Hot Sales in the City - The Holy City Scorecard Sept. & Oct. ‘07

This latest version of Charleston’s most expensive residential real estate closings covers September and October 2007. From the rustic charm of Rockville to the classic sophistication of South of Broad to the new money of Daniel Island, these homes cover the map.Our numbers are mustered from various sources, Square Feet does not guarantee accuracy for the Top 10 list, only something worth your gander – over $2.2 million, that is. Check out the archives for some other big house sales from months past.

1. 108 Ocean Boulevard - $4.5 millions sets the bar high this month for this new construction beach home with more than 5,800 sf, a 2-acre lot, and the ubiquitous swimming pool. Locale: Isle of Palms. The Toll: $4.50M.
2. 106 Murray Boulevard – This former Symphony showhouse offers dramatic views of the harbor and even the Coast Guard station, if you are into that sort of thing. Locale: Downtown Peninsula – South of Broad. The Toll: $3.05M.
3. 3602 Palm Boulevard – Great oceanfront location for this 16-year old beach house. The view must make up for its apparent lack of charm on the exterior. Locale: Isle of Palms. The Toll: $2.995M.
4. 616 Cattle Street – 6,000 sf Georgian style brick 5 bedroom makes this one of the highest priced homes on this nationally-recognized development complete with two golf courses. Locale: Daniel Island. The Toll: $2.9M.
5. 44 Ocean Point – Offers one of the best views from this Isle of Palms home with vistas overlooking the 18^th hole at The Links Course and the Atlantic Ocean. Locale: Sullivan’s Island. The Toll: $2.5M.
6. 362 Schweers Lane – This street is tucked away in the historic Old Village of Mount Pleasant. 40-year old house with harbor frontage and your own dock and boat lift. Locale: Mount Pleasant – Old Village. Toll: 2.475M.
7. 7122 Maybank Highway – Truly one of the nicest country settings and a classic 1832 house set this property apart. Locale: Rockville. The Toll: $2.45M.
8. 5 52^nd Avenue – Circa 2000, this custom 4 bedroom beach house is solidly built, but still on the third row back from the beach… Locale: Isle of Palms. The Toll: $2.4M.
9. 95 Riverland Drive – A rare sale in this older, eclectic neighborhood on James Island. Locale: James Island. Toll: 2.25M.
10. 49 Church Street – A 1790’s charmer between Tradd and Water Street. Locale: Downtown Peninsula – South of Broad. The Toll: $2.25M.

It’s Not All Shrimp & Grits…Charleston Garners Third Best City in America

New York, San Francisco, and, yes, Charleston take the prize in the 2007 Readers Poll by Conde Nast Traveler. Conde Nast contends that Charleston provides a new offering of adventurous chefs, interesting sights among the historic treasures, seafood dives, and the genteel charm most think has been lost in the Deep South.

And it’s not just the City, but five local establishments landed in the top 100 best places to lay your head for the night: Charleston Place, Market Pavilion, Wentworth Mansion, Woodlands Resort & Inn, and the John Rutledge Inn.

Come for the weekend (just not in July and August) and you may end up staying for good.

The Great Fishpond Brings in the Buyers in August ‘07- Holy City Scorecard

It appears that beach houses on the Isle of Palms and Sullivan’s Island led the wave of expensive sales in August in the Charleston area. And with the end of hurricane season in sight and the recent move by the Federal Reserve to drop rates by 50 basis points - Mr. Boehly’s estimated monthly mortgage payment on the top August transaction dropped below $30,000 – of course that’s only with a 10% down payment. Since the numbers are mustered from various sources, SquareFeet does not guarantee accuracy for the Top 10 list, only something worth your gander – over $2.3 million, that is. Check out the archives for the previous months’ big house sales.

1. 2251 Atlantic Avenue – This 4,300 oceanfront home set a record for Sullivan’s Island as New York businessman Todd Boehly stepped up to the plate and broke the previous record of $4.7 on the tony Lowcountry isle. Locale: Sullivan’s Island. The Toll: $4.72M.
2. 705 Palm Boulevard – Access to your own deepwater dock and infinity pool overlooking the marsh does not come cheap in these parts – and you also get 5,000 sf of new construction in this 5 bedroom contemporary. Locale: Isle of Palms. The Toll: $4.5M.
3. 7839 Doar Road – Intracoastal Waterway 4,900 sf house on 15 acres in Awendaw secures a tie for second place this month. Yes, Awendaw – that’s about 20 miles north of the City of Charleston in what most would consider ‘the country.’ Locale: Awendaw. The Toll: $4.5M.
4. 2302 Raven Drive – 6,240 sf, 2002 marshfront beach cottage. Water? Yes, you can see the water - but no, you can’t get to it from here. Locale: Sullivan’s Island. The Toll: $3.3M.
5. 9 2nd Avenue – 3,500 sf luxuriously appointed beach house – near the beach anyway. Locale: Isle of Palms. Toll: 3.295M.
6. 1914 Middle Street – 4,150 sf new construction beach house in one of the most costly zip codes in the country. Locale: Sullivan’s Island. The Toll: $3.05M.
7. 5 Beachwood E – 1984 3,554 sf beach house with ocean views. Locale: Isle of Palms. The Toll: $2.7M.
8. 2405 Palm Boulevard – 4,200 sf Island style house built in 2006 . Locale: Sullivan’s Island. Toll: 2.55M.
9. 3006 Cameron Boulevard – If a 30’ lighthouse-style foyer is your cup of tea, then you missed out on this 4,500 sf beach home with an ‘almost’ unobstructed view of the ocean. Locale: Isle of Palms. The Toll: $2.55M.
10. 116 South Battery – Totally renovated 1925 3,400 sf home located in South of Broad. Locale: Downtown Peninsula. The Toll: $2.3M.

