This week we I have some juicy celebrity real estate news courtesy of our friends at Zillow.com.
2008’s Highest Paid CEO Has Hamptons House on Market
By: Diane Tuman, Zillow Content Manager | September 4, 2009
The Blackstone Group founder and CEO, Stephen Schwarzman, who is reported to be the highest-paid CEO in the U.S. last year, has put his East Hampton, NY home on the market for $7.2 million.
Cove Hollow Farm is located at 52 Ruxton Rd, East Hampton, NY 11937, sits on 2.10 acres and is a modest 3,250 sq ft, with 4 bedrooms, 3.5 baths, a pool/poolhouse and Har-Tru tennis court. According to the Wall Street Journal, Schwarzman is selling this home as he prepares to move into a “…9.9-acre estate in nearby Water Mill, NY, which he bought for $34 million in 2005. He also owns a 20,000-square-foot triplex apartment at 740 Park Ave, New York, NY, for which he paid $38 million in 2001, and a 13,000-square-foot estate in Palm Beach, FL, he bought in 2003 for $20.5 million.
While financial investment vehicles are imploding all around us, Schwarzman’s Blackstone group, a private equity firm, is thriving. Schwarzman received a compensation of $702 million in 2008 and second was Oracle founder Larry Ellison at $543 million.
According to Bloomberg News, Schwarzman bought the Ruxton Road property in 1996 for $2.3 million and paid $30,412 in property taxes on it in 2008. If you look how Schwarzman’s home stacks up against homes around it, his East Hampton home is valued higher than 89% of the nearby homes. It just goes to show you what kind of wealth exists in the Hamptons.
Due Day for Annie Liebovitz
By: Diane Tuman, Zillow Content Manager | September 8, 2009
Annie Liebovitz is supposed to pay Art Capital the $24 million she owes the lender by today, Sept. 8, or risk losing her three brownstones in Manhattan’s West Village as well as a 228-acre property in Rhinebeck, NY, part of which once belonged to the Astor family, plus rights to her negatives and intellectual property, according to CNN.
Together, her real estate and photographs are worth nearly $100 million.
A judge last week gave Liebovitz until Oct. 1 to respond to Art Capital’s lawsuit, according to Bloomberg News. Liebovitz’ real estate could easily pay off the $24 million owed, and perhaps they could settle out of court. But, Liebovitz’s troubles continue to mount.
According to the NY Times, Liebovitz is also involved in a dispute between Getty Images and Art Capital that detailed Art Capital’s efforts to sell the Leibovitz archive for $50 million and there’s another suit by an Italian photographer, Paolo Pizzetti, who claims Liebovitz used his images without authorization or compensation in an ad campaign for Lavazza coffee.
Ben Stiller To Sell His $12.5 Million LA Compound
By: Whitney Tyner, Zillow PR Specialist | September 9, 2009
Funnyman Ben Stiller may have a crude sense of humor, but his taste in real estate is nothing to laugh at. The actor and his wife, Christine Taylor, have recently put their Los Angeles-area compound on the market for $12.5 million. The property is located in the Outpost Estates neighborhood of LA, at 2427 Castilian Dr, Los Angeles, CA 90068.
Since purchasing the home in 1999, Stiller has assembled three properties to create the Spanish-style compound with a total of 10 bedrooms and 11 bathrooms. Here’s the breakdown of the 3-for-1 Stiller property:
- The principal parcel and main house — a 6-bedroom (and 6-bath), 5,334-square-foot, Spanish-style house on a 0.29-acre (12,628-square-foot) lot.
- A 5-bedroom (and 5-bath), 4,062-square-foot house that was built in 1930 and that sits on a 0.28-acre (12,197-square-foot) lot.
- Another adjacent 0.29-acre (12,628-square-foot) lot that was vacant, and on which Stiller constructed a 1-bedroom, 1,161-square-foot guest house in 2003.
The photos of the meticulously-maintained compound (courtesy of Luxist) are spectacular, boasting a pool, gorgeous gardens, and an outdoor dining area.
The Stiller family isn’t wasting any time before jumping into their next real estate investment. The New York Observer believes the power couple has purchased a $10 million co-op duplex on Manhattan’s Upper West Side.
Why the cross-country move? Stiller grew up in the Upper West Side in the 1970’s, and the co-op is in the same building where Stiller’s famous parents also live.
Bernie Madoff’s Homes On the Market
By: Diane Tuman, Zillow Content Manager | September 10, 2009
Under the direction of U.S. Marshals, each of Madoff’s homes that were seized are now listed with the proceeds to be split among Madoff’s victims. Collectively, these homes are being listed for just over $27 million, while Madoff is said to taken his victims for $65 million.
Here’s a look at the Madoff homes:
1. Madoff’s Montauk home:
216 Old Montauk Hwy, Montauk, NY 11954
For sale: $8,750,000 (Corcoran Group)
Marketing teaser: “Montauk oceanfront home for the ages…”
Fun facts: Madoff’s 3,000 sq ft home is set very close to ocean’s edge (see Bird’s Eye View), and has 182 feet of beachfront. It has 20-foot-high vaulted ceilings, a living room with a pebble-stone fireplace, and a swimming pool.
2. Madoff’s Palm Beach home:
410 N Lake Way, Palm Beach FL 33480
For sale: $8.5 million (Corcoran Group)
Marketing teaser: “Palm Beach Classic Island home”
Fun facts: According to Bloomberg News, this property has had its share of scandals. It was once owned by Herbert and Roxanne Pulitzer, whose 1982 divorce trial scandalized local residents with details of drug use and adultery at the estate. The property has a private dock on the shore of Lake Worth. It was built in 1973, is 6,475 sq ft, has five bedrooms and seven bathrooms and was bought in 1994 for $3.8 million under Ruth Madoff’s name. Local teenagers toilet-papered it shortly after Madoff’s arrest because they lost their trust funds through Madoff.
3. Madoff’s Manhattan home:
133 E 64th St, New York, NY 10065
For sale: $9.9 million (Sotheby’s International)
Fun facts: It has a wraparound terrace with 360-degree views of Manhattan and is fully furnished with a $40,000 Steinway piano, a $35,000 Persian rug and $20,000 tea tables. And, according to Fox News, it’s where “… Bernard Madoff broke down and confessed to his massive fraud, frantically wrote checks for millions of dollars as the scheme unraveled and appeared in a bathrobe to greet the FBI agents who arrested him.”