Luxury real estate. Michael Jackson’s Las Vegas Rental Home Sells

February 1st, 2010

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Las Vegas Mega Agents Zar Zanganeh and Lee Medick sold the home Michael Jackson rented in Las Vegas at 2785 S. Monte Cristo Way for $3.1 Million. The 15,461 square foot, seven bedrooms, ten bath mansion includes a tennis court, basketball court, twenty-seat theater and extensive security features on a one acre lot. The sale also represents the largest home sold in Las Vegas in almost one year.

Jackson’s Las Vegas home was sold to a doctor-lawyer couple with luxury property holdings in California and Asia who paid in cash. At 15,461 square feet, it is the largest house sold in Las Vegas in almost a year. The home became the focal point for Las Vegas fans who gathered at the mansions gated entrance to place flowers and memorabilia following Jackson’s untimely death.

Zanganeh leased the home to Jackson and his family for $1 Million for six months in late 2006 to 2007 after Jackson returned from a self-exile overseas. “It’s serendipity that we sold the home that we had also rented to Michael Jackson. The estate became famous and generated tremendous interest because of the MJ connection, in fact, the buyer is a big Michael Jackson fan,” said Zanganeh. His partner Lee Medick currently has Michael Jackson’s Las Vegas Wonderland Estate at 7000 Tomiyasu Lane listed for sale for $16.5 Million. “We are seeing significant residential real estate buyers starting to come back into Las Vegas,” said Lee Medick
Michael Jackson’s connection to both these properties brought worldwide media attention and put Las Vegas luxury property back on the radar. Medick continued, “Las Vegas residents enjoy significant tax advantages and people that buy luxury properties are savvy business people, they understand the value that being a resident of Nevada brings and the luxury lifestyle that Las Vegas provides. Plus homes such as this deliver Star-Power to the incredible architecture.” prnewswire.com

Luxury real estate. BRAD PITT AND ANGELINA JOLIE ON THE MOVE

January 25th, 2010

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Tinseltown royals and global do-gooders Brad Pitt and Angelina Jolie recently expanded their Los Angeles, California compound. The couple spent $1,100,000 on a property next door to Pitt’s long-time Los Feliz area estate.

The 2-bedroom fixer-upper adds a sixth property to Pitt’s multi-parcel spread, which ought to give the pretty pair plenty of room to house their ever expanding United Nations style family.

Academy and Golden Globe nominated Pitt – always a brides maid and never a bride – snatched up the first and most significant portion of his compound way back in 1994 when he forked over $1.7 million for a 5,760 square foot Craftsman-style house with 5 bedrooms.

By mid-2008 the actor had hitched his wagon to Oscar winning earth mother Angelina Jolie and spent another $2.142 million on four adjacent properties. The most recent addition to the comely couple’s seemingly always under construction real estate puzzle brought Pitt’s total outlay to $4.993 million and gives the multi-cultural family almost two contiguous acres on which to roam.

Celebrity real estate. Madonna Keeps On Buying

December 20th, 2009

Pop superstar MADONNA is delving back into the property market, just days after spending $10 million on a horse farm in New York - she’s eyeing a $4.4 million house nearby for her stable hands to live in.

The Material Girl paid the eight figure sum for Wild Ocean Farm in the Hamptons, buying the 30 acres of land from designer Calvin Klein’s wife Kelly.

There’s no house on the farm and planning laws prohibit the star from building on the land - forcing her to look elsewhere for somewhere to house her staff.

According to the New York Post, Madonna has set her sights on a four bedroom farmhouse close by, which is currently owned by Michael Minkoff, a friend of the singer’s pal Gwyneth Paltrow.

The 1930s building boasts four bedrooms, a pool, poolhouse and two barns - and comes with a $4.4 million pricetag.

Bank forecloses on New Orleans haunted houses owned by celebrity Nicholas Cage

November 25th, 2009

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In celebrity real estate news actor Nicholas Cage has made big headlines for going broke and needing to sell his homes around the world. It seems, however, that he was unable to sell two properties in particular in the city of New Orleans, Louisiana and both foreclosed on Nov. 13, 2009. Why? Because local residents claim the houses are haunted and no one wanted to buy them.

It is believed that Cage bought the homes specifically due to their spooky past. Apparently he thought it was a good idea at the time or else he would not have done it.

Cage claims a poor financial advisor directed him to buy the property selections he did, but most people would not follow advice on buying a home that they would always feel uneasy setting foot in due to claims of haunting.

However, as now evidenced by the current market value, buying stigmatized properties is seldom a good idea is you ever plan to resell for profit.