Hammer to Fall on Historic Charleston Plantation –- 310-year Old Home Can Be Yours.

Now is your chance to own one of the oldest homes in America and a 326-acre plantation located in Charleston, South Carolina. Middleburg Plantation has been put on the auction block by its preservation minded owners – Max and Jane Hill of Charleston – and the hammer is set to fall on October 30, 2007.

Having been a visitor to the property on several occasions, I can attest to the beauty and desirability of the property. The two-story plantation house is one of the oldest in the state and has been preserved by its current owners. No less stately are the grounds and gardens. It will take deep pockets and a preservation-minded steward to purchase this Lowcountry gem. Still interested? Check out J.L. Todd Auction Company for details.

Will Buyers Recede at The Tides?

 

Mount Pleasant’s newest luxury condominium development on the banks of the Cooper River, The Tides, is finally nearing completion on the Charleston waterfront. The question remains to be seen if the flood of buyers and investors so eager to write contracts a few years ago will step up to the plate and close on their new residences today.

According to Charleston’s Post and Courier, principal David Sidbury indicated they had several closings in July and no one had cancelled their contracts. Scuttle on the street appears to have a different take as real estate professionals speculate about the potential fallout. While a rising tide floats all boats, here’s to hoping The Tides’ early sales success was mostly based on their location, view, and quality construction – attributes which stay constant and on course in Charleston’s real estate marketplace.

Holy City Scorecard - July ‘07 Luxury Property Sales in Charleston

Now that July is over, the summer is just heating up in the Lowcountry and we’ve got the top 10 sales in Charleston for the month. If you missed May and June’s report, just follow the links. Since the numbers are mustered from various sources, SquareFeet does not guarantee accuracy, only something worth your gander – over $1.9 million, that is.

1. 266 St. Margaret Street – Lowndes Grove Plantation – One of the most significant homes on the Charleston peninsula, Lowndes Grove, has been sold to Patrick Properties who plan on continuing throwing shindigs at the riverfront estate. Locale: Downtown Peninsula. The Toll: $6.5M.
2. 78 Church Street – Dubose Heyward House, circa 1785 – yes, that’s the 18^th century. This house has seen the likes of George Washington, George and Ira Gershwin, and was the home of the author of Porgy and Bess. Good luck on making any exterior changes to this home. Locale: Downtown Peninsula. The Toll: $3.6M.
3. 1908 Middle Street – New 3,900 beach house on quaint Sullivan’s Island – close enough to walk home from Poe’s or Bert’s Bar. Locale: Sullivan’s Island. The Toll: $3.M.
4. 2104 Palm Boulevard – 3,100 sf, 1970-vintage oceanfront beach cottage, purchased just in time for Hurricane season. Locale: Isle of Palms. The Toll: $2.55M.
5. 2001 Purcell Lane – 4,912 sf new construction Victorian in this master-planned community featuring two golf courses and the home of the Family Circle Cup Tennis Tournament. Locale: Daniel Island. Toll: 2.3M.
6. 45 Hasell Street – 1855 mixed-use building at the corner of Anson and Hasell with a nice, urban loft-like residence. Let’s hope for a new gallery on the ground floor. Locale: Downtown Peninsula. The Toll: $2.25M.
7. 4007 Palm Boulevard – 1984 3,000 sf beach house. Classic 1980’s architecture. Locale: Isle of Palms. The Toll: $2.2M.
8. 612 Cattle Street – 4,275 sf New England-style home in Danile Island. They haven’t seen cattle here for some time, just a stampede of buyers over the past 10 years. Locale: Daniel Island. Toll: 2.075M.
9. 2 Zig Zag Alley – ‘Quaint’ 2,920 sf house on a secluded street, built in 1880 – so not much on functionality. Locale: Downtown Peninsula. The Toll: $1.9M.
10. 36 Prioleau Street – Second floor unit (2,262 sf) in the sought-after One Vendue Range where the better units still sell before they hit the market – even in today’s market. Locale: Downtown Peninsula. The Toll: $1.9M.

Till next time, don’t fear the subprime.

A Bridge Too Far? Not for this Gateway to West Ashley and Charleston.

