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FrenchRiviera

Villa Shamballa, Estate of the Day

Filed under: Estates


Last week we covered the Wall Street Journal's mention of a luxury villa on the French Riviera. Now we are zooming in for a closer look. Villa Shamballa is in the town of Cap,D'Ail a seaside resort town in southeastern France that borders Monaco. The contemporary style villa was completed last year and spreads over 9,300 square feet. It has ten bedrooms, two terraces, a stone guest house and a wine cave. The home's hillside location delivers incredible views of the Mediterranean Sea. The home was built by retired real estate developer Jean-Claude Rahn and his wife Ursula Neuerberg, of the German cigarette manufacturer Haus Neuerburg and the home has been visited by celebrities including Prince Albert of Monaco, Claudia Schiffer, Michael Shumerer. The home is listed at 38.5 million euros.

Villa Leopolda Now Worth Only $40 Million?

Filed under: Estates, Wealth


Villa Leopolda in Cap Ferrat (above), once the world's most expensive estate with a $750 million pricetag, may now only be worth $40 - $50 million thanks to plunging prices in the wake of the global recession, according to Sotheby's International Realty CEO Alexander V. G. Kraft. "For trophy properties it used to be a question of how much someone was willing to pay," Kraft tells the London Telegraph. "They would come quietly onto the market – they would be marketed under the table. This system really has totally collapsed. Buyers willing to pay anything like those sums just don't exist anymore." The paper says "panic sales" are on the rise in the ritzy area.

As we wrote about back in February, Russia's richest man Mikhail Prokhorov had reportedly agreed to purchase the Villa for $750 million but later backed out of the deal, forfeiting a $55 million deposit. The estate has not been re-listed. "Prices are coming more in line with the rest of the market," Kraft declares. "Trophy properties will be more in line with 'normal luxury properties' – about 20 to 30 million [euros]." Peter Ilovsky, director of Sotheby's International Realty in Cap Ferrat, says they're still good investments however. "Owning a property in Cap Ferrat is like having a Picasso," he tells the paper. "It's certainly better than placing the money in a Swiss bank."

Russia's Richest Man Backs Out on $750 Million Mansion

Filed under: Estates, Wealth


It seems that Russia's new richest man, Mikhail Prokhorov, may not have been telling the whole truth when he denied buying the world's most expensive house, the $750 million Villa Leopolda (above) on the French Riviera, last year. Back in August we reported that the metals magnate was the mysterious purchaser of the eye-popping property, but Prokhorov, who's worth $14.1 billion, protested his innocence, saying he declined to do business in France because of a mix-up with some prostitutes and the French police. Now the London Times reports that Prokhorov signed a contract on the property and paid a $55 million deposit, but wants to back out of the deal.

Prokhorov reportedly lost $7 billion in the economic crisis but has fared better than fellow oligarch Roman Abramovich. Prokhorov will likely face a legal battle over the deposit, which is non-refundable under French law, with the Villa's seller Lily Safra. "Lily is adamant that she's not handing the deposit back," a source close to the deal tells the London Daily Mail. "Mr. Prokhorov, in turn, claims that property prices have collapsed since August, and the figures originally discussed were unreasonable. He wants out, and he wants his money back." We expect Prokhorov, founder of a new magazine for snobs, will likely issue another denial this time as well.

The Classicist: A Toast to F. Scott Fitzgerald

Filed under: Spirits, The Classicist


Drinking, if done well and stylishly, can lead to literary inspiration. Or at least not impede it too much. Take that great chronicler of wealth and society F. Scott Fitzgerald, for instance, whose 112th birthday is about to be celebrated; some of his best work was clearly done under the influence. Just look at Tender Is the Night (1934). Of course the intemperate author, left entirely to his own devices, might have been less poetical in his consumption of alcohol and thereby rendered a less perfect work of art. But his great friends, patrons and mentors Gerald and Sara Murphy, upon whom Tender Is the Night is based, showed him how to do the thing properly.

The beautiful, rich and clever Murphys, central figures of expatriate social and cultural life of the Jazz Age in France, held court at their villa on the French Riviera in Antibes - this was long before the Russian billionaires arrived, before there even was such a thing in fact - and dispensed cocktails at the dazzling dinner parties immortalized in the book. Gerald tried to limit his guests' consumption of same in order to prevent the gatherings from devolving into total inebriation, though Fitzgerald usually managed to down more than his fair share. This often led to breakages, shouting matches and even suicide attempts, proving Murphy right.

