greenwich

Selling Real Estate to Leibovitz "Big Mistake"

Filed under: Art, Real Estate Developments

Celebrity photographer Annie Leibovitz may lose her two high profile properties if Art Capital Group wins its $24 million lawsuit. They are side-by-side in Greenwich Village and date back to the 1830s. Leibovitz's plan was to combine 755 Greenwich Street and 757 Greenwich Street into a single 9,000 sqft life/work space. These plans, of course, are in jeopardy, and the former owner of the Greenwich Street homes, Jay Furman, partner in FYH Village LLC, is calling the sale a "big mistake."

The renovations have taken years, resulting in legal action from the Greenwich Village Society for Historic Preservation and a $15 million lawsuit against Leibovitz by her next-door neighbor. The suit was settled in 2003, when the photographer bought the litigant's building for $1.87 million. So, she wound up paying for three properties (12,000 sq. ft. in all), which contributed to a tenuous financial situation and the loan from Art Capital Group, according to Bloomberg News.

These transactions were only part of a mountain of debt amassed by the photographer. From 1999 to 2008, Leibovitz borrowed extensively to purchase property and refinance the debt she was carrying. In total, her activity stretched to more than a dozen loans, Bloomberg News reports, all on the back of her real estate holdings. Two 2006 loans – for $4.7 million in November and $2.5 million in December – were extended by Rhinebeck Properties LLC, which happens to have the same address as Conde Nast Publications Inc.

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Tags: annie leibovitz, AnnieLeibovitz, art, artist, artwork, breaking, breaking news, BreakingNews, greenwich, greenwich village, GreenwichVillage, new york, new york city, new york new york, NewYork, NewYorkCity, NewYorkNewYork, photographer, photographs, photography, real estate, RealEstate

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Mel Gibson Chops The Price On His Greenwich Home Again

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

Mel can't sell. The soon-to-be-divorced star can't seem to shake Old Mill Farm, his Greenwich, Connecticut home. Gibson first put the home on the market in the summer of 2007 for $39.5 million. He dropped the price to $35 million last September. But with a divorce in the works and an eighth child on the way with his new girlfriend, he's got bills to pay and a home to get rid of and so now he's pared the price down to under $30 million. Old Mill Farm can be yours for $29.75 million.

Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 for his horse lover client, G.L. Ohrstrom. The home is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land. The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The jaw-dropping room of the place is the great hall which has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. The grounds, which were done by landscape designer James Doyle, include formal gardens and a maze. There is also a terrace pool, tennis court, greenhouse, stable, staff houses, log cabin and a pond on the property.

You'd think that this new low price might lead to a sale but in Greenwich, as the NY Times reports, nothing is certain anymore. Greenwich has been home to some of the biggest price drops in the history of residential real estate including the top spot in our recent list of big price cuts, Leona Helmsley's Dunnellen Hall which has dropped in price by $50 million since it first hit the market. One person who seems to have sold in the area is Regis Philbin. His Greenwich home listing has disappeared.

Gallery: Mel Gibson's Old Mill Farm

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Tags: connecticut, dunnellen hall, DunnellenHall, greenwich, mel gibson, MelGibson, regis philbin, RegisPhilbin

Great Gastby Rolls-Royce up for Auction

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions

The 1928 Rolls-Royce (above) driven by Robert Redford in the big screen version of The Great Gatsby is being auctioned off by Bonhams during the Greenwich Concours d'Elegance in Connecticut on June 7. The 40/50hp Phantom I Ascot Dual Cowl Sport Phaeton with coachwork by Brewster is estimated at $150,000 - $200,000. Owned by Massachusetts collector Ted Leonard, who lent it for the 1974 film, the car is largely original with minimal restoration. It was however painted a buttery yellow and its leather upholstery died green to match the description in F. Scott Fitzgerald's original text: "It was a rich cream color, bright with nickel, swollen here and there in its monstrous length with triumphant hat-boxes and supper-boxes and tool-boxes, and terraced with a labyrinth of wind-shields that mirrored a dozen suns."

