“Price comps” is a term used in real estate to describe the practice of comparing sales prices in relation to similar properties. In this weekly feature, we’ll explore three luxury real estate markets through a certain price point.”
This week, our search of $10-million homes in major luxury markets includes a sophisticated contemporary residence in Hong Kong, a large estate in tony Bel-Air and a turn-of-the-century townhouse in Manhattan, N.Y.
Hong Kong | $9.675 million (HKD$75000000)
Located on the eastern shore of the Clearwater Bay Peninsula, the waterfront neighborhood of Clearwater Bay features some of its most coveted properties in Hong Kong thanks to the white sandy beaches and lush green hillsides that surround it.
Housing options ranging from detached residences to townhomes to waterfront homes with pools have made the area popular among families and those desiring more space. For the sportsman, the area is host to the exclusive Clearwater Bay Golf & Country Club and the Clearwater Bay Equestrian and Education Centre.
This private residence, designed by a noted architect, takes in a partial ocean view while offering a floor plan tailored for flexible living.
Size: 2,127 square feet
Price per square foot: $4,549 (HK$3526000)
Inside: Recently renovated interiors feature hardwood floors throughout and a European-inspired kitchen that adjoins an open bar and a dining room. The entertaining spaces sit lofted above an open-concept living room, adding an element of volume while allowing natural light to reach the space. Pocketing doors adjacent to the dining room open to an intimate garden space; across from the living room, bi-folding doors open to a private barbecue area.
A total of three bedrooms and three bathrooms are within the multi-level floor plan. In the primary suite, a pearly-white bathroom is outfitted with a soaking tub and an open rainforest-stye shower.
Outdoor living space: The private backyard, reached through the living room, has a built-in barbecue, decking for patio furniture, a dipping pool and an outdoor shower. Fencing and tall hedges keep the space largely private. A rooftop lounge with a private gym sits atop the home.
Contact: Stephanie van Eybergen, Okay.com
Bel-Air, Los Angeles | $9.995 million
Few neighborhoods carry the cachet of Bel-Air, an area long-associated with Old Hollywood, celebrity and the great titans of industry. Known for its generational estates, the area is home to some of Los Angeles’ most exclusive properties, with average prices ranging in the tens of millions and trophy homes commanding nine-figure sums.
Architectural options are abundant. The neighborhood is home to a variety of homes designed by the greats of Southern California architecture as well as historic ranch homes and modern mansions. Access to top-tier private and public school options is another draw.
Sited on more than half an acre, this French-inspired estate evokes a five-star resort with refined living spaces and an abundant selection of outdoor amenities.
Size: 9,350 square feet
Price per square foot: $1,069
Inside: A pavered and landscaped footpath leads past a koi pond and through an arched portico to reach the front door.
Beyond the entry, a modern foyer clad in marble flows directly into the step-down living room with a fireplace. Picture windows enclose the far wall of the living room, opening the space to garden views. A slightly sunken wet bar is concealed on the far side of the room while steps near the fireplace lead up to reach a smaller den.
Underlit cabinetry and a broad island are among eye-catching details in the kitchen — particularly at night. Equipped with commercial-grade appliances, the kitchen area is flanked on one side by bi-folding doors that open to the patio. A formal dining room sits off the kitchen while a family room with a fireplace shares the common area. A separate game room has a bar.
The primary suite — one of five bedrooms and six bathrooms — expands to include a separate sitting room with floor-to-ceiling windows oriented towards mountain and canyon views. A two-way fireplace is shared by the bedroom and sitting room.
Outdoor living space: Accessed through the common area or a side entrance, the backyard unfolds in layers. A wide pool deck with room for al fresco dining sits above a custom swimming pool. Next to the pool is a contemporary gazebo designed in keeping with the home’s architectural style. Sweeping canyon and city views sit in the backdrop.
Contact: Bjorn Farrugia and Alphonso Lascano, Hilton & Hyland
Lenox Hill, Manhattan, N.Y. | $9.88 million
The Lenox Hill neighborhood of Manhattan, located near Central Park, blends generations with a mix of elegant townhouses and brownstones, historic pre-war buildings and luxury apartments.
A close proximity to Central Park, upscale restaurants and cultural institutions such as the Met and Whitney Museum are draws for some district residences. The area is also in close proximity to Rockefeller University and Hunter College, making it popular among college students, as well as the renowned Lenox Hill Hospital.
This turn-of-the-century townhome offers no shortage of living space with a bright, four-story interior as well as a 102.5-foot lot that is among the deepest in Manhattan. A private parking garage and possible development opportunities (see: unused air rights) provide a unique level of flexibility.
Size: 5,000 square feet
Price per square foot: $1,976
Inside: Gated front the street, the townhouse strikes a dramatic pose on the main level, as double-height ceilings soar to nearly 21 feet in the step-down living room. Oversized windows underscore the vaulted space, while bringing natural light into the room. White gallery walls punctuated by bright art pieces bookend the space.
A staircase near the entry leads up to the second-story kitchen and dining room, which overlook the living room. The kitchen is outfitted with a large stone island, custom cabinetry and two corner banquets for flexible seating. There’s also a temperature-controlled wine fridge.
A total of four bedrooms occupy the upper floors and include a primary bedroom with a south-facing terrace that overlooks the home’s garden patio. The adjoining primary bathroom has a soaking tub, two sinks and built-ins.
Outdoor living space: The garden patio, which can be accessed through the living room, extends 40 feet and is enclosed by vine-covered brick walls. Brick planters with small hedges ring the patio’s sitting area, which holds a barbecue. A step-up dining patio and fountain feature sit at the rear.
Contact: Jason Haber, Warburg Realty