Raphael Stevens

More stories

  • 200 Shares189 Views

    in Luxury

    A Chinese Billionaire Just Spent More Than $250 Million on Lavish Mansions Spanning Half the Globe

    Three months ago, Asia-based real estate blog Mingtiandi reported on the sale of one of Hong Kong’s most extravagant homes, a nearly 12,000-square-foot hilltop mansion in the ultra-prestigious Peak neighborhood. The house, a limestone-faced and liberally embellished two-story structure with unobstructed views of the city skyline and Victoria Harbour, sold for HK$838 million, or roughly $107 million USD.

    The sale was notable not just because it ranks as one of Hong Kong’s biggest real estate deals over the past couple of years, but because it’s one of the few ultra-luxury Hong Kong homes that have sold to a Mainland Chinese buyer in recent years, amid an ongoing Hong Kong housing slump and a sluggish mainland economy. Per property records, the house was acquired by an entity controlled by a Shenzhen-based woman named Gu Fang.

    The palatial mansion sold for a discounted $107 million in early 2024, a rare bright spot in Hong Kong’s sluggish real estate market.

    Google Earth

    People familiar with the properties now tell Robb Report that the same woman, Gu, is also directly linked to the purchase of three of the most expensive U.S. homes that have sold in the past 18 months, two of them being high-profile estates with Hollywood celebrity ties. In October 2022, a mystery buyer paid $55 million for the Newport Coast mansion of reality TV personalities Dr. Terry and Heather Dubrow. Four months later, a mystery buyer dropped another $55 million on the wildly extravagant Beverly Hills mansion of actor Mark Wahlberg.

    Although the new owner’s name was not revealed at that time, it was widely reported that both the Dubrows’ home and Wahlberg’s estate were acquired by the same buyer, an anonymous Mainland Chinese billionaire now believed to be directly associated with Gu.

    In late 2022, Heather Dubrow’s 20,000-square-foot Newport Coast mansion sold for $55 million to an LLC linked to Gu Fang.

    Google Earth

    Gu, believed to be in her 50s, is the longtime wife of Xu Hang, one of China’s richest men and the co-founder of Mindray Medical, China’s largest medical device manufacturer.

    It’s perhaps not such a surprise that Xu and Gu would be on the hunt for ultra-luxury homes, despite China’s broader economic slowdown. The Covid-19 pandemic proved extraordinarily lucrative for Mindray; in 2020, the net worth of company cofounder Li Xiting—Singapore’s richest man—was reported to be increasing by a mind-bending $1 billion per month due to high worldwide demand for ventilators. As for Xu, Forbes says his personal net worth has likewise ballooned over the past few years, from $1.8 billion in 2018 to a peak of $19.5 billion in 2021. The Bloomberg Billionaire Index pegs his current wealth at $12.1 billion, making him Shenzhen’s richest man, while Forbes notes he is the world’s fourth-wealthiest man in the healthcare industry.

    Located in the Beverly Park gated community, Mark Wahlberg’s house sold in early 2023 for $55 million to an LLC linked to Gu Fang.

    Google Earth

    As it turns out, the Beverly Hills, Newport Coast and Hong Kong mansions are not the only extravagant homes in Xu’s portfolio. In early 2023, billionaire real estate developer Stephen Ross sold his mansion-sized penthouse at the Time Warner Center in New York City for $40 million, a major discount off the unit’s original $75 million ask. The buyer, records show, was yet another LLC with links to Xu and Gu.

    A lavish penthouse at Manhattan’s Time Warner Center sold in early 2023 for $40 million to an LLC linked to Gu Fang.

    Getty Images

    Putting all four purchases together reveals Xu has spent $257 million—in cash—on luxury real estate since late 2022, though it’s also worth noting that the tycoon has scored major discounts on at least three of his four new properties. The Hong Kong manor, sold for $107 million, had been originally offered at a lofty $166 million. Similarly, the Wahlberg house and Manhattan penthouse were also acquired at substantial discounts—the Wahlberg property at a 37% discount off its $87.5 million list and the N.Y.C. place at 47% below the original ask.

