LOS ANGELES, April 4, 2016 /PRNewswire/ -- Coldwell Banker Previews International is showcasing the plans of leading Los Angeles luxury developers Michael Palumbo and Jay Belson for two ultra-exclusive new modern estates, recently introduced to the market for a combined $145 Million. These two modern showplaces are set to grace the nation's most exclusive addresses:
- $100 Million 2.6 acre tennis court estate set on its own private street behind the coveted West gates of Bel Air, with approximately 30,000 square feet of sophisticated modern living that spans two structures, each with their own APN, walls of stone, glass and vanishing doors, sweeping views to the ocean and calming fire and water elements throughout. Amenities include a 180 foot long lap pool, infinity edge pool, enormous spa, entertainers' lounge area, gaming area, wine bar, 16 seat theater and 9,000+ square foot outdoor entertaining deck with park like grounds rarely available in view properties.
- $27,995,000: Pre-construction acquisition with land and fully engineered architectural plans, weeks away from city approved permits.
- $45 Million Beverly Hills sophisticated contemporary estate, approximately 15,000 square feet, trophy view property on a promontory with unobstructed ocean, city and canyon views boasts a sexy 70-foot infinity edge pool and attached Jacuzzi, all star entertainment area with a two-lane professional bowling alley, 20 seat theater, wine tasting area with 3000+ bottle glass incased wine displays, full professional bartender's bar, game area, media/sports lounge, wellness center and large gym and a private master retreat with built-in Jacuzzi.
- $12,995,000: Pre-construction acquisition with land and fully engineered architectural plans, subject to city approval.
The developers, each with over 30 years of real estate experience and a proven track record of successfully developing world-class properties, are experiencing unprecedented success selling properties not only prior to completion, but before ground-breaking. They are at the forefront of a powerful emerging trend fueled by the strength of the luxury market in LA and driven by high demand both domestically and from global real estate investors. A study released this January by the Association of Foreign Investors in Real Estate (AFIRE) and the Wisconsin School of Business ranked the U.S. as the #1 nation for stable and secure real estate investment by 60% and LA among the top global cities for real estate investment, earning the #3 spot on the Top 5 list of best global cities to invest in.
Michael Palumbo and Jay Belson are uniquely poised for success in this ultra-competitive arena based on the fact that they are seasoned professionals willing to take on the greatest risk by investing in properties in the formative stages with numerous hurdles to be cleared prior to realizing a return. Their experience in identifying the best in class properties and negotiating very exacting detailed terms sets them apart from the rest. They use their keen business and design sense in collaboration with world-class architects to develop these show-stopping, sophisticated, sexy and warm contemporary residences. These one of a kind, best in class uber-estates are true works of art, meeting the exacting expectations of affluent buyers who demand only the best. They navigate a multitude of challenges to obtain all necessary entitlements and city approval on the fully engineered plans, and ultimately, deliver a safe and secure investment for the buyer, with all of the arduous groundwork completed. The entire process can take up to two years.
"The high-end Los Angeles real estate market continues to remain a strong and attractive investment for the growing number of global billionaires who are looking for land, privacy and value when compared to other major metropolises like Manhattan," said Belson.
"The homes that we design and build are a beautiful blend of resort style living and estate architecture where amenities are plentiful, design is impeccable and buyer needs have been anticipated and met before they walk through the front door," said Palumbo.
The premiere estates are listed by Joyce Rey, Christopher Damon and Alicia Damon of Coldwell Banker Previews International.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/coldwell-banker-previews-international-showcases-plans-for-2-new-contemporary-masterpiece-estates-in-los-angeles-on-the-market-for-145-million-300245087.html
SOURCE Coldwell Banker Previews International