Tuesday, August 21, 2007

UPDATE: Hulk Hogan

Who says the South Florida real estate market is in the terlit? Your Mama certainly thought it was. And maybe it is for everyone except Terry Bollea, aka Hulk Hogan. According to the Miami Herald, the professional wrestler with the freaky bleached porn mustache has sold his Miami Beach house at an unbelievably monstrous profit in just over one year of owning the North Bay Road property.

Your Mama discussed the property back in July not long after it had hit the market with an ear piercing asking price of $18,9000,000, which was a whopping $6,900,000 MORE than Mister Bollea and his wifey paid for the property in April of 2006.

According to the Miami Herald report, the gargantuan house was purchased for just under the asking price by action film director/producer Michael Bay, who is flush with vast sums of cash from his enormous successes on Transformers, Pearl Harbor, Armageddon, The Rock and Bad Boys.

Just under the asking price?! WHAT?!

If the report is accurate, and we're sure it is, this means that the Hulkster made five or six million clams in a floundering Miami Beach market by flipping his humongous mansion. Your Mama is not sure whether to be impressed or aghast. Of course, a house is only worth what someone will pay for it, so apparently this house is worth somewhere in the neighborhood of $18,000,000 even though just one year ago it was only worth $12,000,000. Well, you could pick us up off the floor now, because Your Mama done passed out trying to get our mind around that sort of exuberant increase in value in just one year.

Mister Bay's new house, a slick 17,339 square foot pair of big white boxes separated by a large courtyard with a huge water feature, is the perfect home for his next live action hero to call home.

On a side note, according to the Miami Herald article, as the Bollea's were moving out of the property last week they realized they had been robbed of $1000,000 worth of jewelry, including several necklaces and a diamond watch. Although stealing is wrong (wrong, wrong, WRONG!), Your Mama is having a tough time feeling bad for the couple who are sitting on a jaw dropping, unbeievable and mammoth profit from the sale of their house, which means they can well afford to buy replacement diamond watches for the entire family. And Your Mama too.

If we've said it once, we've said it a thousand and one times, one of the ways the rich and famous get richer is by flipping high end properties.

Sources Miami Herald

27 comments:

Anonymous said...

Aren't they heading for california? The last thing L.A needs is them - they make Britney look classy!

Anonymous said...

That house is beyond hideous. I'd rather live in a trailer.

Anonymous said...

Dang, Mama! That house was FUG! Almost as fug as Brooke's homemade denim ass-less chaps she keeps wearing at the mall!

Anonymous said...

that house baffles me, i just don't get the appeal.

Phoenix said...

I agree with your flipping high end properties comment Mama, but would have to limit it to only 3 areas in the U.S. 1)N.Y.C/Hamptons, 2) L.A./Malibu, and 3) Miami Beach. The rest of the housing market is in serious trouble, and it's getting worse. There are even signs it may be starting to encroach upon the few formerly sacrosanct areas listed above. For example, a quick perusing of Bev Hills real estate properties for sale turns up an ever growing number of previously unheard of 'Price Reduction' sales banners.

Here's a funny I discovered yesterday for anyone in the mood for a good laugh. One of the top YouTube videos in recent weeks is from the Cher Show circa 1975 believe it or not. In it, Lily Tomlin plays an telephone operator who phones Cher and they gossip. If you haven't seen it already, treat yourself to some hilarity and check it out.

Anonymous said...

After repeatedly ripping off theatergoers with his crappy movies, it's great to see Bay get ripped off with this hideous house. I hope he likes it so much that he never comes back to California. I hope it (and he) disappears into one of those hilarious Florida sinkholes.

Anonymous said...

Yo momma, did they ever sell their previous Florida home? Are they going back there or to Cali?

Phoenix said...

Anon @ 7:30 AM, I never understood the appeal of this house either, although I know several bloggers here do like it. I have a feeling the celebrity factor al la Paris Hilton's former house played a substantial role here in netting Hulk such a ridiculas profit.

Anonymous said...

Someone has too much money to waste! I Guess that's why I have to pay $12 to see a horrible movie.

e.k. said...

Wow, I actually like this house a lot,I'm surprised so many of you don't. Like the house or not that's a monster profit.

Anonymous said...

They should have bought the Osbournes house on Doheny Rd......

Anonymous said...

I think the house is ok but grossly overpriced. Great clip phoenix - those were the days - when young women in entertainment were class acts and not the booze and drug impaired law breaking lip synching losers they are today.

Anonymous said...

" I have a feeling the celebrity factor al la Paris Hilton's former house played a substantial role here in netting Hulk such a ridiculas profit"

I don't think so. Paris Hilton like it or not is 'A list' ... The Hulk & his family are 'Z List'. I just don't see someone paying extra b/c Hulk Hogan owned it - thats ridiculous.

Phoenix said...

