A developer has put the unbuilt project, known as Villa Pura, on the market with one of the biggest price tags on the Spanish island
2 min
What will be a sprawling villa in Mallorca has hit the market for €42.5 million (US$45.8 million) making it one of the most expensive offerings currently available on the bucolic Spanish island.
Work on the almost 19,000-square-foot residence is set to begin in September, and construction is expected to take somewhere around two-and-a-half to three years, according to Alby Euesden, managing partner of the Agency’s Mallorca office, which brought the home to the market at the end of June.
Surrounded by Port d’Andratx and the scenic mountain ranges of the Tramuntana, “Villa Pura has been designed to frame its surrounding environment at every opportunity, using space, light and form,” Euesden said.
“In many ways the central feature of the space is its unique pool, which acts as its main focus point, providing a rich source of visual interest,” he said.
The sizeable infinity pool, which will run the length of the home, will be joined outside by multiple terraces, a lounge area, an outdoor bar and dining space.
Inside, the open-plan home is set to boast a sleek and organic palette, with walls of windows, exposed stone and wood details.
There will also be multiple living areas, a kitchen with two islands, a double-sided fireplace, a formal dining room, a gym and nine bedrooms, including a primary suite with a private terrace and hot tub. And of course, far-reaching Mediterranean views.
The seller is one of the leading developers on the island, according to Euesden. “They acquired the land site over five years ago and have been meticulously planning the project, which initially consisted of various lots,” he said.
Euesden declined to comment on how much was paid for the underlying property.
Mallorca’s luxury market is “very buoyant right now,” he explained. “Spain has much lower mortgage rates than the rest of Europe and the U.S., with fixed rates [currently] from 2.15%.”
With Mallorca “being a destination market which attracts buyers from all over Europe, and with an ever-growing interest from U.S. investors, the market has remained stable and even seen an increase in pricing within new developments,” he added.
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A five-bedroom Palo Alto home designed by Steven Ehrlich is listed for $44 million, making it the city’s most expensive listing. Built around a dramatic concrete spine, the home features four courtyards and a pool.
3 min
For years, tech entrepreneur Asher Waldfogel and his wife, Helyn MacLean, dreamed of building a modern house in Palo Alto, Calif.
The couple, however, worried about clashing with the Mediterranean-style architecture typically associated with their neighborhood of Old Palo Alto.
So they tapped architect Steven Ehrlich to create a design that paid homage to its surroundings with stucco, mahogany and titanium zinc cladding. They spent $20 million over several years building the house, completed in 2005.
Now looking to be closer to their adult daughter on the East Coast, they are putting the five-bedroom home on the market for $44 million—the most expensive listing in Palo Alto.
Waldfogel is an angel investor who co-founded Redback Networks, a telecommunications-equipment company. MacLean previously had a career in fundraising.
The couple purchased the roughly 0.4-acre site for $7.1 million in 2000 and demolished a circa-1930s Spanish Colonial home. The house they built pinwheels around a central staircase. It has 7,900 square feet of livable space, with four distinct courtyards and a pool.
A key feature of the home is a cast-in-place concrete wall, or spine, that is two stories high and about 80 feet long. “There’s a little bit of controlled chaos in what comes out of the form,” unlike a perfectly uniform surface, Waldfogel said. “If you want that, you do it in plastic.”
Waldfogel said he and his wife are thinking about the next phase of life now that their daughter is grown, although they have not decided where they will move. They also have a home in Sun Valley, Idaho.
“Right now we’re just trying to emotionally let go and decide what to do next,” he said.
Palo Alto, an epicenter of venture capital and tech startups in Silicon Valley, is home to some of the country’s biggest tech titans. Sales volume and prices are rising, with a median sale price of $3.5 million for the three months ending in August, up 5.8% year-over-year, according to real-estate brokerage Redfin.
Arthur Sharif of Sotheby’s International Realty—San Francisco Brokerage has the listing.