    In all, Xu shaved off a combined $126 million from the asking prices three homes alone. The fourth property, the Dubrow estate, was never officially listed on the open market, though it had reportedly been marketed as a pocket listing with an asking price of more than $60 million. More

  • 125 Shares119 Views

    in Luxury

    This Extravagant L.A. Mega-Mansion Is Heading to Auction Next Month

    Back in 2005, well before his 2019 death, fashion icon Max Azria doled out $14.4 million for a historic Paul R. Williams-designed residence in the affluent Holmby Hills enclave of Los Angeles. The BCBG Max Azria founder and his wife Lubov then spent the next several years and many millions of dollars extensively renovating the property from top to bottom, before hoisting the place back up for sale with a nearly $70 million bump in price.

    Since it first hit the market nine years ago for a whopping $85 million, records show the estate has been on and off the market for as high as $88 million and as low as the current $55 million asking price; and it also was offered for rent along the way for as much as $400,000 per month and used as a filming site. Now, with the house remaining unsold, listing agents Rayni Williams and Branden Williams of The Beverly Hills Estates have opted to put the 60-room spread under the gavel via Concierge Auctions, with bids expected to start at up to $38 million.

    Married designers Lubov and Max Azria paid Sidney Sheldon $14.4 million for the Paul R. Williams-designed residence in 2005.

    Monica Schipper/Getty Images

    Originally commissioned by radio star Charles Correll in the late 1930s to the tune of $70,000—and subsequently occupied by Oscar-winning writer, producer and novelist Sidney Sheldon, who reportedly added 10,000 square feet to the premises—the sprawling compound is tucked away behind a lengthy gated driveway and spacious motorcourt with room for more than 20 vehicles. Multiple structures offer a total of 14 bedrooms and 25 baths spread across a whopping 30,000 square feet of recently updated living space.

    Glitzy amenities include an office overlooking skyline views and a 5,500-square-foot movie theater with its own concession stand, as well as nine fireplaces, a gold-domed library, wet bar-equipped game room, gym, wine cellar, catering kitchen and staff accommodations. There’s also a pool house-turned-wellness center outfitted with a sauna, steam shower and massage area.

    A parquet-clad living room is showcased by a decorative arched fireplace, music nook and French doors leading outside.

    Marc & Tiffany Angeles

    Other highlights include an elegant double-height entry foyer resting beneath a skylight and displaying a sweeping bridal staircase, plus a living room sporting parquet floors, a fireplace, music nook and wall of French doors spilling out to a terrace. A formal dining room is topped by a silver-leaf ceiling, a spacious gourmet kitchen has two islands and high-end stainless appliances, and an opulent primary suite is decked out with a fireside sitting area, private balcony, large showroom-style closet and luxe bath.

    Rounding it all out are the garden-laced grounds, which host an infinity-edge swimming pool flanked by a sundeck and grassy lawn, along with a fire-pit lounge area, glass-walled tennis court with an elevated viewing box, greenhouse for growing produce, koi pond and an al fresco tea room.

    Outdoor amenities include a tennis court with a viewing platform.

    Marc & Tiffany Angeles

    According to The Wall Street Journal, which first reported the upcoming auction, Azria’s widow hasn’t lived in the property for several years. Lubov has decided to sell because she now resides in L.A.’s Venice Beach neighborhood, where she operates an art gallery. “It’s literally just me. My youngest is 27,” she told WSJ. “I’m now into moving on with my life.”

    Private previews of the property are available upon request, with bidding for the  no-reserve auction set to run from May 9-23.

    Click here for more photos of the Azria estate.

    Marc & Tiffany Angeles More

  • 150 Shares109 Views

    in Luxury

    NASCAR Legend Tony Stewart Relists His 415-Acre Indiana Ranch for $22.5 Million

    Restart your engines and whip out your checkbooks! NASCAR Hall of Famer Tony Stewart—affectionally known to his hordes of fans simply as “Smoke”—is officially putting his sprawling Indiana ranch back on the market. Nestled amid the outskirts of his bucolic hometown of Columbus, about an hour’s drive from Indianapolis, the luxe spread that was originally asking a substantial $30 million back in 2022 has now returned to the real estate track with a substantially lower $22.5 million price tag.

    Stewart acquired the property back in the early 2000s, razed an existing house and completed the so-called “Hidden Hollow Ranch” in 2011. It’s showcased by an almost 20,000-square-foot house crafted from lodge pole pine culled from the Northern Rockies, and comes complete with six bedrooms and 11 baths—all resting on over 400 acres of land boasting a 9-acre lake stocked with bass. A licensed hunting preserve, there’s also plenty of elk, deer and turkey roaming the grounds.

    The 415-acre property is bordered by a 9-acre fishing lake.

