North Carolina

Charlotte Chosen To Host Democratic National Convention, Let The Hotel Packages Begin

The Democratic Party has announced that Charlotte, North Carolina will host the 2012 Democratic National Convention. The city beat out St. Louis, Minneapolis and Cleveland to be the city where President Obama will accept the Democratic nomination and begin his campaign for reelection. The convention will begin on September 3, 2012. The Republican Party will host its convention in Tampa, Florida.

The Ritz-Carlton, Charlotte has launched today a Red, White, Blue and Green package to celebrate the announcement. Red, White, Blue and Green will feature overnight accommodations and a wine and cheese experience in the hotel's Urban Sip Wine and Scotch Bar. The new bar on the 15th floor provides beautiful views of Charlotte and offers Carolinas' largest selection of premium wines by the glass, as well as the city's largest menu of Scotches. Flights for two of both red and white wines and a flight of artisanal bleu cheeses will highlight the Urban Sip portion of the package. The green factor comes in both because the hotel is LEED Gold-certified and because package guests driving an electric or hybrid car will receive included overnight hotel parking. Offered Thursday through Saturday evenings from today until the Convention, and based upon availability, Red, White, Blue and Green at The Ritz-Carlton, Charlotte is priced from $269 per couple per night. Reservations may be made at 800-241-3333, at http://www.ritzcarlton.com, or through a travel professional.

The Charlotte Observer reports that after the announcement was made hotel managers sprung into action as they fielded calls looking for rooms. Some hotels are already running out of space. There are approximately 15,000 hotel rooms in or within 30 minutes of uptown and access to at least another 15,000. The Republican National Committee is expecting similar action in Tampa, planning on filling 15,000 hotel rooms. Rooms and houses for rent have also popped up on Craigslist and through other residential listing sites, a phenomenon that will only increase as the event draws closer.

Tags: Democratic National Convention, dna, dnc, hotel packages, north carolina, ritz-carlton, ritz-carlton charlotte

Chinqua Penn Estate Seized In Bankruptcy Case

by Deidre Woollard (RSS feed) —

Filed under: Estates

One of North Carolina's beautiful estates that is open to tourists, Chinqua Penn Plantation near Reidsville, North Carolina, was turned over to a trustee earlier this week. The property was seized as part of a bankruptcy case involving tobacco executive Calvin Phelps and three of his companies. The estate was built in the 1920s by the Penn family. In 1959 it was given to the state of North Carolina and Phelps bought the property in 2006 for $4.1 million, possibly with company money.

BusinessWeek quotes bankruptcy examiner Gene Tarr who said in a court filing that "squandered and wasted corporate assets and otherwise breached his fiduciary duties of loyalty" and he asked a bankruptcy judge to force Phelps to give back at least $8.1 million he used to buy Chinqua-Penn, two corporate jets, cigar-manufacturing equipment, a $142,000 Maserati and other assets. The Winston-Salem Journal details the history of the Chinqua Penn Plantation. It was closed in 1991, reopened in 1995 for meetings and weddings, closed again in 2002 and then reopened under Phelps' ownership hosting weddings, meeting and events like Great Gatsby day. The property is famous for its beautiful flowering gardens. Tickets to tour the estate sell for $20. The estate is closed to the public until Saturday morning.

Tags: calvin phelps, chinqua penn, north carolina

J.D. Salinger's Toilet Offered for $1 Million on eBay

by Jared Paul Stern (RSS feed) —

Filed under: Auctions

The new owner of late reclusive author J.D. Salinger's compound in Cornish, New Hampshire is apparently selling off some of the house's fixtures with an eye towards cashing on on his literary reputation. The Vault of Forsythe, Inc., a collectibles dealer based in North Carolina, is handling the items and has just listed the toilet from Salinger's home on eBay with a "buy it now" price of $1 million, though other offers are being accepted and five have apparently already been made. This could well be a hoax aimed at those who are overly worshipful of the Catcher in the Rye author, but as the vendor seems legit we doubt it. We won't speculate on the process of authentication however. The full listing for the curious commode reads as follows:

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Tags: author, collectibles, Cornish, eBay, J.D. Salinger, literature, memorabilia, New Hampshire, North Carolina, The Catcher In The Rye

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Bank of America's Contemporary Art To Go On Display

by Deidre Woollard (RSS feed) —

Filed under: Events, Art

Lately it seems that corporate art is spending less time in offices where only a few can delight and into museums where the art is on display for all. Bank of America's art will be on display at the new Mint Museum in Charlotte, North Carolina this fall. October 1 will bring "New Visions: Contemporary Masterworks from the Bank of America Collection" to the museum. It will showcase more than more than 60 paintings, sculptures, works on paper and photographs by American artists such as Robert Rauschenberg and Frank Stella. Ed Ruscha's Clockspeed is shown at right. Pieces date from 1945 to the present.