Tags: Bonhams, Connecticut, F. Scott Fitzgerald, F.ScottFitzgerald, Greenwich, Robert Redford, RobertRedford, Rolls-Royce, The Great Gatsby, TheGreatGatsby

The Classicist: The New World's Most Expensive Estates

by Jared Paul Stern (RSS feed) —

Filed under: Estates, The Classicist, Wealth

Five months ago when Forbes ranked the world's most expensive houses (in terms of current listings) only three of them clocked in at over $100 million. And in fact, one of those, Leona Helmsley's Dunnellen Hall in Greenwich, CT which started out at $125 million had already been reduced to $95 million by the time the list was published (it's currently being offered at $75 million). The other, Fleur de Lys in Beverly Hills listed at $125 million, was therefore the world's most expensive and one of only two $100 million-plus properties officially on the market.

Re-surveying the field now we've decided it's time for a new World's Most Expensive list, mainly because despite the recession - or, perhaps, because of it - there are now seven properties in what we've dubbed the Hundred Million Club (N.B. - those listed at only $100 million don't make the cut), three of which are in the U.S. These are the modern-day equivalents of the magnates' great estates we wrote about back in February.

Some recent market activity which regular Luxist readers will be aware of makes a new ranking imperative. For starters, last month Candy Spelling listed her Holmby Hills mega-mansion at $150 million, making it the world's most expensive estate. Then just last week a mansion at No. 10 Belgrave Square in London hit the market for around the same price - £100 million, or about $149 million (depending on exchange rates), while a second Belgrave Square property finally completed renovations and has been listed at £80 million, or about $120 million.

We also received confirmation this week that an incredible 40-room private mansion in Paris' Place des États Unis (above), built in 1890, has been listed at €105 million, or about $138 million. Fleur de Lys, whose "world's most expensive" status (though not its "legendary estate" status) was also usurped by the $135 million Manaplan Residence in Palm Beach now languishes in 5th place (sorry, Mariah).

Here is our new ranking of the world's most expensive estates (in terms of current verifiable listings), all members of the Hundred Million Club:

1. The Manor - Holmby Hills, CA: $150 million
2. No. 10 Belgrave Square, London, UK: $149 million
3. Place des États Unis, Paris, France: $138 million
4. The Manalapan Residence, Palm Beach, FL: $135 million
5. Fleur de Lys, Beverly Hills, CA: $125 million
6. No. 31 Belgrave Square, London, UK: $120 million
7. Updown Court, Surrey, UK: $110 million

Gallery: $100 Million is Not Enough

1. The Manor - Holmby Hills, CA: $150 million

2. No. 10 Belgrave Square, London, UK: $149 million

3. Place des États Unis, Paris, France: $138 million

4. The Manaplan Residence, Palm Beach, FL: $135 million

5. Fleur de Lys, Beverly Hills, CA: $125 million

Tags: Beverly Hills, BeverlyHills, Candy Spelling, CandySpelling, Connecticut, Dunnellen Hall, DunnellenHall, Fleur de Lys, FleurDeLys, Florida, Forbes, Greenwich, Leona Helmsley, LeonaHelmsley, London, Manaplan Residence, ManaplanResidence, mansion, Palm Beach, PalmBeach, Paris, The Manor, TheManor, Updown Court, UpdownCourt, Villa Leopolda, VillaLeopolda, worlds most expensive, WorldsMostExpensive

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Regis Philbin in Greenwich, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

I've been missing the real estate intelligence of Bob Goldsborough over at Big Time Listings after the site was unfortunately hacked. But now he's back with a vengeance, dishing out an impressive amount of celebrity scoop. One of the biggest is the listing for Regis Philbin's Greenwich, Connecticut home. Regis has been saying for a while on his show that he was selling his home but no one had dug up the listing until now. The home was built in 1980 and is on 5.68 acres that include a tennis court, pool, gazebo and gardens. The house itself was featured in 2002 in Architectural Digest, and includes a formal dining room, paneled living and media rooms, a library with a wet bar, a family room, a gourmet kitchen and a breakfast area that opens to a covered terrace. There are four bedrooms including a master suite with a sitting area, fireplace and his and hers baths. The lower level of the home includes exercise and recreation areas. Regis bought in 1992 for $2.5 million and is now asking $5.4 million for the home.