    The Home Aesthetic

    A professional NASCAR driver for two decades, 52-year-old Stewart retired after the 2016 season as a three-time Cup Series champion and was inducted into the NASCAR Hall of Fame in 2020. He now co-owns the Stewart-Haas Racing team with industrialist Gene Haas and also is currently fielding a Top Fuel dragster for his wife, California-born racer Leah Pruett, who is sitting out the 2024 season while the couple focuses on starting a family.

    As for the custom-designed residence that he calls his “dream home,” Stewart has previously said that “he enjoyed every square inch of the land here. There is always something to do … hunting and fishing, off-roading, or just sitting on the porch and enjoying the stars at night. It is the perfect blend of entertainment and relaxation.”

    A wood bridge crosses a koi-filled stream on its way to a voluminous great room holding a large freshwater aquarium.

    The Home Aesthetic

    Walls and gates greet, and then a lengthy driveway passes through a covered bridge before splitting into a circular drive and emptying out at a porte-cochère topped with a massive deer-antler chandelier. Double front doors provide access into the stone and pine structure, which is highlighted by a one-of-a-kind entryway boasting a two-story waterfall and koi-filled stream.

    From there, a wood bridge flows into a soaring great room highlighted by expansive picture windows, a floor-to-ceiling fireplace, an 8,700-gallon freshwater aquarium and 85-inch retractable TV. An adjacent kitchen is fully equipped with hickory cabinetry, an eat-in island, a hibachi grill topped by a commercial-grade exhaust system, high-end Wolf and Sub-Zero appliances, and a butler’s pantry. The space connects to a formal dining area and fireside family room.

    Amenities include a golf simulator room.

    The Home Aesthetic

    Six en-suite bedrooms include a master retreat adorned with a fireplace, plus a luxe bath equipped with dual vanities, a window-topped spa tub and glass-encased shower; and other amenities include an 8,500-square-foot lower level decked out with a lighted onyx bar, billiards and golf simulator rooms, a two-lane bowling alley and gym.

    In addition to the main home, there’s also a 3,500-square-foot guesthouse that’s currently being used by the ranch’s full-time gatekeeper, as well as a workshop, six-car garage, and of course, those breathtaking grounds with endless recreational opportunities. An added bonus? The place is even zoned for use as a bed and breakfast.

    The listing is held by Carrie Holle of Compass Indiana.

    Click here for more photos of Tony Stewart’s Hidden Hollow Ranch.

    The Home Aesthetic More

  • 188 Shares169 Views

    in Luxury

    Kanye West Is Now Facing an $18 Million Loss on His Tadao Ando-Designed Malibu House

    Four months ago, Kanye West put his infamously wrecked Malibu house on the market, asking a steep $53 million. To nobody’s particular surprise, there were no takers. This week, the price tag was slashed all the way down to $39 million by the home’s listing agent, Selling Sunset star Jason Oppenheim.

    It’s worth noting that the current ask is a staggering $18 million less than what West himself paid for the place less than three years ago, back in September 2021. The music mogul-turned-Yeezy fashion designer shelled out $57.3 million—in cash—for the 4,000 square foot residence, which was completed circa 2013 and designed by famed Pritzker Prize-winning Japanese architect Tadao Ando.

    But it remains unclear if West ever spent a night at the oceanfront home, which sits cheek-to-jowl between two other houses on surfer-friendly Malibu Road. Almost immediately after he bought it, West set about tearing the place apart, ripping out all the windows, doors and interior finishes. The formerly four-bedroom, five-bath house is now a vacant and uninhabitable concrete shell, with its rooms open and exposed to the unforgivingly corrosive sea air.

    Shortly after buying the house in 2021, West tore out all the furnishings and fixtures, leaving it a concrete shell.

    Backgrid

    Despite the big price reduction, buyers should be warned that the house will require many months and likely millions of dollars in renovation costs. And the current $39 million ask, while substantially improved, is a lofty figure. Other homes along this same stretch of sand typically top out around $20 million—and that’s for a brand-new or freshly rehabbed residence.

    Still, those other homes lack a Tadao Ando pedigree. West’s Brutalist white elephant remains one of only a handful of U.S. buildings designed by the 82-year-old, who’s been called “Hollywood’s favorite starchitect” and whose homes are “the hottest must-have[s] among the super wealthy.”