"(Charlotte) is (Bank of America's) headquarters and the Mint is the flagship arts institution," said Allen Blevins, senior vice president and director of the bank's corporate art program in a quote in the Charlotte Observer. "It's going to be a phenomenal show."

The Bank of America Collection is said to be one of the largest and finest in the world although the size and value are not known. The collection is focused on contemporary American art. The bank did not set out to collect art but it did collect banks. The art was acquired by banks in different parts of the country which were later acquired by Bank of America and so it includes artists from a variety of U.S. cities. The exhibit includes many large pieces, some of which haven't been seen on the East Coast before. The Observer article says that while the Mint had pick of the litter in assembling the exhibit, it was Bank of America that picked up the tab when it came to the many costs of staging the exhibit including crating and shipping. The Mint will keep the money earned from ticket sales. The exhibit is part of Bank of America's Art in our Communities program. From 2008 to 2010, Bank of America will have loaned more than 30 exhibitions to museums internationally.

Tags: art, bank of america, charlotte, corporate art, mint museum, museums, north carolina

NASCAR Hall of Fame To Open On Tuesday

by Deidre Woollard (RSS feed) —

Filed under: Luxury Cars & Autos, Events

NASCAR fans are eagerly awaiting the opening of the NASCAR Hall of Fame in Charlotte, North Carolina on May 11. The150,000-square-foot facility is a palace for fans of the sport that will showcase not only exhibits but also driving games and race simulators to give the fans a taste of real NASCAR action. Attendees can compete or take a turn announcing the race like a sports commentator. A replica track mimics the 33-degree bank at the Talladega speedway. The opening will include NASCAR greats in attendance including Richard Petty, Bobby Allison, Johnny Benson, Richard Childress, Brian France, Rick Hendrick, Dale Jarrett, Bobby Labonte, Rusty Wallace and Rex White. Tickets are $19.95 for adults and memberships start at $50 for adults.

Gallery: NASCAR Hall

[via NY Times]

Tags: car museum, charlotte, nascar, north carolina, Talladega Superspeedway, TalladegaSuperspeedway

Second-Home Condos Up For Auction In North Carolina

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

Our never-ending quest for condo auctions takes us to Banner Elk, North Carolina where, on June 5, the final 18 mountainside residences at The Lodges at Elkmont will go up for sale. The Lodges at Elkmont is a a 56-unit luxury condominium community set in the Blue Ridge Mountains. The units will be sold at a developer close-out auction by Sheldon Good & Company.

The auction company says this is the first second-home real estate auction to take place in the North Carolina marketplace. The 18 units are luxury mountain retreats set in the heart of the High Country and located only two hours from both Charlotte and Greensboro and three hours from Raleigh. There are five floorplans with two or three bedrooms and approximately 1,200 to 2,350 square feet of space. Homes have vaulted ceilings, stone fireplaces, oak floors, designer kitchens and covered decks. The minimum bids from $125,000 are up to 74% below the original asking prices, which ranged as high as $771,000. Eight homes are guaranteed to be sold subject to minimum bids.

The auction will be held on June 5th at the Embassy Suites Hotel at the Greensboro Airport Registration begins at 11am with the auction commencing at noon. Homes offered at the auction may be viewed on May 8th-9th, 15th-16th, 22nd -23 rd and 29th - 31st, from 11am to 3pm.

Tags: condo auction, lodges at elkmont, north carolina, second home auction, sheldon good

Condos For Auction in the Outer Banks

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

ore oceanfront condos are headed for auction. This time we are zooming over to Nags Head, North Carolina for 20 condos which will be auctioned off on March 27. The Landings at Sugar Creek condominiums overlook Roanoke Sound and offer sunset views with ocean views from the higher units and a walk to Nags Head Beach. The condos are being sold absolute and there are 13 different floorplans with two to four bedrooms each. Units have granite kitchen countertops, private terraces and access to the dock, pool and clubhouse.

Tags: condo auction, CondoAuction, condos, nags head, NagsHead, north carolina, NorthCarolina, outer banks, OuterBanks, sugar creek, SugarCreek

Remaining Madoff Homes Already Discounted

by Tom Johansmeyer (RSS feed) —

Filed under: Real Estate Developments

Bernie Madoff's last home may have sold strong, but it looks like the momentum is fading. His home in the Hamptons beat the listing price and ultimately moved for more than $9.4 million. Unfortunately for his victims, interest in his Manhattan penthouse and Palm Beach estate isn't as strong. The prices for both have been cut, as the Ponzi schemer moves from news to history. Both homes have been on the market for only two months.

