Filed under: Estates

This New York City co-op is located at 77 Bleecker St is three levels and has some great open spaces. The great room has high ceilings, three exposures, and a wood-burning fireplace. The open kitchen adjoins a dining conservatory. The home is configured as three bedrooms plus a massive home studio. The master bedroom suite includes a master bath, dressing room with a skylight and laundry, and its own private south-facing terrace. The innovative windows (I love the circular window in the bathroom) make this home a step above the generic white box apartment. It is listed at $4.995 million.

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High-end real estate in London is alive and well. Last March I mentioned that Sheikh Hamad, the foreign minister of the Gulf Say of Qatar had picked up an apartment for a rumored

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Filed under: Estates, Celebrity Shopping

You may not recognize the name of Paul Oakenfold but you’ve likely heard his music. Oakenfold is a popular techno DJ and has had his music and remixes featured on a variety of soundtracks. His home, which recently hit the market, is a musicians paradise. Oakenfold bought the home in 2003 for a price in the $2.5 to $3 million neighborhood. The home sits a promontory above the Hollywood Bowl and has some truly breathtaking views. As the Real Estalker Mama notes, the exterior isn’t particularly notable but the interior is lovely. French doors abound and the master bedroom is particularly stunning because the French doors basically open up the entire room, check out the night shot in the gallery of listing photos, it’s breathtaking. There are four bedrooms total. The home has a big recording studio and there is a lovely pool, spa and patio area and a nice patch of grassy lawn. Oh, and about that Hollywood Bowl view, the home has bleachers so that, with a set of binoculars, you can watch the show for free. Maybe that savings would help defray some of the $10 million asking price.

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From the NY Post’s Gimme Shelter:
–The double-wide, 22,000-square-foot Upper East Side mansion at 14-16 E. 67th St. which belonged to Bob Guccione has been on and off the market for the past six years for prices over $50 million finally has an accepted offer. The reported buyers are edge-fund manager Philip Falcone and his wife, Lisa. The final price is unknown but the home’s $59 million listing figure is well above the current record of $53 million for a 25,000-square-foot townhouse on East 75th Street bought by investment banker J. Christopher Flowers nearly two years ago. Guccione was forced out of the townhouse in early 2006 after he failed to pay off a high-interest loan in a last-ditch effort to avoid foreclosure a few years earlier. Even with the high price the home is stated to need work.
–European soccer star Robbie Elliott’s two-bedroom, two-bath condo at 205 E. 59th St. is now listed for $1.9 million. The listing is here.

From the NY Observer’s Manhattan Transfers:
–The independent news program Democracy Now! has paid $6 million for a raw loft at 217 West 25th Street. Records show the group took out a $6 million mortgage paid for by the literary Lannan Foundation, run by J. Patrick Lannan Jr.
–More news on the homes billionaire Ira Rennert purchased for his daughters. He bought two apartments, each over $30 million, for his two daughters, Tamara and Yonina. The first daughter’s duplex at 740 Park Avenue closed for $32 million and the latter daughter and her husband shut on designer Vera Wang’s old 14-room apartment at 778 Park. The closing price was $33.6 million. There are no mortgage records filed for either deal, which recommends that Mr. Rennert not only spent $65,600,000 on his daughters’ apartments last month, but he paid $65,600,000 in cash.
–Actor Frank Langella shut on a $2.1 million, fourth-floor condo at 336 Central Park West this week.
–The old Stanhope hotel which was turned into multimillion dollar apartments was stalled for sales for a couple of years but now all but five of the 26 units have gone to contract since April. Cristina Carlino, the founder of Philosophy cosmetics, paid $11.97 million for the first unit and so far wo other buyers spent about $13 million each with the the second spending part of that amount on an $848,000 one-room, first-floor maid’s studio. The biggest listing at 995 Fifth, the custom-built, five-bedroom penthouse, still sits on the market for $47.5 million.
–Steven Feder, the man once known as the Psychic Hotline King and his partner, Lou Thomas Trosclair, sold off for a massive profit the Time Warner Center apartment that they bought from Ricky Martin. They paid $9.75 million in September 2006 for the 3,050-square-foot space and sold it for $15.85 million to a neighbor. They purchased a combined-unit apartment exactly 10 floors up, paying $24.48 million. Their seller at the $24.48 million apartment paid just $12.5 million in 2006.
–Trump SoHo, the 46-story glass tower at Spring and Varick streets, has already sold a slight majority of its units-53 percent, although sales began just in September, and the building isn’t scheduled to open until 2009.
–Robert Toll, the CEO of Toll Brothers Inc. the largest luxury home builder in the U.S. reportedly had his compensation cut from $19.2 million in 2006 to $8.4 million for the last fiscal year, as his company’s net income fell 95 percent. Toll was planning to move into the three-unit penthouse at One Ten 3RD, Toll’s rectangle-paneled new condo on Third Avenue, but his wife vetoed that idea. Instead, the Robert & Jane Toll 2002 Children’s Trust, “for benefit of” their 27-year-old son, Jacob, paid $2,235,672 for just one of those three penthouse units.