    Last year, Jay-Z and Beyoncé paid $190 million for a different—and substantially larger—Malibu estate designed by Ando, an amount that remains the most ever paid for a California home. Kim Kardashian is planning to built an extravagant Ando-designed vacation mansion near Palm Springs. In 2021, Slack co-founder Stewart Butterfield and his wife Jen Rubio dropped $40 million to buy a Tom Ford’s Ands-designed New Mexico ranch.

    West, who remains one of the world’s most successful record producers and one of the best-selling musicians of all time, seems to be shifting away from real estate ownership—when he’s not out traveling the globe with wife Bianca Censori, he frequently bunks up for months at a time in some of L.A.’s poshest hotels, including the oceanfront Nobu Ryokan. More

  • 150 Shares199 Views

    in Luxury

    Former Google Cloud CFO Picks Up Midcentury L.A. House With Jetliner Views

    Veteran finance and technology executive Steffan Tomlinson has found a new place to hang his hat, having picked up a midcentury-modern gem in the steep hills directly above L.A.’s bustling Sunset Strip. On and off the market since spring of last year, initially for $4.6 million, the home’s listing price was reduced three times before going to the current Stripe CFO for a smidge over $4 million.

    Property records reveal the seller was Katie Goldsmith, the daughter of retired City National Bank CEO Russell Goldsmith and his wife, TV producer Karen Mack, who purchased the place for almost the same exact price almost six years ago, back in summer 2018. The premises also were occupied at one time by the late singer-turned-stage and screen actor Richard Eastham, who is probably most known for starring on Broadway opposite Mary Martin in South Pacific and appearing in the 1950s TV western Tombstone Territory.

    Hidden away behind a privacy wall and tall hedges, amid a secluded dead-end street, Tomlinson’s newly acquired post-and-beam structure is nestled on less than a quarter-acre parcel of land offering picturesque ocean and city lights views. Built in 1956 and “upgraded with no expense spared” since then, per the listing, the single-level residence features three bedrooms and a matching number of bathrooms filtered across a little more than 2,600 square feet of treehouse-like living space rife with dark hardwood floors and vast expanses of glass.

    A wood deck off the main living area is ideal for al fresco lounging with its fire-pit and breathtaking skyline views.

    Jeremy Spann

    Highlights include a spacious living room resting beneath a high wood-paneled ceiling, and displaying a striking marble-clad linear fireplace, built-in bookshelves and walls of glass overlooking the eye-catching vistas. The dining area adjoins a galley-style kitchen, which is outfitted with sleek cabinetry, a subway tile backsplash, wine refrigerator, and top-tier KitchenAid and Sub-Zero appliances.

    There also are secluded sleeping wings on either side of the house—one with a pair of bedrooms that each have their own bath, and another holding a primary suite that comes complete with a floating-hearth fireplace, walk-in closet, and spa-inspired bath equipped with dual vanities, a soaking tub and large shower. Outdoors, the leafy grounds host an expansive glass-enclosed deck warmed by a fire-pit, as well as an attached two-car garage.

    Tomlinson, who worked at corporations such as Palo Alto Networks, Google Cloud and Confluent before joining Stripe last summer, also still maintains a 1950s Andrew Skurman-renovated home in the affluent Silicon Valley enclave of Atherton that he paid $12 million for back in spring 2017.

    The listing was held by Zach Goldsmith of The Agency; Tori Horowitz of Compass repped the buyer.

    Click here for more photos of Steffan Tomlinson’s house.

    Jeremy Spann More

  • 188 Shares179 Views

    in Luxury

    Facebook’s Former CFO Drops a Record $52 Million for a Mansion on Malibu’s Point Dume

    Three years ago, after many years of living in California‘s Silicon Valley, Gideon Yu traded his Atherton mansion for the bright lights of Los Angeles. The veteran technology executive and his longtime wife Susie dropped $9.5 million on a large house in the suburban neighborhood of Sherman Oaks, where the couple has quietly resided ever since.

    But with the heat of summer approaching, the Yus have done what countless other wealthy L.A. families before them already did—they’ve bought an expensive vacation home in the seaside town of Malibu. Records indicate the Yus were the buyers who recently shelled out $52 million—in cash—for a blufftop estate on Malibu’s Point Dume.

    Never on the market, the $52 million house recently underwent a major contemporary remodel.

    Google Earth

    That sale price ranks as the most ever paid for a single-family house on Point Dume, a neighborhood known for its many famous faces. Current residents include Bob Dylan, Sean Penn, Chris Martin, Julia Roberts and Owen Wilson; also in the area are high-profile businesspeople and political figures—Google co-founder Sergey Brin, Jordan’s King Abdullah, billionaire hedge fund manager Chase Coleman and Jeff Bezos, who rents a compound owned by Kenny G.

