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Property Lifestyles | Global Affluence: The Emerging Luxury Consumer

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This week, we continue exploring the findings unveiled in the “Global Affluence: The Emerging Luxury Consumer” report.  When it comes to purchasing a home, emerging luxury consumers are particularly interested in pursuing certain property lifestyles including waterfront, metropolitan and historic.  Discover trending locations for these popular property lifestyles, based on data compiled from sothebysrealty.com.

Waterfront

The waterfront location with the highest year-over-year increase in search is New Hampshire.

New Hampshire

$2,649,000 USD | Moultonborough, New Hampshire | Four Seasons Sotheby’s International Realty

Waterfront properties available in New Hampshire include this custom-built estate on Lake Winnipesaukee.  The home includes 7,500 square-feet of living space, a 1,000-square-foot carriage house ideal for guests, 200 feet of shoreline and a deep-water U-shaped docking system.

Europe has also seen an increase in searches for the waterfront lifestyle, with three trending locations being the United Kingdom, Italy, and Germany.

Waterfront lifestyle destinations that have maintained a trending position year-over-year include Turks & Caicos, Australia, and Malibu, California.

Metropolitan

The metropolitan location with the highest year-over-year increase in search is Denver, Colorado.

Denver

$2,299,000 USD | Denver, Colorado | LIV Sotheby’s International Realty

Metropolitan properties available in Denver include this townhouse in the exclusive Riverfront Brownstones development.  Located in Downtown Denver, the residence spans over 4,000 square-feet and features floor-to-ceiling windows, master suite with a private balcony, plenty of outdoor living space and an attached three-car garage.

Additional trending metropolitan locations around the world include Boston, Massachusetts; Tokyo, Japan; Portland, Oregon; and Vancouver, British Columbia, Canada.

New York City is consistently one of the most popular metropolitan searches with trending neighborhoods including SoHo and the Upper East Side.

Historic

 The location for historic homes with the highest year-over-year increase in search is the Hudson Valley region of New York State.

Hudson Valley

$1,775,000 USD | Grandview, New York | Ellis Sotheby’s International Realty

Historic homes available in the Hudson Valley region of New York include this 19th-century cobblestone, craftsman-style estate.  Known as “Willow Knoll,” the home was built in 1891 by Joseph Ellicott, the inventor of the air brake and first commodore of the Tappan Zee Yacht Club.

Additional trending historic home locations around the world include New Orleans, Louisiana; Venice, Italy; India; Atlanta, Georgia; and Portugal.

For more information on the confidence of emerging luxury consumers, download the complete “Global Affluence: The Emerging Luxury Consumer” report by clicking here.

Six Homes by Famous Architects

Ours is the Age of the Starchitect. Elite practitioners have achieved bold-face status, and owning a piece of their work comes with a hefty price tag. According to Inger Stringfellow of William Pitt Sotheby’s International Realty in New Caanan, Connecticut, homes by top- tier architects can command a premium of as much as 50 per cent over comparables. One example is the $12 million Philip Johnson-designed Wiley House in New Canaan. A glass pavilion perched on a stone podium, it is a cousin to Johnson’s celebrated Glass House, which is on the National Register of Historic Places and is located just across town. “Homes like this have their own aura,” Stringfellow says. “It’s a privilege to be in them.”

While high-net-worth individuals have long sought famous architects, many home buyers today show a genuine “interest in design and how it affects where and how they live,” says Christopher Mercier, a founder of (fer) studio in Inglewood, California. A member of Frank Gehry’s team during the conception of the Guggenheim Museum Bilbao in Spain, Mercier sees this fresh passion for design as a welcome evolution. It makes for the best kind of client – an involved one. “You want the individual’s lifestyle to be reflected in that project,” he adds. “Otherwise you’re just making a spec house.” And as savvy clients know, the right house by the right architect may be the most precious possession of all.

New York-based writer Iyna Bort Caruso has contributed to The New York Times, The Wall Street Journal and others.