The Manhattan home, on the Upper East Side, offers 4,000 square feet which the broker, Sotheby's International Realty, says is "perched atop a distinguished white-glove prewar cooperative." Originally offered at $9.9 million, the asking price has been slashed by $1 million. So, if you're looking for some new digs in the city, this should be perched atop your list. A 10 percent price drop after only two months in the game means that you could probably work the price down a little bit further. If you were a Madoff investor, think of it as recouping some of what was so wrongly taken from you.

The situation in Palm Beach, Florida isn't much better. The discount is only 7 percent, with the price plunging from $8.49 million to $7.9 million according to the Corcoran Group, which is handling the sale. This home is billed as "a return to classic Florida island living ... when Palm Beach was a less manicured tropical paradise." What does that mean? Does classical Florida island living have anything to do with defrauding the neighbors?

Madoff, now a resident of Butner, North Carolina, believed that the Manhattan apartment was worth only $7 million. He pegged the Palm Beach residence at $11 million.

When both properties move, the proceeds will go to Madoff's victims. Of the $65 million, roughly, that he took, $1.4 billion is said to have been recovered. Even when compared to the investor losses identified, $21.2 billion, it's but a drop in the bucket. The auction scheduled for Saturday may help a little bit, with Bernie's Mets jacket and Ruth's golf clubs going under the gavel.

Gallery: Bernie Madoff In New York City

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Tags: bernard madoff, BernardMadoff, bernie madoff, BernieMadoff, butner, florida, hamptons, hamptons real estate, HamptonsRealEstate, madoff, madoffponzischeme, madoffscandal, manhattan, manhattan real estate, ManhattanRealEstate, new york, new york new york, NewYork, NewYorkNewYork, north carolina, NorthCarolina, palm beach, PalmBeach, ponzi scheme, PonziScheme, real estate, RealEstate, sothebys international realty, SothebysInternationalRealty, upper east side, upper east side apartment, UpperEastSide, UpperEastSideApartment

Madoff's Long Island Beach Home Fetches $9.41 million

by Tom Johansmeyer (RSS feed) —

Filed under: Estates, Crimes and Misdemeanors

The world's most accomplished Ponzi schemer -- right up until he got caught, that is -- finally lost his beach home. Bernie Madoff's Montauk house moved for $9.41 million, according to the U.S. Marshals Service, more than the $8.75 million for which it was listed. It sold on Friday, and the buyer is not being named. It only took a month to make the transaction happen.

Joseph Guccione, U.S. Marshal for the Southern District of New York, calls this "another step forward for the government," and though he didn't mention anything about the victims, one assumes that it's progress for them, too. After all, it would be nice if they got even a taste of this cash.

Several bidders tried to get their hands on Madoff's former home, which measures 3,000 square feet and has four bedrooms and three bathrooms. The losers can have another shot at Madoff glory, though, as properties in New York and Palm Beach, Florida, are listed. The former is on the market for $9.9 million, and the latter is listed for $8.49 million.

Madoff was unable to take a last walk through the halls of the Long Island residence, of course, because he's otherwise ~~detained~~ committed in Butner, North Carolina. But, he's adapting, having already thrown down on the block and earned himself some props.

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Tags: bernardmadoff, bernie madoff, BernieMadoff, butner, florida, madoff, madoffponzischeme, madoffscandal, montauk, new york, new york city, new york new york, NewYork, NewYorkCity, NewYorkNewYork, north carolina, NorthCarolina, palm bay florida, palm beach, PalmBayFlorida, PalmBeach, ponzi, ponzi scheme, PonziScheme

North Carolina's Supercar Sensation: All the Fun, None of the Hassle

by Noah Joseph (RSS feed) —

Filed under: Luxury Cars & Autos

Exotic supercars are the antithesis of affordable. That's part of their allure. After all, if we could all afford them, they wouldn't be all that exotic, now would they? That hasn't stopped several companies from trying to make driving them an accessible venture, however. Unfortunately in the current economic climate, membership-based supercar clubs have been closing faster than your favorite bar after last call. A new company has sprung up, however, with a different approach. North Carolina-based Supercar Sensation boasts a staggering collection of supercars – including Ferraris, Lamborghinis, Porsches, Aston Martins and more – all available for the paying customer to drive. Open-road and track sessions are organized regularly, starting at $199. There are no membership fees to pay, no maintenance bills to foot. Just show up with cash or card in hand and they'll take care of the rest...except for the driving. Check out the Supercar Sensation website for all the information.

