Listed for $1 billion, The Mountain of Beverly Hills is officially the most expensive property in the history of Los Angeles (if not the world). Let that soak in. Yes, billion with a “b”—as in Bezos, Buffett and Bloomberg.
If you’re super rich, audacious and aroused enough to place the winning bid, bring your glamping gear. That jaw-dropping price tag is just for the panoramic tract of semi-developed land overlooking Los Angeles.
But what a small inconvenience compared to what you are getting—the most exclusive promontory real estate in the USA. One-of-a-kind, The Mountain spans a stupefying 157 acres (nearly twice the size of Disneyland), with an über private road that serpentines skyward toward 90210’s largest and loftiest peak, a summit best admired by helicopter.
That view is like virtually dropping Disneyland onto Mount Baldy (L.A.’s highest peak), where you’re the only guest at the park (no cars, tourists, hikers or Mickey Mouse).
Facebook founder Mark Zuckerberg paid top dollar — more than $30 million in total — for the four residential properties located next door and behind his Palo Alto home.
Zuckerberg is one of several prominent tech CEOs who own homes on Palo Alto’s tree-lined streets. Yahoo’s (YHOO) Marissa Mayer and Google’s (GOOG) Larry Page live there, as did the late Apple (AAPL) chief Steve Jobs.
Fannie Mae, the nation’s largest mortgage finance company, saw its second-quarter profit nearly doubled to $10.1 billion. The company said it has now repaid about $95 billion of the federal bailout money it has received. Source: USA TODAY
Rents in Brooklyn have skyrocketed to an average of $3,035 in July, up 8.2% from July of last year.
The average rent in Manhattan was $3,822 in July, up 1.7%.
Brooklyn luxury units — those priced in the top 10% of the market — led the surge, with the average rent in this segment hitting $6,007, up 8.8%.
The average rent for an apartment in New York City (excluding Staten Island) is $3,017 a month. This is the first time the average rent has exceeded $3,000.
“The average New York rent was more than 50 percent higher than second-place San Francisco, where rent grew 1.1 percent from the first quarter to $1,998.82,” reports Reuters. “Oklahoma City was the cheapest market, at an average of $571.03 a month, up 0.6 percent
This futuristic hotel has 22 underwater rooms. A Polish company has agreed to build it near the island of Kuredhivaru, located in the Maldives–a group of islands in the Indian Ocean that is threatened by impending sea level rise. It could be ready for its first visitors within a couple of years.
Billionaire Dan Gilbert continues to grab up property in the Motor City. On Tuesday, Gilbert’s Rock Ventures confirmed that Gilbert has purchased two more buildings on Woodward Avenue.
Gilbert, who ranks as the richest Detroiter on Forbes’ billionaires list, now owns or runs 30 buildings with 7.6 million square feet of property in the city, according to Mlive. That includes four million square feet of commercial space and 3.6 million square feet of parking.
Gilbert, who repeatedly has expressed his belief in Detroit’s potential, has snapped up some of that space for as little as $5 a square foot, rehabilitating a number of properties in the once-empty downtown corridor.
The newest Gilbert acquisitions are at 620 and 630 Woodward Avenue, which are two of the oldest buildings downtown. Each is four stories tall, and the pair were built in 1880. Together, they have 40,000 square feet of office and retail space. Good Luck rebuilding Detroit Dan! Source