Budget-conscious modern home makes the case for efficient construction

A single-story house featuring dark panel cladding and a cut-out opening to the interior, which is lined in plywood. Ryan Jellyman.

The design embraces prefab concrete panels and plywood

As designers like to say, constraints lead to creativity. And in the case of this modern house in New South Wales, Australia, it’s absolutely true. Designed by Studio Jackson Scott, the single-story house was built around prefabricated concrete panels that dictated the proportions of the layout.

Budget and construction time were also top of mind for the architects. “In a country where building costs are among the highest in the world, efficiency of construction can substantially reduce the cost of a build,” designer Scott Jackson told Dezeen. “We had to think carefully about how to construct this building to ensure that design intent remained strong while construction details and methods remained simple.”

Wooden planks make up the floor, walls, and ceiling of a porch, which opens into the living room lined in plywood. The room features a black ceiling fan, black lounge chair, and tan rug. Ryan Jellyman
The living room features plywood walls throughout, a black sofa in the distance, a small round dining table with four chairs in the foreground. A cerulean and white artwork hangs on the right wall. Ryan Jellyman

Black concrete fiber panels flank create a dark, monochromatic facade, while a hardwood-lined cut-out creates room for a front porch. Inside, the house makes use of another economical material with locally-sourced plywood lining the walls and ceilings. The architects finished the kitchen and bathrooms with dark paint, cementing (no pun intended) the “dark vs. light” contrast found on the outside of the house.

A kitchen with plywood walls, cabinetry, island, counters, bar seating, and a recessed area covered in black tiles, which contains the sink and oven. The room has two windows looking to the outside. Ryan Jellyman

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$43.9M Mansion Featured on ‘Selling Sunset’ Is the Week’s Most Expensive New Listing

Selling Sunset mansion for sale

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A massive new mansion above the Sunset Strip listed for $43.9 million is this week’s most expensive new listing on realtor.com®.

If the 20,000-square-foot abode in Los Angeles looks familiar, it’s because it was featured on the Netflix reality show “Selling Sunset.” The show stars broker Jason Oppenheim, president and founder of the Oppenheim Group, and his cadre of real estate agents.

“It is done and it’s fabulous,” says Oppenheim of the finished product.

Oppenheim, who holds the listing, notes that the owner bought two adjacent lots (totaling about a half-acre) and then built the extra-large residence. However, the owner decided to live elsewhere and never moved in.

“It was built for him,” the agent says, “which is why you have this epic quality that you wouldn’t see in a spec home.”

The huge build on a relatively small plot of land is no longer allowed by local zoning. “It’ll be the last one of its kind,” Oppenheim says.

Dining room

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Living room that extends outside

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Kitchen

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Spa with massage tables and plunge pools

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Master suite

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Master closet

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Atrium and garage

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Designed by the South Africa–based agency SAOTA and completed this year, the enormous home features five beds and nine baths. The layout includes automated sliding glass doors, which expand the living space outside. 

Along with outdoor seating and dining areas, there’s a 175-foot linear pool with a waterfall cascading into an atrium garden. There’s also a 15-foot outdoor TV that rises from the ground and can rotate in any direction to be visible to every room in the house. 

The dramatic roof deck measures “several thousand feet.” On the show, it’s claimed to be “the largest roof deck in the Hills.” Other highlights include four spas, an elevator, home theater, and curated wine cellar. 

The spacious garage has plenty of room to hold a car collection, and the master suite includes a giant closet that would set any fashionista’s heart racing.

As “Selling Sunset” viewers will recall from the series, power lines initially marred the view from the home, but no longer. The owner apparently spent almost $1 million to have them moved underground.

“The view is unrivaled from any home that I’ve seen in my life,” Oppenheim says. “It is legitimately 300 degrees.”

If you love the look of the home, you can have that too. The furniture is available for an additional $1.1 million, bringing the total price tag to $45 million. You’re worth it!

The post $43.9M Mansion Featured on ‘Selling Sunset’ Is the Week’s Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

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Wayfair’s first physical store opens this week

The store opens August 21 in Massachusetts

Wayfair has become a go-to resource for home shopping, and it’s a distinctly online experience. But like a number of online home brands, the Boston-based company has decided to offer shoppers an in-store experience as well.