Update: This home is now listed at $4.9 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: Regis Philbin in Greenwich

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Tags: celebrity real estate, CelebrityRealEstate, connecticut, connecticut real estate, ConnecticutRealEstate, estate of the day, EstateOfTheDay, greenwich, regis philbin, RegisPhilbin

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The New Most Expensive Zip Codes in America

by Jared Paul Stern (RSS feed) —

Filed under: Events, Wealth

Forbes has just released its annual ranking of the 100 most expensive zip codes in America, and what with fluctuating real estate markets some of the results may surprise you. Beverly Hills for example, the famous 90210, barely makes it into the top 10 nowadays with a median home price of $2.41 million, while Bel Air (90077) lags way back at No. 29 with a median price of $1.72 million. New York City doesn't rate an appearance at all until Tribeca zip 10013 clocks in at No. 14 with a median price of $2.2 million.

That famous province of the rich, Greenwich, Conn. (zip 06870 in Old Greenwich) is way down at No. 26 with a median price of $1.75 million. The most expensive zip code in the country? 33109, the tiny private enclave of Miami Beach known as Fisher Island (above), where sales prices rose by $525,000 over the last year and which has an unbeatable median price of $3.85 million. Listed below are the Top 10 zips. You can see a slideshow of the full list here.

1. Fisher Island, Fla., 33109, Miami-Dade County
Median sales price: $3.85 million

2. Alpine, N.J., 07620, Bergen County
Median sales price: $3.59 million

3. Mill Neck, N.Y., 11765, Nassau County
Median sales price: $3 million

4. Newport Coast, Calif., 92657, Orange County
Median sales price: $2.8 million

5. Water Mill, N.Y. 11976, Suffolk County
Median sales price: $2.72 million

6. Atherton, Calif., 94027, San Mateo County
Median home price: $2.7 million

7. Santa Barbara, Calif., 93108, Santa Barbara County
Median home price: $2.7 million

8. Wainscott, N.Y., 11975, Suffolk County
Median home price: $2.56 million

9. Rancho Santa Fe, Calif., 92067, San Diego County
Median home price: $2.47 million

10. Beverly Hills, Calif., 90210, Los Angeles County
Median home price: $2.41 million

Tags: Beverly Hills, BeverlyHills, California, Fisher Island, FisherIsland, Florida, Forbes, Greenwich, Most expensive zip codes, MostExpensiveZipCodes, New York, NewYork

Riverside, Conn., with Water Views, Estate of the Day

by Lisa Palladino (RSS feed) —

Filed under: Estates, Yachts & Sailing

This home on 1.94 acres right on Long Island Sound offers more than a room with a view -- how about a whole house with a view? Located in Riverside, Conn. (part of tony Greenwich, where Kathie Lee Gifford and hubby Frank live) and built in 1956, this estate is offered for $12,900,000.

Sited in the gated Harbor Point Association, a peninsula of more than 500 feet of shoreline, this Contemporary Colonial offers the next owner the chance to build under current zoning for a new 11,000-plus square foot custom waterfront estate or live in the existing home, which is light-filled and recently updated with a cook's kitchen, built-in bookshelves, five tiled baths, new systems and new landscaping by a professional designer. There are two family rooms and two master suites among six bedrooms on both first and second floors. Three fireplaces and an artist's studio complete the picture.

Walk or jog to Elias Point, a sandy beach. A spectacularly landscaped enclave, historic Harbor Point is situated on the sweeping grounds of the former 49-acre Frederick T. Bonham estate, "Walhall," a legendary LI Sound private property with some of Southern Connecticut's best water views. The association's other amenities include a boat dock, boat mooring, picnicking and fishing privileges.

