by Roberta Murphy–At $600,000 per month, the Beverly Mansion in Beverly Hills, is most likely contender for most expensive luxury rental in the nation.  And it’s got an interesting history as well.

• It was in the Beverly Mansion that the infamous horse-head-in-bed scene was filmed for The Godfather.
• John F. Kennedy and his bride honeymooned in the Beverly Mansion.
• Kevin Costner and Whitney Houston filmed scenes for The Bodyguard here.
• Marion Barries bought the manse for William Randolph Hearst in 1946 and it was at the Beverly Mansion that he spent the rest of his days.

With 50,000 square feet, the estate has 17 bedrooms, 29 bathrooms, a 50-foot entry hall with loggia, and museum-quality ceilings that soar 22 feet in the living area.  The dining room is elegant, but the outdoor terrace will easily seat 400 for al fresco dining.

As might beexpected on this 3.7 acre estate, there are massage rooms, gym, lighted tennis court, staff offices and quarters, art-deco night club, wine cellar, billiard room, commercial kithen and so much more.

The Beverly Mansion is also offered for sale at $115,000,000. and private showings might be arranged courtesy of Hilton and Hyland. For additional information, contact Roberta Murphy at 877-818-8197 or email Roberta@SanDiegoPreviews.com

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(It is with sadness that we learned of Michael Jackson’s death due to a heart attack this afternoon, apparently at his Holmby Hills mansion.  In the days ahead, many will be wondering about the fate of Neverland. Our prayers and kind wishes are extended to the Jackson family.)

Over two years ago, we were speculating about the fate of Michael Jackson’s Neverland and wondered if it would become a Ghost Land instead. The animals were gone, helicopter landing pads were still–and recently, according to the Wall Street Journal, bats took to hanging from the doorway over Jackson’s once-famous gaming arcade, leaving piles of guano below.

Thought Neverland could never come back to life? Well, never say never.

A year or so ago, Michael Jackson defaulted on his $24.5 million mortgage which was bought for $23 million by a Los Angeles investment group. They, in turn, formed a private partnership with Jackson with the intent of bringing Neverland to a fruitful investment. There is speculation that the Santa Barbara County property could eventually and realistically be worth $70 to $90 million.

In the meantime and to date, Colony Capital LLC has spent over $3 million and hired 80 workers to rehabilitate Neverland. Electrical and plumbing systems are being brought up to date, and landscaping is being redone. The Neverland gates, amusement rides and zoo may be gone, but evidence of Neverland’s former glory remain–including two railway lines , a 50-seat theater and the English Tudor-styled buildings.

Michael Jackson paid $19.5 million for Neverland in 1987 and poured hundreds of million into it over the next 18 years. In 2005, after Jackson was cleared of child molestation charges, he swore he would never return to Neverland. The estate was abandoned in July of that year and was reported to have been subsequently marketed to David Beckham and his wife, Victoria (Posh Spice). The price tag expected in those heady real estate days?

$50 million.

Neverland may have been decimated not so much by Michael Jackson’s legal troubles, or even its eventual neglect, but by market conditions that have decimated property and home values all over the country. And perhaps Neverland’s sale at $23 million simply reflects a market bottom–of sorts.

The post Neverland to Go on Market Again? appeared first on Luxury Home Digest.

In 2006, we reported that Candace Spelling, 63, and widow of the later Aaron Spelling, was shopping for a $150 million buyer for her Holmby Hills home:

….Candy Spelling, widow of the late Aaron Spelling, has quietly put their legendary 56,000 square foot, 123-room Holmby Hills mansion on the market for $150 million. Sources say the Westside Estate Agency (WEA) has the pocket listing and that the property is being discretely shopped among Realtors and their potential buyers.

It is now, at last, officially listed for sale.

Built in 1991, nobody has an exact count of rooms in the Spelling Manse these days–including the listing Realtors. Among the more luxurious, though,  are a bowling alley, wine cellar and tasting room, a humidity-controlled silver storage room, China room, gift-wrapping rooms, library, gym, media room and one of Spelling’s enduring entertaining favorites: The screening room, where the projection screen emerges from the floor at the same time windows are automatically shaded.

The Spellings also finished off the home’s substantial attic and had a barber and beauty salon installed.

The servants’ quarters alone feature a large kitchen, 7 bedrooms, 5 fireplaces and 4 wet bars.

Outdoors are 18th century gardens and citrus orchard, swimming pool and spa, reflection pool, waterfalls, and spacious pool house with a kitchen.  Additionally, there are 16 car ports and room for valets to park over 100 cars.

