Subterms
Modified on December 28, 2023 ,
Published on December 27, 2023
D & G Tulum Developers
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…
Read More More
Today’s real estate market is sluggish, but Zoe Saldana has not been deterred by the slowdown. Last week, the Daily Mail revealed—and property records confirm—that the prolific Hollywood actress, 45, was the buyer who earlier this year paid $17.5 million for a historic estate in prime Montecito, complete with sweeping mountain and ocean views.
Built circa 1930, the home was designed by prolific Santa Barbara architect George Washington Smith. In 1933, following Smith’s death, the Spanish Revival-style villa was expanded by Lutah Maria Riggs, the noted pioneer who became Santa Barbara’s first licensed female architect. In the 90 years since, much of the estate’s original period details have survived — the light fixtures, tilework and windows remain largely intact — though the place has also seen upgrades over the years.
Owned by the same family for the past several decades, the house first hit the market last December, asking $18.9 million. It’s perhaps not surprising that Saldana saw the place as a prime candidate for an overhaul—as noted by Siteline Santa Barbara, the quirky old house has a very atypical floorplan. There are two guest bedrooms on the main floor, neither of which currently sports an ensuite bathroom. The kitchen, while large, appears to have undergone an unfortunate 1980s remodel. And upstairs, there’s a third guest bedroom that is only accessible via traipsing through the carpeted master bedroom.
The rambling 1930s mansion is surrounded by lush grounds equipped with a swimming pool and full-size tennis court.
Google Earth
Still, some quirkiness is to be expected in an old house, and charm abounds here. There are rambling hallways that seem to go on forever, a gorgeous wood-paneled library with floor-to-ceiling bookshelves, intricately crafted ceilings, and grand public rooms with big windows.
And then there are the 4.7 acres of grounds, where vast terraces spill out to gardens containing dozens of ancient oaks, charmingly overgrown flowers and grassy lawns. A proper north/south tennis court abuts a classically oval swimming pool. Also on the estate are a detached art studio, a guesthouse with ocean views, two three-car garages and a two-bedroom staff apartment attached to the main house.
In addition to their newly-acquired Montecito classic, Saldana and her husband Marco Perego also maintain a lavish tennis court estate in the mountains above Beverly Hills. That property, once owned by Kimora Lee Simmons, was up for grabs at $16.5 million over the fall but is now available for longterm lease at a princely $47,500 per month. More
Move over Larry Ellison, there’s a new mogul cutting into your longtime Malibu turf. On exclusive Carbon Beach, where Ellison owns no fewer than 13 houses, two eye-catching contemporary homes recently sold. Back in August, a 5,600-square-foot 1990s build went for $26.7 million, and now a 4,000-square-foot stunner about 12 doors away just closed for $28.5 million.
Records reveal both lavish beach houses were bought by the same man: Gary Friedman, the billionaire chief executive of the high-end furnishings juggernaut formerly known as Restoration Hardware.
It’s not clear why Friedman wants or needs two spacious and vaguely similar-looking houses on the same stretch of sand, but it’s entirely possible that one will serve as his temporary “crash pad” while the other is undergoing renovations, or perhaps one is intended to be guesthouse for friends and family.
Friedman’s second Carbon Beach house is a 1950s structure that’s been radically reimagined in recent years.
Whatever the case, Friedman’s latest acquisition has a bit of a interesting ownership history. From 2018 until 2021, the house was owned by billionaire Robert F. Smith, who used the place as a high-end income property, frequently renting the place out to short-term tenants. In late 2021, Smith sold the house for $21.8 million to noted property developer Saffron Case and her husband Timothy. The Cases held onto the place for two years, giving it a thorough remodel, before flipping it to Friedman for the aforementioned $28.5 million.
Guarded by an electronic driveway gate, the redwood-sided structure includes an expansive great room adorned with custom rift cabinetry and plaster walls, plus a separate bar area. Fully remodeled, the kitchen includes stone countertops and white oak cabinetry. Three of the home’s bedrooms are located on the main floor, while the lavish primary suite rungs the full length of the house and includes a private office, a spa-style bathroom and boutique-style closet.
