As nice as it is to drool over the multi-million dollar homes of the rich and famous and clutch your pearls in shock at the amazing prices that are being asked, it is also reassuring to realise that the people buying and selling these homes are still subjected to the challenges of trying to move real estate (there are just a few more zeros on the end of their checks than you or I would most likely write). A few posts that I put up in the past are worth going back to and seeing what the outcome was.
The Liongate Estate that I wrote about last month was up for sale for a cool $65 million. Coming fully furnished throughout it’s 23,000 square feet and featuring 11 bedrooms, 17 bathrooms and even it’s own panic room it’s an absolute steal at that price. Amazingly though, someone thought that was too expensive and decided to bargain with the vendor. Lucky they did because they were obviously a motivated seller and subsequently dropped the price by a whopping $19 million (that’s almost a 30% discount!). So the lucky purchaser picked up the property for $46 million and although heavily discounted, the owner has still made a nice little profit considering their original purchase price of 12.2M.
Earlier this year I wrote about Harry Potter actor Daniel Radcliffe putting his local Toorak penthouse up for sale. After owning it for 10 years and originally purchased when he was filming a movie in Australia as a teenager, he hoped to make a nice little $600k profit. After what would likely have been an expensive marketing campaign and also having moved his furniture out and getting the property professionally styled for sale he has recently pulled the property from the market. Rumor is he has another film project in the pipeline locally and might need to keep a place to unpack his carry-on luggage.
If you’ve been saving your dollars for either of these previous gems, don’t be upset that they are now off the market. There are still two properties that you can pick up. Michael Jordan’s house that I wrote about in November 2013 is STILL on the market after failing to sell at auction last year (it may have been the $250k registration fee that put people off). Originally for sale at $29 million, you can now pick it up for $16 million!
Or if you want to live beach side in Australia then you may recall the stunning Mandalay House that I wrote about in January 2014. $25 million is what the vendor originally wanted for this tropical paradise but now it’s being marketed as ‘price reduced’. Whilst no figure is being attached to this campaign I’m sure it will be enough of a saving to get that private helicopter that you can land in your front yard!
To finish off the working week let’s see what you could spend your spare money on. Realistically most of us could barely afford the letterbox of this place but if you have a spare $65 million lying around you might be interested in the Liongate Estate. Built in the 1930’s you could live it up like the Fresh Prince in this Bel Air mansion. 24,000 square feet provides you with a generous 11 bedrooms but you may struggle to locate a toilet as there are only 17 bathrooms. The swimming pool (with fountains), tennis court, movie theatre, massage room, gym and ballroom all add up to plenty of work for your team of housekeepers. Kenny Rogers owned this house in the 1970’s but since he moved on it’s expanded in size considerably. Check out the before and after pics below. The videos are enough to make you run to your Bentley and get the cheque book out of the glove box!
Before the renovations
After the renovations
And this video is worth watching simply to see them getting their money’s worth out of the flying drone mounted camera!
Always a sucker for some celebrity real estate, I was interested to see something close to home. Actor Daniel Radcliffe purchased in the local blue-chip suburb of Toorak in 2005. Radcliffe’s parents reportedly spotted the apartment while looking at Australian property on the internet in London. The home was transferred to Radcliffe when he was 18, in 2007. The flat at 98B St Georges Road is expected to sell for about $2.5 million reflecting a respectable capital gain on the speculated $1.9 million the Radcliffes paid in January 2005. The three bedroom apartment is one of two in the development, occupying the complex’s entire upper level. The apartment is accessible by lift and has views of the city skyline, the Yarra river and Hogwarts.
The promotional video below gives an idea of the boy-wizard’s digs.
Here’s a little bit of property porn to finish off the week. It may not be to everyone’s taste but I wouldn’t say no to sleeping in one of the spare bedrooms. If you’re a regular Bravo watcher you may recognise the property developer Mohammed Hadid who when not designing mega-mansions is usually seen hanging out with one of the housewives of Beverly Hills.
And looking at the footage below it appears that they didn’t use their phone to take the footage. I guess when it’s on the market for $195,000,000 you can afford to get a proper film crew in, it is LA!