The Fitzgeralds of course, were legendary boozers. When they later lived in shabby gentility in Great Neck, Long Island, they would drive back and forth to Manhattan for binges in a second-hand Rolls-Royce. Their houseboy would frequently find them passed out on the lawn in the morning, the car more or less in the driveway. For Murphy, however, drink-making was a stylish ritual imparted by his father, owner of the Mark Cross luxury goods company.

Mystery Buyer of World's Most Expensive House Revealed

Filed under: Estates


The mysterious billionaire who just bought the world's most expensive house - the $750 million Villa Leopolda (above) on the French Riviera - is none other than controversial Russian precious metals mogul Mikhail Prokhorov, the AFP reports. Luxist readers may remember Prokhorov as the over-the-top tycoon who announced plans in April to spend $150 million launching a magazine for snobs in Russia, called simply Snob. Prokhorov is ranked as the 24th richest man in the world with a $22 billion fortune. Some earlier reports had erroneously identified the villa's buyer as Roman Abramovich. Last year Prokhorov was briefly detained during an investigation into a suspected prostitution ring at the ritzy ski resort he frequents in the French Alps.

Rsidence Suprieur "Extreme Luxury" Concept

Filed under: Decor, Journeys, Wheels, Real Estate Developments


Financial whiz turned "lifestyle designer" Richard Nilsson apparently felt that plain old luxury had lost its luster, so he decided to focus on "extreme luxury." When he was running a business empire Nilsson was only able to take one week off per year, so for his first project he came up with the "Résidence Supérieur" concept as an ultimate retreat where vacationing moguls and movie stars could pack as much luxury and privacy into their vacation as possible, cost be damned.

The first RS is the Villa Oxygene in Cannes on the French Riviera. In addition to ultra-luxe surroundings, it includes exotic sports cars, a private jet and helicopter, yacht, butler, chef, bodyguards and basically anything else you could wish for. Desperate Housewives star Eva Longoria recently shot an ice cream commercial there, and Nilsson is now planning other equally outrageous outposts. See the gallery for pix.

Riviera's Famed Provenal Hotel to Re-Open as Apts.

Filed under: Journeys, Real Estate Developments


A famed Art Deco hotel on the Côte d'Azur that's been derelict since 1973 is being turned into a luxury apartment building catering to the bon ton. Developer Cyril Dennis is relaunching Le Provençal, on the border between Juan-les-Pins and Cap d'Antibes, where the likes of Coco Chanel, Winston Churchill, Marilyn Monroe, Frank Sinatra, Ella Fitzgerald, Ernest Hemingway and F. Scott Fitzgerald once frolicked.

The London Telegraph reports that Dennis is transforming the 45,000-sq.ft. beachside property, built in 1925, into 56 luxury units with 360-degree views, indoor / outdoor pools, private gardens, Porsche kitchens, marble floors, Turkish baths and aquariums. He describes the Provençal as "the last jewel in the Cap d'Antibes," an area where top-drawer villas now go for over $200 million thanks to an influx of superrich oligarchs such as Roman Abramovich.

Gallery: Le Provençal

Marilyn Monroe on the beach.The dilapidated entrance.Renderings of the new Le Provençal.The Provençal today.The beach at Juan-les-Pins.

Sensation Yacht Comes With Its Own Berth

Filed under: Water


One of the challenges of owning a yacht can be finding a place to berth her. The Sensation yacht for sale through Edmiston comes with its own spot on the French Riviera. The Sensation package includes the 1999 Mangusta 80 -foot Sensation as well as a desirable berth in Camille Rayon in the town of Golfe Juan and a 2005 Sunriva sports boat. Sensation has light interiors with cream leather sofas, plush carpeting and rare woods. The yacht went through a refitting and upgrading in 2007 and can sleep 7 guests and 3 crew. On deck there is a large cushioned sunbathing area aft of the cockpit and forward on the bow. There is also a dining and lounging area on deck and the entire cockpit area is air conditioned with a retractable cover for shade and privacy. The package is listed at 2,950,000 euros and a week's charter starts at 37,000 euros.

[via Superyacht Times]



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