April 29, 2008
The most exclusive property in London?
A residence fit for a King - or a Queen. Possibly the most expensive, most exclusive, most desirable, most spectacular, most………. When they talk of ultra-luxury, this is what the word was coined for.
“Oakmayne bespoke,” will soon be launching what has to be the most (see above) properties in London – 6 double-fronted ambassadorial residences, and 3 apartments in 20-21, Cornwall Terrace Mews, Regent’s Park London, NW1. I hesitate to use the words home, or house. These are residences.
This is probably the most prestigious address in London. (Found another superlative) and it is unlikely another property such as this will ever come on the market again.
This particular stretch of the Terrace was leased to British Land as their headquarters, and when the lease ran out, Oakmayne jumped at the chance to buy it. I spoke to Beth Dean, the director of sales and marketing at Oakmayne, and she was a little “coy,” about the price paid. Translation – she wasn’t saying and is not going to.
Cornwall Terrace is part of the Crown Estate, and as such, you can honestly say that you live in one of the Queen’s houses should you choose to buy one. Cornwall Terrace is also a grade one listed building, and must therefore be restored in a way that remains true to the original features and styling.
Restoration work is underway at the moment and there is no expense being spared. Apparently, the previous tenant had covered all the beautiful crown moldings and ceilings with a suspended ceilings and hidden the original fireplaces with plasterboard. Most of this is still intact and where it was missing, new moldings have been created using casts. Each floor has a different molding, presumably to remind the servants when they were in a forbidden area.
What little I have seen is nothing less than perfect. Their brochure states:
The conversion has been designed to ensure that each reception room and bedroom maximize space and allow light to stream through to every corner.
From floor finishes hand crafted from beautiful Italian marble and oiled and polished elegant hard wood, to the carefully restored fireplaces and corniching, every element is designed to appeal to a sensory awareness of exquisite quality and the promise of an unparalleled finish.
Prices have not been decided yet, but a starting point of £4,000 per square foot was mentioned ($8,000 psf). Residences will vary in size from 8,000 to 14,000 sf ft. So, prices will range from $64 million to $112 million, depending of the level of finish required. These properties make One Hyde Park look cheap and tacky.
The launch will be mid-June. By invitation only. But don’t be too disappointed if your invitation gets lost in the post. It is estimated that there are only 300 Europeans likely to be wealthy enough to afford one of these. Although, if you feel you have been left off the mailing list by mistake, feel free to send me a copy of your bank statement and I will pass along your details for a small fee 
Cornwall Terrace was designed by the prolific British architect, John Nash, after he was forced to return to work following a bankruptcy. This is what they looked like back in the day:
Filed under Luxury Developments by Mark Knowles
February 29, 2008
Larry Silverstein
Larry Silverstein heads Silverstein Properties, a real estate developer and management organization. The company owns over 7 million square feet of prime residential and office space in Manhattan.
They were responsible for building the Ronald Reagan Building in Washington DC – at 3.1 million sq foot, the biggest privately developed office building in the US. The building is, of course, occupied by the US government. At that time, the Ronald Reagan building was the most expensive federal building ever built ($768 million and came in for substantial criticism considering the fact that Mr. Reagan himself was against such ostentatious government expenditure. But it seems Mr. Silverstein has friends in high places
Six weeks before the September 11th attacks on the World Trade Center, Silverstein Properties acquired the lease to the building which marked the largest real estate transaction in New York history. Only being overshadowed by the subsequent insurance claim which took several years in court to settle. Silverstein is committing the bulk of the $5 billion settlement to the redevelopment of the World Trade Center site.
Silverstein opened 7 World Trade Center in 2006 – a 52 floor office tower at 250 Greenwich Street near the World Trade Center site.
Many of Silverstein’s properties are commercial, but they also have substantial interests in the luxury residential market with plans to build the tallest residential downtown tower at 99 Church Street. The property will be operated by luxury hotelier The Four Seasons. Architects for the project are Robert A.M Stern. Once completed, the building will stand 80 stories tall and have a slim profile. The lower half of the building will comprise a 175-room Four Seasons Hotel with the remaining floors given over to private condominiums. 143 luxury apartments of up to 6,500 square feet.
Clearly this company is a force to be reckoned with in the luxury real estate market.
The Ronald Reagan Building
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Filed under For Enthusiasts, Luxury Property Developers by Mark Knowles