From the Wall Street Journal’s Private Properties:
–Kanye West sold his Beverly Hills teardown for around $8 million, less than a year after he purchased it for $7.15 million. As I’ve mentioned in previous columns there is a house on the property but the home was sold for land value and includes plans for a two-story contemporary home.
–The former home of Joseph Hirshhorn, who gave his name to a renowned Washington art museum, has sold for $30 million in Greenwich, Connecticut.
–Jet-charter company owner Todd Rome has agreed to sell his Southampton, N.Y., home, fully furnished, for $11.5 million which is lose to double what he paid for the 1.8-acre property in 2005.

From the Real Estalker:
–Rumor has it that Nancy Daly, the estranged wife of Los Angeles’ really rich ex-mayor Richard Riordan, has very quietly sold her Carbon Beach Malibu compound to a young hedge fund honcho and his wife for somewhere in the neighborhood of $50-$55 million.
–Actress Michelle Johnson has put her Buddha-themed modern home on Blue Jay Way in West Hollywood on the market for $6.35 million. Check out the gorgeous view at the property website here.
–In 2007, actress Diane Keaton spent $9,100,000 for the Lloyd Wright (the son of Frank Lloyd Wright) designed Alfred Newman Estate on Sunset Boulevard in Pacific Palisades. The six-bedroom home sits on a 2.625 acre property. Keaton, who is a famous property flipper in Los Angeles, has put the property back on the market for an undisclosed amount.
–I think I saw a billboard in Los Angeles advertising this one, 138 acres of Hollywood hilltop including Cahuenga Peak, shown above, for $22 million.The listing says that the land can be developed into one huge estate with 360 degree views or that five large estates can be constructed.
–Screenwriter Naomi Foner and television director Stephen Gyllenhaal (yes, parents of Jake and Maggie) have put their modern Runyon Canyon adjacent home on the market for $4.2 million. The listing for the five-bedroom home is here.
–DJ Paul Oakenfold has put his Los Angeles home on the market, it’s our estate of the day later this day.
–Actress Beverly D’Angelo has bought the allegedly haunted home in the Hollywood Hills that belonged to Donna Dixon and Dan Aykroyd for $3.8 million (it was listed at $4.2 million).
–Singer Dido might have already found a buyer for her charming home which is listed at $4.6 million.
The Beverly Park mansion belonging to property developer Robert Bisno and his wife Jeanette appears to be headed into foreclosure. The scuttlebutt is that they are in default on a $4,000,000 mortgage and February 29th auction date has been set.
–CSI: Miami star Khandi Alexander has but her home in the Hollywood Hills on the market for $4,495,000. The listing is here (no pictures yet).