According to a variety of celebrity news sources, Cage previously bought another New Orleans property in the Garden District from noted horror writer Anne Rice.

CNN also reports that Cage owes more than $6 million in back taxes. His properties in California and Las Vegas, although not reported to be haunted, “have also been foreclosed on and are designated for auction later this month.”

Celebrity real estate: the Eddie Murphy Manor

November 10th, 2009

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Good news for people with an excessive but not insane amount of money: the economic real estate burn has caused Eddie Murphy to slash his 32-room estate’s price by half. He’s now only asking for $15 million for the Bubble Estate. He’s like the Crazy Gideon of real estate! Hurry before he changes his mind! PS. Read Crazy Gideon yelp reviews for good entertainment.

The estate sits where most people fantasize about retiring and living like kings: Englewood, New Jersey. It’s only ten minutes into New York City! Or you could just spend that money on a place IN the city or in one of the wealthier communities up the Hudson.

The 8 bedroom, 11 bath home boasts a screening room, bowling alley, racquetball court, and carriage house with a gym.

Celebrity real estate. Joan Rivers and her haunted apartment

October 26th, 2009

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A friend recommended Joan to look at a Manhattan penthouse apartment for sale that used to be the ballroom of a large mansion. Rivers was enamored with the space and put ‘all of her energy’ into renovating the run-down apartment. One Labor Day weekend when the workmen were gone, she dropped by her new home to check on the progress. It was a very hot night, but the apartment was freezing cold. Her dog, a ‘little yorkie’, refused to enter and bizarre ‘pornographic writings and markings’ were scrawled on the walls. She complained to the doorman, who said, ‘Oh, I guess Mrs. Spencer is back.’

Mrs. Spencer, allegedly a niece of J.P. Morgan, used to occupy the entire building as her private residence. As she grew older, she rented more and more of the building out until she resided in an apartment that what was once her ballroom. After passing away in ‘the ballroom’, her spirit reportedly returned and ‘did things’ to residents, such as tear the heads off of every cherub in a neighbor’s chandelier.

Joan’s discomfort in the apartment grew. It was freezing even when she blasted the heat. Her dog continued to refuse to enter, and the workmen ‘didn’t want to be there either’. The NYU parapsychology department reportedly referred Rivers to a voodoo priestess from New Orleans. The voodoo priestess flew in and met Rivers at her apartment. The priestess began communicating with Mrs. Spencer and claimed that the former owner still considered herself the ‘grand dame’ of the building and was furious that the residents were defiling her home. After an exhaustive exorcism involving ‘chanting…and drumming’, the priestess assured Rivers that Mrs. Spencer had departed. According to Rivers, she felt an immediate difference in the space, and even though it was now 2:30 am, she went door to door with the priestess offering to cleanse the neighbors’ apartments. ‘Not one neighbor refused.’ Rivers said. ‘Everybody had a story.’

After moving in, ‘things started again’. Her dog once again behaved strangely. The apartment was frigid and Rivers complained that her ‘electrical things’ constantly went haywire. Mrs. Spencer was apparently back. Despondent, Joan addressed Mrs. Spencer directly, pleading for the specter to leave her in peace. Shortly afterwards, she found a portrait of Mrs. Spencer and hung it in the lobby of the building. Rivers said she then received a telephone call from the voodoo priestess claiming that Mrs. Spencer had appeared to her to say she was pleased with Joan’s renovations and asked that Joan continue to keep fresh flowers in the ballroom. For the last eighteen years, Rivers stated, she has kept fresh flowers in the ballroom.

Rivers went on to say that Mrs. Spencer continues to visit her ‘just about every night’ at about three o’clock in the morning and that she feels comforted and protected by the spirit’s presence. ‘We’re friends,’ said Rivers. ‘It’s nice to know I have Mrs. Spencer to say good evening to every night.’

According to an article in the NY Times, an apartment Rivers bought ‘about 20 years ago’ with a ‘double-height ballroom’ was listed for sale over the summer for an astounding twenty-five million dollars. No mention of Mrs. Spencer in the article. This Vanity Fair interview appears to confirm that Rivers still occupied the apartment in August.

With twenty-five million dollars possibly on the line, is Rivers required to inform prospective buyers about Mrs. Spencer? A Corcoran real estate broker (who didn’t want his name used) confirmed that brokers are obligated to reveal if there was a death on the property if a buyer happens to ask, but that there wasn’t a law requiring brokers to disclose reports of paranormal activity.