This luxurious mansion sits on 4.6 acres, is a neighbor to the Los Angelese Country Club –and is the largest home in Los Angeles County.

Where will the owner move once the home is sold? Candy Spelling has already purchased a $47 million 2-story penthouse that crowns a residential tower in downtown Los Angeles.

And yes, I would love to represent the buyer for this property!

The post Spelling Mansion “Officially” for Sale appeared first on Luxury Home Digest.

I love living in coastal San Diego, but have a special appreciation for mountains and mountain lakes. Among other mountain attractions, its the regularity of seasons, the deep blue water, the towering pines, and the snow pack that accumulates each winter.

It is easy to imagine such natural beauty.

Now, imagine a 210-acre mountain estate in Lake Tahoe (the tax-free side) with its own serene private lake and an updated, 70-year-old, 38,000 square foot mansion complex. Offered through Chase International, Lake Tranquility’s splendid main residence replicates many important rooms in our Western culture.

Included items are:

• A replica of the grand staircase on the SS Titanic. Ahhh.
• A cushy cigar lounge fashioned after the one at the St. Regis Hotel. Breathe deeply.
• A library that mimics the New York City Public Library. Shhh

This luxurious home includes a 3500-bottle wine cellar, 9 bedrooms, 18 baths, a gymnasium with basketball court, a guest house, art studio, boat house pavilion, horse stables, staff quarters, and two over-the-water par-three golf holes. The conservatory is accessed via an underground passage. There, you are greeted by an indoor mosaic glass swimming pool with poolside bar and exercise facilities all overlooking Tranquility Lake.

The exquisite natural setting provides trails for hiking or cross country skiing and incomparable views of Lake Tahoe and its magnificent surrounding mountains.

Tranquility is offered at $100 million. The owner is reported to be Joel Horowitz, co-founder of the Tommy Hilfiger empire.

If this is a property that might suit your portfolio, please call me at 877-818-8197 or 760-402-9101. An appointment with knowledgeable representation can be arranged.

The post Most Luxurious Home in Lake Tahoe appeared first on Luxury Home Digest.

by Roberta Murphy

To paraphrase Charles Dickens, these may be the best of times and the worst of times at least with San Diego real estate.

Few are surprised that the real estate bubble popped in the plethora of new home subdivisions that peppered San Diego County in the last few years.

Stupid loans and and unwitting buyers created a marriage that has crippled the real estate industry.

But not all markets and communities suffer in the same way,

For example, few would consider Rancho Santa Fe, California real estate a bargain, when single family Rancho Santa Fe homes start at $1.15 million and currently peak at $29.9 million.

Moreover, only 16 of the current 167 active listings in RSF are priced under $2 million.

The bargain bin of real estate? Hardly!

Still, we have stumbled across a few notable buys:

• A 3220 square foot Del Rayo Downs home in Rancho Santa Fe was purchased for $1.74 million on 3/14/2006. It is vacant, in lovely condition and has been reduced to $1.395. The owner will even consider a trade.
• A gated, private and single story Mediterranean estate with over 5000 square feet on one acre just closed escrow at $2.1 million. It needed TLC, but the lots and bones were probably worth the total price. Located just outside Fairbanks Ranch.
• A 19.4-acre gated Covenant estate was listed at $29.5 million last August and closed escrow at a paltry $21 million last month. It was reportedly a cash sale.
• A Notice of Default has been filed against a lovely and very spacious 3-bedroom Rancho Santa Fe condo that has recently been reduced to around $1.2 million. I am already calling clients on this one.
• Another Rancho Santa Fe townhome was reportedly purchased for $1.675 million in the summer of 2005. It is now on the market at a value range of $1.3 to $1.4 million, has assumable financing, and guaranteed golf membership in the Rancho Santa Fe Golf Club .

Do we expect Rancho Santa Fe real estate pricing to fall off a cliff?

No way.

But it is certainly worth our time to scout the market to find sound values such as these.

Moreover, many who are now home shopping in Rancho Santa Fe and other luxury neighborhoods now can thank their lucky stars that they werent buying two years ago.
If you would like more information on Rancho Santa Fe or other San Diego luxury real estate, just give me a call at 760-402-9101 or 877-818-8197. You may also email me: roberta@sandiegopreviews.com

Read also:

Luxury Builder Claims 2007 Worst in 40 Years

San Diego Irresistible to Ex-Pats and Foreigners

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