It’s been a while since I’ve posted an ‘in your dreams’ property and a lot of those in the past have been from the USA. It’s great to find a good local one and this one hits just the right spot. Located a stone’s throw from the Great Barrier Reef in Airlie Beach you’ll find the amazing Mandalay House and it can be all yours for just $25 million AUD. What do I get for my hard earned millions I hear you say? Well once you fly in to your private heli-pad or sail in to your own personal marina with space for a 24m yacht as well as your 2 jet skis you can casually stroll up you your 2629 sqm (over 28,000 sq feet!) luxury home. Even before you get inside you will have passed your massive pool, huge outdoor entertaining areas, caretakers cottage and personal water desalination plant (some would say the desal plant is excessive but you can’t go washing your diamonds in salt water). Once inside you have the choice of 6 king size bedrooms (the master bedroom covers 144 sqm with lounge room & separate 52 sqm walk in dressing room) , 9 bathrooms, cinema, gymnasium and pool room, a climate controlled cellar with dining space for 12, your own internal elevator and car parking for 6 or your luxury cars if you didn’t get the helicopter here. Top all of this off with breathtaking views out over the Whitsundays and you’ll be rushing off to get your checkbook from the glove box of the Aston Martin. Still not convinced? Just check out the marketing video below…butterflies appear to be included with the price.
I’m a sucker for some reality TV and when it’s combined with real estate I’m in heaven. I’ve been addicted for a good while to Million Dollar Listing which is an American reality series filmed in a similar way to the Real Housewives series (they may not admit it but I know several readers that are regular viewers), There are series set in both LA and New York and each feature a range of over the top and outrageous properties being sold by even more over the top and outrageous real estate agents. Below are a couple of clips from previous seasons. If you love big properties and big personalities then I’d recommend getting into what some would describe as real estate porn!
It’s been a while since I’ve come across a stunner of a celebrity property but I’m thinking that if this one doesn’t fit the bill then I’ll never find one that will. Offered up for sale in February last year at a measly $29,000,000, Michael Jordan’s custom designed home of 20 years failed to find a buyer. Now it’s up for auction this time and if you can cough up the $250,000 just to register as a bidder then you could be in the running!
The home itself is a massive 56,000 square feet and is located on 7.39 acres of land about half an hour outside of Chicago. Whilst there is no shortage of space to sleep with 9 bedrooms available, you could go for almost 3 weeks without having to use the same bathroom twice (there are 19!) and 2 weeks without having to park your luxury car in the same spot (there are 15 heated car spaces!). Check out the agent’s video below to see more of this amazing home and not surprisingly it comes with it’s own basketball court.
I think I’d find it almost impossible to come to LA and be surrounded by so much real estate without getting out for a bit of a look. So today in sunny West Hollywood I consulted Google Maps and off I went. Whilst I would have loved to have gone up into the hills to stroll through mansions my lack of car (and multiple millions of dollars) kept me local. I selected 2 properties to view, one on the ‘If I won lotto list’ and the other was on the ‘this could be doable one day’ list. Let’s start with the home that would use up my lotto winnings.
Described as a Stunning 3 bed, 3.5 bath town home with superb finishes located near the famous and trendy Melrose Place, I’d certainly be thrilled to call this place home. At just under 1.5 million it’s not cheap, but for the location in West Hollywood and the amazing property I’d be thinking this is good value. Huge bedrooms, great bathrooms and a large outdoor area help finish off the 1 year old 2250sq foot 2 level condo.
Although the agent was assuring me that the US property market is well on the rebound I had the luxury of looking through this amazing property by myself for almost 45 minutes. I get the feeling that the level of confidence in the local property market may not be quite as positive as he indicated, or maybe all of the movie stars were off filming today. So I then packed up my bags and headed west to the other end of West Hollywood, literally the other side of the street to Beverley Hills.
This cute bungalow below is situated in an area known as the Norma Triangle and was built in 1922. This was the more realistic property I wanted to inspect, with 2 beds and 1 bath it is quoted at $787,000. OK, maybe not amazingly cheap but half the price of the previous one…and it comes with your own recording studio (formerly known as a garage). It had a completely different feel to the other property being much more homely. A fantastic hedge rose 10 feet as your front fence which appears very common in LA and looks great. There was also a nice backyard to relax in after your exhausting recording sessions. I’ve asked both of the agents to get back to me with what their rental estimates would be, I’ll be interested to see what percentage return you get.
I’d always recommend having a look at properties in other countries if you get a chance whilst travelling. I find it not only very useful to get an idea of what you can get for your money but also fascinating to see how others live!
Now here are some buildings that you wont see everyday, and you currently cannot see at all as they aren’t built, but the following ‘dynamic buildings’ designed by Architect David Fischer of Dynamic Architecture are a sight to behold. One of the first is a ‘dynamic hotel’ that was slated to be built in Dubai and if this would fit anywhere then it looks like Dubai would be it. The Dubai building would allow each floor to be independently rotated and for it to be controlled by the occupant, each floor could rotate 360 degrees in 90 minutes. See below for an impressive demonstration. Unfortunately in 2012 the building’s developer put the project on hold and announced plans for a Dynamic Tower in London.
Some of the other target cities include Paris and London among others.