In the heart of Missouri, overlooking the idyllic Lake of the Ozarks, the Midwest’s premier lake resort destination, a spectacular turnkey home is looking for new owners.
Inspired by the New England architecture style prevalent in Nantucket, MA, the 6,800+ square-foot home has rightfully been dubbed Nantucket Point and stands as the crown jewel of the Lake.
Listed for $13,000,000 (Andrea Sanders & Colleen Lawler with Coldwell Banker Realty and The Kelly Bennett Team at EXP Realty share the listing), the sprawling property is one of the most expensive homes for sale in the entire state of Missouri. And it has all the bells and whistles to justify its high price point.
With 6 bedrooms, 6 full baths and 2 half-baths, Nantucket Point sits on a one-of-a-kind 1.24-acre lot with 500′ of shoreline with seawall, deep water, and views of the main channel.
Offering an extra generous 6,811 square feet of living space, the Nantucket-inspired estate is filled with laid-back luxury, coastal design, and hidden passageways leading to tucked-away spaces.
Every room has a view of lush landscaping and the sparkling lake, and each is more inviting than the next. The house’s bright, light-flooded spaces are matched by the property’s equally-impressive outdoor areas — which offer more than 3,000 square feet of outdoor living space, including a covered patio, a wraparound deck, and a veranda with its own fireplace.
There’s also an infinity pool just steps away from the lake and two docks for boating enthusiasts, one of which boasting two slips, jet ski lifts, and even a kitchenette.
If the house sells anywhere near its asking price, it’ll undoubtedly become one of the most notable sales in the entire state of Missouri.
Just a few months ago, a St. Louis-area estate traded hands for $13 million, making it not only the biggest dollar amount for a home in the St. Louis area, but one of the priciest deals ever recorded in Missouri. Nantucket Point has all the potential to match that sale, so we’ll be keeping our eye on this one.
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In sunny Malibu, a newly developed neighborhood is shaping up to become the priciest and most exclusive community in the country. Dubbed The Case, the five-home, guard-gated community sits on a 24-acre bluff that’s hailed as one of Malibu’s absolute best locations.
So much so, that developer Scott Gillen paid $50 million for the land alone back in 2017, breaking local records: it was the highest price ever paid for undeveloped land in the city.
On his newly acquired land, Gillen set out to build 5 extraordinary homes, each priced between $70 million and $115 million. The first fully completed home at The Case in Malibu was the 10,527-square-foot The Edge, which landed on the market with a bang at the beginning of the year — asking $70 million.
Now, it’s time for us to take a look at another spectacular house from Gillen’s ambitious project: the $95 million Butterfly House.
Named after its butterfly roof, the striking luxury home offers more than 10,000 square feet of ultra-luxurious living space and sits on 3 flat acres of prime Malibu land with unparalleled ocean views.
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“The Butterfly is located at the end of Case Court overlooking the Malibu Colony and Surfrider Beach and you can see the surf breaking, with entire Santa Monica Bay unfolding with views that extend to Palos Verdes and Catalina Island with twinkling city lights at night,” developer Scott Gillen said of his newly-unveiled project, adding that “The Case is literally 2 minutes from the best shopping and dining in Malibu and the design and construction of the homes at The Case are incomparable.”
Combining world-class, modern architecture with the surrounding natural beauty of the Malibu cliffs and coastline, the Butterfly House is the epitome of luxury living in an idyllic coastal setting.
Perched on the tip of a 24-acre promontory to provide panoramic views of the Malibu coastline and vistas of the famous Queen’s Necklace, the property is accessed via two sets of guarded gates that lead visitors and future residents onto a 250-foot driveway.
All in all, the luxury property has a total of 7 bedrooms and 8 baths, spread across the main house (which has 4 en-suite bedrooms) and a separate guest house.
The open-concept great room seamlessly combines the kitchen, family, and living room, creating an inviting space for relaxation and entertainment. The custom Bulthaup kitchen has been equipped with Gaggenau and Miele appliances and features a separate prep kitchen, perfect for cooking enthusiasts.
The Butterfly House’s dramatic primary suite is a true sanctuary, featuring a cozy fireplace, a luxurious bathroom with poured terrazzo floors, a massive, oversized closet, and even a private outdoor spa. An additional media room provides extra entertainment space.
Adding to its Iron Man house vibes, the Butterfly House also features a gym and bathroom below the pool area and an underground 3-car garage with a motor court capable of accommodating over a dozen vehicles.
