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Racing Heiress Petra Ecclestone Relists Los Angeles Mega-Mansion for $175 Million

By admin
At Jun 07, 2018

British heiress and socialite Petra Ecclestone is relisting her sprawling Los Angeles mansion for $175 million, a $25 million discount from its original asking price. ​

Ms. Ecclestone had been taking a “wait and see” approach to selling the French chateau-style home when she first listed it for $200 million in 2016, according to the listing agents, Rick Hilton and David Kramer of Hilton & Hyland. Now, she is truly motivated to sell, Mr. Kramer said.

No single home in Los Angeles has ever sold for this much. The record price was $110 million, set just in April by the sale of Hard Rock Cafe founder Peter Morton’s home in nearby Malibu, Calif. Mr. Kramer said his client had received offers on the property when it originally listed, but none were satisfactory. One of the offers came from entertainers Beyoncé and Jay-Z, according to two people familiar with the situation. Spokespeople for the couple didn’t respond to requests for comment.

The property, known as the Spelling Manor, was built by late television producer Aaron Spelling around 1990. Ms. Ecclestone bought it from Mr. Spelling’s widow, Candy Spelling, in 2011 for $85 million and employed more than 500 workers to completely renovate it.

The Holmby Hills estate totals roughly 56,000 square feet, making it one of the biggest private homes in Los Angeles. It sits on 5 acres with seven bedrooms, seven staff bedrooms, a 30-foot-high entryway with a double staircase, a two-lane bowling alley, a wine cellar, a gym and a beauty salon with a massage area and tanning rooms. The grounds include a swimming pool, a tennis court, a motor court with space to park 100 cars and formal gardens. Ms. Ecclestone has renovated some of the interiors since she last listed the property, including the master suite, Mr. Kramer said.

The street, Mapleton Drive, is also home to the mansions owned by music mogul Sean Combs and Sean Parker, a founder of Napster and the former president of Facebook , according to public records and people familiar with the street.

The daughter of Formula One billionaire Bernie Ecclestone, Ms. Ecclestone, 29, recently divorced from her husband James Stunt and has three children.

Spelling Manor is the latest Los Angeles mega-property to relist at a lower price in recent months. Developer Bruce Makowsky recently dropped the price of his Bel-Air spec mansion to $188 million from $250 million, for instance. And Le Belvedere, a Bel-Air mansion built by Mohamed Hadid, recently sold for $56 million; It was first listed for $85 million in 2016.

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Ranking units in L.A.’s new condo kingdoms – The Real Deal

By admin
At Jan 22, 2018

The Santa Ana winds are shifting in the Los Angeles luxury condo market, and so are buyers’ priorities and preferences.

The original go-to location in L.A. for a high-end condo experience had long been Millionaire Mile, a gilded stretch of the Wilshire Corridor abutted by the “golden triangle” of Beverly Hills, Bel Air and Holmby Hills. But it looks like many of those who can pay top dollar are now putting down luxury roots in nearby Century City instead.

Nearly half of this year’s 10 priciest condo sales in L.A. County had addresses in the Westside’s hottest up-and-coming neighborhood, according to The Real Deal’s analysis of closed sales recorded from Dec. 1, 2016 to Nov. 31, 2017, on Redfin and the Multiple Listing Service Los Angeles and in county records and news reports.

What was once just the Fox Studios backlot is now not only the gateway to Beverly Hills but also a high-end shopping and dining destination itself. The Westfield Century City mall recently underwent a $1 billion renovation meant to entice shoppers with Mario Batali’s Eataly, an Amazon bookstore and even a cryotherapy clinic. And the neighborhood’s overall increased walkability — along with its hotly anticipated access to mass transit — makes it the most-desired destination in town, brokers said.

“All eyes are on Century City now,” said Jon Bronson, who with fellow Coldwell Banker agent Mary Swanson sold a $9.9 million townhouse in the Century — the seventh-priciest deal in TRD’s ranking.

