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

The post Most Expensive Rental in the U.S. 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.

There’s no doubt that uber-wealthy Russians love luxurious homes–and are willing to pay billions of roubles for well-placed mansions, townhomes and luxurious estates.

In Moscow, where luxury buyers are enriched by petrodollars and enthused by strong consumer confidence, a young and wealthy businessman recently paid 2.5 billion roubles ($99 million) for a Moscow town home near the Kremlin. Setting a new Moscow record, this seven-story apartment boasts 1300 square meters of undisclosed luxury and sits near the Kursk railway station.
Russian luxury home buyers, though, invest without borders.

Donald Trump’s Palm Beach estate, was originally listed at $125 million, but Dmitry Rybolovlev, one of Russia’s wealthiest businessmen, closed on the estate at $95 million. Forbes, by the way, pegs Ryobovlev at #59 with an approximate net worth of $12.8 billion on its list of world billionaires. The fate of Trump’s former mansion? It is reported that Dmitry Rybolovlev intends to tear it down and build another.

Another Russian waterfront buy recently occurred on Britain’s ultra-exclusive Sandbanks Peninsula. There, an unnamed Russian businessman paid almost $9 million for a 5-year-old Sandbanks mansion that he, too, intends to tear down. Replacing the existing home will be an ultra-contemporary glass-fronted home–with a helipad on the beach.

Sandbanks, by the way, is listed as the fourth most expensive place in the world for real estate.

I can’t help but wonder if any of these Russian real estate investors might be interested in some of San Diego’s prime real estate. There is an exquisite Del Mar estate on 5.5 acres pf oceanfront property priced at just $76 million–or 1,952,363,937.376 Russian Roubles.

And of course, if an investor should be interested in this wonderful investment opportunity, or any others for that matter, please feel free to give me a call at either 877-818-8197 or 760-402-9101.

HT:
Moscow super-rich pour millions into luxury homes | Oddly Enough | Reuters

The post Luxury Homes: From Russia with Love appeared first on Luxury Home Digest.

Forecl—–

It’s a word softly whispered when luxury homeowners in luxe communities like Palm Beach (33480), Beverly Hills (90210), Greenwich (06831) and Rancho Santa Fe (92067) discuss their local real estate markets.

Real estate prices have been declining in many of these markets throughout the country, and some of the heavily mortgage homes are ending up as foreclosure sales. The most prominent foreclosure victim of late is Ed McMahon, whose $5 million Beverly Hills mansion was recently lost to foreclosure.

This morning, CNNMoney reports that three of the richest US zip codes saw nasty declines in home prices for the three-month period ending April 30, when compared with the prior three months. The three biggest losers?

1. Palm Beach, Fla saw a 38 percent decline in median home prices during that period, while

2. Wayzata, Minn (55391) slid 28 percent, and

3. Greenwich, Conn. dropped 15 percent.

Much of the price decline can be attributed to inflated mortgage fallout, but another transition is also contributing to the declines: Downsizing. Many of the large luxury residence owners are baby boomers who are seeking to downsize into a more convenient and connected urban lifestyle–and are doing so in growing numbers.

Not all luxury zip codes and communities are in the tank, though, according to the CNN article. For the 12 month period ending March 31, prices actually rose 18 percent in the upscale Kenilworth (60043) communiity, just outside Chicago. Other ritzy gainers included Medina, WA (home to Bill Gates just outside Seattle) with a 9 percent increase, and a 5 percent climb for Atherton, one of Silicon Valley’s suburban crown jewels.

The post The F-Word in Luxury Real Estate appeared first on Luxury Home Digest.

Who are these young and ultra-affluent buyers of homes in Rancho Santa Fe, Palm Beach, La Jolla, Aspen and Manhattan?

Robert Frank, in his best-seller Richistan, calls them instapreneurs (didn’t he coin the term?).

These are the new titans in technologies, who have benefited from a rise in financial speculation and governments that support free trade and wealth.

Instapreneurs are not plodders when it comes to accumulating wealth. They don’t develop companies to last for family generation; rather, they may launch several companies over their career life spans. And the goal for each venture is a lucrative “exit strategy” that will create the fattest windfall possible.

What are these luxury buyers seeking when searching for their trophy home?

1. They are specific in their demands as to age of property, views, room volume, luxury closets, privacy, and entertaining areas.

2. Instapreneurs often wish to be near prestigious country clubs, where they can golf, play tennis and entertain business elite.