Heading outside, we find a massive 133-foot infinity pool that makes the most out of its oceanside location and that comes with a spa and fire features.
Listed for $95 million with Westside Estate Agency’s Stephen Shapiro and Kurt Rappaport (the agent who reportedly arranged Beyoncé and Jay-Z’s record-breaking $200 million Malibu house purchase just a few months back) this extraordinary home is one of California’s priciest listings.
Surpassed only by a handful of properties, including another Malibu showstopper — former Disney CEO Michael Eisner’s estate, listed for $195 million (!) — and late TV producer Aaron Spelling’s The Manor, listed for $155 million, the Butterfly House, much like its neighboring homes at The Case, is a status symbol. And we’re looking forward to seeing who its lucky owner will be.
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Real estate transactions topped $13 billion in value in the first half of this year, with a plurality of the sales concentrated within the top income bracket encompassing the luxury market, data provided by Realtors Association of Jamaica shows.
However, the data, which spanned four income groupings, also shows that once combined, the majority of the sales are within the middle- to high-income block.
In that regard, the data comports with information from members of the banking sector, several of which have said that for them, the demand for home loans is manifested mostly in the middle tier of the market.
But while the banks have said business is fairly robust notwithstanding the uptick in mortgage rates, the data from the RAJ Multiple Listing Service indicates that residential real estate transactions are on the decline.
For all of 2022, the Realtors Association reported that there were 1,608 transactions worth nearly $108 billion spanning the four categories of residential real estate. But that is down from 1,858 transactions valued at $211 billion the previous year.
According to real estate brokers and financiers of home purchases, the current functional definition of middle-income residences relates to homes priced within the $15 million to $25 million range, while high-income residences are priced at $25 million to $45 million.
Most of the demand was said by different banks to be coming from young professionals.
The Realtors Association’s listing service captured 287 real estate transactions from January to June of this year, valued at $13.27 billion.
Broken down into four categories, the most lucrative side of the market and the area with the highest demand related to the most expensive homes.
In the under-$15 million category, RAJ reported that there were 76 transactions valued at $731 million at half-year 2023; in the middle income or $15 million to $25 million band, there were 68 deals valued at $5.2 billion; for those in the $25 million to $35 million range, there were 49 transactions valued at nearly $1.44 billion; while at the top end of the spectrum, for residences costing over $35 million, there were 94 transactions valued at $5.89 billion.
CIBC First Caribbean Jamaica, which once operated a building society but merged it into its wider operations years ago, said the bank has seen a 28 per cent increase in the number of applications for mortgages in the first five months of 2023, relative to last year, and consequently, it has been distributing more home loans in line with demand.
“Approval percentages for the corresponding periods during 2022 and 2023 were 73.33 per cent and 82.46 per cent, respectively,” CIBC FirstCaribbean said regarding the performance of the mortgage market.
And that is within a context where financing charges are 0.5 percentage point higher than last year, the bank said. The loan applications it received mostly related to apartments and single-home properties.
The most recent data published by the Bank of Jamaica, BOJ, shows that after a yearlong period of steady then incrementally small movements, mortgage loan rates have spiked to a three-year high, at 7.76 per cent as of May. That is up 56 basis points since January when mortgage loans were priced at an average of 7.2 per cent.
JMMB Bank says most of the demand for its home loans relates to properties falling within a band of $14 million to $35 million.
“This segment largely consists of young professionals who are first time homeowners taking advantage of the increased NHT loan ceiling which stood at $6.5 million since 2019 and is set to increase to $7.5 million, per single applicant in July 2023,” JMMB Bank’s General Manager of Bank Client Partnership Moya Leiba-Barnes, told the Financial Gleaner back in June. The NHT has since announced the increase in the loan ceiling, effective July 1.
“In response to the demand in this segment, JMMB Bank has forged several partnership agreements with developers, some of whom have received financing for their construction projects through JMMB Bank, in keeping with its end-to-end financing of real estate projects,” said Leiba-Barnes.
In May, JMMB Bank adjusted all its variable interest rate loans, including residential mortgages, by up to 1.75 per cent for retail clients, in response to the series of interest rate hikes that the central bank had executed for more than a year. The central bank’s policy rate has rested at 7.0 per cent since last November, but it is coming from a historic low of 0.5 per cent nearly two years ago when the BOJ shifted towards monetary tightening as a check on inflation.