Susan Smith, an agent with Hilton & Hyland who has sold several units in the exclusive Enclave at Century Woods development, has seen an increase in demand for pedestrian accessibility even from her highest-profile clients.

“Hey, Jane Fonda drives a Prius,” Smith said, not ruling out that the actress and new Enclave resident might also take the Metro. The Century City/Constellation Purple Line station begins construction this year and will connect Century City to Downtown L.A. upon its completion.

In just the last two years, Smith has seen a big transition in the area. Clients who once reflexively looked to the Wilshire Corridor for prime condo properties are shunning the neighborhood due to its lack of transit accessibility and street-level engagement.

“There’s nowhere to walk,” Smith said. “I’m seeing it across the board. Even people from Beverly Park are looking for this ease of access.”

(Click to enlarge)

David Kramer, an agent with Hilton & Hyland who handled the sale of a $6.7 million condo in the Century in 2017, further confirmed that “L.A. is now in transition,” with luxury condo buyers moving away from the Wilshire Corridor and over to Century City. He’s also noticed more interest from out-of-town buyers who come to L.A. often for business or pleasure. They may pop in and out but don’t have an intimate understanding of the city, which makes a pedestrian-friendly neighborhood particularly appealing, he said.

“If you don’t know the area well, Century City is very easy to navigate,” Bronson added.

And there seems to be one place in particular the most high-flying buyers turn to for a Century City condo. Four of the priciest sales in the area were for units in the Century, developed by Related Group.

Nestled close to the new Waldorf Astoria Beverly Hills and the Peninsula Hotel, the 42-floor tower designed by Robert A.M. Stern Architects houses 140 units on 4 acres. The amenities — including a screening theater, private Equinox fitness center, private wine storage and comprehensive security — are drawing interest from all over the map.

Bachir Oueida of Douglas Elliman handled the priciest condo sale of the year: a $20 million penthouse in the Century, which sold in June. Months later, he handled the sale of a whole-floor condo unit with 360-degree views for $6.15 million. He has had a total of 39 closings in the Century since it opened in 2010, he said.

“People are downsizing from megamansions. They’re coming from Bel Air, Beverly Hills, the Bird Streets, coming from $15 or $16 million properties. They want low-maintenance, vertical-estate living,” said Oueida.

He sees interested buyers coming from the East and West coasts, in addition to international buyers looking for a no-fuss pied-à-terre. Oueida added that he has buyers renting out Century City condos for $20,000 per month.

The Montage Beverly Hills had two of the priciest condo sales of the year.

The pace of dealmaking in the area has noticeably picked up as of late, Kramer noted. He listed the $6.7 million Century unit, which had been fully gutted and given a facelift, and fielded several calls in short order. The buyer came in with an all-cash offer with no contingencies and moved in within a week. That’s just how hot things are in L.A., he said.

That supports the trends noted in Douglas Elliman’s Greater Los Angeles luxury condo market report for the third quarter of 2017. Median prices largely inched upward, while marketing time was short and discounts remained nominal. In the Century City and Westwood areas, which are grouped together in the report, the median sale price was up 13.6 percent from the year-earlier quarter, to $883,000. The average number of days on the market was down to 53 days, from 59 days in Q3 2016.

Signs point to escalating demand for the neighborhood. There were 130 luxury condo sales closed in the area in the third quarter of 2017 — an increase of 24 percent from the previous year, according to the Elliman report.

Despite the promising pace, insiders are wary of making predictions about how long the boom will last. Though they’ve been watching and waiting for the bubble to burst, Kramer said that the figures indicate that’s not happening yet. “You’d be crazy to try to predict now where we are in the seven-year cycle. We just had a very strong November and December,” he said.

While he is cautiously optimistic, Kramer is wary of a number of uncontrollable factors that could impact the market both negatively and positively. He pointed to questions of safety around the world that could affect whether  international clients choose to relocate.

But on the flip side, there’s also been an influx of new industries into L.A. that could bring a whole new demographic of clients into the market, he noted, pointing to the recent tech boom that has minted a whole new class of wealth seeking the kind of ultraluxury experience these high-end condos offer.