3. In San Diego, many of these nouveau uber-wealthy demand ocean frontage, ocean noise–and silent streets. Or the highest penthouse in downtown San Diego. The want what is rare, what is singular.

4. Instapreneurs often have children, and are concerned about the quality of nearby and private schools. How the home works for the kids can be of keen importance. Instaprenerual parents want safety, space and room for kiddie galas.

5. These luxury home buyers often have special room requests, such as a library, multiple offices, servant quarters, guest houses, snoring rooms, home gyms, massage rooms, a conservatory or even a panic room.

6. These busy people often demand to be not far from a major airport because of frequent travel demands and the desire to minimize time spent away from families.

We enjoy working with these interesting folk, not just because we enjoy finding perfect property fits, but also because of the stories we get to hear. Some have been scientists, some movers and shakers in technology, and some who just had the courage to pour everything they had into an idea whose time had come.

They all inspire and the world is a better place because of these producers.

The post Nouveau Luxury Home Buyers: Instapreneurs appeared first on Luxury Home Digest.

Last year, I wrote a short article about the worlds most expensive mansion in Mumbai, India being built by uber-wealthy Mukesh Ambani.

In addition to arguably being the most expensive private home in the world (how about $1 Billion to build?), it will also be the tallest measuring in at 42 stories. Residence Antilla, though, will only have 27 stories, due to Ambanis desire for taller ceilings.

Mukesh Ambani is reported to be the 14th richest man in the world, with estimated personal wealth of around $21 billion. He is also one of the more visible men of wealth in India.

When completed, the high-rise mansion will also be one of the most visible (and discussed) mansions in all of Mumbai, if not India and the rest of the world.

Designed to house Ambanis fortunate family of six and a doting staff of 600, this enormous mansion will also have six floors dedicated to pampered storage and parking for a collection of at least 168 automobiles. Included in this magnificent residence will also be a full-service spa, fully-equipped gym, a home theater that should turn Hollywood moguls green, and multiple floors set aside for visiting dignitaries and guests.

The family will have to make do with the top four stories set aside for their viewing and living pleasure.

Completion date was initially set for Fall, 2008, so well keep an eye on its progress.

In the meantime, I am hoping for an invitation to the Ambani housewarming gala.

The post Most Expensive Mansion in the World: Redux 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

The post Bargains in Luxury Real Estate appeared first on Luxury Home Digest.

by Roberta Murphy

It is a tough task in relativity to define a luxury home.

One’s perspective has as much to do with the definition as does the opulence, location or architectural significance of a particular property. One man’s simple home is another man’s castle, and vice versa.

Perhaps it is easier to consider what a luxury home is not. It is not a cookie cutter home in a subdivision tract, even if it is magnificently appointed. Why? It is probably lacking in presence, in architectural originality and may very well be lacking in coveted location.

New subdivisions throughout affluent communities are abounding in 5000 square foot stacked boxes with crown moldings, coffered ceilings and granite surfaces. The prices may reach seven figures, but do they really qualify as luxury homes? I have argued this with other luxury home specialists, and as soon as we agree upon a particular standard, exceptions to the rule emerge.

I am one of several directors with Windermere Exclusive Properties’ Distinctive Properties division in San Diego, CA. Luxury real estate in San Diego County is our specialty. It is our task to collectively approve or disapprove a listed property for that coveted “Luxury Home” designation.

It has proven to be a sometimes-difficult task. Price alone does not distinguish that status. It is location, property entry, arhcitecture, decor, decadent amenities, entertainment capability, lovely grounds and myriad other details that help a home stand out from the ordinary. A supersized McMansion does not qualify as a luxury home, unless it has the requisite extras, superior location and a view…perhaps. Or what about a cute $2 million cottage in Malibu that lacks both architectural clout and luxe surfaces? Does exquisite location make up for a dated or tacky interior? An architecturally significant home on a Midwestern prairie might qualify, even though it lacks in modern opulence.

As discerning and honest luxury real estate professionals, we believe we know one when we see it–especially when the home has all the markings of luxury, location and panache. What I am hoping occurs within this site is the discussion and display of luxury homes. I hope we can discuss trends, touches and tools that help to define the luxury home and luxury living. I am hoping we hear not only from Realtors, but from interior designers, builders, home stagers and other seasoned professionals who contribute to the luxurious homefront.

And from this continuing interchange, perhaps we can develop ongoing relationships where we can share information, ideas, trends–and perhaps even referrals to those professionals we will have come to know and respect.

The post And Just What Is A Luxury Home? appeared first on Luxury Home Digest.