Financing for majority mid-income properties is reflective of recent trends. The central bank, in a review of the mortgage market published in the latest BOJ Financial Stability Report, said acquisition of houses and apartments were mainly financed by banking institutions, inclusive of banks and mortgage banks, and spanned properties priced mainly in the range of $15 million to $30 million, during the period April 2019 to March 2021.
There were also outlier purchases of properties in excess of $60 million, which were spread across all institutions, “suggesting low concentration in high-value real estate,” the central bank stated.
Across all price ranges, the greater share of loan funding was for the purchase of houses, inclusive of apartments priced mainly at $15 million to $30 million, and scheme residences priced below $15 million.
“This was consistent with the affordable housing solutions established in the parish of St Catherine and indicative of joint financing arrangements with other institutions namely the National Housing Trust,” the central bank said.
It added that notwithstanding the spike in mortgage activity, the banks appeared to have a fairly good handle on managing the risk. Since mid-2020, the central bank said that asset quality improved sharply relative to the overall loan portfolio of banking institutions while credit quality was high, with the level of ‘performing’ mortgage loans at March 2022 estimated at 93 per cent of mortgage portfolios.
It’s not every day you get a chance to live in the White House—especially without the pressures of leading the free world.
But if you have the funds, the opportunity awaits. A palatial estate known as the “Western White House” has landed on the market for $38.9 million. The 24,350-square-foot home was built in 1915 and while it’s within commuting distance of San Francisco, it occupies a world all its own.
Alex Buljan holds the listing with Pierre Buljan, both with Compass Real Estate. The splendid estate’s price tag puts it on the Realtor.com® list of this week’s most expensive homes. It has certainly captured plenty of attention for its price and history.
“This property is a historic jewel set in the town of Hillsborough,” Alex Buljan says. “This week, when the home landed on the market, the mayor, Christine Krolik, visited the property because she recognized its historic value and had never been before. As soon as she saw it, she asked if she could host a city event at the property. She was that blown away.”
An architectural gem
The home was redesigned by legendary architect, Julia Morgan. Born in 1872, Morgan attended college at the University of California, Berkeley, and earned a degree in civil engineering. After graduating, she enrolled at Ecole des Beaux Arts in Paris to pursue a graduate degree in architecture, becoming the first woman to graduate from the program.
Morgan returned to the Golden State and became California’s first licensed female architect. She opened her own firm to design homes and iconic buildings, taking on some 700 commissions during her career.
She tackled the redesign of the Western White House, when George Hearst hired her to completely revamp the home and property after it sustained major fire damage. Morgan accepted the commission in 1930; the original house dates back to the 1870s.
Hearst was introduced to Morgan by his tycoon father, William Randolph Hearst, who’d previously hired the architect to design his now-iconic Hearst Castle in San Simeon in 1919.
Morgan redesigned the Hillsborough home to mimic the presidential White House in Washington, DC, with an Oval Office and a rose garden.
An outstanding estate
The 11-bedroom, 14-bathroom residence features an 8-car garage and is perched on three acres, much of which is forested, with a meandering creek that winds its way through the trees. The home is private, beyond the view of passersby.
The landscaped grounds include mature trees, terraces, lush green lawns, rose gardens, marble hardcaping, a gorgeous swimming pool with a hot tub, and a pavilion with its own kitchen, bathroom, and sauna.
The Western White House is reported to have last been purchased by long-time neighbor and real estate investor Mehrdad Elie, who heard the home was going up for sale. Elie offered $15 million and, when the offer was accepted, immediately began investing in an overhaul and upgrade that deliberately reflected Morgan’s and Hearst’s vision.
Elie poured millions into the project, updating all 14 (nine full, five half) bathrooms, ripping up carpets to install hardwood floors that would match Morgan’s original flooring, and polishing every architectural detail. When the project was finished, Elie decided the home was too large for his family of four and placed the property on the market.
The lay of the house
When you walk in, you’ll find a formal entry parlor, two powder rooms, a replica “East Room” with a fireplace, a formal dining room, gourmet kitchen, butler’s pantry, breakfast room, family room, and a replica “Oval Office.”
The second level features five bedroom suites, including the primary with its two spacious bathrooms, expansive dressing rooms, private executive office, plus an additional bedroom.
A recreation room, home movie theater, snack bar, powder room, oversized bathroom with changing room, one bedroom suite, and two additional bedrooms make up the top floor.