From Lexis-Nexis:
—-Russian star tennis player Maria Sharapova has purchased a luxury penthouse apartment worth $ 2.1 million in the beach city of Netanya in Israel. (Thanks, Lana)

From the LA Times Hot Property:
–Former baseball star Mike Piazza and his wife, the former Alicia Rickter, a 1995 Playboy Playmate, have bought their second property in the Miami Beach area for $10 million. It had been listed at$12.5 million.The seller is Sophia Marcovitz, ex-wife of Marshall Marcovitz, the founder of the Chefs Catalog.
–Jaime Pressly has re-listed her Tarzana home at $1.299 million. Check out the photos at the virtual tour here.
–Rick Caruso, developer of open-air shopping malls including the Grove in Los Angeles, has bought a Malibu home for just under $12 million.
–Lisa Hollingshead, a producer who worked on Madonna’s “Truth or Dare” motion picture has listed a Malibu home she owns near the Getty Villa for close to $3 million.
–Before his death in 1982 at age 84, vehicle designer Howard “Dutch” Darrin had planned to develop eight acres he owned in Beverly Hills, the undeveloped residential land was sold and is now available again. The asking price is $5.75 million.

From AOL Real Estate:
–Ideal American cities for bargain hunters.
–Top improvement projects by cities.

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Filed under: Estates

Despite the fact that I once lived on in a condo on a golf course I tend not to be a fan of golf course homes. This one however, is quite charming. it is located in the Knollwood area of Southern Pines, North Carolina, nestled midway between the picturesque town of Southern Pines and the Village of Pinehurst, bracketed by the Donald Ross golf courses at Mid-Pines and Pine Needles. The Ivy Cottage was built in 1925 as a part of architect Aymar Embery’s Mid-Pines Inn and golf resort. It sits on a hilltop overlooking the 10th and 11th holes of Mid-Pines, with views of three additional fairways. The Ivy Home and Cottage underwent a large renovation in 1995, turning the former Mid-Pines lodging quarters back into a residence.

The main home received a new cottage style entry that opens to a spacious kitchen. The kitchen opens to a breakfast room with French doors and a wall of windows with access to expansive tiered decking on the southwest side of the house. The home also has a formal dining room which overlooks the terraced deck and a brick floored Carolina/family room opens to a brick patio. A downstairs guest suite has anew tiled full bath and a dressing room. The second floor master bedroom has a master bath with Jacuzzi tub and there’s an additional second floor bedroom. The guest house has been newly renovated and includes views of the 11th hole tee box and 10th fairway beyond. Glass French doors lead to a sun filled bedroom with fireplace and newly tiled full bath. Downstairs is a roomy bedroom/sitting area, also with full bath. A cottage style garden is between the main home and guest-house on one side and a view of the golf course on the other. This home is listed at $845,000.

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The declining real estate market has been particularly tough on the condo market with many people afraid to purchase a condo for fear that six months or a year later someone else will buy the same size condo in their building for a lot less money. At the Olive 8 hotel condo/hotel project in Seattle, the developer is seeking to allay that fear by offering prospective buyers the type of guarantee that we usually see electronics and furniture stores offer. The developer has said that If someone purchases an Olive 8 condo now and later someone else purchases a unit in the building with the same floor plan for less, the developer will reduce the first buyer’s price down to the lower amount at closing.

Olive 8 is currently under construction at Eighth Avenue and Olive Way and will have 230 luxury condos on 22 floors above a 17-story Hyatt hotel. The hotel is slated to open in December and condo owners will move in after that. The sales are a testimony to the dramatic shift the real estate market has taken. About a year ago the developer had sold 175 of the 230 units but since then they’ve sold less than 10 more. Remaining condos in the building begin at $750,000.