“I saw the 2006 bubble coming a mile away, but now it’s so much harder to predict,” the broker said.

Still, there are some tea leaves to read.

“The only thing I can say: There’s not a huge uptick in inventory in certain neighborhoods,” said Hilton & Hyland’s  Smith.

She pointed to Beverly Hills as one example. “I can’t see a huge correction there. A lot of people are moving around from the same area. But there’s such a restriction on inventory that I’m getting several offers on things that are well-priced,” Smith said.

The median condo price in Beverly Hills was $1,272,500 in the third quarter, an increase of 7.4 percent from the year-earlier quarter, Elliman reported.

While unique homes at the very top of the market are commanding sky-high sums, the price growth isn’t happening at the same rate it once was, Smith said. “The numbers aren’t going up like they were. But they are up 40 percent from 2007 in Beverly Hills, Bel Air and Malibu,” Smith said.

Oueida anticipates more interest in the area on the horizon, a good thing given the amount of new ultraluxury product slated to come online nearby.

Century Plaza has two 46-story condo towers slated to open this year atop the Fairmont Century Plaza Hotel. Developer Beny Alagem is planning two 12-story condo towers atop the Waldorf Astoria Beverly Hills, at the corner of Wilshire and Santa Monica boulevards. (This after voters rejected a ballot initiative to alter the proposal to one 26-story condo tower on the property in 2016.)

More buyers are realizing that they can get many of the features of a single-family home in a luxury condo, brokers said.

Coldwell’s Bronson, for example, chalked up his near-$10 million condo sale specifically to the quality of the product he was selling, which was one of only two townhome units on the Century’s ground floor. Being on the first floor gives residents the feel of estate living with all the advantages of condo life, he said.

Bronson sold the unit for his client, owner Marc Schorr, former COO of the Wynn Resorts in Las Vegas. The broker said he knew he’d be able to close the deal at asking price because of the work put into the unit. Schorr had engaged the same designer responsible for the suites at the Wynn in Las Vegas to redo the entire townhouse with the same luxurious finishes.

Bronson closed the deal just under eight weeks after the listing date. “We knew that if we priced it correctly, it would sell. My client didn’t want to price it above market,” Bronson said. It only took a small number of showings before it was clear that they had a deal, he added.

Stunning views are another important factor in selling high-rise condos to buyers used to L.A.’s single-family luxury homes. Elliman broker Oueida’s sale of a 9,700-square-foot unit occupying the entire 26th floor with a 360-degree view is a case-in-point.

“If you’re living in the hills or the Bird Streets, you want views. Those houses generally have a 180-degree view with a hillside behind it,” he said. “This offers a jetliner view.”

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Real estate agents lay out strategies on how to bring home residential deals.

By admin
At May 11, 2017

Going To War’

By Helen Zhao

Friday, April 21, 2017

The competition is heating up for homes priced for less than $3 million in Los Angeles County. The number of properties sold at that price point rose by 1.4 percent last year, while the average number of monthly active listings declined by 12.2 percent, according to the California Association of Realtors.

As a result, agents said they typically expect anywhere between four and eight offers for a desirable property, something agent David Kramer of Hilton & Hyland in Beverly Hills refers to as “going to war.”

Winning a high-pressure bid battle can often come down to nuance. Agents on both the buy and sell sides of the deal shared their winning strategies for coming out ahead in the ultracompetitive L.A. home market.

Buyers

1. Confidence.

A buyer has to be prepared to make the strongest possible offer. That means being certain it’s the right house for them. Kramer makes sure his clients view a home more than once. “What I find is hesitation often comes from not remembering the house. You see it once, get excited, and write the offer,” he said. Confidence also comes from being informed about comparable sales in the area and what it takes to sweeten a deal in a bidding war, like shortening or waiving contingencies.