Gallery: Riverside, Conn., with Water Views, Estate of the Day

Tags: Conn, Connecticut, CT, Estate, Estate of the Day, EstateOfTheDay, Greenwich, water, water view, WaterView

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Mel Gibson Drops The Price On Old Mill Farm

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

After reading about the real estate downturn in Greenwich, Connecticut in a recent issue of The New Yorker, I wondered what effect this will have on homes still on the market, in particular, Mel Gibson's Old Mill Farm. A quick look at the listing reveals that Gibson, who has had the property on the market for $39.5 million for over a year now, recently dropped the price to $35 million.

The home is one of Greenwich's treasures. No McMansion, Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 and is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land which includes formal gardens, a maze, pool tennis court, greenhouse, stable staff houses, log cabin and a pond. The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The great hall has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. In this real estate climate, will a $4.5 million price cut be enough or does Mel need to lower the price a bit more?

Gallery: Mel Gibson's Old Mill Farm

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Tags: celebrity real estate, CelebrityRealEstate, greenwich, mel gibson, MelGibson, old mill farm

Hillcrest Estate, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

Another sign of real estate drama, a house up for sealed bid auction in posh Greenwich, Connecticut of all places. The owner, Stanley Cheslock, originally put the market on the home for $31 million in the usual manner but found that the current market was a bit stagnant.

The HIllcrest Estate features 26,000-square-foot mansion designed by Gilles Le Gorrec and built in 2003 as well as two carriage houses and 12-car capacity garage on 30 acres. The home has four master suites, guest suite and a service suite. There is a large kitchen that includes a wood-burning pizza oven, top-of-the-line appliances, separate accessories kitchen and a butler's pantry with walk-in refrigeration. The massive home has not one but two cathedral-ceiling living rooms that both open onto a 2,500-sq. ft. terrace. Other details include a 100-ft. central atrium, rooftop cupola with stunning Long Island Sound views, hand-crafted stained glass windows, iron-clad elevator, seven Rumsford fireplaces, multiple laundries, handmade plaster moldings, chestnut flooring and geo-thermal heating and cooling. There is also a theatre-quality home cinema, 3,700 bottle-capacity wine room, cherry wood office/library, 50-ft. indoor lap pool with Siberian spruce sauna and granite steam room, and a fully equipped private gym. The expansive grounds adjoin The Stanwich Club, one of United States' premier golf courses, and include a large mouth bass pond, waterfalls, English gardens, and statuary by sculptor Arturo Di Modica.

The estate may be purchased in whole or in part, with the mansion and 22 acres available for a minimum reserve price beginning at $15 million. The two carriage houses and more than seven acres are available for a minimum reserve price beginning at $4 million. And of course the whole package starts at $19 million. Sealed bids must be submitted by 5 p.m. Aug. 15, along with a check for $750,000 and bank documents proving the potential buyer's ability to pay.

For more prime properties and lush locations, see Luxury Homes and Mansions.

Gallery: Hillcrest Estate

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Tags: connecticut, estate of the day, EstateOfTheDay, greenwich, hillcrest, real estate, RealEstate

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Dunnellen Hall, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I first mentioned back in February that Leona Helmsley's Greenwich estate, Dunnellen Hall had hit the market for $125 million but at that time I hadn't found the listing. But it turns out that David Oglivy has the listing and some pictures giving a good look at this huge mansion. Like many other homes in Greenwich, it's a traditional brick mansion, it's just incredibly large and lavish. The entrance features iron gates and a long driveway culminating in a courtyard with a 70-foot marble reflecting pool with a three-tier fountain. Once inside there is a huge entrance hall with a cove ceiling and a cross arched center hall with a travertine marble floor, and limestone walls running the 86 foot length and a double-height plaster tracery ceiling. And then there's that stairway, a decadent marble, red-carpeted expanse crowned by a crystal chandelier. At 1,125 square feet the living room is larger than some homes.