Out back, a 60-foot wooden deck fronts the beach. Ideal for entertaining, the backyard area also includes a built-in barbecue center, a fire-pit and an outdoor shower for hosing off the sand.
With just one brief interruption, Friedman has been CEO of RH, the company formerly known as Restoration Hardware since 2001, and has overseen multiple reinventions of the luxury home furnishings retailer. Today, the San Francisco native sports a net worth that tops $1.6 billion, per Forbes. In addition to his two new Carbon Beach retreats, he also maintains a Beverly Hills mansion, that recently popped up for sale with a $44 million asking price. Last year, the San Francisco native sold a half-built Los Angeles estate for $24 million to an anonymous buyer. More
She already owns at least 12 multimillion-dollar homes scattered across Southern California, including four extravagant Malibu properties collectively worth upwards of $150 million, but Marcy Carsey is still flush with syndication cash. And so it’s no surprise that the real estate fanatic and retired TV super-producer (“That ’70s Show,” “Roseanne,” “The Cosby Show,” “3rd Rock From the Sun”) was the buyer who recently shoveled out $5 million for a Brentwood home that’s right next door to another house she already owns.
Because Carsey’s latest acquisition was never on the market, photos and details are scant. But tax records indicate the modern-style home last sold in 1987, going for about $1.4 million to a non-famous medical doctor. Sited a few blocks south of Sunset Boulevard and originally built in the 1950s, the house offers four bedrooms and three bathrooms in 2,100 square feet of living space. There’s also a detached building of some sort on the 0.32-acre premises, likely a garage but possibly a converted guesthouse. The place is unusually private, set at the end of a tiny cul-de-sac and obscured from public view by multiple palm trees.
Carsey has owned the house next door since 2007, when she bought it for $4.4 million. But it’s not clear if the legendary TV producer has ever actually spent a night at that 1930s Tudor-style stucture—the property is or was reportedly occupied by her adult daughter Rebecca, while Carsey’s main residence has long been a far larger and more extravagant estate in the nearby Brentwood Park neighborhood.
Carsey’s latest acquisition gives her a two-house, two-pool compound at the end of a quiet cul-de-sac.
Google Earth
Whatever the case, Carsey’s new $10 million compound gives her about two-thirds of an acre on a posh Brentwood cul-de-sac, plus two swimming pools and two houses with a combined 5,600 square feet of living space. The property is just a short drive to the popular Brentwood Country Mart, and a very short walk to Marilyn Monroe’s final residence.
Carsey, 79, sports a personal net worth widely believed to top $500 million. In addition to her many properties in Malibu and Brentwood, the Massachusetts native also owns homes in the California neighborhoods of Montecito, Pacific Palisades and Westwood, plus a ski chalet in Park City, Utah.
Carsey’s longtime Malibu estate served as Brad Pitt and Jennifer Aniston’s extravagant July 2000 wedding venue.
Getty Images
Perhaps Carsey’s most impressive—and certainly her most valuable—house is her clifftop mansion on Malibu’s Encinal Bluffs, which happens to sit right next door to Kim Kardashian’s smaller $70 million vacation house. Astute celebrity followers may recall that way back in 2000, Carsey’s Encinal Bluffs estate served as Brad Pitt and Jennifer Aniston’s heavily publicized wedding venue. More
The former Manhattan home of tennis ace John McEnroe has been lobbed onto the market, and you can score the athlete’s one-time pad for $9.8 million.
The Grand Slam champion sold his Upper West Side co-op back in 2013 for a cool $3.1 million, and since then, the apartment has been expanded into a four-bed, four-bath combo unit, Mansion Global first reported. Located on Central Park West, the ESPN commentator’s former crib sits on the fourth floor of The Beresford, a designated New York City landmark. Along with Johnny Mac, the esteemed prewar building has played host to dozens of famous tenants since it was built in 1929. Most notably, Diana Ross, Meryl Streep, Jerry Seinfeld, and Diane Sawyer have all lived there, while New York Yankees legend Alex Rodriguez purchased a unit in the building in 2022.
The former Upper West Side home of tennis pro John McEnroe has been combined with a neighboring apartment.