2. First impression.

“When your client walks into the open house, this is an interview,” said Michael Nourmand, president of L.A.’s Nourmand & Associates. “The agent is watching your client – what they say, how they appear, if they seem easygoing. Do they really like the house?” In a hot market, Nourmand tells his clients to “be very complimentary about the house because you want to sell to the listing agent that you really want the house and that your buyer is going to close.”

3. Escalation clause.

Some might view it as an unfair tactic, but adding an escalation clause helped one Nourmand buyer win a bidding war for a home that sold for just less than $1 million in Studio City with six offers, he said. “What it means is that I will pay (for example) $5,000 more than the highest written verifiable offer, purchase price not to exceed $1.5 million.” Nourmand suggests calling the listing agent to see if he or she is OK with the escalation clause first.

4. Level the playing field.

Kramer suggests asking the listing agent if any of their own clients are submitting bids. If so, “they’re going to pick that person.” If that’s the case, then ask to bring the selling broker’s manager in. But don’t stop there, he said. “Another thing I ask – Is there anything special that is nonfinancial that will make this seller happy?” Learning about a seller’s specific needs and addressing them means that even if you don’t have the highest offer, the seller might tell you what the highest offer is and give you a chance to match it.

 

5. Emotional connection.

Agent Dennis Hsii of Playa Vista Premiere saw just how effective this tactic can be when his buyer won a bidding war with 13 others on a $1.1 million Santa Monica home in November. Hsii’s buyer, who took out a loan, beat out five all-cash offers and others worth more money. Hsii said it all came down to an initial meeting with the listing agent, homeowners, and neighbors. Then he hand-delivered the offer in a gift-wrapped package, with a bow on top, that included a personal letter to the seller explaining why the buyer loved the home and how it would be perfect for the family.

Sellers

1. Price right.

Price the home in a manner that invites multiple offers. That can drive the price of the home up. “Let’s say the magic number for your house is $2 million, and you price at $2.3 million. You’re going to get $1.95 million. If you price it at $1.95, you might get $2.5 million,” said Jeffrey Saad, an agent at Compass in Beverly Hills. “You can make an extra $100,000 just by pricing for multiples versus pricing too high and slowly reducing over a few months.”

2. Highest doesn’t mean best.

An offer that comes in a lot higher than the others could be cause for concern. Carrie Rollings Meynet of Gibson International in Brentwood said she learned that the hard way while selling a $1.5 million condo last year that received eight offers. Her client accepted the highest offer, which was well-above asking price. “Some agents will represent buyers who throw in an unbelievable price point just to secure their position in a multiple,” she said. Then they ask for large concessions. During her inspection, the buyer asked for extremely high credits – or monetary deductions – based on perceived flaws with the unit. The deal fell out of escrow because an agreement couldn’t be reached.

3. Have a backup.

In the case of the condo with multiple offers, Rollings Meynet had secured a backup offer in writing. “As an agent, it’s important to maintain communication with backups, making sure the backup position is still a viable offer,” she said. “If you don’t have a backup, you may have to show the house in open house again.”

4. Plan for a low appraisal.

Banks will typically lend 80 percent of a home’s appraised value, so if a property appraises for less than the purchase price, the buyer will have to come up with more cash. Anticipating a lower appraisal, Saad and his wife, Nadia, also an agent with Compass, chose a buyer with a down payment higher than 20 percent, for a $900,000 condo in Westwood. “The buyer stayed because they had a higher down payment. If we had gone with a lower down payment, the deal wouldn’t have closed,” he said.

5. Evaluate emotional commitment.

“When I see that a buyer is truly emotionally married to that property, they want to stick through the hard stuff during escrow,” said Rollings Meynet. “Like (if) your plumbing is shot in the house – this is overwhelming to the buyer. Is it so overwhelming that they’ll walk?”

 

Original Article 

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High-End Amenities Help Put Price on Mansions – LA Business Journal

At Apr 10, 2017

REAL ESTATE: Developers, designers look to create next big thing to hook ultrarich.

By Helen Zhao
Friday, March 31, 2017

From his and hers bathrooms to six-car garages, amenities once reserved for the ultrarich have become standard fare in what some call the “middle market” of luxury homes in Los Angeles, ranging from about $5 million to $15 million.