The lower level offers a fitness room, family room, lounge, wine cellar, two bedrooms, one bathroom, a powder room, and laundry center.
The estate also boasts a rooftop sun deck, extensive solar panels, a dumbwaiter, room-sized bank safe, and a panic room.
A massive 17,602-square-foot home that sits on Highland Beach’s largest oceanfront lot has recently hit the market in Palm Beach County, Florida and has the potential to set a new real estate record.
The trophy property delivers over 150 feet of private manicured beachfront on nearly 2 acres in the ”Estate Section” of Byrd Beach, minutes away from Atlantic Avenue and Boca Raton.
It also sports a price tag worthy of its countless attributes: the mansion is listed for $59.9 million, making it the most expensive home for sale in Highland Beach and the priciest listing in the greater Boca Raton area.
If it sells anywhere near its asking price, the Ocean Blvd. property will become the most expensive home ever sold in the area.
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“This estate is one of the nicest houses in Highland Beach,” says Coldwell Banker Realty agent Jonathan Postma, who holds the listing. “It’s a trophy property that is becoming increasingly hard to find in Florida, especially with two acres and 150 feet of private ocean frontage.”
Interestingly enough, the previous record holder is this very property. The same Ocean Blvd. home sold in April 2022 for a whopping $45 million, a deal that marked the highest sale in the Highland Beach, Boca Raton, Delray Beach, Gulf Stream, and Ocean Ridge area, per the South Florida Sun Sentinel.
The owner, identified by The Real Deal as an Omaha businessman, bought the property in 2022 in an off-market deal, and has since done extensive maintenance/repairs, while also revamping the interiors of the massive 17,602-square-foot mansion.
Featuring modern French-Eclectic architecture, transitional interiors by Marc-Michaels, and fortress-like construction by Mark Timothy Luxury Homes, the $59.9 million Ocean Blvd. house is the epitome of luxury.
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With 8 bedrooms, 10 full baths and 3 partial baths, the mansion has intricate details throughout, creatively blending an atmosphere of grand-scale entertaining and comfortable beach living.
Inside, some of the standout features of the privately gated estate include a gourmet kitchen with a large center island, double ovens and pantry; an oversized master bedroom with en suite and massive walk-in closet; a home theatre; and a fitness area, among others.
Adding to its beach living appeal, the Ocean Blvd. estate also features a heated pool/spa area with a cabana, outdoor shower, built-in grill, and summer kitchen.
Ultra-high-end real estate in Boca Raton, Florida is on a stratospheric rise, breaking record sale prices every year for five consecutive years. According to a CNBC report, mansions in the Boca Raton area are commanding Miami Beach prices, with the price per square foot of the area’s top-end homes now on par with Miami Beach pricing.
“People tend to think of Miami when the subject turns to high-end South Florida real estate,” Douglas Elliman real estate agent Senada Adzem told CNBC, “But Boca Raton is, without question, one of the region’s premier luxury residential markets.” And the spectacular $59.9 million Highland Beach mansion we covered today is clear proof of that.
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If you’ve ruled out winning the lottery as your chance to become a millionaire, you must have considered real estate investing a viable opportunity.
And if you haven’t, this article will plant the seed.
Real estate data firm PropertyShark took a closer look at how many property owners have made a good profit off of selling their homes since the turn of the century. More specifically, they looked at homes bought before 2001 for less than $1 million, later to be sold by their owner for $1+ million.
They then grouped the data by city, to give us a clear picture of the thriving real estate markets where investing in property can take us one step closer to becoming a millionaire. Here’s how they map out:
The city to land first place is — unsurprisingly — San Francisco, which minted 381 million real estate millionaires as the market skyrocketed in the past two decades. That puts it ahead of Manhattan, which, despite being double the size of San Francisco, only saw 335 people become millionaires off of selling their properties.
A more unexpected finding was that the Los Angeles market lost the third spot in favor of Brooklyn; the New York borough came in on #3, with 281 people making a good profit off of selling their homes for over $1 million.
Trailing closely behind, “the city of Los Angeles, with a population of more than 3.9 million, made 280 people millionaires since the turn of the century,” Robert Demeter reports for PropertyShark, adding that “L.A. isn’t as expensive as some of the neighboring cities in the county, but being spread out with a large number of residents, it’s no surprise it made it so high on our list. Affluent neighborhoods such as Bel-Air, Venice Beach and Brentwood most certainly paved the way for homeowners to become millionaires after selling their properties.”
