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Calabasas Estate Is Packed With Outdoor Amenities For $10M

by patch.com Leave a Comment

Real Estate

This home has everything from a 40-foot lap pool to an outdoor kitchen.

Chris Lindahl's profile picture

Chris Lindahl , Patch Staff Verified Patch Staff Badge

CALABASAS, CA — Boasting outdoor amenities like a 40-foot lap pool, outdoor kitchen and multiple outdoor fireplaces, this Calabasas home listed for $9.99 million is an entertainer’s dream.

Check out more information and plenty of photos below.

  • Address: 23401 Mulholland Hwy, Calabasas, CA
  • Price: $9999000
  • Square feet: 11342
  • Bedrooms: 8
  • Bathrooms: 11
  • Listing Description: True North – That’s life in perfect harmony. A Brand Newly built Modern Spanish home, perched high off Mulholland with glorious panoramic views. Incredibly private and secure behind two gates, the long Tree-lined double-wide driveway lifts you up to revel in those glorious views. Sunrise to sunset. Take in snow-capped mountains and nature, as you arrive home to your refuge, surrounded by serene bucolic scenery. An impressive 22-car motor court with 5 garages welcomes your family and guests. The stunning home built by master craftsman has superlative finishes, an intuitive floor plan, and every amenity desired and expected in a luxury estate, plus you get unparalleled Value. Grand sale architecture that exudes warmth and family. A brilliant floor plan perfectly suited to enhance today’s modern luxurious lifestyle. Mixture of old-world craftsmanship with dynamic on-trend design. The dramatic front entry highlighted by soaring high ceiling and a bespoke custom chandelier. The covered 750sf outdoor kitchen with a dining area and lounge that surrounds a warming fireplace, overlooking a 40 foot deep-water lap pool, soccer field, swing set with fort, and still plenty of flat grassy yard. A circular fire pit where everyone gathers for late night conversation or roasting s’mores. Ground level Movie Theater with its own guest powder bath. Dedicated office offering inspiring views and separate exterior access. A main level suite that can be the perfect gym. Upstairs has 4 en suite secondary bedrooms, an incredible Game room or bar that can host gaming tournaments, the entire class sleepover, or a professional poker tournament. Premiere suite has an enormous primary closet and an additional huge closet that can be a “glam room,” an upstairs office, or 585 bottle refrigerated Wine room enhances the sophisticated Formal Dining Room. Upstairs & downstairs Laundry for maximum convenience. Additional Maid’s bedroom. The detached Guest House is perfect for an artist haven, or long-term esteemed guests. Expansive flat yard, room for pickle ball or basketball court Ideally site close to the best of Calabasas and close to Malibu. True North – Paradise Found.

Listed by: Craig Knizek, The Agency

For more information click here . See more photos of the listing below, courtesy of The Agency:

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Idyllic Estate, Spectacular Gardens, On A Weston Cul-De-Sac

by patch.com Leave a Comment

Real Estate

With beautiful views from every window overlooking exquisite grounds, this home boasts hardwood floors throughout.

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Rich Kirby , Patch Staff Verified Patch Staff Badge

WESTON, CT — Idyllic estate with spectacular gardens, gunite pool and spa, charming party barn/pool house/garage, located on cul-de-sac close to schools, Town Center with easy access to highways and train.

Here’ the original listing as it appeared on Patch:

  • Address: 22 White Oak Lane, Weston, CT
  • Price: $1999000
  • Square feet: 5207
  • Bedrooms: 5
  • Bathrooms: 6
  • Listing Description: With beautiful views from every window overlooking exquisite grounds, this 5 bedroom 5 1/2 bath home boasts hardwood floors throughout, light filled gourmet kitchen, professional office room, lovely living room with fireplace and cozy dining room with built-in corner hutches and sliders to back terrace. Open Family room with stone fireplace and copper counter wet bar and sunken Sun Room with sliders to back terrace. Gorgeous primary bedroom and spa bath with 2 walk in closets, soaker tub, huge shower, double sinks and a walk out balcony overlooking the backyard. Beautiful en suite bathrooms with walk in showers were added in 2023 to two of the upstairs bedrooms. Side entrance into mudroom, laundry room and separate stairs to 5th bedroom en suite/au pair suite. Finished lower level with media and exercise rooms as well as cedar and wine closets and huge storage area. Full house and barn GENERATOR. Brand new furnace, pool heater and control panel, Well pump and AC over garage.

