A rare piece of real estate is up for sale. The Mondsee or Moon Lake is one of the last privately-owned lakes in Austria and enjoys a secluded location in the mountains of the Salzkammergut region near Salzburg,. The small lake is a little less than a mile wide and close to seven miles long. The owner Nicolette Waechter is ready to sell the property which has belonged to her family since the 18th century. She receives rental income from those who rent out each piece of land, bankside or pier. She grew tired of the amount of work required to manage the land and called the Austrian Federal Forestry Service, which owns many lakes in the country. They made an offer to manage the lake for her for free for two years and before making an offer to buy. She has refused that offer but has many others to consider. Rumors put the potential price of the lake at about 16 million euros.

[Thanks, Lana]

Around two years ago I first brought you the story of The Shire, a Hobbit-themed development in Bend, Oregon. But two years ago there was no real estate crisis and now The Shire is facing foreclosure. The Bend Bulletin reports that the notice of default was recorded last week in the Deschutes County Clerk's Office on the 31-lot development. The original developr Ron Meyers sold his share in the development to Dr. Lynn B. McDonald and his wife Jan. They had taken full ownership in May but Dr. McDonald died July 7 and Jan McDonald is trying to sell off the 14 developed lots before the public auction of the six-acre property on December 2. The default notice says the family owes Umpqua Bank $3.4 million on the project.

The project includes stonework, artificial thatched roofs, and a network of gardens and streams with a pathway leading to a central courtyard. It as gotten plenty of media attention but just one home has sold for $650,000 since the project broke ground in fall 2006. Another, the Butterfly Cottage shown above, is listed at $899,000. It overlooks an amphitheater and has modern touches including bamboo flooring, a Japanese soaking tub and granite countertops. There is also a "hobbit hole" in the backyard for storing garden supplies.

The project seems to have gotten plenty of people stopping by to look but not many people buying. It's unclear what will happen to the Tolkeinesque theme of the development when new investors take over.

[via Gawker]

If the current real estate trend keeps going, I just might have to start doing a real estate auction of the day. For now though let me just direct you to today's auction of the Palazzo Condominiums in Panama City Beach, Florida. The seven-month-old condos are located on Front Beach Road facing the Gulf of Mexico. There are 129 units in the building and 67 units will be up for sale today with 27 that will be sold absolute.

The building has a fitness center, tropical pool, conference room and covered gulf side parking. The units include crown molding, and granite kitchen countertops, new appliances, garden tub and separate showers in all units and ceiling fans in living areas and master bedroom suites. To bid on a one-bedroom unit a check for $15,000 is required, two bedrooms require a $25,000 check and three bedrooms, a $35,000 initial investment. Those not in the area can also bid online this morning.

[via WJHG]

Last week , I mentioned a condo auction in Anaheim, California now here comes another Southern California auction. On August 24 at the Hilton Long Beach, 39 condos at West Ocean Two ill be auctioned by Citi Property Investors as part of the tower's grand opening. The condos on Ocean Boulevard in downtown Long Beach are located in a high-rise that includes a large lobby, concierge service, exercise studio, swimming pool, media/club room, wine storage room, game room, guest suite, outdoor entertaining area and more. The starting bid for nine one-bedroom residences will be $275,000, the 25 two-bedrooms will have a $350,000 starting bid, and five three-bedrooms will start at $795,000. As Curbed LA reveals, condo documentation for the auction says that the one bedrooms were previously listed at $534,000 which seem fairly inflated.

[via Long Beach Press-Telegram]

Louis Vuitton designer Marc Jacobs will open a boutique for his signature collection at the lavish Elysian Hotel development in Chicago (right) early in 2009. Jacobs' quirky, so-hip-it-hurts clothing is revered by celebs like Victoria Beckham, who starred in his ad campaign.

Jacobs has inked a ten-year lease on the 2,700-sq.-ft. space, which will be located in the development's Beaux Arts-style retail courtyard. The designer already has a boutique for his bridge line, Marc by Marc Jacobs, in the Windy City.

The 60-story edifice designed by architect Lucien Lagrange, is being billed as "a throwback to the grand hotels of the 1920's with the modern conveniences of today." It features 188 guest suites starting at $600,000, 51 private residences which start at $3 million, and a restaurant by famed chef Charlie Trotter.