Palm Beach
Florida

Ideally located on the north end of Palm Beach, this Peter Marino-designed estate offers all the luxuries of island living. From the existing 1937 home, Marino devised a tropical retreat whose Indonesian-contemporary interior showcases spectacular ocean views.

$32,000,000  Property ID: 0076920
Sotheby’s International Realty – Palm Beach Brokerage
Cristina Condon +1 561 301 2211

Kentfield
California

Joseph Esherick and world-renowned landscape architect Lawrence Halprin collaborated to integrate indoors and outdoors seamlessly at this iconic California residence. In grand-scale rooms with twelve-foot ceilings, glass walls bring the outside in, while the kitchen and great room open  to Zen-like exterior entertaining areas.

$4,995,000  Property ID: D9TFY4
Golden Gate Sotheby’s International Realty
Stephanie Lamarre +1 415 806 3176

Westerly
Rhode Island

One of the few Charles Moore-designed homes on the East Coast of the US, Sun Up offers serene living without sacrificing the sophistication expected from a famous architect. Renowned for the remarkable spirit of his designs, Moore created different levels, cathedral ceilings and octagonal wall shapes. The entire space feels open while also offering areas of seclusion. As Moore once noted, “Good places matter.” This is one of them.

$1,775,000  Property ID: EV33SJ
Mott & Chace Sotheby’s International Realty
Jim Buffum +1 401 741 2836  Desa Buffum +1 401 741 2809

Pol De Mar, Barcelona
Spain

Built by renowned architect Ignasi Mas i Morell, this home is an exquisite example of classic Catalan architecture. High ceilings and commanding arches ensure wonderful spaciousness, and a combination of ornate and earthy textures creates a warm ambience.

€2,000,000  Property ID: LCENVX
Barcelona & Costa Brava Sotheby’s International Realty
+1 34 93 467 58 10

New Canaan
Connecticut

A star among the city’s legacy of mid-century Modernism, the Wiley House, designed by Philip Johnson in the early 1950s, was restored by Roger Ferris + Partners. The double-height glass pavilion – with a living room and subtly hidden but generous galley kitchen – cantilevers out over the fieldstone base. The slope of the land offers lower-level rooms full views of the property. A new pool house and reconstructed barn-art gallery are set around their own separate courtyard.

$12,000,000  Property ID: S24GC9
Sotheby’s International Realty
John Hersam +1 203 417 5198 Inger Stringfellow +1 203 321 9361

And below –

Telluride
Colorado

Designed by world-renowned John Pawson, this remarkable Telluride residence offers truly inspired minimalism in a most alpine setting. The collaboration between seller & architect was his first commission in the U.S. and timelessly showcases Pawson’s attentive focus on space, proportion, light and materials.

$5,995,000  Property ID: PMDY5H

Telluride Sotheby’s International Realty
Bill Fandel +1 970 708 4141

Sotheby’s International Realty Brand Expands Luxury Presence into Austria

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€ 10.090.500 EUR | Vienna, Austria | Austria Sotheby’s International Realty

Sotheby’s International Realty Affiliates LLC today announced it has signed a 25-year franchise agreement with Laguna F&Z Immobilien GmbH. to further expand the Sotheby’s International Realty® brand in Europe with the opening of Austria Sotheby’s International Realty.

Austria Sotheby’s International Realty, led by owner Wilhelm Zirngast and Chief Executive Officer Georges Luks, will serve the luxury residential real estate market throughout the country from the flagship office located in Vienna. The firm has future plans for additional offices in the cities of Graz and Kitzbühel.

“Austria is an attractive market for luxury homebuyers in Central Europe,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “For those who appreciate architecture, the capital city of Vienna is graced with an inspiring baroque style, while the landscape throughout the rest of the country varies from elegant city living, to country estates and vineyards, to mountain ski chalets, offering something for everyone. I am proud to welcome Austria Sotheby’s International Realty to our global network.”