Michael Alley/Allyson Lubow Photography for Corcoran
“What’s great about the Beresford is that it’s a building full of intellectuals and creatives of all stripes—from Fortune 500 CEOs to the creator of Sesame Street’s Cookie Monster,” Daniel Douglas of Corcoran, who holds the listing with colleague Eileen A LaMorte, told the real estate site. “While it’s undoubtedly a prestigious address, designed by the great Emery Roth, it’s open-minded and not stuffy.”
The apartment itself is accessed from a semi-private elevator landing that leads to an entrance gallery and entertainment area. The great room is decked out with a fireplace, and nearby there’s a formal dining area, a cozy library with floor-to-ceiling bookshelves, and a massive 25-foot eat-in kitchen. The latter is any aspiring chef’s dream. Think sleek cabinets, composite counters, and top-of-the-line appliances from Sub-Zero, Miele, and Viking. Elsewhere, the primary suite occupies its own wing and is complete with an ensuite bathroom. “I like to call the scale of its rooms ‘approachable grandeur’ as they are grand but livable spaces,” Douglas added. “Any bigger would be too much.”
The renovated unit now has four bedrooms, four bathrooms, and a library.
Michael Alley/Allyson Lubow Photography for Corcoran
The tennis Hall-of-Famer, who became well-known for his outbursts on the court, is also somewhat of a real estate mogul. The retired athlete and his wife, singer-songwriter Patty Smyth, have owned their fair share of properties since they got married in 1997. Most recently, the couple offloaded their longtime home in Malibu, California, for a whopping $29 million. The estate was tucked within the guard-gated Malibu Colony community and was originally built in the 1930s. Prior to that, the couple has a house in the Hamptons they sold in 2017.
Click here to see all the photos of 211 Central Park West, 4G.
Michael Alley/Allyson Lubow Photography for Corcoran
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…
Read More More
Where have all the millionaires gone? Down Under, it would seem.
Australia had the highest inflow of high-net-worth individuals in 2023, according to new findings from London-based investment migration consultancy Henley & Partners. The report, which defines HNWIs as people with at least $1 million in assets, noted that roughly 120,000 millionaires migrated to a new country this year, with that number set to increase to 128,000. Over the last two decades, Australia has logged 82,000 newcomers, and this year, approximately 5,200 millionaires are expected to make the country their new home.
“Australia consistently attracts sizable numbers of millionaires every year, mainly from Asia and Africa, but more recently also from high-income countries such as the U.K.,” explained Andrew Amoils, head of research at New World Wealth, which collaborated with Henley & Partners on the report. The study attributed Australia’s appeal to its safety, low tax rates, healthcare system, and advanced economy. Of course, the country’s high quality of life, wide open spaces, and natural beauty are also draws.
The UAE, Singapore, Switzerland, and the U.S. were also among the top five destinations with the highest net inflows of millionaires in 2023. The Emirates clocked approximately 4,500 high-net-worth individuals this year, most of whom are drawn to the area’s prime real estate and safe haven status.
Roughly 82,000 millionaires have relocated to Australia between 2002 and 2022.
Pexels
“Pre-pandemic, the UAE traditionally saw net inflows of around 1,000 high-net-worths per year,” the report said, with most incoming millionaires in 2023 expected to come from India, with large numbers also coming from the U.K., Russia, Lebanon, Pakistan, Turkey, Egypt, South Africa, Nigeria, Hong Kong, and China.
The United States attracted around 2,100 high-earning newcomers. Per the report, those people mainly hail from Asia and work in the entertainment, finance, or tech industries. Singapore and Switzerland also maintained their status as wealthy hubs. The former is forecast to welcome 3,200 HNWIs, while the so-called “playground of Europe” is projected to attract a net inflow of approximately 1,800 high-net-worth individuals in 2023.
Conversely, countries including the U.K., China, India, Russia, and Brazil saw the world’s largest exodus of millionaire residents. This year, the U.K. had about a 3,500 drop in HNWIs, while China has been negligible since 2017. “General wealth growth in the country has been slowing over the past few years, which means that the recent outflows could be more damaging than usual,” the report said.
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…
Read More More
Just two years ago, Kanye West was still flying high on the success of his billion-dollar Yeezy sneaker brand. He bought two separate Wyoming ranches, including one that spanned more than 3,000 acres. The money seemed endless; he also shelled out $57 million, in cash, for an oceanfront Malibu house designed by famed Japanese architect Tadao Ando. And in the midst of his acrimonious divorce from Kim Kardashian, he bought a house directly across the street from her Hidden Hills residence, just because.
