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October 20, 2017
Sotheby Uniting Extraordinary Properties With Extraordinary Lives
Donald Trump's Ultra-Exclusive, 6.5 acre palatial ocean-front residence in Palm Beach, Florida, is for sale. Featuring 574 feet of direct ocean frontage, the beautifully renovated 67,000-square-foot main residence has onyx floors, sweeping ocean views, broad Bermuda lawns, a magnificent master suite, five guest suites, a ballroom, a media room, a wine bistro, an art gallery, staff quarters, a full collector-s basement, a 100-foot pool and more. It-s complemented by three additional structures, including a two-bedroom pool-side retreat, a two-bedroom guest house and a charming four-bedroom, four-bath coach house built around 1930.
" We couldn-t think of a better vehicle to help us expose properties in Charleston internationally. "
This extraordinary residential property-the best of the best-is listed by Sotheby-s International Realty, Palm Beach Brokerage for $125 million.
Sotheby-s has been involved in the high-end real estate business internationally since the 1970s. But when it combined forces with the Cendant Corporation in 2004, its profile rose astronomically. Attracted by the international prestige and growing demand for properties in North Carolina and South Carolina, the company set out to entice well-established real estate companies in the Carolinas into the Sotheby-s fold.
In its search for real estate professionals skilled at "artfully uniting extraordinary properties with extraordinary lives," it didn-t take long for Sotheby-s to begin wooing Prince George Realty in Pawley-s Island, South Carolina.
"We were the first Sotheby-s affiliate in South Carolina," states Carol Jayroe, a Pawleys Island-area native and partner in Prince George Sotheby-s International Realty. "We joined in February 2005, and it-s just been a fabulous experience for us. The worldwide exposure that we have with the international Web site and the international marketing that Sotheby-s does for us seems to fit like a glove with our clients who have higher-priced properties and need the exposure in other places."
Prince George SIR offers many of the most beautiful homes and properties found along the gorgeous South Carolina coast. Specializing in the listing, marketing and sale of the region-s most sought-after properties, the company focuses on waterfront acreage and unique properties that stretch north, south and west from Myrtle Beach, South Carolina.
"As a small company, we are able to do things now that we never could have done as a stand-alone company," adds Jayroe. "The support we get from Sotheby-s corporate is incredible."
SOLD - 2423 SOUTH BAY ST., GEORGETOWN, SOUTH CAROLINA Their luxury listings are evidence that real estate companies like Prince George Realty fit perfectly with the Sotheby-s brand. In recent months, the company sold a one-of-a-kind property on Winyah Bay in Georgetown for $3.3 million, its largest sale of 2006. Located on a three-and-a-half-acre site, the residence includes the main house, originally built in the 1940s, a guest house, an outdoor kitchen with a gas grill and tremendous fireplace, a swimming pool, a separate office/workout room, a storage building and a detached three-car garage.
LISTED - 655 BEACH BRIDGE ROAD, PAWLEYS ISLAND, SOUTH CAROLINA Jayroe currently has the company-s highest listing. Located along Beach Bridge Road in Pawleys Island, this unique property boasts the perfect package of location, style and charm. Exquisitely furnished and decorated, the home features spectacular ocean views and breathtaking Lowcountry marsh views overlooking Middleton Point. With six bedrooms, six full and two half baths, this home has room for expansion. A third floor will feature two additional bedrooms, two bathrooms and a sitting room.
Among the next real estate firms in the Carolinas to affiliate with Sotheby-s International Realty was the much larger McDevitt Town and Country Real Estate, with three offices in the Pinehurst and Southern Pines area of North Carolina.
"While the phrase, ‘the best of town and country- still describes the nature of our business, we are now McDevitt Sotheby-s International Realty," states Noel McDevitt, managing broker and CEO of the firm. "We affiliated with Sotheby-s in June of 2006, a move that has enabled us to introduce our clients- properties to people all over the country and all around the world. And the affiliation has helped put this area on the map by letting prospective property owners know there are a lot of amenities and a great quality of life here."