Another week, another condo auction. This weekend, buyers lined up in Anaheim, California for a chance to bid on 58 deeply discounted Stadium Lofts condos. Potentials buyers could save between 24 percent and 29 percent on the condos which are located near the Angels Stadium. The OC Register reports that by Saturday afternoon, developer Windstar Communities LLC had received $5,000 deposits from each person for 48 condos.

The condo project has 390 units total but the developers had some trouble selling them so they decided to put the 58 units that had attracted the least attention from buyers up for auction. A 1,082-square-foot two-bedroom, two-bath condo went for about $350,000 which is approximately 25 percent off or a savings of $114,300 off the original listing price.

In Kuwait's plans for Silk City (Madinat Al Hareer), no one will ever be more than three blocks from water or gardens. A vast National Wildlife Refuge is in the works. And medical treatment along with fresh, healthy food will be accessible on foot for 80% of residents. The centerpiece of the hugely ambitious project will be the tallest building in the world, the Mubarak al Kabir Tower, at 200 stories and comprised of seven distinct "vertical neighborhoods." (Fun fact: the tower will reach to 1,001 meters, an imposing physical reference to the Arabian Nights tale.) Add to that the four main quadrants of the city: Finance City, Leisure City (I'm totally moving there), Culture City and Ecologic City, and what is ostensibly an architectural feat becomes an experiment in crafting entire ways of life. With government investment of $132 billion, London-based design firm CivicArts/Eric R. Kuhne are ready to break ground ... and continue its labors until the estimated date of completion for Silk City, 2023.

Investors in the project state that their hopes to renew Kuwait's cultural influence are highly motivational, and the idea is based on the crucial links established over a thousand years ago when Kuwait was a center on the silk trade routes. Now planning to link itself with cities like Damascus and Baghdad, stretching ultimately all the way to China, Kuwait intends to reestablish its connectivity in more than just symbolic measure.

Clearly imitative of nearby architectural playgrounds like Dubai and Abu Dhabi, Silk City and all its outrageous goals does come off feeling a bit more commercial than its underlying motives might imply. They're tossing around terms like the "Arabian Riviera" and plan to incorporate such enclaves as "Film City" and multiple "pleasure facilities." Maybe it's that the intentions aren't just outrageous but highly-regimented. The planners are busy designing 28 different "lifestyle zones" specifically branded by interest (sports, film, media, etc.). While all the bells and whistles sound pretty awesome (in the true sense of the word) the overly manufactured quality of every detail -- especially the neighborhoods, oops "lifestyle zones," which force homogeneity not diversity -- make this huge community appear rather disconnected after all.

I guess we'll have to reevaluate in 2023. But judging from a fairly recent visit to Dubai, a model of speedy construction and ambitious contemporary architecture, I'd be willing to bet Silk City is operational much before then. Those oil prices don't hurt the timeline, either.

Versace has another high profile design job in New York City. The luxury brand which furnished apartments in the Plaza last year will also will design the interior renovation of New York's Clock Tower building on Madison Avenue. The New York landmark was bought by Lev Leviev's Africa Israel company for $200 million last year and has said they will spend two years and around $110 million renovating the complex. The end result will be 55 units including a large penthouse, a spa and an exclusive club. Previous Versace designs have been rendered in black and white with lavish gold details but their recent furniture show in April, shown in the gallery below, revealed a softer side.

All of Los Angeles is buzzing over the news of Candy Spelling's big real estate move. The 62-year-old wife of the late Aaron Spelling is planning to move out of her mansion, a 123-room, 56,500-square-foot mansion on six acres in the Holmby Hills area, and into a condo. But don't feel too sorry for Candy, while her new home will be less than a third the size of the old one, it is still a whopping 16,500 square feet and sits atop The Century building which is being built next door to the Century Plaza Hotel on Avenue of the Stars. The condo will have 360-degree views of the city all the way to the ocean.

Spellings new condo went for $2,848 per square foot which works out to an astounding $47 million, a record for a Los Angeles condo. The LA Times has a few details of Candy's new two-story pad. The lower floor will include a living room with two working fireplaces, a dining room for 25 guests, and staff quarters while the top floor will be home to the bedrooms, a massage room, exercise room, conservatory with rose garden, swimming pool and a deck. The master suite alone is 4,000 square feet. She will move in next year which means that the Spelling mansion may soon be on the market. Rumors of offers have been swirling for a while but we could even see a listing now unless it sells quickly and privately to someone willing to spend around $150 million for a home with a bowling alley and a gift wrapping room among its many luxuries.