With the proposed changes to the North Bridge, a revitalization of the City of Charleston’s plan to improve Sam Rittenberg Boulevard and its pedestrian orientation, and a new public park on the Ashley River, a North Carolina developer has recently purchased a 1.25 acre site near the bridge with spectacular views up and down the river for $1.5 million.

Representatives from Oakmont Realty Advisors are working with a local architecture firm to design 24 luxury river view condominium residences (The Mackinaw) that will feature custom, gourmet kitchens, detailed millwork, open floorplans and expansive views of the downtown skyline, the Arthur Ravenel Jr. Bridge and the sunsets along the Ashley River. With relatively little competition in the immediate area for luxury, new-home residences and quick access to downtown and I-26, this may prove to be one of the hot properties next year.

Oakmont suggests construction will begin in early 2008 - - of course, final design approval from the City, never an easy task, will have to be garnered first. The price tag? Sounds like $500K-$900K each. Oakmont has promised to provide us the floorplans when ready – stay tuned for the first look.

Holy City Scorecard - June ‘07 Luxury Property Sales in Charleston

Following on the footsteps of our introduction of the Holy City Scorecard last month, here’s the next installment. Since the numbers are mustered from various sources, SquareFeet does not guarantee accuracy, only something worth your gander – over $2 million, that is.

1. 21 King Street - The Patrick O’Donnell House circa 1852 – A grand 9,700 sf Charleston Single big enough for a king – or the owner of the Boston Celtics. Locale: Downtown Peninsula. The Toll: $7.2M.
2. 19 Legare Street – Circa 1802, 4 BR, 5,200 sf downtown charmer in the thick of things. Locale: Downtown Peninsula. The Toll: $4.575M.
3. 17 Legare Street – The Toomer-Purse House hails from 1797 (yes, that’s 210 years ago) and boasts Anthony Toomer – Charles Towne’s Master Builder - as its general contractor. Wonder if he still provides a warranty. Locale: Downtown Peninsula. The Toll: $3.955M.
4. 2624 Bayonne Avenue - New 5,142 sf oceanview home sports 4 bedrooms and a swimming pool. Locale: Sullivan’s Island. The Toll: $3.72M.
5. 41 Meeting Street - The Joseph Maybank House - only 101 years old – features 6 BR and 6,635 sf. Locale: Downtown Peninsula. The Toll: $3.415M.
6. 101 New Street - 4,130 sf waterfront 5 BR home overlooking Charleston and Fort Sumter – man the cannons and raise the flag! Locale: Historic Old Village in Mt. Pleasant. The Toll: $3.25M.
7. 17 Meeting Street - Recently renovated 5,396 sf Charleston Single built in 1760. Locale: Downtown Peninsula. The Toll: $3.187M.
8. 54 Tradd Street – The William Vandorhorst House and hails from 1740. 5 BR and they threw in the walled garden for the price. Locale: Downtown Peninsula. The Toll: $3.175M.
9. 3031 Ion Avenue – Stunning, new 5,200 beach house with 5 bedrooms and a pool. Sold for $550K less than asking price – ouch! Locale: Sullivan’s Island. The Toll: $2.825M.
10. 1757 Atlantic Avenue - 4,000 sf new beach home with private walk to the ocean. Locale: Sullivan’s Island. The Toll: $2.7M.

22.5-Acre Parcel Seen as Charleston’s Next Gathering Place

JL Woode, Ltd., a local real estate investment & development firm, just purchased a 22.5-acre property on Maybank Highway and is envisioning a high quality, mixed-use development on this well-located infill site within the City.

The property, under contract since 2006, has been rezoned to ‘Gathering Place‘ — which provides for a mix of uses, including residential, retail, and commercial, in important locations within the city where new civic centers and gathering places can be created. Located adjacent to the James Island Shopping Center (known for the Piggly Wiggly!) and steps away from The Country Club of Charleston, this site is surely the most strategically-located infill parcel in the area and, hopefully, will be developed into a thriving area for quality shopping, living and working that will enhance and complement the James Island area.

The property, previously owned by National Healthcare Corporation of Murfreesboro, TN, is located near the intersection of Maybank Highway and Folly Road in the thriving area of James Island and offers convenient access to downtown Charleston and the Lowcountry beaches.

Places Real Estate (Chris Anderson) and Palmetto Commercial Properties represented the buyer in the sale.

We’ll keep you updated on what happens next with the property.  UPDATE:  Follow the link to CRBJ’s article on the property.

Celtics Owner Snags Charleston ‘Pied-a-Terre’

Boston Celtic’s owner and Tudor Investment Corp. executive Jim Pallotta recently purchased the 1850’s Patrick O’Donnell House at 21 King Street for a jaw-dropping $7.2 million. That may seem like a lot to us Lowcountry folk, but it pales in comparison to his new 27,000 sf home in Weston, Massachusetts - estimated to be approaching $22 million in construction costs. Pallotta, a 50-year old fund manager for Tudor, reportedly earns more than $200 million annually and was one of two buyers vying for the 9,700 sf, 7-bedroom house - further expanding the definition of a Charleston pied-a-terre.