McDevitt says the affiliation with Sotheby-s International Realty allows his company to maintain the small-town feel and culture of this family-owned business but extend its reach throughout the region, the country, and, indeed, the entire world.
"No other realtor in this area has that ability," he says. "As a result, we are uniquely positioned to represent the Pinehurst and Southern Pines real estate markets locally and throughout the world for both buyers and sellers."
LISTED - HISTORIC LANDMARK FARMS, SOUTHERN PINES, NORTH CAROLINA One of McDevitt SIR-s top listings so far in 2007 is Historic Landmark Farms, located in Southern Pines, North Carolina. Designed by Mott Schmidt for the Firestone family, this is one of North Carolina-s premier properties. Located on 49 acres adjacent to the Walthour-Moss Foundation and overlooking a private lake, this grand 10,000-square-foot, finely-crafted estate features all that-s expected in a home of this caliber. Unique amenities include a fitness center, an indoor and in-ground pool, a media room/home theater, an outdoor basketball court, staff quarters, a steam room, a tennis court, a library and a wine cellar/grotto. The property also includes a guest house, stables, paddocks, a boat dock and gardens. You can ride to the hunt or enjoy world-class golf at Pinehurst, just 10 minutes away. The asking price on this property is a mere $6.25 million.
Sotheby-s most recent affiliate in the Carolinas is Daniel Ravenel Real Estate Company, located in historic downtown Charleston, South Carolina. Established in 1983, the company is independent, locally owned and attuned to every nuance of the Lowcountry real estate market.
"We-re a relatively small real estate firm," says Daniel Ravenel, a ninth-generation Charlestonian. "We did not make this move to Sotheby-s as an act of desperation. In fact, it took us quite a while to come to the conclusion that it was a good idea. Our main test was whether this would better enable us to serve our clients. We think it will."
The company, which affiliated with Sotheby-s International Realty in February 2007, sold more than $100 million in real estate in 2006. Ravenel notes that the company-s average transaction is about $925,000.
"We live in a global economy," Ravenel continues. "Sotheby-s is an international firm with a well-recognized name and therefore a very well-recognized Web site. Our affiliation puts our clients- properties in the hands, in the eye or in the minds of the top buyers all over the world. We couldn-t think of a better vehicle to help us expose properties in Charleston internationally."
LISTED - 32 CHARLOTTE ST., CHARLESTON, SOUTH CAROLINA Clearly this historic residence, the Wegman-Holmes House, is exactly the type of residential property that fits the Sotheby-s "extraordinary" model. Built around 1920, this brick Charleston single-style house features a unique Victorian two-story rounded addition. The level of interior architectural detailing, as many have commented, is exceeded only by the Nathaniel Russell House, which is recognized as one of America-s most important neoclassical dwellings. The main house at 32 Charlotte Street has three stories with a basement and a workshop. There are four bedrooms and two-and-a-half baths, plus a wonderful fireplace on each of the stories of the main house. The kitchen house on the property has been successfully operated as a bed and breakfast, grossing approximately $65,000 yearly. The property is the largest residential lot in the Mazyck-Wraggborough neighborhood, with just over a half acre. The asking price for this historic Charleston gem is $3.995 million.
SOLD - 60 MURRAY BLVD., CHARLESTON, SOUTH CAROLINA Daniel Ravenel SIR-s largest 2007 listing to date is 60 Murray Blvd., located in Charleston-s most prestigious South of Broad neighborhood. This 1920s Colonial Revival mansion on the historic Charleston Battery was masterfully restored and expanded in keeping with Charleston-s finest traditions. Spacious, light-filled rooms feature intricate molding and paneling, and the fabulous gourmet kitchen has many fine features. The formal front and rear gardens have been designed by landscape architect Robert Chesnut. The asking price is $3.995 million.
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