Provenance and pedigree meet comfort and contemporary conveniences on this breathtaking and very private 4.5-acre grand Montecito estate, currently being showcased in the Wall Street Journal “Behind the Listing” section. The Mediterranean home, lovely guesthouse and vintage pool house rest on the grounds of historic El Mirador. There is a special, rarefied quality here, yet the ambiance evokes a sort of joie de vivre. Impeccably landscaped gardens, expansive manicured lawns and hedges, a pond, pergolas, terraces, and a large pool provide space and amenities for extensive entertaining and celebrations.
The primary residence, though substantial, offers an air of intimacy, warmth, and calm abiding, thanks to liberal use of warm woods in floors, masterfully crafted cabinetry and paneling. Those accoutrements are complemented by vast open-beam and truss, barrel- and groin-vaulted ceilings and an abundance of French doors and windows. The result is a singular home imbued with a profusion of spaciousness and light.
Rooms are large yet somehow intimate. The formal living room, for example, at over 1,000 square feet, feels friendly and comfortable thanks to its substantial fireplace, large cove windows, and its French doors opening to one of several terraces, and beyond to impeccably maintained grounds. The family room, library, office, loggia and grand foyer grace the home’s entrance level as well. The formal dining room — comfortably seating a dozen or more in style — as well as the large chef’s kitchen and adjacent informal dining area, create a culinary center perfect for entertaining friends or large and extended family.
The home’s four bedrooms all host baths en suite. The nearly 600 square-foot master suite could uphold the title “regal” with its impressive fireplace, arched French doors to its private balcony, pair of large walk-in closets, and two luxurious bathrooms. A second primary bedroom suite also has a fireplace, as well as a pair of intimate balconies.
Even the most discerning guests at this grand Montecito estate will feel at home in the substantial 3-bedroom, 2-bath guest house. Its upper level hosts a large living room, bedroom and bath, while the entry level features a den, kitchen and dining area, two bedrooms and an additional bath.
The Adobe, a structure well-preserved from the original El Mirador estate, has been expertly restored to maintain the ambiance of yesteryear while incorporating today’s comforts and amenities. It provides 2 bedrooms, 2 baths, a kitchen, and a wonderful over 40-foot-long living room. On one side it opens to an expansive vine-covered veranda, running the entire length of the adobe and overlooking the lighted tennis court. On the other side, the living room opens to the estate’s glistening swimming pool.
It is to be expected of any grand Montecito estate of this stature that its grounds would be as magnificent as its structures. Palmyra is no exception. Elegant entry gates open to a serpentine driveway lined with tall hedges and mature trees. There are rolling lawns, impeccably-trimmed privets, tropical and native flora, citrus trees, flower gardens, a lagoon, pergolas and fountains.
Adjacent to acclaimed Lotusland, this magical Montecito estate represents the epitome of class, prestige, and the comfortable luxury and sophistication for which Montecito is world-renowned.
Introducing Regent’s Crescent, a London real estate redevelopment that’s an amalgamation of the city’s rich history and modern conveniences officially launched sales earlier this week. Designed in the 1800s by a Famed Architect John Nash and known as Regent’s Crescent, the development comprises an entire terrace row on Park Crescent, right on the edge of the capital’s leafy Regent’s Park.
The terrace is Grade I-listed—the rarest historic architectural designation in England—and was designed by John Nash in 1820. Following the completion of its redevelopment next year by CIT Group, it will be home to 67 new apartments and nine villas, according to a news release.
Sales have quietly been taking place off market for around a year with 25% of inventory sold, according to a spokeswoman for CIT. The remaining homes are now fully on the market.
Despite the addition of brand new residences, the development remains listed due to its retention of the original listed Nash-designed facade. The construction work has also repaired wartime bomb damage to restore “the truest version” of Nash’s work, the release said.
The famed British architect of the Regency and Georgian eras is responsible for some of the U.K.’s grandest designs, such as Buckingham Palace, Marble Arch and Brighton’s Royal Pavilion.
In Nash style, the building will have Regency-inspired features such as fanlights, chimney stacks and an 18th century ice well that was discovered on site and has been preserved.
In the residences, which will be priced from £2.9 million (US$3.7 million), materials such as herringbone timber flooring, marble and plaster mouldings feature throughout.
“Regent’s Crescent is a remarkable scheme that we are proud to be working on,” Its unique combination of enchanting and historical importance, outstanding original design, unsurpassed new build quality and remarkable location make it a very rare and special offering for the capital.”
Residents will also have access to amenities including a spa, a swimming pool, a private cinema, underground parking, 24-hour concierge and security and access to private residents’ gardens.
In Ontario, a couple we’ll call Matt, 54, and Hillary, 50, make a good living, Matt in financial services, Hillary in a large service organization. They have a daughter in her 20s who is financially independent. Matt and Hillary bring home $9,892 per month and have prospered by trading up in the prolonged real-estate boom. A semi-detached house purchased a decade-and-a-half ago tripled in value in their downtown market. They now have a $1 million home, a $560,000 investment property, $204,000 of RRSPs, $4,800 in TFSAs and two cars, with an estimated total value of $21,800. For a couple who came to Canada 18 years ago, prosperity is a sign of their achievements.
But their financial picture is not all perfect. They owe $689,000 in mortgages, $25,000 on an investment loan for a poorly performing mutual fund, $17,827 for a car loan and $6,000 on a line of credit. This leaves them with a net worth of $1,057,273, about 82 per cent of which is tied up in real estate.
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