“We have an exceptional team of sales professionals who are dedicated to delivering the best service to our clients,” said Luks. “Our approach is built on respect, proven marketing methods and a client-based approach. We are delighted to affiliate with the Sotheby’s International Realty brand in Austria and we endeavor to surpass even the most exacting demands by providing added value and service in a friendly, transparent, informative, proactive and accommodating manner.”

The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 880 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD.  Austria 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 Realtymarketing programs. Each office is independently owned and operated.

Consumer Confidence | Global Affluence: The Emerging Luxury Consumer

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Last week we introduced “Global Affluence: The Emerging Luxury Consumer,” a report examining the confidence, spending habits and purchasing interests of emerging luxury consumers from around the world.  Today, we take a deeper dive into the confidence of the emerging luxury consumer; the report found that those with $250,000 USD to $1 million USD in investable assets are have an overall level of confidence.

Emerging luxury consumers around the world are confident in the economy.  Most feel that their respective national economies are strong and headed in the right direction.  In addition, this demographic is extremely confident in their own personal economic situations and feel that they can afford all the things they want, including a home.

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Emerging luxury consumers have also expressed confidence in their respective housing markets.  While many have plans to purchase a luxury home in the next year, there is a significant jump of those looking to purchase a luxury home in the next three years, ranging from 76% of emerging luxury consumers in the United Kingdom to 95% of emerging luxury consumers in India.

Key motivators behind the emerging luxury consumer’s home purchasing decision vary from country to country and include the state of the housing market, being at the right stage in life and looking for a home to fit a particular lifestyle.

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For more information on the confidence of emerging luxury consumers, download the complete “Global Affluence: The Emerging Luxury Consumer” report by clicking here.

Global Affluence: The Emerging Luxury Consumer

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Sotheby’s International Realty Affiliates LLC is proud to present “Global Affluence: The Emerging Luxury Consumer,” a report examining the confidence, spending habits and purchasing interests of emerging luxury consumers from around the world, defined as those with $250,000 USD to $1 million USD in investable assets.

The report, which is based on a survey that focused on luxury consumers in the United States, United Kingdom, India, United Arab Emirates and China, found that this emerging luxury consumer demographic is confident when it comes to their personal economy and the economy of their respective countries.

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“The luxury residential real estate market is ever evolving,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC.  “As a global leader in this arena, the Sotheby’s International Realty® brand commissioned this research survey to unveil emerging trends with luxury residential real estate consumers around the world.  We are always looking to the future and our focus is to keep a pulse on the state of the real estate market and the homebuyers of tomorrow.”

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The complete Sotheby’s International Realty “Global Affluence: The Emerging Luxury Consumer” report features a breakdown of data by country surveyed as well as supplemental search data from sothebysrealty.comClick here to download the full report.

Key findings from the Sotheby’s International Realty “Global Affluence: The Emerging Luxury Consumer” report include:

“The luxury market has been redefined in recent years due in large part to the impact of the new emerging luxury consumer,” said Kevin Thompson, chief marketing officer of Sotheby’s International Realty Affiliates LLC.  “These individuals have a luxury sensibility and an affinity for exclusive brands, proving that luxury transcends income levels – it is about quality, uniqueness, and ultimately achieving a certain lifestyle.  The Sotheby’s International Realty brand has its eye on the future and is perfectly positioned to unite these extraordinary lives with extraordinary lifestyles.”

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The Sotheby’s International Realty network currently has more than 20,000 affiliated independent sales associates located in approximately 850 offices in 66 countries and territories worldwide.  In 2016, the brand achieved a record global sales volume of $95 billion USD.  Sotheby’s International Realty listings are 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.

Methodological Notes:
The Sotheby’s International Realty Affiliates LLC Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 200 US emerging luxury consumers, and 100 emerging luxury consumers in the UK, China, UAE and India, between November 17th and December 15th, 2016, using an email invitation and an online survey.
The margin of error for this study is +/- 6.9 percentage points in the US, and +/- 9.8 percentage points in the UK, China, UAE and India at the 95% confidence level. Base sizes under 100 are directional findings only.
Data from sothebysrealty.com: Google Website Analytics, sothebysrealty.com, April – December 2015 vs. April – December 2016.