Other notable markets where people achieved millionaire status by selling their homes are Potomac, MD (182 millionaires), Bethesda, MD (175 millionaires), San Jose, CA (119 millionaires), Queens, NY (93 millionaires), Scottsdale, AZ (86 millionaires), and Plainfield, IL (78 millionaires).
Out of the top 25 “millionaire cities”, 7 are located in the Silicon Valley area, where the median home price regularly goes over the $1 million mark.
It’s worth noting that the study only looked at the profits made off of selling homes in these markets with a sale price over $1 million.
It doesn’t take into account other financial holdings, investments or net worth of these individuals, who may have already been millionaires before selling their homes.
However, it’s a great indicator of markets that are most likely to mint out millionaires after buying local real estate.
A 15-time Grammy Award-winning singer/songwriter/producer, not to mention best-selling author, entrepreneur and The Voice judge, Alicia Keys is a trailblazer.
With a thriving career that spans more than two decades, the Empire State of Mind singer is one of the biggest names in the music industry. And her personal life is equally full of achievements.
Back in 2010, she married record producer/rapper Swizz Beatz (by his real name, Kasseem Daoud Dean), and the two welcomed two children to the family: Egypt Daoud and Genesis Ali Dean.
So it only makes sense that this exceptional artist lives in a house that’s just as impressive as her neverending list of trophies and awards.
In 2019, Grammy Award-winning singer Alicia Keys and husband Swizz Beatz paid $20.8 million for a striking cliffside mansion in San Diego’s upscale La Jolla neighborhood.
The high-profile purchase even made its way to our TV screens, as part of Bravo’s Million Dollar Listings LA show, which brought the already-famous property back into the spotlight.
The one-of-a-kind architectural masterpiece — widely known as The Razor House — has been getting people talking since it was first designed in 2007 by San Diego-based architect Wallace E. Cunningham.
The imposing concrete and glass mansion is perched on the edge of a cliff overlooking the Pacific Ocean.
And while many have been dubbing it ‘the Iron Man house’ due to its resemblance to Tony Stark’s house, it may be time for a new nickname that suits its famous owners better.
A closer look at Alicia Keys’ house, an architectural marvel overlooking the ocean
The modern cliffside mansion was designed by AD100 architect Wallace E. Cunningham, most famous for his striking residential projects, which he likens to sculptures.
More specifically, as the architect himself put it, he designs “one-of-a-kind sculptures for people to live in.”
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And that couldn’t be more true for some of his iconic residential projects: the Harmony House and the Wing House in Rancho Santa Fe, and the architecturally distinct Razor House that Alicia Keys and Swizz Beatz now call home.
Perched on the edge of a cliff overlooking the Pacific Ocean, the concrete and glass structure has long been rumored to be the real-life version of Tony Stark‘s futuristic mansion.
But the home has never made an appearance in any blockbuster movie.
It was, however, used for a VISA Black commercial and a luxurious Calvin Klein ad, but that’s pretty much all the screen time the mansion got.
That’s a shame because the house itself is worthy of the biggest screens on earth.
Nearly every wall in the residence is glass, while the floors are mostly hewn from travertine stone. An extra-long infinity pool (one of many) juts out over the cliff’s edge, turning swimming into the stuff dreams are made off.
Swizz Beatz and Alicia Keys’ house has endless concrete terraces that make the most out of the mesmerizing views of surrounding hills and the ocean below.
The three-story home comes with 6 bedrooms and 6.5 baths, with nearly every room opening up to stunning views.
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Fashioned with a state-of-the-art kitchen and giant round living room anchored by a fireplace, Alicia and her music producer husband, Swizz Beatz, have everything they need to unwind with their sons, Egypt and Genesis, including several outdoor lounge areas.
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Among its most notable amenities, the Razor House lists: an extensive fitness space, two steam rooms, a den, a theater, and a library with a custom-made Ralph Lauren pool table.
The Razor House was initially listed for $30 million
Initially listed for sale in 2018 for $30 million, La Jolla’s most famous home took a little over a year to make a buyer fall in love with it up to the point of committing enough to put a ring around…. those house keys.
But when it did, it nabbed more than just a nice selling price and some very famous new owners.
Putting an end to the property’s year-long run on the market, Alicia and her powerhouse music producer husband Kasseem Dean, better known as Swizz Beatz, purchased the Razor House for a cool $20.8 million.