Anon @ 2:30 PM, I'm actually very inclined to agree with you. The reason I said that is because I can't think of another logical reason to explain why this house sold for $7 million more than Hulk bought it for a year ago. Do you have any ideas?

smiley said...

hm.. no mention of any tipsters...

:)

Kevin Tomlinson said...

Hey Mama!

Listen--I feel the need to "enlighten" the comment stream here.

Comparing Miami and Miami Beach is like comparing UES to the Bronx--can't do it.

The house DID close for right around 17M.

I've been in the house it is very modern and simple.

Hulk and his wife are VERY nice down to earth people---I would NEVER compare him/them to Britney.

Kevin Tomlinson said...

p.s the high-end estate market in Miami Beach is ANYTHING but soft.

Kevin Tomlinson said...

---A or Z list---he bought a good piece of property on the most exclusive neighborhood in Miami Beach.

Hulk---is no way near the most famous or wealthiest person in the neighborhood.

Calvin Klein, JLO, Ricky Martin are/were some of the residents.

It had nothing to do with who owned it. Hulk bought well and sold well--period.

Kevin Tomlinson said...

Can someone get jeff lewis my number!

Anonymous said...

'It had nothing to do with who owned it. Hulk bought well and sold well--period'

'p.s the high-end estate market in Miami Beach is ANYTHING but soft.'

Thats not entirely true. If you look at some of the high end miami beach properties that are on the market ... they've been on the market for ages & also, the developer who built the hulk house also built a home very similar on la gorce that has been on the market for ages & ages even though it's nicer than the hulk home & cheaper ... the market in miami beach is slow as hell compared to similar areas in the country. mama is right.

Kevin Tomlinson said...

Dear anonymous--

You should know that North Bay Road has ALWAYS out sold every other neighborhood including gated islands. The time on market for a home on La Gorce Island is much longer because of it's distance to South Beach.

So it is completely true. The buyer for a "La Gorce Island" home is not a modern home buyer. They are older and look for more traditional estates.

Phoenix said...

Kevin, just curious why you'd want to get in contact with Jeff Lewis? If it's for business reasons, you'd be alot better off contacting his business partner Ryan. Generally speaking I try hard not to judge, but when it comes to unapologetic narcissists, I don't care because they don't. He strives to make it seem that those who work with and for him are the incompetents, but watch closely and you'll soon realize it's they who save him from one oversight or bad decision after another more often than not.

Anonymous said...

u have to be jokeing right there going through a hard time and all u people can do is knock them down even more. i mean if it was some oneelse that did the same thing than u won't be picking them apart.yes , it's wrong also to get stuff taking from them .we get made when they come out on top but, when they mess up we put them down and keep picking them apart .what about when we mess up and get stuff tookin from us we wont it back and the only reason some body would think that house is hideous is because they can't buy it.we needd to stop putting them down and pushing them down. we have no right to because the same thing can happen to us.

Anonymous said...

just think, the new owner will have to renovate so much, all the bathrooms, the hogans lived there, they are gross!

Anonymous said...

I am way late comming in with this comment but you are all talking about this house like you know first hand about it. Some of you are being cruel but none the less it is your opinion and you are intitled to it. Hogan's did ALOT of PRICIE renovations to this home WHEN they moved in and BEFORE they moved in. I am sure they did make a profit, but I do not think it is to the amount everyone thinks. And everyone is wondering how and why. If you could make a profit flipping a home like that you would do the same thing. And again, the market is way down right now in Miami however like one commenter pointed out, those areas of Miami and Biscayne Bay areas will never be on the SLOW side of selling. South Beach is a hop skip and jump if you take Collins Ave all the way down.So there is plenty of reason to buy that home and homes in that area. I praise the Hulkster for having such good business knowledge. And as for the dirty toilet rooms, they had a cleaning person's who were full time. So nothing gross in there.

Anonymous said...

I am way late comming in with this comment but you are all talking about this house like you know first hand about it. Some of you are being cruel but none the less it is your opinion and you are intitled to it. Hogan's did ALOT of PRICIE renovations to this home WHEN they moved in and BEFORE they moved in. I am sure they did make a profit, but I do not think it is to the amount everyone thinks. And everyone is wondering how and why. If you could make a profit flipping a home like that you would do the same thing. And again, the market is way down right now in Miami however like one commenter pointed out, those areas of Miami and Biscayne Bay areas will never be on the SLOW side of selling. South Beach is a hop skip and jump if you take Collins Ave all the way down.So there is plenty of reason to buy that home and homes in that area. I praise the Hulkster for having such good business knowledge. And as for the dirty toilet rooms, they had a cleaning person's who were full time. So nothing gross in there.

Anonymous said...

To the anonymous who said they would rather live in a trailer...What is wrong with living in a trailer??? Mobile Homes are made as good as homes now days and they are VERY expensive as well....So dont cut people who live in mobile homes...