Pacaso Expands International Presence with Penthouse Listing in London's Mayfair District
LONDON, March 24, 2022 /PRNewswire/ -- Pacaso, the technology-enabled real estate marketplace which helps people buy and co-own a luxury second home, today announced that it has expanded its service to the UK, with its first property available in London. Pacaso offers buyers the unique opportunity to co-own 1/8 to 1/2 of a luxury home. The company launched its first international destination in Marbella, Spain in late 2021 and now operates in more than 35 global destinations.
"Pacaso is thrilled to be launching in the UK which has been on our radar since we first launched in Europe last year" said Pacaso Global President Razor Suleman. "London is an international cultural and business hub, with world-class theatre, dining, and art. We've seen an incredible amount of demand already, and are excited to be able to offer people a new way to co-own a luxury home."
"Co-owning a home is a more responsible way to own a second home as it better utilizes existing property on the market," said Pacaso CEO and Co-Founder Austin Allison. "We are boosting sustainability in the second home real estate market by now helping families purchase and enjoy their homes that would otherwise be sitting empty a majority of the year. With Pacaso, homes have a nearly 90% occupancy rate."
The first Pacaso property available for co-ownership in London is a three-bedroom penthouse on iconic Queen Street in Mayfair. Spanning over two floors in a period building, the modern home is light and airy with elegant interiors and a cool, neutral palette. The upper level boasts two different outdoor spaces that look out over the historic neighborhood, which is just steps away from the restaurants and nightlife of Berkeley Square and a short walk away from Hyde Park.
Pacaso® is a technology-enabled marketplace that modernizes real estate co-ownership to make owning a second home possible and enjoyable for more people. Pacaso curates luxury listings with premium amenities and high-end contemporary interior design, offers ⅛ to ½ ownership with integrated financing, and, after purchase, professionally manages the home and supports seamless resale. Co-founded by Austin Allison and Spencer Rascoff in 2020, Pacaso operates in more than 35 top second home destinations around the world. Pacaso has been certified as a Great Place to Work and is recognized as one of Glassdoor's 2022 Best Places to Work.