The $20M+ selling price (despite being a considerable drop from the initial asking) made it one of the most expensive homes sold in La Jolla, California in 2019 — proving once again that whatever Alicia Keys does, she does in style and ready to set new records!
Neither Alicia Keys nor Swizz Beatz (who has produced hit singles for the likes of Kanye West, Jay-Z and Beyoncé) had any connection to La Jolla or the larger San Diego area when they bought the home, leading people to speculate that the iconic residence will serve as a vacation home for the couple.
But a tour given to Architectural Digest in late 2021 proved them wrong.
Not only do Alicia Keys and Swizz Beatz live in the Razor House, but they’ve turned it into an elegant, art-filled, inviting home. Take the tour:
The history of the Razor House before it became Alicia Keys’ home
According to the San Diego Reader, the futuristic structure was named after the land it sits on, a three-quarter-acre lot near Razor Point.
Created for original owner Don Cooksey (a software designer and entrepreneur who later filed for bankruptcy) many architects initially backed away from the ambitious project, calling it “rebuildable”.
That’s until Cooksey approached Wallace E. Cunningham, who bought the modernist gem to life — and built the dramatic estate to match the breathtaking landscape that surrounds it.
By 2011, following the financial hardships of its initial owner, The Razor House ended up in bankruptcy sale.
According to Realtor.com, Donald Burns, a Florida-based telecom entrepreneur and inventor of the magicJack — a device that allows you to make calls from your computer — purchased the property as a second home at the 2011 bankruptcy sale.
Burns paid $14,097,000 for the home and invested heavily in the property.
“He made a lot of upgrades to it,” Matt Altman, one of the property’s listing agents and star of reality TV show Million Dollar Listing Los Angeles said.
“He updated to the next level. He wasn’t doing this to make money; he was doing this to make a nice home. He did a significant amount of work on this house.”
The entire home is automated and optimized for iPad control of everything from audio and visual systems to motorized window coverings and control of the home’s radiant floor heating, air conditioning.
There’s also a backup generator to ensure power never goes down, and an entire computer room is dedicated to housing the home’s automation control systems. So basically, The Razor House may not be Iron Man’s house, but it does comes with its own Jarvis.
*This article was first published in September, 2019, reporting on the famous couple’s purchase of the home. It has since been updated for timeliness and accuracy.
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A chateau-style home set within a one-hour drive to the nation’s capital is eyeing a $15.9 million sale — and has all the goods to deliver.
The sprawling property is nestled on the banks of the Severn River at 938 Old County Rd — which is only 10 minutes from Annapolis — and comes with 900 feet of waterfront, a 350-foot pier, a majestic main residence, and a 6,000-square-foot guest house.
When it last sold back in 2014, the property nabbed one of the Top 10 spots in a Washington Post ranking of the most expensive homes sold in the D.C. area that year. And it’s easy to see why.
The property, which is currently listed with Day Weitzman of Coldwell Banker Realty (the Annapolis Church Circle office) for a whopping $15,900,000, is anchored by a stately French-inspired main residence.
Built in 2002, the palatial house boasts 16,621 square feet of luxuriously appointed living space, including a family room with stone fireplace, billiards room and bar, stone wine cellar and tasting room, media room, home gym with full bath and sauna, and a full bedroom suite.
It has a total of 6 bedrooms, 8 full baths, and 3 half baths, and includes a separate wing with an art studio/craft room and a motor court with two three-car garages.
But words may fail to express the grandeur of this estate, so we’ll let the property photos do the talking:
Impressive as the palatial main residence might be, the neighboring guest house is a million-dollar home all by itself.
Offering a generous 6,000 square feet of living space, the guest house faces the pool and comes with a covered veranda, outdoor fireplace and bar, gazebo, and views of the water.
A breezeway connects the guest house to a charming adjacent carriage house that has a three-car garage.
The gated compound spans 20 acres, with its lush grounds opening to a 900-foot shoreline on the Severn River, where a 350-foot pier offers six boat slips and two boat lifts.
And if you’re thinking that there’s no way such an impressive property wouldn’t have a famous owner, well, you wouldn’t be far off.
While we don’t know who the current owner is, prior to its last sale in 2014 the compound was owned by former AOL executive, Martin Fisher, and his wife Georgie.
The property also sits two doors down from a home actor Kevin Spacey rented during the filming of House of Cards.