Paradise | Katharine Hepburn’s Former Waterfront Estate

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One of Hollywood’s legendary actresses and star of countless, classic films from the Golden Age of cinema, Katherine Hepburn’s name is a household one. A native “Connecticocian,” Hepburn had this bright, inviting waterfront estate built on Long Island Sound in 1939 and called it, “Paradise.”

If you obey all the rules, you miss all the fun.
-Katharine Hepburn

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Made available once again earlier this year for $11,800,000 with William Pitt Sotheby’s International Realty, the Fenwick estate was seamlessly renovated in 2005, creating light-filled rooms while preserving the historical integrity of all 8,400 square-feet of living space over three floors.

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Set on one-and-one-half acres overlooking the sound, this home features 220 feet of frontage with its own private dock. Inside, this one-of-a-kind home features a gourmet kitchen, restored fireplaces, coffered ceilings, six bedroom suites and a screened-in blue stone porch – perfect for dining al fresco.

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Outside more than three additional acres were designated by Hepburn to remain open and untouched; this conservation parcel is owned and maintained by Lynde Point Land Trust, forever assuring privacy and unobstructed views.

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Throughout the 1930s and 1940s, Howard Hughes landed his seaplane directly in front of the home, and today, the same opportunity awaits.

Learn more about Katharine Hepburn’s “Paradise” in Connecticut

The Great Outdoors | National Park Neighbors

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There is a delight in the hardy life of the open. There are no words that can tell the hidden spirit of the wilderness that can reveal its mystery, its melancholy and its charm.
~ Teddy Roosevelt, President of the United States

From coast to coast, the United States is home to 58 national parks; preserved and protected, these sacred lands showcase the varied natural beauty available throughout the country. Our last installment of the Great Outdoors takes us to homes in four of these treasured places; from east to west let’s visit Acadia, Shenandoah, Grand Teton, and Pinnacles National Park in search for nature’s finest.

Maine

$1,200,000 USD | Bar Harbor, Maine | The Swan Agency Sotheby’s International Realty

Completely renovated in 2014, Bogue Chitto was the site of The Swan Agency Sotheby’s International Realty and Maine Home + Design Magazine’s 2014 Designer Showhouse. The remaining shorefront and interior lots are being developed with new homes. All residents of Bogue Chitto enjoy rights to the dock and oceanfront deck area. Located directly across the road from the entrance to Acadia National Park, the location of Bogue Chitto is ideally situated for access to all of the areas most coveted spots.

Virginia

$1,699,000 USD | Huntly, Virginia | Hunt Country Sotheby’s International Realty

Holland Hill harmonizes one’s living environment with nature. Expansive views as far as the eye can see are enjoyed from all directions. This 25-acre property is nestled in the foothills of the Shenandoah National Park in the verdant county of Rappahannock, Virginia. The Appalachian Trail, mountain stream fishing and local vineyards are some of the area’s most noteworthy escapes. Professionally designed and constructed in 2008 with efficiency and a low environmental footprint in mind, this geo-thermal house shares a strong bond with its environment.

National parks and reserves are an integral aspect of intelligent use of natural resources. It is the course of wisdom to set aside an ample portion of our natural resources as national parks and reserves, thus ensuring that future generations may know the majesty of the earth as we know it today.
~ John F. Kennedy, President of the United States

Wyoming

$2,495,000 USD | Jackson, Wyoming | Jackson Hole Sotheby’s International Realty

This 4,850-square-foot home is in the heart of Grand Teton National Park; looking directly at the Tetons from this over three-acre parcel, hike, bike, or fish in the park with this elegant home as your starting point. The home includes a kitchen for the gourmet cook and entertaining, a separate office/study, an exercise room and a sitting room off the master bedroom. The very well thought out floor plan captures the expansive views of the Grand and Teton Range as well as surrounding mountains.

