers who are buying into the lifestyle.

“When you have a buyer like [Tesfaye], it speaks to the market,” Simpson said. “The younger generation is getting hip to vertical living.”

Tesfaye’s penthouse was one of four that hit the market in August and carried a price tag north of $23 million. Occupying the top floors of the 22-story high-rise, each penthouse was designed to fit a certain personality and features a unique design with curated materials and distinct color palettes.

The penthouse Tesfaye purchased is called the “Mogul” and boasts a dark, masculine palette of deep navy blue complemented by walnut wood paneling. The 8,215-square-foot residence also has a designer kitchen, imported wide-plank oak floors, high-end fixtures and direct elevator access. Walls of floor-to-ceiling windows frame sweeping views in nearly every direction.

“This penthouse was designed for a mogul, and it’s a mogul who is buying it,” said building project manager Eric Jencks.

Jencks said Tesfaye fits a similar profile to others who have bought in the building: individuals who don’t want to be in a homogeneous living space, but also don’t want to lose the privacy offered by an estate or single-family home.

“The Beverly West has no common areas besides the amenities floor,” he said. “Every owner goes up on their short elevator ride to their own airspace.”

The Beverly West building, developed by United Arab Emirates real estate company Emaar Properties, has 35 units and features a 24-hour concierge, a gym and a saltwater swimming pool. On the rooftop is a helipad.

Jeff Hyland and Susan Pekich of Hilton & Hyland shared the listing with Simpson. Angel Salvador of The Agency represented Tesfaye in the sale.

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Condominium Buying Guide. (Canada)

This Guide will give you the basic background information you need to figure out if condominium ownership is really for you. It will identify key questions to ask — and the people you should be asking — before you make this important purchase.

So You’re Thinking About Buying a Condominium?

Condominium living is a popular choice for many Canadians as it can be a relatively carefree housing option. About one million Canadian households own a condominium (often referred to as a “condo”). Most major newspapers now include a condominium section, which recognizes the increasing number of people who already live in — or want to live in — a condominium.

This Guide will give you the basic background information you need to figure out if condominium ownership is really for you. It will identify key questions to ask — and the people you should be asking — before you make this important purchase.

Condominium basics

Understanding condominium ownership, lifestyle and successful condominium living.

Condominium living can be an appealing housing option. It’s often affordable and someone else handles much of the maintenance and repairs, such as shovelling snow and replacing the roof. Many condominiums have enhanced security features over those found in single-family houses and offer a wide range of social, entertainment and recreational activities.

However, purchasers should be aware — before they buy — of the many issues and considerations surrounding the purchase of, and the lifestyle in, a condominium. Condominium ownership is very different from owning a home under traditional fee simple tenure. This section of the Guide will help you better understand this unique form of ownership and prepare you for successful condominium living.

What is condominium?

A “condominium” refers to a form of legal ownership, as opposed to a style of construction. Condominiums are most often thought of as units in high-rise residential buildings, but they can instead be:

  • low-rise residential buildings (fewer than four storeys);
  • townhouse or rowhouse complexes;
  • stacked townhouses;
  • duplexes (one unit over another) or a side-by-side;
  • triplexes (stack of three units);
  • single-detached houses; or
  • vacant land upon which owners may build.

There are even mixed-use condominiums that are partly residential and partly commercial buildings. Condominiums come in various sizes with diverse features and can be found in almost every price range.

Condominium buyers have three choices. They can buy a new condo, a resale condo or a conversion condo.

“New condominiums” refer to units that have not been previously occupied. They can be in the planning stage, under construction or recently completed and are usually purchased from a developer. For many buyers, they’re an attractive option because of their fresh appearance and modern fittings, surfaces and appliances. They also often give purchasers the chance to customize their units.

“Resale condominiums” are units that have already been occupied, typically in older buildings, and are for sale by the current owner. One of the advantages of purchasing an existing condominium is that you get to see the unit, building and grounds before you make your purchase. You also have the opportunity to meet other unit owners, speak with a representative of the board of directors of the condominium corporation and ask questions of the property manager.

“Conversion condominiums” refer to units in a building that was previously used for something else but has been, or is to be, renovated for residential use. For example, many loft-style condominiums are converted from former commercial or industrial buildings. Conversions can also refer to the switching of units from rental units to condominium units.

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