Both California properties are gone and going, respectively — that Hidden Hills house was recently sold at a six-figure loss, while the Malibu manor is now up for grabs at $53 million. Even in the unlikely event of a full-price offer, West stands to lose many millions of dollars on the property, once realtor fees and closing costs have been factored into the equation. And it’s not even clear if he ever spent a night at the house, which was completely gutted during his ownership.
The current listing, held by Selling Sunset star Jason Oppenheim of the Oppenheim Group, includes a few years-old photos of the place. But it doesn’t look anything like that today—aerial imagery shows most all of the walls and doors are now gone, and the interior finishes have likely made their way to a landfill. Oppenheim told the Wall Street Journal that a buyer will need to spend “several million dollars” just to make the house livable.
In its current state, the Malibu home will require millions of dollars in renovation costs alone.
Backgrid
West had intended to redesign and update the 4,000-square-foot structure, but that was shortly before Adidas parted ways with the 46-year-old rapper due to his numerous antisemitic remarks, allegedly leaving his finances in disarray. As it stands now, the building is a concrete shell exposed to the elements. Railings and metal trim pieces around the house have visibly rusted, likely beyond salvageability.
It will be interesting to see what sale price the oceanfront property eventually commands—particularly because it sits cheek-to-jowl next to other homes, nearly all of which are worth a mere fraction of West’s $53 million sticker. But this home does benefit from its unique pedigree; it’s one of the few stateside residences ever designed by Ando, who has become one of the billionaire elite’s most sought-after architects.
West, who remains one of the world’s most successful record producers and one of the best-selling artists of all time, is likely nowhere near poor. But he 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 most expensive hotels, including the oceanfront Nobu Ryokan. More
When it comes to premium ski destinations in the United States, wealthy locales like Aspen and Vail are likely to come to mind. However, the charming, quiet town of Waterville Valley, New Hampshire, has seen some of the largest gains over the last few years when it comes to alpine property prices.
According to a new report from Realtor.com, the New England enclave has seen a shocking spike in home prices since the pandemic. In that time, listing prices jumped a whopping 121 percent, which raised the median home price roughly 25 percent higher than the national average. For context, the U.S. median home price was $408,732 as of November 2023. “It’s those children who grew up skiing here,” Mike Aronson, an agent with Waterville Valley Realty, told the real estate portal. “Now, with remote work, they’ve come back to live here.”
Waterville Valley, nestled inside New Hampshire’s White Mountains National Forest, has long been a big draw for slope-schussing homebuyers. A two-hour drive from Boston, the town’s picturesque ski resort was founded in the 1960s by the late Olympic skier Tom Corcoran. Today, it features an epic 52 trails and 265 acres of alpine terrain. “Like a lot of ski towns, we’ve become more of a four-seasons destination,” Aronson added.
Outside of Waterville Valley, 80 Mooney Point Road in Holderness is one of the area’s priciest listings.
Keegan Rice/Badger Peabody and Smith Realty
Per the New Hampshire Housing Market Report, average home prices across the state have risen 36 percent between 2020 and 2022. And as of 2023, the median home price clocked in at $449,799. Not far from Waterville Valley is the town of Holderness, where properties on scenic Squam Lake run in the $4 million to $7 million range. Currently, the area’s most expensive residence is 158 Cromwell Point Road, a 4,134-square-foot pad with four bedrooms and four bathrooms. The $7 million spread is positioned on roughly four wooded acres and features a wine cellar, a U-shaped boat dock, and a stone patio.
Nearby, 80 Mooney Point is listed for just shy of $4.5 million. The 2,409-square-foot waterfront cottage comprises four bedrooms, three bathrooms, a renovated kitchen, and a screened porch. There are tons of exposed beams and wooden paneling, which makes it look as if it’s straight out of the 1981 drama On Golden Pond, starring Henry Fonda and Katherine Hepburn. Well, that could also have to do with the fact that the movie was actually shot on the same lake!
Authors
Abby Montanez
Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…
Read More More