“It’s a routine conversation we have with high-end developers: What am I missing? What’s going to make my house stand apart?” said Jesse Harrison, business development director at Harrison Design, an architecture firm headquartered in Atlanta with offices in Los Angeles. “What’s going to make someone walk in and say, I’ve got to have this house?”

Those attractions range from elevators to large commercial kitchens, putting greens, infinity pools, saunas, gyms, screening rooms, temperature-controlled wine rooms, and home automation.

Such amenities are often necessary for projects to justify their asking price, said Hamid Toufanian, a developer, architect, and general contractor in Santa Monica.

“The prices of properties are soaring up,” he said. “And to make a house and sell it with profit, we have to add items of luxury.”

Toufanian is placing an elevator, arts-and-crafts station, dual master bathrooms, gym, wine cellar, and screening room in a home his company, Architecture West Inc., is building in Santa Monica and hopes to sell for just under $9 million.

“In 2006, you couldn’t spend $200,000 on a door because the market wouldn’t support it. It does now,” said David Kramer, an agent at Hilton & Hyland. “A house in 2006 in the top top high end now looks tired and not nearly the level that you see today.”

Kitchens for catering

Attracting wealthy buyers has started an arms race among developers, each one seemingly looking for the next “thing” to set their homes apart.

Harrison said his firm designed a simulated golf range with a giant screen in a custom $10 million Brentwood home for a links enthusiast.

Many of his clients also want full catering kitchens with walk-in refrigerators and freezers. Butler’s pantries that once housed china and silverware are giving way to a “dramatic, beautiful second kitchen” housing a second oven and refrigerator as well as often quirky decorations such as “a crazy wallpaper or funky chandelier,” he said.

The main kitchen is morphing to allow families to cook together, said Peter Loewy, chief executive of Beverly Hills’ Teles Properties.

“You might find double or triple stoves. You might find different cutting areas,” Loewy said. “In the 1950s, you’d never find a big kitchen. You would never have two stations, because in the 1950s the men never cooked.”

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$250 MILLION BEL AIR MANSION MOST EXPENSIVE US HOME FOR SALE -ABC NEWS

At Jan 22, 2017

$250 MILLION BEL AIR MANSION MOST EXPENSIVE US HOME FOR SALE

Listed at $250 million, a mansion in Bel Air became the most expensive home for sale in the United States.

The quarter of a billion dollar home includes 12 bedrooms, 21 bathrooms and a state of the art movie theater within its 38,000 square foot space.

It also comes furnished with $30 million worth of exotic cars, a piece of helicopter artwork and a $200,000 wall of candy.

“Now you’re seeing homes that are so specific and bespoke for Los Angeles world class, which we haven’t seen before,” high-end luxury real estate agent David Kramer said.

A Bel-Air mansion is the most expensive home for sale in the United States with a $250 million price tag.

Kramer, an agent for Hilton & Hyland, believed the sale of Spelling Manor in the Holmby Hills neighborhood kicked off the ultra-high-end real estate market.

“You hadn’t seen sales that high and now you’ve seen several since then. I definitely think it changed the way people thought about real estate in Los Angeles,” he explained.

However, most of the general public will be unable to take a personal tour to view the home for themselves.

“I just tell them send me proof of funds for a billion dollars and we’ll set it up right away,” Kramer said.

The real estate agent shared that for those looking for cheaper home, Spelling Manor is again up for sale at $200 million.

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Mexican actor/director Eugenio Derbez grabs an $8 million architectural in Beverly Hills (Post Office) – LITTLE BLACK BOOK

At Nov 30, 2016

eugenio_derbez_beverly_hills_house

What would we do without our beloved Romanian pal Vlad the Revealer from Celebrity Address Aerial, y’all? It was he, after all, who demanded that we spill the proverbial jelly beans on a super-contemporary mini-mansion way up high in the Benedict Canyon region of the Beverly Hills Post Office neighborhood. For those of you ignorant young’uns, the B.H.P.O. refers to homes in the mountains above Beverly Hills. These properties carry a 90210 zip code but are technically located within the boundaries of the city of Los Angeles — which means they are saddled with LA city utilities and public services. You know the drill.