Listed by: Karen Magee, Brown Harris Stevens Connecticut, Llc

For more information click here . See more photos of the listing below, courtesy of Brown Harris Stevens Connecticut, Llc:

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Continuous demand for luxury real estate may not sustain: Prashant Thakur, Anarock Group

by economictimes.indiatimes.com Leave a Comment

Synopsis

While the rise in interest rate did not impact the upper and mid-upper segment too much, the affordable segment got impacted because of interest rate hike. The home loan eligibility of these borrowers came down because most of them work in either unorganised sector or they do not have a steady income source, according to Prashant Thakur of Anarock Group

If you want a sustainable, long-lasting growth for the real estate industry, it has to be an overall participation and that comes from the bottom of the pyramid, says Prashant Thakur , Regional Director & Head of Research, Anarock Group . Edited excerpts:

There is a big scheme in the offing from the government side. A $7.5 billion worth of scheme to give the further fillip to urban middle class. Will this really give a lot of push to the realty sector, which is already in massive momentum? How long and potential could this be?
There has been a good upsurge in the overall sales but what we have seen is that while the upper segment is doing quite well, the lower and affordable segment has been kind of lagging behind, and there are a couple of reasons behind it. While the rise in interest rate did not impact the upper and mid-upper too much, the affordable segment got impacted because of interest rate increase; the home loan eligibility of these borrowers came down because most of them work in either unorganised sector or they do not have a steady income source, I am talking about buyers of affordable housing .

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What also happened was that because of the increase in material cost, the cost of overall affordable housing went up. So in my opinion, any subsidy, or let us say bringing back the CLSS scheme which gives interest subvention to the buyers of affordable housing will give a push to this segment as well. When you combine the already well-doing upper segment, and when this lower segment also starts to pick up, I think the overall volume will pick up further.

So this move, if implemented, will definitely give a fillip to the numbers. The whole intention of this housing for all was to help the urban poor, the economically weaker section and the low income group. Somewhere in this rally of residential sales, we have seen this segment not participating while the other well-off segment is doing well. So in my opinion, this will be a great, great initiative if it is taken, and overall numbers will get a boost.

What one is witnessing is that the demand is actually scaling up only within the luxury as well as the high ticket size or housing segments. Is that really the case? Is that where all the demand and supply is happening as well?
You are right when you say that we are seeing a lot of action on the top segment. There are a couple of reasons, as I mentioned, that the interest rate, the increase in home loan rate has not impacted the upper segment much. It is the lower strata of the income group that has been impacted because the loan eligibility also comes down. The effect that we are seeing is in 2018, the share of affordable housing in the overall new launches was 48%. Today it stands at 18%. So, while the number has picked up, the overall sales volume and supply volume is getting concentrated towards the 85 lakhs and above segment. These are people who work in formal companies and have a regular stream of income. Even if the home loan goes up, they do not get impacted much. But the real worry is that India is still a housing deficit country and when you talk about economically weaker classes and low income groups, that is where the intention of affordable housing was, the scheme was launched to benefit them. So the talks that we are hearing is that these CLSA schemes would be re-launched and would help that.

Ideally, when the volume picks up in the affordable segment that is where we see the real number coming up. Because the continuous demand on the luxury side might not be sustainable. It might be either a result of pent-up demand or let us say a timeframe demand. But if you want a sustainable, long-lasting growth for this industry, it has to be an overall participation and that comes from the bottom of the pyramid.

