Eddie Murphy’s NJ crib up for sale

May 24, 2010

According to NJ.com Eddie Murphy has dropped the price on his mansion in Jersey to $12.75M it was once listed for $30M. None of that matters caz Eddie’s been getting caked for several decades now a.k.a old money

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Tempe Condos up for auction at deep discounts

March 26, 2010

ABC 15 reports that the Northshore Condominiums is having a big close-out auction. The 22 units will be sold on April 10 at prices that are deeply discounted. Opening bids start at $85,000 and up to $205,000 for units that were once listed as high as $725,000.

The condos have a panoramic view of Tempe Town Lake and are located within walking distance to Arizona State University. According to the article many of the units have never been lived in. Owners share a large pool with a heated spa, fitness center and an outdoor entertainment/service bar area with barbecues. There are one, two, and three-bedroom units available that are up to 2,168 square feet. Bidders must be pre-registered and pre-approved.
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Rockstar CEO buys Scott Storch’s crib

February 16, 2010

Russ Weiner, the CEO of Rockstar Energy drink has announced that he is the new owner of Villa Ferrari, Storch’s former 20,000 square foot home on Palm Island. The mansion has a 100 foot boat dock, 11 bedrooms, 15 bathrooms, 3 guest houses and two pools.

SunTrust bank, which held two mortgages worth a combined $7.75 million against the property, bought the property back at auction on for $5.5 million. Storch had bought the home for $10.5 million but it had been listed for $13.9 million. Alex Shay found that SunTrust sold the property to Weiner Russell Trust for $6.75 million. According to Shay the house was, like many homes that have gone through a prolonged foreclosure, not in great shape and that renovation is needed. Still, the price is a steal for the size and location.

Billion dollar Cruise ship

December 14, 2009

It’s a risky move but a couple of investors are betting that the world is ready for a new level ocean liner luxury. Recently Samsung Heavy Industries announced a commission to build $1.1 billion super cruiser in Korea called The Utopia. This is the first huge luxury passenger ship being built in Asia. The 1,000-foot, 105,000-ton ship will be completed in 2013 and will offer the Utopia Residences, 200 floating apartments that will range from 1,400 to 6,600 square feet. Residences on the ship will have a starting price of $3.6 million. There will also be a 204-room hotel on board, a fact that makes it different from a similar concept, The World of Residensea ship which is all owned units. The ship plans to travel the world checking out events like the Cannes Film Festival, Rio’s Carnival, the Olympics and the Grand Prix auto race in Monaco.

Utopia Residences has opened a showroom on Rodeo Drive in Beverly Hills and is also selling through Douglas Elliman in New York City. The Utopia venture is being financed by a majority of New Mexico investors and the project’s lead investors are the Chant and Robb families. David Robb serves as Utopia’s chairman while Chris Chant is its president. Frank Carlucci, the former U.S. Secretary of Defense and co-founder of The Carlyle Group, is also involved and the project is backed by Frontier Group, a private equity firm founded by Carlucci. According to an article in New Mexico Business Weekly, David Robb said that he expects that 60 percent of the sales will come from outside the United States.