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Another huge estate has hit the market. Point Farm is located on a promontory on Virginia’s Eastern Shore where two and a half miles of white-sand shoreline surround the estate’s 130 acres with panoramic views across the Chesapeake Bay. The farm was purchased by Virginia Beach developer Dan Hoffler in 1989 for $2.5 million (hence the scrolled H on the home’s gate). It includes a 16,000 square foot mansion and two parcels with several buildings. The massive brick home, built in 2003, sits on a parcel that was assessed in 2004 at $5.4 million while the second parcel of 14.9 acres with a restored farmhouse, a boathouse, pool and pool home, tennis courts and a huge garage with living quarters was assessed at $1.76 million. This means that the two parcels in 2004 amounted to $7.16 million which makes the home’s price of $41.75 million quite staggering. According to this AP article, a new assessment is being undertaken.

The property includes a stable and indoor riding arena, a skeet-shooting range, three stocked saltwater ponds, a hunting lodge, a pier with a boathouse, a heated mineral-water swimming pool and a copper and slate-roofed poolhouse that has a kitchen and a terrace and a tiki bar. The estate also includes the original farmhouse which was built in 1730 and has been elarged and renovated. It has six waterview bedrooms, a kitchen and loggia, a waterside tennis court and brick terraces facing Remus Cove. The main home has a big office that opens to a media room and an exercise room with a full bath. The home includes many porches and balconies and there is a widow’s walk on the roofline. The interior design style is cottage life on a grand scale with murals, chandeliers, marble and lots and lots of floral-printed furniture.

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Tucked into the lower seaside area of New Jersey, Stone Harbor is a resort enclave that doesn’t get a lot of press but is home to many high-priced homes. The small town has a small year-round population but like other resort communities it booms in the summer with tourists and part-time residents flocking to the beaches. This home on Tuxedo Point has over 220′ of water frontage with wonderful views of the bay, wetlands and beautiful sunset. It has a big pool area and the boat dock area will accommodate 4 or 5 of your watercraft. it has four bedrooms total and a beautiful light-filled kitchen. It’s a tiny close to the other homes but at least you get the point with a nice wedge of waterfront and the second story open balcony gives you a perfect place to watch the sunset. It is listed at $10.5 million.

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The architect Travis Price has created some truly astonishing structures (check out Wade Davis’s writing studio on the website, it’s stunning) but I’m not sure if today’s home is one of his greater creations. This 11,000-square-foot, six-bedroom home in the Forest Hills area of Washington D.C.has four stories and an open and angular floor plan. The home is dramatic but still appears to be comfortable and livable with big shared rooms but also plenty of private spaces. The listing blurb invokes Frank Lloyd Wright but I’m not really seeing that here. It is listed at $5.495 million.

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Filed under: Estates, Celebrity Shopping, Sports

The latest celebrity victim of the foreclosure crisis is former NBA star Latrell Sprewell. Last summer, Sprewell’s yacht, the 70-foot “Milwaukee’s Best” was repossessed now his home is meeting the same fate. RBS Citizens NA, or Citizens Bank, has filed a foreclosure suit on Sprewell’s $405,000 home in River Hills, a suburb of Milwaukee. Sprewell purchased the home in 1994 and owed $295,138 in outstanding payments plus interest. The documents say that Sprewell failed to make his mortgage payments of $2,593 per month since last September.

Sprewell, now 37, was once one of the NBA’s infamous bad boys, known for choking a coach during practice. He played 13 seasons total for three teams. Just a few years ago he turned down a three-year,$21 million contract extension from the Minnesota Timberwolves saying, “I’ve got my family to feed.” At that time he was making $14.6 million a year. The yacht, which Sprewell purchased for around $1.5 million was sold at auction for $856,000 to help pay off the $1.3 million he owes on the boat.

Sprewell is in some good company. Check out our gallery of other celebrity foreclosures below.

UPDATE: This article says that 60% of NBA players go broke after only five years of retirement. An interesting read for those of you in the comments who were wondering how this could have happened to Latrell Sprewell.

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