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Real Estate Broker Gets House Arrest in Homeless-Shelter Bribery Scheme

by www.nytimes.com Leave a Comment

A New York real estate broker was sentenced to nine months of house arrest this week for paying a former shelter operator hundreds of thousands of dollars in a yearslong bribery scheme to profit from city funding meant for homeless people.

The broker, Sheina Levin, 61, owned a real estate company in Brooklyn. As the ranks of homeless people swelled in the city in recent years and the need for shelters grew more urgent, she paid a prominent shelter operator, Victor Rivera, more than $830,000 in kickbacks so his organization would lease property she controlled, federal prosecutors said.

Mr. Rivera, the former chief executive of the Bronx Parent Housing Network, pleaded guilty last year to federal crimes related to the bribery scheme and was sentenced to 27 months in federal prison . Mr. Rivera’s financial entanglements with Ms. Levin, as well as wide-ranging accusations of sexual assault and harassment against him, were first revealed in a New York Times investigation in 2021 .

Ms. Levin was sentenced on Wednesday after pleading guilty in March to one count of conspiracy to commit honest services wire fraud for her role in the pay-to-play scheme, which stretched from 2019 to 2021.

“Her felony conviction and the sentence imposed today show that those who put personal greed ahead of the needs of vulnerable city residents will face serious consequences,” said Jocelyn E. Strauber, commissioner of the New York City Department of Investigation, which investigated the case with agents from the U.S. attorney’s office in Manhattan.

In court filings, Ms. Levin described how Mr. Rivera first solicited bribes from her while they were working together to sublease several buildings she controlled in the Bronx as homeless shelters.

As the subleases were being arranged, Mr. Rivera demanded that he personally receive a cut of Ms. Levin’s rental profits, and she complied, she said.

“I knew that doing so would enable the subleases to go forward and that these payments were improper,” Ms. Levin said. “Mr. Rivera knew that I would make a profit on these arrangements due to my direct lease agreements with the owners of those properties.”

Prosecutors said Ms. Levin disguised the payments to Mr. Rivera as consulting fees to a bogus company run by his son, and that he used the kickbacks to make mortgage payments on his home.

After Mr. Rivera helped found the Bronx Parent Housing Network two decades ago, he built the organization into one of the largest shelter operators in New York, netting $274 million in city money from 2017 to 2021. But as the money flowed in, Mr. Rivera treated the nonprofit group as his personal domain, The Times found, collecting an annual salary of $453,000, driving a Mercedes-Benz leased by the organization and steering millions of dollars in contracts to friends and associates.

Mr. Rivera demanded kickbacks from some of those associates as well, including a construction company and a security guard firm, according to prosecutors. But the bribes he received from Ms. Levin, his one-time partner in a separate housing venture, were the most substantial.

The felony charge Ms. Levin pleaded guilty to carries a maximum penalty of 20 years in prison. But prosecutors recommended that she be sentenced to house arrest and two years of supervised release because they said she made “sincere efforts” to aid the investigation into Mr. Rivera.

She also agreed to forfeit more than $790,000 and pay more than $838,000 to the Bronx Parent Housing Network.

In a statement, Ms. Levin’s lawyer said Mr. Rivera “manipulated her dedication to servicing the homeless population into supporting his own personal corruption.”

“Ms. Levin acknowledges her terrible mistake in going along with Victor’s demand for kickbacks,” said the lawyer, Michael Farkas, “and she is committed to making full amends for her conduct.”

Billionaire And Celebrity Real Estate: Here’s Which Homes Hit The Market This Week

by www.forbes.com Leave a Comment

Topline

From Nashville to Hollywood, the celebrity real estate market is on a hot streak this week with the likes of Elton John, Cooper Kupp, and James Packer listing their multi-million-dollar mansions with amenities from wine cellars to saunas and theater rooms.

Key Facts

Australian billionaire James Packer listed a sprawling Beverly Hills estate —previously occupied at different times by Danny DeVito, Jennifer Lopez and Ben Affleck — for $85 million—complete with 1.2 acres, 12 bedrooms, 17 bathrooms, a wood-paneled wine cellar, theater, cigar room, gym and sauna.

