Larry Ellison’s ex-wife Barb Ellison aims to sell her 200-acre horse farm in Oregon. Ellison is asking $19.5 million for the property, known as Wild Turkey Farm, according to the Wall Street Journal. It is about 16 miles south of Portland. Ellison breeds horses at the ranch, where she has lived since completing the 10,000-square-foot main house in 2011. The property includes a 2,500-square-foot guest house and a number of equestrian facilities that she had
2 Hong Kong resi towers to be demolished over defects
New World Development Company will demolish two residential towers at its popular Pavilia Farm complex in Hong Kong over construction defects. The developer announced it would tear down and rebuild blocks 1 and 8 at Pavilia Farm III, according to Bloomberg. The company said that some concrete sections of the buildings were weak and did not meet design requirements. The move comes after the June 24 partial collapse of Champlain Towers South condo development near
Jeffrey Epstein’s 8K-acre New Mexico ranch hits market
A massive New Mexico ranch that had belonged to the late convicted sex offender Jeffrey Epstein is hitting the market for $27.5 million. The 8,000-acre Zorro Ranch outside Santa Fe includes several homes and a private airstrip, according to the Wall Street Journal. The main house spans 30,000 square feet. Epstein killed himself in a Manhattan jail in 2019 while facing sex trafficking charges. Earlier this year two other properties Epstein had owned were sold.
Michael Amini, the “King of Bling,” seeks $69.8M for custom Newport Coast mansion
Furniture mogul Michael Amini has listed a Newport Coast mansion that in all ways befits his nickname as the “King of Bling.” Amini is asking $69.8 million for the elaborate, 15,500-square-foot home and roughly half-acre lot at 6 Midsummer, according to the Wall Street Journal. Amini bought the property for $5.1 million in 2007 with plans to build himself a house, but the recession delayed plans and work started in 2013. The “Palais de Cristal”
Phat flat: Hedge funder nears deal for $153M London penthouse
Hedge fund billionaire Suneil Setiya is said to be in talks to buy a massive London penthouse for around $153 million. The 14,000-square-foot unit that the Quadrature Capital founder is eyeing is located in the luxury residential complex known as One Hyde Park, according to Bloomberg. The unit has no internal walls and is completely unfinished, making its price tag all the more jaw-dropping. The deal would be one of the priciest residential sales to
Here’s a look at Rob Gronkowski’s Miami condo ahead of Super Bowl LV
Tampa Bay Buccaneers tight end Rob Gronkowski will have his lofty Miami condo to go home to following Super Bowl LV this weekend. Gronkowski, known as The Gronk, paid $1.7 million in 2019 for the four-bedroom, 3,850-square-foot unit at Marquis, a downtown Miami condo tower at 1100 Biscayne Boulevard. After he retired from the New England Patriots, Gronkowski joined his then-former teammate, Tom Brady, in Tampa last year. Less than a week after Gronkowski announced
Windsurfing legend lists expansive Hawaii estate for $18M
Windsurfing legend Robby Naish has listed his huge Hawaii compound for $18 million. The 73-acre property sits on the north shore of Maui and spans a half mile of coastline, according to the Los Angeles Times. The main 6,000-square-foot house sits at the end of a palm tree–lined drive. The house, finished with koa wood accents, is modern and has a large open living room that opens to the pool out back. The five-bedroom, 4.5-bathroom
WNBA star Candace Parker buys $4M Los Angeles farmhouse
Basketball superstar Candace Parker is making real estate moves: Variety reported that the Los Angeles Sparks forward has purchased a $4 million modern farmhouse in the Tarzana area of Los Angeles’ San Fernando Valley. The two-time MVP of the WNBA previously owned a home in Encino with her ex-husband, former NBA player Shelden Williams. The couple sold that home for $3.8 million in 2018, according to the publication. Parker’s new 6,300-square-foot home, built on spec,
Musician Nicky Jam relists Palm Island home at a loss
Nicky Jam is trying again to sell his Miami Beach home — and this time, he’s looking at taking a loss. Jam paid $3.4 million for the 3,600-square-foot home in Palm Island two years ago, but is now asking just $3.3 million for the property, according to Variety. He first tried selling the home last year with an asking price of $3.65 million. The ask was eventually dropped to $3.5 million. Eventually, it was taken
Real estate agents turn to influencers to help sell a lifestyle — and apartments
It takes a bit more work to move residential units in New York City these days and agents are upping their marketing game on social media. Some prospective buyers could be hesitant to see units in person unless it jumps out at them amid the pandemic, according to Bloomberg News. Agents are looking to get eyeballs on units where potential buyers spend a lot of their time. Enter the social media influencer. “We’re seeing that
Cherry tree’s gone, but rest of estate will cost you $60M
A 16,000-square-foot mansion situated on a piece of American history is about to hit the market for $60 million. The massive home, known as River View Estates, was built on land that was once part of George Washington’s Mount Vernon estate, according to the Wall Street Journal. It’s reportedly the most expensive home listing ever in Alexandria, Virginia, which is about eight miles from Washington, D.C. The mansion is owned by Robert Stevens, a former
J-Lo and A-Rod list Malibu beach house for $8M
Baseball star Alex Rodriguez and entertainer Jennifer Lopez are looking to shed a Malibu beach house they bought less than two years ago. The couple is asking $8 million for the three-story property on Malibu Road, according to the Los Angeles Times. They paid former owner and actor Jeremy Piven $6.6 million for what Lopez last year called “a little fixer-upper next to the water.” The couple renovated the property last year with the help
Ghislaine Maxwell was hiding out in a rural New Hampshire estate when she was arrested