The home is approximately 23,0000 square feet with seven upstairs bedroom suites, a glass-walled music room, a wood- paneled library with a 15th century fireplace mantel, formal dining room, family room with a bar and much more. The kitchen and pantry include plenty of storage, serving and cooking areas and there is a separate staff dining and sitting area. The back wing is home to the staff area which has six bedrooms. The indoor pool has four exposures and includes areas for sitting and changing. There is also a 75-foot outdoor pool with a terrace and a cabana with a kitchen. There are also brick cottages with an additional six bedrooms total.

The Helmsleys bought Dunnellen Hall in 1983 for $9 million (paying an extra $2 million for the furniture) and later picked up another 14 acres bringing the total to 40 acres. It's one of the grandest homes in the area but $125 million would stretch the budget even in a town famous for its lavish homes. After all, Mel Gibson's Old Mill Farm is only $39.5 million and that's been sitting on the market for nearly a year.

UPDATE: This home has now been reduced to $75 60 million.

Gallery: Dunnellen Hall

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Tags: dunnellen hall, DunnellenHall, estate of the day, EstateOfTheDay, greenwich, leona helmsley, LeonaHelmsley

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Veuve Clicquot Stages First NYC Polo Match in 70 Years

by Jared Paul Stern (RSS feed) —

Filed under: Spirits, Events, Sports

On Saturday, renowned French champagne house Veuve Clicquot staged the first polo match in Manhattan in 70 years. The match, between two North American Polo League (NAPL) teams - Ralph Lauren's Black Watch, captained by Polo model Nacho Figueras, and Asprey's Skeeterville, captained by Will Johnston - was played on Governor's Island, the 172-acre former Army base on Manhattan's southern tip. New York is often cited as the birthplace of American polo c.1876, and Army officers played the sport on Governor's Island until just before the onset of World War II in 1941. Black Watch bested Asprey 10 - 6 in the inaugural match of the Veuve Cliquot Manhattan Polo Classic. Veuve Clicquot has long supported polo in Europe, and since last year other parts of the U.S. as well, such as the Greenwich Polo Club in Connecticut.

Gallery: Veuve Cliquot & Polo

Tags: Asprey, Champagne, Connecticut, Greenwich, Greenwich Polo Club, GreenwichPoloClub, Manhattan, North American Polo League, NorthAmericanPoloLeague, Polo, Ralph Lauren, RalphLauren, veuve clicquot, VeuveClicquot

Classic Cars on Offer at First Greenwich Concours Sale

by Jared Paul Stern (RSS feed) —

Filed under: Luxury Cars & Autos, Auctions

On Sunday June 8 London auction house Bonhams will stage its first ever auction in conjunction with the annual Greenwich Concours d'Elegance in Connecticut. The top-priced lots are rare racing cars prized by automotive historians, such as a 1931 Maserati Tipo 8C-2800 competition two-seater, est. $600,000 - $850,000, and a 1965 McLaren-Elva M1A Sports Racer, est. $250,000- $300,000. However, there are plenty of beautiful and highly collectible cars that one can actually drive on offer as well.

Among our favorites is this perfectly-restored British made 1956 AC Ace, est. $140,000 - 180,000, in British racing green, natch. Other highlights include: a 1963 Porsche 356B 1600 Super 90 Cabriolet, est. $110,000 - 130,000; a 1972 Ferrari 365 GTC/4 Coupe, est. $110,000 - $135,000; a 1974 Jaguar Series III V-12 XK-E Roadster, est. $50,000 - $70,000; a 1971 Mercedes-Benz 280 SE 3.5 Cabriolet, est. $100,000 - $150,000; and the steal of the sale, a 1979 Rolls-Royce Silver Wraith II Saloon, est. only $25,000 - $35,000.