If the Lake Tahoe estate formerly owned by casino mogul and hotelier Steve Wynn on “Billionaires’ Row” in Nevada sells for its $76 million asking price, it will be one of the most expensive real estate transactions ever in the area; the compound includes a 12,661-square-foot main residence, guest house, private peach and deep-water pier.

Radio host and former American Idol mentor Bobby Bones dropped the price on his Nashville mansion to $8.7 million—$5 million more than what he paid for it three years ago but $500,000 less than it first listed for in September per Realtor.com —the sprawling home is ultra-modern and includes a renovated barn, pool, guest house and basketball court.

The Atlanta condo Sir Elton John has owned since the early 1990s and used as a home base for his U.S. tours is listed for sale at $4.995 million; the 13,500-square-foot home on the 36th floor of a condominium complex combined six units into one to include a gym, gallery space and massage room.

Los Angeles Rams wide receiver Cooper Kupp is asking for $3.5 million for his family’s five-bedroom home, guest house, barn-turned-training-facility and the 4 acres it sits on in Oregon—a million-dollar mark-up from when he purchased it in 2020, per the Wall Street Journal .

Jen Landon, known for her role as Teeter on hit Paramount show Yellowstone , listed her Venice Beach townhouse for $1.8 million, a purchase that comes with a two-car garage, bamboo floors, double-height ceiling and a roof terrace with mountain views.

Key Background

L.A.’s real estate market has been in flux since a new millionaires tax on luxury homes saw celebrities like Brad Pitt and Mark Wahlberg sell off their expensive properties before the April 1 deadline. The market was booming before the law went into effect—the first quarter of the year saw sales of $5 million homes shoot up 35% above average, real estate agents told the Hollywood Reporter —but the market chilled almost immediately after. Called Measure ULA, the new law adds an additional 4% tax to sales above $5 million and 5.5% for sales above $10 million. Luxury sales, defined as homes in the top 5% of market value, have plummeted nationwide, the Wall Street Journal reported , down 24% in the three months that ended June 30. Would-be buyers are grappling with historically high interest rates and concerns of a potential recession, while sellers in some areas seem to have pulled back on putting their homes in the market because of market conditions— WSJ reports a 17% drop in year-over-year in luxury listings.

Crucial Quote

“The flurry of activity that happened up until April 1 was pretty phenomenal,” real estate attorney Loretta Thompson told the Hollywood Reporter of the Measure ULA tax. “And then, of course, after that, people started pulling their listings.”

Forbes Valuation

James Packer, the largest shareholder of Crown Resorts, is worth $2.5 billion and was the 1,199th richest person in the world as of Thursday. Steve Wynn, namesake of the Wynn hotel and casino chain, is worth $3.4 billion and landed at No. 855 on Forbes’ real-time billionaires list Thursday. He resigned as chair of his company after sexual misconduct allegations surfaced in 2018.

Tangent

George Clooney recently denied reports he was selling his luxurious Lake Como home, part of an impressive real estate portfolio that includes a Los Angeles villa, English island property and the Domaine du Canadel estate in France. The Lake Como house, which he bought from the billionaire Heinz family in 2002, is worth more than $100 and would have landed among the top of celebrity real estate deals. Other owners of $100 million homes include Snapchat CEO Evan Spiegel and model Miranda Kerr, tech billionaire Larry Ellison, Microsoft founder Bill Games, Amazon creator Jeff Bezos and Oprah Winfrey.

Further Reading

Casino Mogul Steve Wynn’s Former Estate On Lake Tahoe Lists For $76 Million ( Forbes )

Sir Elton John Lists Longtime Atlanta Home For Nearly $5 Million ( Forbes )

George Clooney Denies Reports That $107 Million Lake Como Villa Is For Sale — Here’s What We Know ( Forbes )