California

$1,495,000 USD | Soledad, California | Home & Ranch Sotheby’s International Realty

Experience the sprawling views of the Salinas Valley and West Pinnacles National Park from this private 160-acre ranch in the Gabilan Mountain Range. The unique estate boasts active production of ultra-premium Chalone AVA Pinot Noir and Cabernet Sauvignon grapes, onsite ATV trails, and Pinnacles National Park trail access. The exceptional residence is meticulously designed with high-end finishes, open floor plan, stone wine cellar, lap pool, and floor-to-ceiling windows that take in picturesque views from every room.

Don’t miss the rest of our Great Outdoors Series

Significant Sales – Best of Volume I

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From captivating waterfront retreats and soaring metropolitan penthouses, to vast, sprawling ranches and everything in between, many remarkable properties were featured in Volume I of Significant Sales. Here are five of the top homes from Significant Sales – Best of Volume I.

01-BriggsFreeman

Price Undisclosed | Briggs Freeman Sotheby’s International Realty | Texas, USA

The largest sale in the history of the Sotheby’s International Realty® brand, The W.T. Waggoner Ranch is one of the largest and most famous ranches in the United States and was established in 1849. Never before o ered for sale in 165 years of ownership prior to this sale, the sprawling Ranch estate includes more than 535,000-contiguous acres spread over six North Texas counties, incorporating two main compounds, many homes and signi cant infra- structure, including a 65,000-square-foot Ranch o ce headquarters in nearby Vernon, Texas.

02-HOM

$45,000,000 USD | HÔM Sotheby’s International Realty | California, USA

Twin Points is an over two-acre landmark oceanfront estate on the coast of Southern California. Majestically situated, its 1,400 lineal feet of waterfront include two massive landforms projecting into the ocean. Together, these “twin points” shelter the private cove that lies between. Atop the rock, magnificent gardens and lawns transform the site into a paradise. Behind its gates, improvements include a motor court, a Polynesian-themed main residence, and a guest house. A pool and terraces await repose. Meticulously kept, these elements complement the setting and subtly bring order to an environment directed to the out of doors. A private white sand cove further distinguishes the uniqueness of this estate and adjoins a man-made lagoon.

03-EastSide

$35,000,000 USD | Sotheby’s International Realty – East Side Manhattan Brokerage | New York, USA

This stunning high oor apartment at 101 Central Park West between 70th and 71st Streets was impeccably renovated by Shelton, Mindel & Associates, featured in Architectural Digest and o ers the rare combination of contemporary living in a venerable pre-war co-op. Approximately 7,000 square-feet with more than ve bedrooms and boasting a vast expanse of 100 linear feet directly on the Park. The en lade of entertaining rooms includes a dramatic living room with wood burning replace, a wonderful dining room and a sun- ooded corner library with lovely views to the Midtown skyline.

Browse past editions of Significant Sales

Top Noteworthy Sales from Around the World

01-Damianos

$35,000,000 USD | Damianos Sotheby’s International Realty | Bahamas

Located in the exclusive community of Lyford Cay this spectacular family home is on a fabulous beach in the most private and secure of settings. Los Pastores has a total of 12 bedrooms, 12 bathrooms, ve dressing rooms, dining room, games room, TV room, study/library, family kitchen and commercial kitchen, a large wood paneled Plantation drawing room and elevator all on nearly three acres of private tropical landscaped grounds. Complete with spacious verandas and a beachfront Tiki bar with sundeck overlooking the sea and the over ow swimming pool, experience spectacular sunsets, morning swims or a jog on the beach all at your ngertips in a beautiful setting. Amenities include a gym, grass tennis court, sta accommodation, three-car garage and stand-by generator.

