All of Los Angeles is buzzing over the news of Candy Spelling's big real estate move. The 62-year-old wife of the late Aaron Spelling is planning to move out of her mansion, a 123-room, 56,500-square-foot mansion on six acres in the Holmby Hills area, and into a condo. But don't feel too sorry for Candy, while her new home will be less than a third the size of the old one, it is still a whopping 16,500 square feet and sits atop The Century building which is being built next door to the Century Plaza Hotel on Avenue of the Stars. The condo will have 360-degree views of the city all the way to the ocean.

Spellings new condo went for $2,848 per square foot which works out to an astounding $47 million, a record for a Los Angeles condo. The LA Times has a few details of Candy's new two-story pad. The lower floor will include a living room with two working fireplaces, a dining room for 25 guests, and staff quarters while the top floor will be home to the bedrooms, a massage room, exercise room, conservatory with rose garden, swimming pool and a deck. The master suite alone is 4,000 square feet. She will move in next year which means that the Spelling mansion may soon be on the market. Rumors of offers have been swirling for a while but we could even see a listing now unless it sells quickly and privately to someone willing to spend around $150 million for a home with a bowling alley and a gift wrapping room among its many luxuries.

From the LA Times Hot Property:
--Garth Brooks and Trisha Yearwood have picked up a home on the Malibu beachfront that had been listed at $5.45 million. Big Time Listings found the property website which is here.
--Cincinnati Bengals quarterback Carson Palmer has listed his Laguna Beach, California home. It's our estate of the day later today.
--Michael D. Kunce, the president of Armstrong Garden Centers and his wife, Marianne, have listed their palatial Claremont home, Villa Di Fiori, for $3 million. The listing is here.
--Stuntman-turned-director Scott Gillen has listed his midcentury modern in Malibu at $5.475 million. The property website is here.


From Big Time Listings:
--Teri Garr has sold her two-bedroom house in Brentwood. It was listed for $3,995,000.
--Danny DeVito and Rhea Perlman have sold their two-bedroom condo unit in Encino after it had been on the market for $750,000.
--Andrew Alexander, who co-owns the Second City improvisational comedy troupe in Chicago has paid $1.395 million for a house in the Beverly Hills Post Office area.

From the Real Estalker:
--Denise Richards has put her Hidden Hills home on the market for $4.25 million. The listing is here.
--Paul Bettany and Jennifer Connelly's Brooklyn home has gone to contract. It was our estate of the day in May.
--Brett Butler has sold her home for $2 million.
--Producer Mark Brazill is still trying to unload the 1920s home in Los Feliz he bought from Gwen Stefani and Gavin Rossdale. He paid $4.795 million for the home, relisted for $4.885 million and has now cut the price all the way down to $3.995 million which means he will take a huge loss on the home. The listing is here.
----Angela Bassett and Courtney Vance seem to have finally sold their Hancock Park home. The home which was originally listed at $5.999 million went all the way down to $3.9 million and is now listed as "looking for backup."
--CSI: Miami actress Khandi Alexander's home is back on the market for $2.995 million. The listing is here.
--Real estate agent Joe Babajian has put a home in Westwood on the market for $1.95 million. The listing is here.
---Ellen Degeneres and gal pal Portia Di Rossi have picked up a third property on Cabrillo Drive which will allow them to request permission from the city of Beverly Hills to gate the entire street. It is rumored that Ellen may have spent around $40 million total to create a new massive compound.
--Candy Spelling is selling a pair of condos in Century Woods, a small gated community in Century City. Both condos have five bedrooms but the one with over 8,000 square feet is listed at $7.895 million and the one that is a bit under 5,000 square feet is listed at $4.795 million.
--Musician Beck and Marissa Ribisi have put their Hancock Park home on the market for $9 million. The pair bought for $6.75 million a little over a year ago. The six-bedroom home also comes with a professional recording studio and rehearsal room in the guest house. The listing is here.

From the NY Post's Gimme Shelter:
--Ralph Fiennes has paid $2 million for a one-bedroom condo loft on West 13th Street.
--Veronica Hearst sold her Upper East Side co-op (two apartments) at 4 E. 66th St. for $36.5 million.
--Diana Ross is planning to renovate her Sherry-Netherland hotel apartment and raise its price from $9 million to $11 million sometime after Labor Day.

From the NY Observer:
----Another huge listing in New York City. This time a Fifth Avenue duplex, shown above, belonging to Karen Fleiss, who founded the hedge fund KMF Partners, and her husband, David, a Fifth Avenue orthopedic surgeon has been put on the market for $47.5 million. The listing is here.
--Exiting Metropolitan Museum of Art director Philippe de Montebello and his wife, Edith, director of financial aid at the Trinity School, sold their two-bedroom co-op at 25 East 86th Street this month for $2.195 million. The buyer is graphic designer Holly Okner, whose father is the investor Peter A. Aron, the chairman of the South Street Seaport Museum from 1987 to 2000. De Montebello has moved to another apartment nearby.
--The founder of Rag & Bone David Neville and his wife, celebrity makeup artist Gucci Westman just bought a duplex penthouse loft at the Spears Building, a former warehouse on West 22nd Street for $4.426 million.
----Charmaine Ho, a 22-year-old handbag designer and freelance fashion write bought a 25-foot-wide Greek Revival townhouse on West Ninth Street earlier this year for $8.1 million. Her parents, who live in Hong Kong, are paying for the bulk of the mortgage and will pay around $200,000 to renovate the floor-through apartment that she will live in. A three-bedroom apartment downstairs and the one-bedroom place upstairs are being rented out.

Hot real estate news, TMZ is reporting that Candy Spelling, the widow of Aaron Spelling, is already shopping around the family manse. The ultra-posh Holmby Hills home is rumored to be listed at $150 million. TMZ says that the Westside Estate Agency has the listing, although they are quietly selling it so it's not on the website yet. The price would be a record-breaker but the home did cost $47 million to build in 1991. Is it fancier than Trump's $125 million mansion or Updown Court?  I can't wait to see the listing on this one.