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Tags: carolina, north carolina, NorthCarolina, supercar club, supercar sensation, SupercarClub, SupercarSensation, test drive, TestDrive, track session, TrackSession

Bank Of America Buys Exec's Slow Selling Home

by Deidre Woollard (RSS feed) —

What happens when an executive gets a transfer and can't sell their house? In some cases, no need to worry, your company will buy your slow seller. Bloomberg tells the story of Barbara Desoer, who put her house in Charlotte, North Carolina, on the market in August for $1.675 million when she was named head of Bank of America Corp.'s real-estate unit, Countrywide Financial Corp., in Calabasas, California. She and her husband had bought the home in 2000 for $1.15 million. It sold in December, to Bank of America which has put the home up for sale for $1.295 million. A proxy statement reveals that Bank of America will cover costs associated with the sale of the Desoers' house, plus $1.5 million for costs on their new home in California and another $1.1 million for tax-related costs.
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The home is in one of Charlotte's priciest neighborhoods where the inventory of million-dollar homes on the market is very high. It would take years to sell just what is available now reports a local real estate agent. In Charlotte, which is home to Bank of America, home sales have been falling since June 2007. Wells Fargo & Co.'s purchase of Charlotte-based Wachovia, could mean more job cuts and more homes on the market.

Gallery: A Bank of America Exec's Charlotte Home

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Tags: bank of america, BankOfAmerica, barbara desoer, BarbaraDesoer, charlotte, north carolina, NorthCarolina

Eagle's Nest, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Today's home is one of the luxury lodges in the Eagle's Nest enclave in Banner Elk, North Carolina. Why Eagle's Nest? A peek at the view gives an indication as to the name. This lodge home is part of a 1350-acre luxury camp perched in the Blue Ridge Mountains with stellar views. The community was envisioned as a luxury camp offering outdoor sports, an equestrian center, art studio, library and more for grown-up campers with money to spend.

Today's home is Lodge 24, a five-bedroom wood and stone retreat with exposed beams, a floor-to-ceiling fireplace and colored glass chandelier in the great room and a barrel-shaped wine cellar. The home has two master suites, two guest bedrooms, a gym, media room, and a gourmet kitchen which features a sexy river-like sink set into the wood counter. There are five fireplaces and multiple decks offering sweeping mountain views. This home is listed at $5.3 million.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Gallery: Eagle's Nest

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Tags: banner elk, BannerElk, eagles nest, EaglesNest, estate of the day, EstateOfTheDay, north carolina, NorthCarolina

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Is Asheville Ready For $2 Million Green Condos?

by Deidre Woollard (RSS feed) —

Filed under: Green, Real Estate Developments

Asheville, North Carolina isn't the place I would expect to find $2 million condos but a local developer is hoping that they can find ten green-minded buyers to make the 73 North Street project a reality. The project is built on a small lot and includes a photovoltaic array on the roof and a garage that will only fit Smart cars (a Smart car comes with each unit).

The first floor of the building will have a small commercial space and the second will include an exercise room and spa and a guest room for visitors of building residents. The building's roof would be home to a lounge and garden. The building is planning for LEED certification and will include green features such as a water collection system, water-conserving fixtures, high-efficiency appliances and automated lighting and shading systems.

The building's units will sell for $2.1 million to $2.6 million and each would be about 2,300 square feet and take up an entire floor. According to an article in the Citizen-Times, the project won't go forward unless six of the units are sold in advance. Right now you can buy a large house with an acre or two of land for about that price in the Asheville area so the developers have an uphill climb ahead of them.

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Tags: asheville, condominiums, condos, green, leed, north carolina, NorthCarolina, real estate, RealEstate

Pembroke Hall Up For Auction

by Deidre Woollard (RSS feed) —

Filed under: Estates, Auctions

Another historic home is up for auction. Pembroke Hall in Edenton, North Carolina was built in 1850 and is one the National Register of Historic Places. The home has 17 rooms, eight Italian marble fireplaces and a wine cellar. It is located on a two acre plot overlooking Pembroke Creek and Edenton Bay. The Greek Revival home has Corinthian and Doric columns with two-story porticos, murals and a hand painted antique wallcovering from China. The property has a current tax value of $2,002,030 was previously priced at $2.9 million but has been priced as low as $1.4 million. Recently, according to an article in The Virginian-Pilot, another historic 1850 house across the street from Pembroke Hall sold for $1.6 million. The opening bid in the online auction is $100,000 and the auction ends on January 9.

Gallery: Pembroke Hall

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Tags: north carolina, NorthCarolina, pembroke hall, PembrokeHall, real estate auction, RealEstateAuction

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Fantasia Faces Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Celebrity Shopping

American Idol winner Fantasia Barrino has become the latest to join our celebrity foreclosure club. A home in Charlotte, North Carolina owned by the singer will be auctioned to pay back a loan that was used to pay her taxes. Broward Energy Partners paid more than $68,000 of her taxes in 2006 and says they have not been fully compensated. The earnings from the sale would be used to finish paying off the loan. The Mecklenburg County Sheriff's Office will auction off the home on January 12 unless she pays her debts. She has another home in the area that is said to be valued at $740,000.

Gallery: Celebrity Foreclosures