Continuum on South Beach - Townhouses 2 & 3

The Difference between Custom and Spec Homes

Louis Paolino, a senior business executive with more than 35 years of experience, serves as the CEO of Paolino Development, a luxury real estate development and investment company based in Miami Beach, Florida. Over the years, Louis Paolino has added numerous types of assets to his company’s portfolio, including high-end speculative (spec) homes.

These homes are not built with a specific client in mind. Rather, builders construct them based on their belief that they can eventually find a buyer for the property. With this in mind, developers usually design spec homes with a broad appeal. This increases the chances that the home will sell for a profit. 

Further, builders have primary control of the floor plan and overall aesthetic of a spec home. Still, buyers get some say in the materials, paint, and tiles used if they purchase the property early in its construction. This gives the house a semi-custom feel. If no one buys it during its development, builders instead sell it as a completed, ready-to-move-in home.

In contrast, custom homes offer people the greatest amount of flexibility when it comes to creating the house of their dreams. These one-of-a-kind residences are constructed on land that the buyer has already purchased, thus ensuring they have total control over the development of the property. Due to this, homebuyers have a say in nearly everything relating to the home, including its layout, building materials, number of rooms, and fixtures.

Since custom homes can be made to a buyer’s exact specifications, they are perfect for very detail-oriented individuals. All floor-plan modifications, exterior-material changes, or alterations in building materials must be approved by them first.

Using Cap Rate to Determine Commercial Property Value

An executive and real estate investor with more than 35 years of experience, Louis Paolino founded Paolino Development in 2008 to serve clients in the commercial and residential sectors. Working with properties in luxurious locations such as Miami and The Hamptons, Louis Paolino is an expert in high-end property development. 

Commercial real estate properties are those owned exclusively for business activity. In general, the value of a commercial property is determined by how much money it earns for the owner. A real estate developer commonly uses a cap rate to create a figure for the value of a commercial property. 

To calculate a cap rate, divide the net operating income of the business occupying the real estate by the asking price. Net operating income is determined by subtracting the annual expenses of property ownership from the rental received. Many professionals consider a cap rate between 4 and 10 percent to be an indication of a good investment.

Some Benefits of Going Public

For over 35 years, Louis Paolino has served as an executive and board member in various public and private companies. In this capacity, Louis Paolino knows the advantages of private companies going public.

There are many advantages of going public besides the injection of fresh capital through an initial public offering. One of them is liquidity. When a company’s shares are traded on the stock exchange, they become more liquid. This means shareholders such as early investors and founders can sell their stock easily, realizing a return on their investment. Alternatively, these shareholders can use their stock, now freely marketable securities, as collateral to acquire financing from lenders. 

The benefits of liquidity go beyond executive shareholders. Management and employees can receive compensation through incentives like stock options, allowing them to own marketable securities. Because the price of shares listed on the stock exchange is determined by the market every day, people who possess stock options are able to calculate their value whenever they wish. The company expands its payment options while employees diversify their wealth portfolios. In addition, employees become more invested in the company and its operations, since their wealth is directly tied to the company’s fortunes.

Properties Sold by Paolino Development

The chief executive officer of Paolino Development in Miami Beach, Florida, since 2008, Louis Paolino has more than 35 years of experience leading public and private companies. Louis Paolino has spent the last decade strategically developing and selling various properties throughout the United States, particularly in and around upstate New York.

The property sold at 104 Halsey Lane, located south of the Montauk Highway, is a 17,578-square-foot estate on 2.6 acres. The luxury home features 14 bedrooms and 17.5 bathrooms, a gourmet kitchen, a library, and a media room, among other living and entertainment spaces. In addition to its more eye-catching features, such as an all-weather tennis court and a heated gunite pool, the property at 104 Halsey is defined by an exquisite attention to detail, such as 100 percent copper plumbing with a three-quarter-foot valve system that allows for maximum water pressure.

Additional features range from a home gym to a wine cellar on the lower level. To learn more about Paolino Development property listings, please visit www.paolinodevelopmentny.com.

A Look at Paolino Development’s 1400 Meadow Lane

For more than three decades, Louis Paolino Jr. has spearheaded aggressive acquisition strategies and spurred corporate growth as the chief executive officer (CEO) and president of multiple companies. Louis Paolino Jr. now serves as the CEO of Paolino Development, where he focuses on luxury real estate development.

Headquartered in Miami Beach, Florida, Paolino Development directs the design, construction, development, and management of ultra-high-end real estate. One such property currently under construction is 1400 Meadow Lane, a residence situated in a prime oceanfront location on Southampton’s Billionaire’s Row.

The estate will feature approximately 11,000 square feet of living space, complete with a state-of-the-art kitchen with wine storage, seven bedrooms, and an infinity edge pool and spa. Moreover, the property offers amenities for entertaining that include an open-concept layout, a three-sided fireplace, a formal dining area, a parking lot for 16 vehicles, and a large oceanside deck. 

For additional information on 1400 Meadow Lane, and to view other Paolino Development properties, visit paolinodevelopmentny.com.

Paolino Development’s Upcoming 1400 Meadow Lane Estate

Real estate developer Louis Paolino has over 35 years’ experience building companies. With an office in Miami Beach, Florida, Louis Paolino is the CEO of Paolini Development. 

Paolino Development is currently developing a prime property on the oceanfront Meadow Lane address on Southampton’s Billionaire’s Row. The estate will sit on 2.6 acres of landscaped land right next to the beach. 

Upon completion, the property will encompass over 11,000 square feet and will rise to two floors. The first floor will have a grand master suite with baths, closets, and an office, plus six more bedroom suites. It will also have a 2,872-square-foot patio styled with Turkish marble overlooking a pool and the vast open sea. 

On the second floor will be a VIP suite, a modern kitchen with complimentary pantry, and a great room with a three-sided fireplace. It will also have a formal dining room and morning room. This floor will be made for entertainment with open living areas and direct access to a mahogany deck. Amenities will include a glass wine storage, theater, tennis court, and spacious garage parking. The property is also close to the Southampton Heliport.