As the carnival in Venice drew to a close this week, Sotheby's International Realty announced the opening of a show apartment at Palazzo Molin del Cuoridoro.The conversion of the 15th-century Gothic palazzo into 18 flats has caused much excitement in the property world.
The rather strict heritage and planning laws in Venice mean that it is rare for a whole building to be renovated in this way. Usually, the options are limited to buying a whole building - which is out of the price range of most buyers - or a flat in a building that has been converted but where the communal areas may be rather neglected.
Not so with Palazzo Molin. The private equity firm Patron Capital hired the Milanese interiors company Culti to advise on the redesign. The result combines classic Venetian architecture with contemporary design and facilities such as sound insulation and air conditioning.
Palazzo Molin is in the heart of the San Marco area - the preferred location for international buyers. It is a two-minute walk from St Mark's Square and around the corner from the historic opera house La Fenice.The building is bordered on two sides by canals, and two water gates provide superb access to the city's waterways. A private water taxi is available on request.
Each of the 18 apartments inside the four-storey building is different but throughout ceilings are high and large windows let in the light reflected off the water.
Communal areas include an entrance way and a large secluded courtyard. Architectural features include four mullioned windows and stone balconies. Prices range from €735,000 (Dh3.6 million) for the smallest, one-bedroom flat up to €5.5m for the four-bedroom pad.
Building work is expected to finish later this year, meaning that when next year's carnival rolls round, the new tenants will be in the enviable position of being able to host a masked ball in a palazzo of their very own.
