Lehman's CEO consigns Postwar Art to Christie's

Christie's
Study for Agony I: Arshile Gorky (1904-48) estimated to sell for up to $2.8 million

Christie's
Willem de Kooning's 'Woman' estimated to sell for up to $4 million

In the wake of the bankruptcy of Lehman Br Holdings (OTC: LEHMQ), chairman and CEO Dick Fuld and his wife Kathy have begun selling off their prized collection of modern art.

The couple have consigned 16 post war drawings to Christies auction house.
The pre-sale estimation is $ 15 to $ 20 Million.
The auction house also confirmed the deal included a guarantee, an undisclosed sum promised to the seller whether or not the works sell.

The drawings will be shopped to potential bidders in Moscow and London before being offered Nov. 12 during the fall auctions in New York.

Kathy Fuld , a trustee at the Museum of Modern Art, and her husband, Richard S. Fuld Jr., the longtime chief executive of Lehman Brothers, which is now bankrupt live in Greenwich, Connecticut.
They also own a $21 million Park Avenue co-op, a home in Vermont, another one in Sun Valley, Idaho and in 2004 acquired a fantastic oceanfront property in Jupiter Island, Fl for only $ 13.75 Million.

The 16 drawings are mostly abstract and minimalist examples from the mid-century NY School of artist.

A Willem de Kooning's 1951 drawing of a nude woman titled "Woman," is estimated to sell at $ 4 Million.
Other works such as Agnes Martin could sell for $ 700,000, an untitled 1960 abstract from Barnett Newman could reach $ 2 Million and "Study for Agony I" ( 1946) by Arshile Gorky is estimated at $ 2.8 Million.


Via: The Wall Street Journal

World-Highrise/Skycraper

Atlanta, Boston, Charlotte, Chicago spire, Cleveland, Dallas, Dubai, Frankfurt, Guangzhou, Hong Kong, Houston, Kuala Lumpur, Las Vegas, Los Angeles, Louisville, London, Melbourne, Mobile , Montreal, Moscow, Nashville, New York, Philadelphia, Pittsburgh, Seattle, Seoul, Shanghai, Taipei, Toronto.

Miami Mondrian

Located on West Avenue, Mondrian South Beach is at close proximity to landmark Lincoln Road mall which is lined with boutiques, sidewalk cafe and restaurants.

The property boasts direct access to one of the most vibrant cities in the world, fabulous Sunset views overlooking the Miami skyline and direct access to Biscayne Bay.

Mondrian South Beach’s 335 studio, one and two bedroom apartments and penthouses are bright spaces with unique features and custom detailing designed by Marcel Wanders.

Spaces flow into one another to create an expansive feel, large windows, many with balconies, open to stunning views of the bay and ocean. Sophisticated color palette of grays, gold, black and white has created a dynamic feel.
As you enter the lobby, you will see a distinctive black and white pattern ( clearly a signature mark of the Mondrian) and giant faces painted on walls following you everywhere...

The four Tower Suites each feature over 3,000 square feet of interior space, 2,000 square feet of terrace and includes butler service; breakfast each morning and hors d'oeuvres with cocktails each evening on request.

ASIA DE CUBA restaurant ( legendary found at several Morgan Hotel properties) blends the best of Asian and Latin cuisines.

This will be the new trendy spot for the holidays!


Studio 550 sq.ft starts at $ 550,000
1 bedroom 750 sq.ft starts at $ 700,000
2 bedroom 1,200sq.ft are rare and have different pricing.
While you own a unit at the Mondrian, you are enrolled in a world wide Morgan's Hotel club, which offers you VIP services at any Morgan's Hotel in the world.

The MONDRIAN will open its doors during the ART BASEL festival on the first week of December 2008.

World most expensive luxury property market

According to Bloomberg report, The principality of Monaco has surpassed London as the world's most expensive property market with a $ 7,000 per square foot.
As the prime residential market is weakening across the world due to the fallout from the credit crunch, cities like Monaco on the French Riviera and chalets in the French Alps continue to see the value climbing.
The average price of Monaco's luxury market rose 30% over last year as opposed to 1.8 % in London.