Gallery: Greenwich Auto Auction

1963 Porsche 356B 1600 Super 90 Cabriolet

1974 Jaguar Series III V-12 XK-E Roadster

1979 Rolls-Royce Silver Wraith II Saloon

Tags: AC Ace, AcAce, Bonhams, Classic cars, ClassicCars, Concours delegance, ConcoursDelegance, Connecticut, Ferrari, Greenwich, Jaguar, Maserati, Mercedes, Porsche, Rolls-Royce

Tommy Hilfiger's Stone Hill, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates

I was going to leave this one for the Sunday Real Estate Round-Up but I couldn't wait. Stone Hill in Greenwich, Connecticut is one of the homes belonging to Tommy Hilfiger. According to information from the NY Post the designer will be moving into the Plaza in Manhattan when his duplex is completed. Hilfiger bought this new home in 2005 for $18 million and worked his decorator magic. The 20,000-square-foot home has seven bedrooms, 13 bathrooms, a massive great room, basketball court, spa with a waterfall, theater, gym and a huge 2,000-bottle wine cellar.

I'm a little embarrassed by just how much I love the decor on this one. In general I'm not a fan of a home decorated to within an inch of its life but this one is an excellent product of the Ralph Lauren/Tommy Hilfiger luxe American style.The decorator did a great job incorporating the art and the home is luxurious without being overly formal. It's similar in style to his Further Lane property (which he recently sold for $26.5 million) right down to the use of orange accents. This one is listed at $27.9 million.

UPDATE: As of January 2009, Hilfiger has reduced the price to $21.995 million. Cindy Rinfret of Rinfret, Ltd. was the decorator for Stone Hill. Rinfret has designed eleven of Tommy's homes, and is currently working on his duplex Plaza apartment.

[Thanks, Lana]

Gallery: Stone Hill

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Tags: connecticut, estate of the day, greenwich, stone hill, tommy hilfiger, TommyHilfiger

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Greystone, Estate of the Day

by Deidre Woollard (RSS feed) —

Checking out the homes in Greenwich, Connecticut is almost like visiting a foreign land. It's hard to find another town as devoted to the idea of creating modern day castles. Today's selection is a compound in Conyers Farm. The fieldstone home was designed by New York architect Boris Baranovich and spans over 10,000 square feet. The six-bedroom home has a paneled library, formal dining room with an elaborate French mural and a family room next to the gourmet kitchen. The master suite has a fireplace, two dressing rooms and two baths. A must see is the giant television and media system neatly surrounded by flowered wallpaper and oil paintings in gilt frames. The grounds feature all the natural appurtenances on 14 acres. Rolling lawns, trees, orchards, tennis courts with a pavilion, a barn with a workshop, a staff cottage and a three-bedroom guest cottage. This home is listed at $17.9 million.

Gallery: Greystone

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Tags: connecticut, estate of the day, greenwich, luxury real estate

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Mel Gibson's Old Mill Farm, Estate of the Day

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping

I first mentioned this listing on Sunday. The esteemed Braden Keil of the NY Post broke the story that Mel Gibson has put his Greenwich, Conn. home on the market. The listing with photos just went live today so I wanted to bring you the pictures of why this home just might be worth the $39.5 million asking price. As commenter Spectacular Bid noted on my last post about this house, Old Mill Farm is a design by architect Charles Lewis Bowman built in 1926 for his horse lover client, G.L. Ohrstrom. The home is one of the last great manor homes in Greenwich and is significant not just for the architecture but for the fact that it has 77 acres of land.

The home itself is an Elizabethan-inspired Tudor mansion of 15,800 square feet and the property has 15 bedrooms and 18 bathrooms total. The jaw-dropping room of the place is the great hall which has a 40-foot cathedral ceiling with a stone minstrel's gallery, walk-in fireplace and leaded glass ceilings. The grounds, which were done by landscape designer James Doyle, include formal gardens and a maze. There is also a terrace pool, tennis court, greenhouse, stable, staff houses, log cabin and a pond on the property. For your $39.5 million you really do get a chance to slip into a whole other world. After the jump, imagine the movie Mel could have made here.

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Tags: connecticut, estate of the day, greenwich, luxury real estate, mel gibson, MelGibson, old mill farm

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