Pebble Beach

September 30, 2008

“Pebble Beach”  (2008), acrylics on canvas, 20″ x 16″

Click on the image for a better view.

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The Russians Keep Buying

September 30, 2008

The Russian oligarchs are becoming the Roman nobility of our generation. They just can’t seem to stop buying stuff — and always the most expensive.  We’ve seen them gobble up art (and skew the markets) and Mediterranean houses (and skew the markets).   They are the primary buyers of mega-yachts, no doubt skewing those markets upwards also.

Well, it seems they are doing the same thing at home.  A seven-storey townhouse condo near the Kremlin in Moscow has been purchased for $99 million, or 2.5 billion rubles.

Property agency Agent 002 said last Friday an unnamed buyer had splashed out on the seven-storey 1,300 square meter apartment near the Kursk railway station. “For Moscow, it’s an absolute record,” said Agent 002’s spokesman Ruslan Barabash. Barabash declined to identify the purchaser, but said he was an “active businessman” aged around 40 and not one of Russia’s most well-known tycoons.

“It’s a completely beautiful home. The design is in the ‘high-tech’ style,” said Barabash. The townhouse apartment, close to the Kremlin in the center of a sprawling city of 12 million people, has its own swimming pool, a children’s floor and a winter garden on the roof …

Real estate analysts believe the current record could soon be broken, with demand strong at the top of the market. “I think this is price of 2.5 billion roubles is not the limit for Moscow and in the near future there may be even more expensive sales,” said property analyst Tatiana Makeeva.

Crazy times all over!