Financial whiz turned "lifestyle designer" Richard Nilsson apparently felt that plain old luxury had lost its luster, so he decided to focus on "extreme luxury." When he was running a business empire Nilsson was only able to take one week off per year, so for his first project he came up with the "Résidence Supérieur" concept as an ultimate retreat where vacationing moguls and movie stars could pack as much luxury and privacy into their vacation as possible, cost be damned.

The first RS is the Villa Oxygene in Cannes on the French Riviera. In addition to ultra-luxe surroundings, it includes exotic sports cars, a private jet and helicopter, yacht, butler, chef, bodyguards and basically anything else you could wish for. Desperate Housewives star Eva Longoria recently shot an ice cream commercial there, and Nilsson is now planning other equally outrageous outposts. See the gallery for pix.

Auction company Sheldon Good is at it again, this time in Alabama selling off 35 condos in the San Carlos condominium project on the Gulf Coast. The condos are two and three bedroom units, 15 of which were priced to sell at nearly $850,000 and will have suggested opening bids of $200,000. The area is also in the GO Zone, which means the units are eligible for certain tax incentives designed to spur growth in the hurricane-devastated region. The building is a 20-story, high-rise building fronting the beach. It was built in 2006 and there are nine units per floor. The building includes a beachfront outdoor pool, fitness room with sauna and a banquet room.

The auction will take place Aug. 17 at the Renaissance Riverview Plaza Hotel in Mobile, Alabama at noon. Open houses are currently available Wednesday through Sunday in the afternoons.

[via Birmingham Business Journal]

There are many creative ways to sell condos in these desperate times. I've seen developers offer up free cars, trips, bottles of wine, resale guarantees and yes, I've seen plenty of contests but this is the first one I've seen with a spokesmodel. A developer in Canton, Massachusetts has had some trouble selling their Canton Park condo complex so they are giving away one in a $50-per-entry contest with YouTube videos hosted by the lovely Gisele Sterling in a bikini.

The unit is worth $235,000 and to win the free condo, you'll have to submit the best written essay or YouTube video on one of four topics: why you are Boston's biggest sports fan, your most embarrassing moment, what super power you wish you had, or a showcase of your or your pet's unique talents. The contest hopes not only to get rid of one unit but hopefully to attract attention to the complex so others sell too. It got my attention. Entrants have until September 30 to enter the contest.

[via Boston Herald]

The Sapphire Tower condominium project in downtown San Diego takes a unique approach to attracting attention by using public art. While most public art is at the base of a structure, the Sapphire Tower's Borgonovo sculpture will stretch 80 feet from tip to tail. The design from artist Betsy Schulz is a modern metal and glass structure with two different textured glass colors set as the shimmering gemstones. Borgonovo will be made of two-tiered mesh, aluminum panels, textured and laminated blue and clear glass, and blue-LED string lights to illuminate the glass at night. Borgonovo is one of two major art pieces being installed at Sapphire Tower both designed by Schultz and costing just under a half a million dollars total.

Sapphire Tower is a 32-story project located on the southwest corner of Kettner Boulevard and A Street in downtown San Diego. The project will include 97 units in one and two bedroom, loft and penthouse layouts. Building amenities include a pool, hot tub, sundeck and gym. The building is set to be finished by the end of the year and prices start in the $600,00s with penthouses starting at $2.5 million.

The historic Oak Bay Beach Hotel in Victoria, Canada is becoming the first combined luxury hotel and private residence in Victoria. The 100-room hotel will have 20 full-ownership suites that will open in the fall of 2010, just in time for the Winter Olympics in Vancouver. Walker Hospitality opened registration to buyers who may be interested. The Walkers plan to restore the hotel's luxury by including the lobby fireplace, Tudor facade and even the original Snug Pub beer mug. The development also calls for modern interior updates and a touch of green, the project is aiming for LEED Gold certification. The residential suites are penthouse and sub-penthouse units with views of the Pacific and the San Juan Islands. They range in size from 857 sq. ft. to 2,285 sq. ft. and prices start at $1 million.

Another big residential project has hit the skids and this one's a biggie. The Lumiere tower in Leeds, England was set to be tallest residential tower in Western Europe. Now plans for the £225m development and its 992 units are on hold, ostensibly until the market gets a little better and the economy is stronger. The project was halted after the foundations were finished and the developer plans to pick up where they left off once conditions improve. The developer says this could be as early as November but I bet it could be a bit longer than that.