Anywho, this September (2016) the aforementioned contemporary crib sold for a hefty $7,750,000 to an enigmatic blind trust that purposely shields the identity of the buyer. Mr. Revealer, however, wasn’t about to accept that and insisted that Yolanda snitch about who the top-secret new owner is. And who are we to leave great Mr. Revealer’s wishes unfulfilled, right?

The new owners, as Yolanda soon discovered, are a fella from Mexico named Eugenio Gonzalez Derbezand his wife Alessandra Rosaldo.

Generated by IJG JPEG Library
Ms. Rosaldo & Mr. Derbez

Our Ms. Rosaldo is an actress/singer/dancer who has portrayed a bunch of roles on various Mexican soap operas. She is also known for her singing career, both solo and with her successful band Sentidos Opuestos. And she’s got more than a million followers on that Instweird thingamajiggy.

Eugenio Derbez is an actor/comedian/director/producer who has been a familiar face on Spanish-language TV since the 1980s, starring in Mexican soap operas such as Anabel and Papá soltero. In recent years, he has also begun appearing in klassy Hollywood films such as Beverly Hills ChihuahuaJack and Jilland Miracles from Heaven.

The real reason Mr. Derbez is able to afford a $7.75 million house in the 90210, however, is because he created, directed, and produced the highly-successful XHDRbZ and La familia P. Luche sitcomes, which went into (highly-lucrative) syndication with both the Televisa and Univision giant networks. In recognition of his success, Mr. Derbez received a star on the Hollywood Walk of Fame earlier this year (2016).

But we digress. Yolanda carefully perused property records and from what we can tell, the subject property was purchased by a real estate developer named Alan M. Shafer three years ago for just $1,750,000. The industrious Mr. Shafer quickly tore down the existing 3,000-square-foot house and replaced it with a big-but-not-oppressively-huge 5,343-square-feet of architectural pizazz.

The somewhat-ominous-looking front facade lacks any street-facing windows on the first floor, assuring celeb-style privacy. A two-tone paint job (or three-tone if y’all count the black garage door) keeps things fresh and different from all those other bright white contemporaries that litter these hills.

Guests wishing to gain access must enter through a front courtyard (more like a gated walkway, really) and step over a bubbling fountain to reach the inside. We’re not gonna lie, Yolanda was very impressed by the gallery-style entrance foyer that provides a straight-shot view past the formal dining table, throught the floor-to-ceiling glass walls, over the infinity-edged pool and to the thickly-wooded Benedict hills. The floors are black tile.

Speaking of the dining table, it appears to be forged from either black marble or (more likely) an ebonized wood of some sort. Then there’s one of those nifty dual-sided fireplaces, on the opposite side of which is a clubby living room overlooking the mature pines out back.

One fab thing about this house is that the view faces west, meaning those iconic California sunsets are a daily feature up here.

As you’d expect, the kitchen is sleek, chic, and uber-contemporary. The center island looks bigger (or at least longer) than most Porsche 911s and the black-glass countertops look snazzy but are probably fingerprint hell — not to mention the glass wine cellar and super-expensive Miele appliances. Six bar stools adorn the table — perfect for Ms. Rosaldo, Mr. Derbez and his four kids  Aislinn Derbez, Vadhir Derbez, José Eduardo Derbez, and Aitana Derbez to enjoy an informal meal together.

Check out that black recessed shelf in the middle of the cabinetry. Kinda cool — we can’t remember seeing anything like that before.

Oh, one other thing we like about this house is the lack of all those round recessed lights that are ubiquitous in new construction — no matter the style of home — these days. (We can only imagine that whoever invented that annoyance must be a billionaire by now!)

Whoops! Yolanda spoke too soon. Look what we got here! But it ain’t an overload, thankfully.