The search for Jeffrey Epstein confidant Ghislaine Maxwell took federal agents to a rural estate in central New Hampshire. Federal agents found Maxwell at a 156-acre estate that she appears to have purchased in December for $1.1 million, according to the New York Post. Federal prosecutors said she appears to have purchased the property “through a carefully anonymized LLC.” Maxwell fled to a bedroom when agents rang the doorbell at the gate, but eventually surrendered
Brooklyn landlord voluntarily waives April rents at all 18 properties
Mario Salerno isn’t the only good landlord in the city of New York, but he’s quickly becoming one of the most well-known. Salerno waived rents for all 80 tenants in all 18 of his apartment buildings — no questions asked — to ease the financial pressure felt by many in the age of coronavirus, according to the New York Times. Residents found signs from Salerno posted near their buildings’ front doors informing them that he
These small US cities have exploding luxury markets
The shift from the nation’s top markets to secondary markets is accelerating. Coldwell Banker’s “State of Luxury 2020� report picked out several secondary markets to watch alongside some larger markets that still have room to grow, according to Inman. The top markets to watch are Boise, Idaho; Charlotte, North Carolina; Colorado Springs, Colorado; Cincinnati, Ohio; and Fort Worth, Texas. The list was based on an analysis of job and population growth against sales-price-to-list-price ratios, days
Real estate created the Chinese elite. Here’s what happens next
Real estate seems the best way to amass a fortune in China, according to the country’s elite. A UBS Group AG survey of 76 wealthy families found that 30 percent of respondents said they built their fortunes through real estate, twice the percentage of wealthy families elsewhere in the world, according to Bloomberg. Consumer discretionary and industrials were the next most common means of wealth-building in the country. The average net worth of respondents was
Mark your calendars: These are NYC’s top real estate events next week
There are two new real estate events coming up next week! Host: Commercial Observer Date: September 24 Time: 7:30 a.m. to 10:30 a.m. The Commercial Observer is holding its 3rd Annual Downtown Forum at 225 Liberty Street from 7:30 a.m. to 10:30 a.m. Come to this event to network and to discuss the driving forces behind Lower Manhattan’s growth as a submarket. Speakers include Ric Clark of Brookfield Property Partners and David Falk of Newmark Knight …
Corcoran says “criminal” hackers leaked agent splits
The Corcoran Group said it was hacked Friday after a stunning email containing agent splits, marketing budgets and gross commission income was sent to the entire company. Sources said the email came from Bill Cunningham, Corcoran’s president of sales. It landed in inboxes in mid-afternoon before being quickly retracted — but not before news of the breach ricocheted through the industry. “It’s the most privileged information at a real estate company” aside from client information, …
This week in celeb real estate: Howard Hughes’ former Beverly Hills home hits auction block, Brie Larson takes a loss…and more
Los Angeles homes linked to two Oscar-winning actresses and an Oscar-winning director made the news this week. Brie Larson — Laurel Canyon — and Reese Witherspoon — Zuma Beach — both sold their houses. In Encino, the former home of director Ron Howard hit the market. The Beverly Hills home that once belonged to tycoon and Hollywood producer and director Howard Hughes was set to be auctioned off. And a Kanye West creation, the “Star …
National slowdown claims its first major-city victim: Seattle home values
A decline in Seattle-area home values is the first in years in a major U.S. metropolitan area, a leading source of real estate data reported. Single-family home prices in May fell 1.2 percent, compared with the same month last year, according to fresh data from S&P CoreLogic Case-Shiller. Kelly Meister, a Seattle-based broker for Compass, said home prices appear more uneven than a year ago from one neighborhood in the city to another. “The Seattle market …
The states with the biggest share of vacation rentals aren’t where you’d think
Year-round sunshine didn’t help Florida make it to the top of this vacation rental ranking. The states with the highest percentage of vacation homes are clustered in the Northeast, Bloomberg reported, citing a new study from investment property exchange firm IPX1031. Maine topped the ranking, with 19.3 percent of its homes being used as vacation rentals. Vermont came in second, at 17.4 percent, followed by New Hampshire, at 11.8 percent, and Alaska clocked in at …
This Silicon Valley home hit the market in Larry Ellison and Sheryl Sandberg’s town
Silicon Valley mainstay David Sacks is selling his 11,000-square-foot home in Atherton, the area’s most exclusive town that’s home to numerous tech titans. Sacks is asking $22.5 million for the six-bedroom home, according to Variety. Last year, homes in Atherton sold for a median of $6.7 million, making it the most expensive area to buy a home in the country. Average annual household income in Atherton is around $450,000, according to Business Insider. Residents include
“Empire” mansion still looking for buyer after 6 years and 40% price cut
A 17,000-square-foot Barrington Hills mansion frequently seen on the Fox TV series “Empire” has yet to find a buyer despite a 40% price chop from its original asking. The home at 45 Lakeview Lane originally listed for $15.9 million in June 2013. Now it’s listed at $9.5 million, according to Crain’s. The 8.5-acre estate regularly has been featured as the mansion of actor Terrance Howard’s Lucious Lyon character since 2014, but owners Sam and Geralyn …
Hamptons resi brokers remain resolute, despite a slumping luxury market
For Bespoke Real Estate’s Vichinsky brothers, sitting atop a ranking of the top residential brokers in the Hamptons is not unfamiliar territory. The duo landed in the No. 1 spot in The Real Deal’s 2019 ranking of ultra-luxury brokers — those who closed the highest sales volumes of homes priced at $10 million or more. And in years past, the Vichinskys sat atop previous TRD rankings that included sales of homes priced under that amount on …