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What do JFK, Jackie O., William Randolph Hearst, Beyonce, Francis Ford Coppola, and Whitney Houston have in common, besides incredible fame and fortune?
They’re all tied, in one way or another, to the house at 1011 N. Beverly Drive in California.
Also known as the Beverly House (or the Godfather house, or the Bodyguard house, take your pick), it’s long been one of the most expensive houses for sale in Beverly Hills, having last been listed in 2018 for $135 million, down from its ambitious initial ask of $195 million.
But despite its countless attributes and storied history, the property known simply as the Beverly House failed to attract a buyer, and was auctioned off in 2021 with a $63.1 million winning bid.
So, you’re probably wondering, ‘what makes this house so expensive?‘
As it turns out, the Beverly House has an illustrious history of hosting famous individuals and serving as filming grounds for some of the most memorable Hollywood movies.
The history of the Beverly House – and its glamorous Hollywood roles
The Beverly House, as we call it today, was designed by Gordon Kaufmann and built in 1926 for banking executive Milton Getz.
In 1946, it found a new owner in actress Marion Davies, who bought it for her lover, American media mogul William Randolph Hearst, a time when the sprawling property came to be known as the Hearst estate.
The businessman, who never divorced his wife, Millicent Hearst, lived at the estate with Marion until his death in 1951.
Their love affair, along with the wealth that surrounded it, was highly publicized at the time, with Orson Wells’ iconic Citizen Kane — recognized as the best movie ever made — being inspired by Hearst and Davies’ story.
Most notably, in 1953, the Beverly House was one of the destinations for JFK and Jackie Kennedy’s honeymoon, and later, it even served as Kennedy’s West Coast presidential election headquarters.
But the estate’s interesting history doesn’t end here.
Remember that scene in The Godfather when Hollywood producer Jack Woltz, after having crossed the Corleones, wakes up with a severed horse head in his bed?
The infamous scene was allegedly filmed at the house at 1011 N. Beverly Drive, although the property’s previous owner suggests that might not be true after all.
True or not, the estate has been often referred to as ‘the Godfather house’ because of its alleged appearance in one of the most famous movies of all time.
And while it may be up for debate whether 1011 N. Beverly Drive is indeed the Godfather house, one thing that can’t be contested is that the property is The Bodyguard house.
Prominent scenes from The Bodyguard, the wildly popular 1992 movie starring Whitney Houston and Kevin Costner, were filmed on-site at the 1011 N. Beverly Drive house.
The pool and outdoor area in particular have been heavily featured in the 1990s box office hit.
In recent years, the estate’s biggest claim to fame — other than being one of the most expensive homes for sale in the area — was its feature in Beyoncé‘s latest visual album, Black Is King.
Queen Bee shot a number of scenes in the Spanish-style mansion, which served as the perfect backdrop for the colorful visual feast thanks to its light pink hue and pops of green foliage.
1011 N. Beverly Drive’s many attempts at finding a new owner
You would think that buyers would line up to snag such a prestigious estate, but the Beverly House was a tough sell, despite its fame.
It was put up for sale in 2007 with an asking price of $165 million, a pretty steep price at the time. After a few years on the market, it was listed again in 2010, with a ‘discounted price’ of $95 million.
The Beverly House hit the market again in 2016, asking a whopping $195 million, but it failed to find a buyer. By 2018, it made the news rounds again, being listed with a price tag of $135 million.
Prospective buyers were long put off by the steep asking price. Besides, there probably isn’t a lot of demand for 19-bedroom, 29-bathroom homes, not even in ritzy Beverly Hills.
But the estate’s long wait for a new owner came to an end in 2021, when the property hit the auction block.
Who owns the Beverly House now?
Billionaire investor Nicolas Berggruen is the newest owner of the former Hearst Estate, after paying $63.1 million for the property at auction in 2021.
Prior to that, the Beverly House had been owned by financier and attorney Leonard M. Ross for more than 40 years.
Ross declared bankruptcy in 2010, which might explain why the house was listed for ‘just’ $95 million that year, however, he didn’t have any luck finding a buyer.
Even prior to the auction, Ross openly admitted that he was aware that there aren’t a lot of buyers out there interested in a property of this size, so he’d be willing to sell just a percentage of the home, if needed.
That’s likely why he was also open to renting out the Beverly House for a monthly rate of $600,000 to $900,000, or $20,000 to $30,000 a day.