The structure contains a total of 5 bedrooms and 5.5 bathrooms. And swankiest, natch, is the master suite. In the listing’s own words, the room features “45 feet of retractable glass doors to a private landscaped terrace, while the master bath boasts a custom book matched marble clad master shower w/ steam, three rain showers & a wall of glass to canyon vistas.”

There you have it.

The media room — or media nook — features a surround-sound system and a rather fratty-looking leather couch. No thanks on that piece!

Although the 1.06-acre cul-de-sac lot may seem generous on paper, the reality is that a significant portion of that is hillside. But the developer still managed to squeeze in plenty of outdoor living space, like that dining table and lounge-y area and what appears to be an outdoor fireplace along the side of the main structure. Plus, you’re just 10 minutes by car from the Polo Lounge at the world-famous Beverly Hills Hotel. Yummy.

 

READ MOREListing agents: David Kramer and Adam Press, Hilton & Hyland
Mr. Derbez’s agent: Gloria Carmona, John Aaroe Group

 

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SEVEN WONDERS: EPIC FAMILY HOMES – CHRISTIES LUXURY DEFINED

At Nov 30, 2016

This holiday season, Luxury Defined tours some of the world’s largest family homes—built to host lavish festivities and accommodate guests by the score

There’s no place like home for the holidays, when those welcome hordes of relatives and friends descend upon the family household, where merrymaking—and logistical chaos—ensue. Here we present an alternative to that “relative” chaos with this collection of epically proportioned homes. Spanning from 15,000 to 56,000 square feet, these are no ordinary houses: among this box of delights is the inimitable L.A. manor house built for TV mogul Aaron Spelling; a fairytale French château (complete with a moat); the ultimate New England family compound, with its own helipad, amphitheater, and dock; and a stately villa to waltz in the famous Viennese New Year Ball. All have exquisite décor, five-star amenities, dedicated entertaining areas, and—most importantly—oodles of accommodations (without a fold-out sofa in sight). Happy Holidays!

The Manor (56,000 square feet)
Holmby Hills, California

One of the world’s most luxurious homes, The Manor was formerly owned by entertainment royalty Candy and Aaron Spelling; in 2011 the magnificent French château-style residence was updated with no expense spared.
One of the world’s most luxurious homes, The Manor was formerly owned by entertainment royalty Candy and Aaron Spelling; in 2011 the magnificent French château-style residence was updated with no expense spared.

The Manor is the largest and grandest private residence in Los Angeles and one of the most luxurious homes in the world. Perched atop approximately five acres of exquisitely landscaped land in prestigious Holmby Hills in Los Angeles’ Platinum Triangle, the elegance and grandeur of this world-famous estate put it in a category of luxury all on its own. The French château-style residence was built by entertainment royalty Candy and Aaron Spelling. Originally designed by architects James Langenheim & Associates in 1988, the main residence’s most recent renovations took place in 2011, and the current owner spared no expense to update the estate to a contemporary style.

 

 

READ MORE AT LUXURY DEFINED 

 

 

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The largest private residence in Los Angeles just became the most expensive home in America – BUSINESS INSIDER

At Oct 06, 2016

The largest private residence in Los Angeles just became the most expensive home in America

Hilton & Hyland“The Manor” from above. Hilton & Hyland

A mansion known only as “the Manor” has just become America’s most expensive home, boasting a $200 million price tag.

Built in 1991 on five acres of land in the Holmby Hills section of Los Angeles, the house is a staggering 56,500 square feet and has 123 rooms, including seven bedrooms and a service wing. The listing refers to it as the largest residence in Los Angeles.

To get a handle on just how big that square footage number is, a new home completed in America is 2,392 square feet on average, according to the 2010 Census.

The home is also equipped with a swimming pool, formal garden, and 100-car parking lot,according to The Wall Street Journal. The grand entrance has a circular driveway with a fountain in the middle and, inside, 30-foot ceilings.