Rivers should be advised of the landmark case Stambovsky v. Ackley in which Helen Ackley and members of her family reported to several newspapers between 1977 and 1989 that their house was infested with ghosts. In 1990, when Ackley put her house on the market, neither she nor her realtor told the buyer, Jeffrey Stambovsky, about the haunting before he signed a sales contract. When Stambovsky learned about the reported poltergeist activity, he filed an action requesting nullification of the contract of sale. The New York Supreme Court ruled (on appeal) in a majority opinion that the Ackleys’ public and persistent claims that their house was haunted were sufficient grounds for the buyer, who was not aware of the alleged haunting, to legally rescind the sales contract. examiner.com

Nicolas Cage and his real estate invesments are in trouble

October 19th, 2009

Nicolas Cage sued his former business manager for $20 million, claiming bad advice and mismanagement led him toward financial ruin.
Cage filed the lawsuit against Samuel J. Levin and his firm.

“Instead of protecting and preserving Cage’s wealth during one of the greatest economic periods in the country’s history, Levin placed Cage in numerous highly speculative and risky real estate investments, resulting in Cage suffering catastrophic losses,” the lawsuit states.

Levin served as Cage’s business manager from 2001 to 2008 and collected millions of dollars in management fees, court documents state.

Cage, 45, relied on Levin’s statements and advice and couldn’t have known about the financial trouble he was facing until after he hired new management, according to the lawsuit.

Public records show Levin has been a licensed certified public accountant in California for nearly 25 years and has no public record of disciplinary actions.

An Oscar-winning actor, Cage is known for his dramatic roles in films such as “Leaving Las Vegas” and “Adaptation” as well as action turns in “The Rock” and the “National Treasure” films.

Nicolas Cage is facing more financial woes amid reports the actor owes over $6 million (£4 million) in unpaid taxes. The Internal Revenue Service (IRS) has placed a tax lien on Cage’s vast real-estate holdings after he failed to pay income tax totaling $6.26 milion (£4.2 million) on his wages dating back to 2007, according to the New York Post.
blog.taragana.com

Celebrity Homes: Madonna buys new town home in NYC with big plans to remodel

September 22nd, 2009

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The “Material Girl” is not afraid of hunting for a good bargain in today’s real estate market. Madonna, acting as a savvy investor and international property shopped, picked herself up a new investment during the Summer 2009 real estate down-turned market.
Thanks to the American economic recession and many less fortune-laded millionaires fleeing New York due the “Millionaires Tax”, the cash laden maven of pop culture stardom was able to buy a lovely residence (a town house) in the Upper East Side of New York City for a mere forty million dollars.
Because the house is has a dated feel, it is likely Madonna will remodel the prime location home.
Madonna, known for perpetually remaking and remodeling herself, is not afraid of hard work or without creative inspiration. As such, a property in the right place, at the right price, and with the right potential for reconstruction inspired the international singing sensation, new divorcée, and movie star to purchase. Examiner.com

BRUCE WILLIS IS LOOKING FOR A NEW HOME

August 20th, 2009

Bruce Willis and his model wife, Emma Heming, may be on the hunt for a new place to call home.

The newlyweds were spotted taking a tour of L.A.’s megapricey Carlyle Residences.

In the 24-story building from the owners of New York City’s legendary Plaza Hotel, apartments start at $2.9 million, with penthouses going for as much as $15 million, according to real estate website Curbed LA.

A current listing for a 3,535-square-foot apartment with three bedrooms and four-and-a-half baths is listed for a mere $5.1 million. Fendi Casa has designed the common areas. Amenities include a Sports Club/LA gym, library, dining room and even a wine cellar.

No word on whether Mr. & Mrs. Willis made mention of needing a baby nursery in their new pad.
ca.eonline

Foreclosure News. Star Stephen Baldwin’s Foreclosed Home Going Under The Hammer

June 15th, 2009

The youngest of the Baldwin brothers’ New York foreclosed home is being put up for public auction while he is participating in the reality show “I’m a Celebrity… Get me Out of Here!”

The 43-year-old actor and his wife Kennya paid $515,000 for their 1.4-acre home in Rockland County in 1997. The couple tried to sell it in 2006, but failed. They reportedly defaulted on more than $824,000 in payments to mortgage holder Bankers Trust Co.

They also owe National City Bank for a separate mortgage and may owe thousands of unpaid state and federal taxes on the property, LoHud.com reports.

Their Old Mountain Road home will be going under the hammer on June 24 at Rockland County Court.

Stephen is a contestant on the NBC reality show, which is currently filming in Costa Rica.

Source: allheadlinenews