A closer look at the sprawling estate with 19 bedrooms and 29 bathrooms
The Beverly House, or the Hearst estate, as some still call it, is spread across 3.5 acres of land, on a 153,692-square-foot lot.
It features 19 bedrooms and a whopping 29 full bathrooms, as well as a jaw-dropping wood-paneled library, a covered ballroom that can accommodate more than 1,000 guests, a billiards room, and a tiled formal dining room that can seat up to 400 people.
Other features include a massive courtyard and garden, gated entry, a hot tub/spa, swimming pool, a wine cellar, a bar, a tennis court, terrace and balconies.
Outside, in the expansive gardens, there are Venetian columns, waterfalls, a projection room, and even a nightclub.
Leonard Ross further added to the dazzling array of fabulous amenities by creating his very own Art Deco-style lounge modeled after ‘Touch,’ Hugh Hefner’s former Beverly Hills club.
Ross reportedly purchased the doors of the club when it closed, doors that were commissioned by Hefner himself, along with the etched glass and the bar.
The billiards room is also one of a kind, featuring herringbone parquet floors, a hand-carved stone fireplace mantle, and an intricate ceiling that’s identical to one of the ceilings at Hearst Castle.
All of this within just three blocks from the Beverly Hills Hotel and the bustling Sunset Boulevard.
The property on Beverly Drive is known by many names: the Beverly House, the Godfather house, the Kennedy estate, the William Randolph Hearst house, or ‘that gigantic thing that everyone always talks about but that nobody wants to buy.’
Even so, we’re happy to see that the house proved naysayers wrong and that a new owner took the reigns at 1011 N. Beverly Drive.
If you’d like to take a closer look at this iconic estate, you can take a short tour of the house by watching the video below:
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In the scenic seaside neighborhood of Corona del Mar in Newport Beach, a newly listed coastal home will make you rethink your house goals.
Dubbed ‘The Island House’, the dreamy property sits on three homesites that have been combined to create what is now one of the most expensive homes in the already-exclusive community.
Properties in the Orange County riviera are notoriously expensive, with the median listing price in the area averaging $4.8 million, according to Realtor.com.
Even so, the 7-bedroom Island House gives the rest of Corona del Mar’s pricy listings a run for their money – pun intended.
Priced at $29.5 million, the property is one of the most expensive homes for sale in the area. A Brighton Road home that’s set about 2 miles away currently claims the #1 spot with a $35 million price tag.
On a county level, the property ranks in the top 12 most expensive homes in Orange County, with a newly built Newport Coast mansion (known as Palais du Cristal) leading the rankings with its whopping $69.8 million ask.
But there are a few aspects that are completely unique to the Island House — from its past presidential ties to the three lots it sits on.
The previous owners bought the property back in 1999 with plans to rebuild it into their dream home. To do that, they also purchased two adjacent lots and combined them into one homesite that has no direct neighbors.
According to our sources, back in the day, Ronald Reagan and his family used to frequent the original residence that stood on the property.
But there’s not much left of the presidential favorite. The previous owners embarked on an extensive renovation (carried on by the current seller), which transformed it into a magnificent residence that combines traditional and contemporary design.
With sweeping ocean views from nearly every room — directly overlooking Newport Harbor, the Balboa Peninsula, Catalina Island, Palos Verdes and popular surf spot, The Wedge — the exclusive home offers seven bedrooms and ten bathrooms, spread across 7,168 square feet of living space.
Designed for entertaining, working and relaxing at home, The Island House features a long list of private amenities.
An elegant office with glass and steel-framed walls opens to a patio and three-hole putting green. The lower entertainer’s level boasts a 650-bottle wine room with a tasting area and a 15-seat home theater with a 120” screen and surround sound.
On its own level at the third floor is an additional game room with a full bath, 32-bottle wine fridge, Fleetwood doors, patio and sunbathing area.
While it’s hard to pin down all the noteworthy features of the $29.5 million home, some of its standout features include Fleetwood windows and doors, an open-plan great room, expansive pool and spa, BBQ kitchen/bar, and outdoor entertaining area that can fit roughly 100 guests.
Outside, the three- to six-foot deep pool, heated spa and multi-colored ambient lighting, and pool terrace with ample space provide the perfect spot for shaded or sun-drenched lounging.
Dancing water features add a picture-worthy setting with the ocean as a backdrop.
The Island House is listed with Mauricio Umansky, Phillip Caruso, Michael Caruso, Roxy Gonzalez of The Agency.
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