    Because Yu’s new house was never on the market, photos are scant and current details few. But the 0.76-acre property last sold in summer 2020 for $22 million to Stuart and Stephanie Liner, the married real estate developers who have bought and flipped dozens of other luxury estates in the Los Angeles area.

    At the time of the Liners’ acquisition, the blufftop compound was an extravagant fixer, supremely well-located but saddled with dated interiors and amenities. The couple subsequently embarked on a multi-year, multimillion-dollar remodel that transformed the 1980s modern-style structure into a chicly contemporary home that happens to feature unobstructed ocean views.

    The house sits behind gates and a full-size, lighted tennis court.

    James McClain

    Robb Report is not sure if these figures are still accurate, but tax records say the house offers five bedrooms and seven bathrooms in about 6,000 square feet of living space. There’s also a full-size tennis court and a backyard swimming pool overlooking the Malibu coastline. Naturally, the residence also transferred with a coveted key to Little Dume Beach, the semi-private and difficult-to-access beach that lies just below the cliffs of Point Dume.

    The clifftop property happens to sit right next door to Johnny Carson’s former compound, which was sold in 2019 for $40 million to billionaire Juul investor Riaz Valani. The previous Point Dume sales record was held by another blufftop mansion that transferred for $49 million in early 2022.

    Yu, 52, has held multiple high-level tech executive positions over his career, including at both Yahoo and YouTube. However, he’s perhaps best-known for serving as CFO of Facebook from July 2007 until March 2009. Despite Yu’s relatively short stint as CFO, unconfirmed reports say he may have left the social media giant with as much as $500 million in stock.

    Today, Yu is a private investor and a member of the ownership group that controls the San Francisco 49ers football team. In 2012, he became the first president of color in NFL history. More

  • 138 Shares99 Views

    in Luxury

    Rosie O’Donnell Faces a Loss on Her New York City Penthouse

    In spring of last year, Rosie O’Donnell hoisted her New York City penthouse onto the market for $8.3 million amid an announcement that she was relocating to the West Coast, specifically a rented beachfront home in Malibu that she shares with her youngest daughter Dakota. Now, following its removal from the market in December, the comedian and talk show host’s lofty digs tucked away in Midtown Manhattan’s Turtle Bay neighborhood have once again resurfaced for sale, this time asking a discounted $7.5 million. The listing is held by Caroline Bass of The Corcoran Group.

    Acquired by O’Donnell for $8 million in 2017 after an extensive renovation by its previous owners, the duplex rests on the top two floors of the 33-story Sterling Plaza tower, a 172-unit development built in the mid-1980s, and offers four bedrooms and three baths spread across roughly 3,600 square feet of two-level living space boasting Russian wide-plank oak floors, decorative millwork, designer lighting, a Guggenheim-inspired staircase, and Savant and Nest home-automation systems. A spacious roof terrace also has plenty of room for al fresco lounging and entertaining amid sweeping views of the East River, as well as the Chrysler and Empire State buildings.

    The 1,620-square-foot roof terrace comes complete with an enclosed pantry and kitchenette.

    Russ Ross Photography

    Among the highlights: a small entryway that flows to a window-lined great room holding a living area centered around a massive honed black granite wood-burning fireplace and wet bar-equipped dining room displaying a built-in window seat, along with a streamlined Boffi kitchen sporting Corian countertops, an eat-in island, and top-tier Gaggeanu and Miele appliances.

    Elsewhere is a Swedish sauna, plus a secluded primary bedroom brandishing six custom-designed closets, an additional walk-in closet, and a luxe marble bath equipped with heated floors, dual vanities, a freestanding soaking tub and glass-encased steam shower; and topping it all off is a hefty $5,119 monthly maintenance charge, which allows owners access to a 24-hour doorman and concierge.

    O’Donnell, 62, began her career as a stand-up comic in the late 1970s and early ’80s, and went on to host her eponymous talk show from ’96-2002 and then The View. The Long Island-born actress, who recently starred in Showtime’s American Gigolo reboot, previously bought a modern farmhouse-style mansion in the Beverlywood area of Los Angeles for $4.6 million in late 2021, only to sell it a short four months later for a $300,000 profit.

    Click here for more photos of Rosie O’Donnell’s New York City penthouse.

    Russ Ross Photography More