Top 10 luxury property markets in the world:

1. Monaco 30%
2. London- U.K. 1.8 %
3. Cap Ferrat- France 2.0 %
4. Courcheval- France - 2.0 %
5. New York- USA 12.3 %
6. Moscow- Russia 18.4 %
7. Tokyo- Japan - 9.4 %
8. Hong Kong- China 27.2 %
9. Sydney- Australia 4.0 %
10. Paris- France 0.0 %

Morteza - Sarzanesh

ATLANTIS, DUBAI

Bedroom with a view of giant aquarium

Bathroom with water cascading from high up in the ceiling

Bathroom with view of splendors of the aquarium

" Leap of Faith" chute at the Atlantis resort

Hotel suite with view of the Persian Gulf

Spa

One of the many restaurants

Discreet " tete a tete"

Moody retreat

A view of Burj Al Arab Hotel and Palm Island Jumeirah. Atlantis Hotel in the background

Jumeira Palm Island seen from an helicopter. The Atlantis Hotel at distance

Atlantis hotel is set to open tomorrow...

113-acre resort on an artificial island off the Persian Gulf coast will cost $ 1.5 Billion.

Kerzner International, the hotel operator teamed with Dubai developer Nakheel on the resort.

Much of the focus at Atlantis, modeled on a sister resort in the Bahamas, is on ocean-themed family entertainment. The resort contains a giant open-air tank with 65,000 fish, stingrays and other sea creatures and a dolphinarium.
A three-bedroom, three-bathroom suite will cost you $ 25,000 a night.

Donald Trump plans to open a hotel at the center of Palm Jumeirah, where nearby an 1,800-seat theatre will house a permanent Cirque du Soleil show beginning in summer 2011.

By 2010, Dubai aims to attract a staggering 10 million hotel visitors annually, up from about 7 million in 2007. Atlantis alone will increase the city's hotel capacity by 3 percent.

In 2006, Kerzner company took itself private in a $ 3.6 billion deal partially bankrolled by a division of Nakheel's state-owned parent, Dubai World. Nakheel retains a large stake in the company.
Meanwhile, Nakheel's hotel division rapidly expanded. The company's holdings include New York's Mandarin Oriental, the Fontainebleau in Miami Beach, and the W Hotel in Washington.

Its parent also owns a minority stake in MGM Mirage Inc., and is teaming with the casino operator and Kerzner to build a massive multibillion-dollar casino on the Las Vegas Strip.

.

.

Information and pictures courtesy of Mail Online

LAMBORGHINI IN LAS VEGAS

The art of fine dining does not have to be dull. It can be fun and exciting...

Lamborghini Las Vegas has launched a one of a kind, multi-million dollar, state of the art 20,000-square-foot showroom in conjunction with "Dal Toro Ristorante" the only true Italian restaurant at The Palazzo.

Co-owners Lorenzo Barracco and Fabrizio Sotti are visionaries and have created this amazing, unique concept restaurant.

Part of the decor is a display of fine European artwork amidst a fabulous collection of Lamborghini sports cars combined with true authentic Italian cuisine.

Dal Toro is located inside the Palazzo Resort at 3225 Las Vegas Blvd. South.

Photos courtesy of Dal Toro

Hami Sharif - Do Nimeye Roya

The new 'Chic" address

A staggering number of recent multimillion-dollar real estate purchases in New York were made by executives at the free-fallen Lehman Brothers.

In January 2007, Dick Fuld the firm's chief executive paid $21 million for a Park Avenue co-op.

At 15 Central Park West:
Raymond Mikulich,the co-head of Lehman Brothers Real Estate Partners paid $17.9 million;
Erin Callan, Lehman CFO paid $6.48 million;
David Bizer, the head of Lehman's European fixed-income sales paid $5.3 million;
Arthur Estey, managing director bought one of the building's biggest non-penthouse units for $16.9 million.
George Herbert Walker IV, Lehman's global head of investment management, one of the president's cousins, paid $13.95 million for a townhouse at 6 East 10th Street in Greenwich Village.

The explanation for this : those insanely large bonuses we read about each year, and a brilliant awareness of what a valuable investment opportunity those properties would ultimately become.

However, none of those deals looks more ironic in hindsight than the $25 Million spread that Bear Stearns’ ex-CEO Jimmy Cayne bought in February at the Plaza.


Via: The New York Observer:

Hedge Funder Buys 823 Park Condo for $13.5 M.