There’s a bowling alley, a wine cellar and tasting room, and a full beauty salon complete with tanning and massage rooms. The kitchen count hovers around five. A 7,000-square-foot master suite comes with its own kitchen and living room and “a two-level closet connected by a pair of staircases,” according to The Journal. There’s also a gift-wrapping room that the media has often poked fun at.

The mansion has a long pedigree, as it was previously owned by Candy Spelling, the widow of producer Aaron Spelling. Spelling listed the property for $150 million in 2008.

It was eventually sold to Petra Stunt, the daughter of Formula One racing billionaire Bernie Ecclestone, for $85 million in 2011. Stunt tried to offload the property for $150 million in 2014, but a report says she declined a matching figure in 2015.

It’s now back to a price that blows all of the previous high numbers out of the water. The $200 million listing price makes it the most expensive home in America, replacing the Playboy Mansion, which ended up selling for $100 million after being listed for double that. Two homes — one in Florida, the other in California — are currently listed for $195 million, falling second to Stunt’s Holmby Hills home.

Rick Hilton and David Kramer of Hilton & Hyland have the listing.

The ManorFlickr/Atwater Village Newbie

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Rick Hilton and David Kramer List The Manor; Legendary Holmby Hills Estate

At Oct 05, 2016

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British Heiress Petra Stunt Lists Spelling Mansion for $200 Million — WSJ

At Oct 04, 2016

The daughter of Formula One racing boss Bernie Ecclestone purchased ‘the Manor’ from Candy Spelling, widow of late television producer Aaron Spelling

British heiress Petra Stunt bought the Spelling Mansion from Candy Spelling, widow of late television producer Aaron Spelling.
British heiress Petra Stunt bought the Spelling Mansion from Candy Spelling, widow of late television producer Aaron Spelling. PHOTO:RANDOLPH HARRISON

After conducting a major renovation, British heiress Petra Stunt is relisting the Spelling Mansion—the massive Los Angeles home built by late television producer Aaron Spelling—for $200 million.

The Holmby Hills home is roughly 56,500 square feet, making it one of the largest private homes in Los Angeles, said Rick Hilton of Hilton & Hyland, who is listing the home with colleague David Kramer.

Petra Stunt.
Petra Stunt. PHOTO: DAVE BENETT/GETTY IMAGES

On roughly 5 acres, the home has seven bedrooms plus a service wing, Mr. Hilton said. The home’s entry has 30-foot-high-ceilings and a double staircase. There is a two-lane bowling alley, a wine cellar and tasting room, catering kitchen, gym and a beauty salon with massage and tanning rooms. The roughly 7,000-square-foot master suite has its own kitchen, living room and a two-level closet connected by a pair of staircases.

Outside there is a swimming pool, tennis court, formal gardens and a circular motor court with a fountain and space to park 100 cars, Mr. Hilton said.

Mr. Spelling and his wife Candy built the French chateau-style home around 1990. After her husband’s death, Ms. Spelling listed the house for $150 million, and it was on the market for about two years before it was purchased in 2011 for $85 million by Ms. Stunt, the daughter of the British billionaire and Formula One racing boss Bernie Ecclestone.Ms. Stunt embarked on an extensive renovation, employing about 500 workers. “She didn’t spare any expensive in the renovation,” Mr. Hilton said, although he declined to specify how much the project cost.

Mr. Hilton said Ms. Stunt and her husband, entrepreneur James Stunt, are selling because their children are in school in London and they aren’t spending much time in Los Angeles. She bought a home in London’s Chelsea neighborhood in 2010 for about $90 million. The Stunts could not be reached for comment.

After a spate of big-ticket sales in the past few months, Los Angeles has seen a number of high-end properties go on the market. A Beverly Hills estate once owned by William Randolph Hearst listed in September for $195 million—up 18% from its last formal listing price of $165 million in 2007.

Mr. Hilton said the Stunt home’s value comes from the fact that it is “in the best location and in move-in condition.” By contrast, he said the Playboy Mansion, which recently sold for $100 million, “needs everything.”

Write to Candace Taylor at Candace.Taylor@wsj.com

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