Located on the first floor of Natick Mall in Natick, Massachusetts, the company’s first permanent brick-and-mortar store fills 3,400 square feet with hundreds of products for in-store purchase and an array of “curated spaces” featuring products available for home delivery. It might seem unusual for a brand that sold $6.8 billion worth of furniture in 2018 to turn to more traditional retailing, but it’s a growing trend.

Like Ikea’s new small-format stores in city centers, the brick-and-mortar Wayfair experience will focus on providing customers with design advice to recreate rooms with various products. Customers will also have the opportunity to use Wayfair’s Custom Upholstery program to customize colors and fabrics to match individual styles.

This approach integrates traditional retail shopping with more digital experiences. Although the new Wayfair store will only sell a fraction of the retail giant’s 14 million products, it will offer something you can’t get online: the change to touch and try out things before you buy.

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Stockbridge Scores $350M Financing for Logistics Deal

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Image via Pixabay

Stockbridge Capital Group has landed $350 million in financing to acquire a 26-property industrial portfolio comprising 6.3 million square feet across nine markets in the U.S., with most of the properties located on the West Coast. The seller was San Diego-based Westcore Properties, which did not disclose a sale price.

An Eastdil Secured team of Stephen Silk, Jay Borzi and Adam Pastor represented Westcore Properties in the deal, while Stockbridge represented itself. PGIM Real Estate Finance provided the financing in the deal, with a team of Jaime Zadra and Elizabeth Velazquez arranging the acquisition financing through two 7-year, fixed-rate loans.

The institutional-quality logistics and e-commerce assets are located in five states—California, Arizona, Nevada, Utah and Indiana. Of the 26 properties, 11 are located in the California markets of the Inland Empire, East Bay, San Diego and Central Valley. Another 12 properties are located in Sparks, Nev., and one each is located in Phoenix, Salt Lake City and Lebanon, Ind.

The portfolio is nearly 100 percent leased, despite several of the properties being vacant at the time of the sale. Westcore began buying the properties in 2016 and has since completed renovations at nearly all of them. Tenants at the assets consist mostly of big-box and last-mile users. The portfolio includes bulk distribution facilities measuring up to 1.1 million square feet as well as light industrial properties.

Earlier this month, Westcore purchased a newly built, 379,800-square-foot industrial property in Phoenix from a joint venture of Wentworth Property Co. and a private real estate fund managed by Crow Holdings Capital.

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IDI Logistics Signs First Tenant at Miami Industrial Building

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Pompano Business Center II
Pompano Business Center II. Image courtesy of Cushman & Wakefield

Marble of the World, a division of The Stone Collection LLC, has signed a 94,261-square-foot showroom lease at Pompano Business Center II, a 133,814-square-foot industrial facility in Pompano Beach, Fla. The natural stone distributor will be the first tenant at the  warehouse, which was completed in 2019. Cushman & Wakefield represented the building owner, IDI Logistics, in the lease negotiations, while Colliers International represented the tenant.

Located at 3001 W. Copans Road, the property is right off Florida’s Turnpike, roughly 4 miles northwest of downtown Pompano Beach. Port Everglades is 18.6 miles south via Interstate 95 and Palm Beach International Airport is 34.8 miles north.

Recently developed on an 11.4-acre parcel, Pompano Business Center II features built-to-suit office space, 32-foot clear heights, 92 auto parking spaces, 38 trailer stalls, 30 dock-high doors, two drive-in doors and a 130-foot truck court.

A Cushman & Wakefield industrial team of Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister represented the landlord in the lease. Colliers International’s Steve Wasserman and Erin Byers assisted the tenant in the negotiations.

In January, Cushman & Wakefield represented the seller in the $62 million purchase of Powerline Business Park. The 444,000-square-foot industrial asset is 2.4 miles northeast of Pompano Business Center II.

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Broker, Non-QM Products; Policy and Procedure Trends

Posted To: Pipeline Press

Data compiled by the American Bar Association shows that average lawyer pay has nearly doubled since 1997! Mortgage loan originators enjoy comparing themselves to attorneys, despite the formal educational differences, the time involved with case work stretching out years, and the initial expense of law school most attorneys attend after college. And then there’s the bar exam with its “not a sure thing” passing rate . How about an exam for homebuyers before a sale can be approved? Spain has one . Also known as the Housing Credit Law, “it should greatly diversify what is on offer for homebuyers while providing better protections.” How about an exam for borrowers, the first question being, “Do you know that you must pay back a loan?” Okay, I’ll stop...(read more)

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