02-Turks & Caicos

$22,500,000 USD | Turks & Caicos Sotheby’s International Realty | Turks & Caicos

Oliver’s Cove is perfectly positioned with nearly 800 feet of beach frontage on over six acres, including 357 feet of frontage for future expansion. Oliver’s Cove is the premier estate amongst only 12 private homes on this private island paradise. The Main House, with four bedrooms, ve-and-a-half bathrooms and 9,153-square-feet under roof boasts an in nity-edge pool set directly in the sand. The ultra-high quality interior is functional, elegant and exquisitely crafted, featuring approximately 20,000-square-feet of hand-troweled Venetian plaster walls and ceilings with aged, exposed wooden beams and hickory wood ooring throughout.

Discover all of the homes in our Best of Volume I issue of Significant Sales

CNBC | Sotheby’s International Realty makes a push into Asia, starting with Singapore

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Singapore’s luxury property market is attracting a different set of buyers, says Michael Valdes from Sotheby’s International Realty.

Gluckman-Tang, LTL, and NADAAA selected as finalists for arts center in Telluride, Colorado

From The Architects Newspaper

By • April 11, 2017

Gluckman-Tang, LTL, and NADAAA selected as finalists for arts center in Telluride, Colorado. (Courtesy Aurelie Slegers)

Gluckman-Tang, LTL, and NADAAA selected as finalists for arts center in Telluride, Colorado. (Courtesy Aurelie Slegers)

A tiny mountain town nestled in the Rocky Mountains is bringing in the big guns for the adaptive reuse of a beloved crumbling warehouse in its burgeoning arts district.

Already a destination for the outdoorsy, the former mining village of Telluride, Colorado, decided to add ‘thriving arts community’ to the list of reasons to come and visit. Local non-profit Telluride Arts was instrumental in the push for more cultural programming and is responsible for the adaptive reuse of the dilapidated, but adored, Telluride Transfer Warehouse.

The 6,000-square-foot sandstone warehouse stands at the heart of the arts district, making it an ideal spot for a center for the arts and a good candidate for restoration. After gaining approval for restoration, Telluride Arts launched a national design competition earlier this year. “Key elements of the program include a Kunsthalle for exhibitions, flexible spaces that transform to host a multitude of events, and a small, museum-style bar/cafe that invites a constant flow of people and casual gatherings into a living-room atmosphere,” said the arts organization on their website.

(Courtesy Aurelie Slegers)

(Courtesy Aurelie Slegers)

Thirty firms put their names forward and, after careful selection, three finalists have been chosen: Gluckman-Tang and Lewis.Tsurumaki.Lewis of New York, and NADAAA of Boston. The finalists will now have two months and a $10,000 stipend to put together a conceptual plan ready to present to the community on May 30.

During that time, the teams will visit Telluride get to know the town and the little warehouse that could. The building is listed as a National Historic Landmark and has stood for over 100 years. Originally built in 1906, it was in use until its roof collapsed in 1979. Since then, the building has stood vacant and decaying, a period that has become as much a part of its history as the life it had prior to 1979.

(Courtesy Aurelie Slegers)

(Courtesy Aurelie Slegers)

NADAAA touched on this relationship of crumbling historic landmark and contemporary cultural hub in their statement to Telluride Arts.

“Rare is the opportunity to both preserve an important historic landmark and create something wholly unprecedented,” said Katie Faulkner and Nader Tehrani of NADAAA. “The Transfer Warehouse stands as a monument to Telluride’s history of perseverance. The fundamental challenge of the project will be to maintain the power of the ruin while sponsoring the vision and opportunity through architectural speculation for the Arts District.”

The final presentation will occur in Telluride on May 30 and Telluride Arts anticipates construction on the project to begin in 2019. To learn more about the Telluride Transfer Warehouse visit the Telluride Arts website here.

Bill Fandel’s Recent Significant Sales

Bill Fandel has closed three significant sales at $6 million or more in the last 4 months!

SOLD! 427 Benchmark Drive – $7,850,000 – Represented Seller

 

SOLD! 137 Touchdown Drive – $7,000,000 – Represented Seller & Buyer

 

SOLD! 710 Mountain Village Boulevard – $6,000,000 – Represented Seller

 

 

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