Ray Iwanowski, a hedge fund manager just bought a 4,184-square-foot apartment at 823 Park Avenue for $ 13.5 Million
-which may prove that select financiers whose groups lose a few billion dollars during rough times are still willing to buy up full-floor, nine-room, five-bedroom, two-fireplace apartments-

Via The New Observer

The Last Desk You'll Ever Own.

Heckler Design beautiful, ergonomic, space-saving computer desk is simple, chic and clearly designed with Mac in mind.
Today, your entire computer is an inch thick and your printer is in your closet connected to your WiFi.


Available in silver/grey and glossy white.
Also come made entirely of stainless steel.

570 galleon dr, Naples

Fabulous estate home with ample wide views of Treasure Cove in Port Royal, Naples.
This 23,380 sq.ft two story home with detailed design and maple flooring offers 7 bedrooms, 9 full & 4 half bathrooms, library with hand carved radius bookcases, hand painted ceiling panels, 12 seat media room, 1000 bottle cooled wine cellar, 2 summer kitchens, elevator and much more.
You will also find a fantastic pool deck surrounding the sapphire blue mosaic pool, boat dock with direct gulf access, 6 car garage, putting green and guest house.


Listed at $ 24.9 Million
Courtesy: Lindsey F. Smith
Premier Properties of Southwest Florida, Inc.

World's Most Extravagant Party in Dubai

Billionaire tycoon Sol Kerzner will launch a new resort in Dubai with a $25 million party featuring a massive fireworks display that will be visible from space.
The grand opening of the $1.5 billion Atlantis, The Palm, will have 2,000 guests and last four days

In developing Atlantis, The Palm, Kerzner International Holdings has once again recreated the myth of Atlantis, the legendary island that sank into the ocean - the original being the Atlantis, Paradise Island located in The Bahamas.

Atlantis Hotel will be two towers with a total of 1,500 rooms, with two monorail stations linking it to the main stalk of the Palm Jumeirah.

The Palm, is set to be one of the most luxurious resorts in the Middle East, with 360 degree water views. The hotel will feature 16 restaurants from acclaimed chefs such as Santi Santamaria, Giorgio Locatelli, Nobu Matsuhisa and Michel Rostang.

An 11 million liter marine habitat that is home to more than 65,000 marine animals will be the focus of the property.

Approximately 6,000 palms, and over half a million shrubs and ground cover were used to create the landscape.
Rising 30 metres high, the center-piece of the water park is the Mesopotamian-style Ziggurat.

The opening of the resort is schedule for September 24, 2008.

The Ivy and Le Caprice to open in Dubai in 2010

Located at the crossroads between East and West, Dubai is a melting pot of cuisines: from classical European to indigenous Middle Eastern dishes and food from the Pacific Rim. Furthermore, its position as one of the world’s leading destinations, both for business and leisure travel, means that Dubai has been chosen as the site for many flagship international restaurants and critically acclaimed chefs, often affiliated to one or other of the emirate’s myriad luxury hotels

The Ivy and Le Caprice two bastions of London’s culinary scene, and amongst the city’s most popular celebrity haunts, have recently announced that they will be marking their international debuts by opening in Dubai.

Gatwick Airport for sale

BAA has announced plans to sell London's Gatwick Airport the second largest and busiest airport in the United Kingdom after Heathrow.
Following antitrust regulations, BBA Ltd who also owned Heathrow has planned to sell Gatwick airport for a reported $5.4 billion.

Sir Richard Branson, billionaire tycoon founder of the Virgin Group ( Virgin Atlantic and Virgin Mobile) with an estimated fortune of $ 2.8 Billion is one of many bidders for the airport which handled 35 Million passengers in 2007.
Gatwick is the sixth largest airport in Europe.
The London Telegraph reports Branson's partners are said to include Dubai's Royal Family.

4501 GULF SHORE BLVD, NAPLES

Spectacular 180° views of the Gulf of Mexico, white sandy beaches and beautiful sunsets from this exquisite Penthouse at ARIA.
Superbly designed with stone floors, crown moldings, impressive tray ceilings and customized lighting this 5,331 sq.ft residence offers 4 bedrooms plus den, 4 bathrooms, ample living area and a private open terrace.
Magnificent luxury conveniences located on the beach in the most desirable Venetian Village where World Class Shopping , fine dining and entertainment is part of this Floridian lifestyle.

Listed at $ 5.2 Million
Courtesy: Frank B. Petras
John. R. Wood