Wednesday, November 28, 2007

UPDATE: Olsen Twins

You Mama done got it wrong once again. It happens children.

This morning the always accurate Max Abelson, the handsome young man who writes the Manhattan Transfers column at the NY Observer, reports that the Morton Square penthouse that the rail thin Olsen twins bought back in December of 2004 in anticipation of attending New York University is indeed still owed by the mogulettes and has popped back up on the market with a spine tingling asking price of $11,995,000.

Not a bad return considering the twin tycoons paid $7,300,000 for the 5,725 square foot condo that features 12 rooms, 5 bedrooms (including a big bedroom suite with a walk in closest and dressing room for each of them), 4.5 bathrooms, 53 windows, a 53 foot long living and dining room space separated by a glass enclosed fireplace, and every celebrities dream, a service elevator to whisk occupants directly into the subterranean garage without having to cope with the paps camped out in front of the building.

78 comments:

Anonymous said...

Didn't they put millions into a renovation? They may not come out as well as it seems if they did.

luke220 said...

I think it's on the wrong side of the building.

Anonymous said...

It wasn't renovated - spec is that of the developer. I actually detest this building, it's just plain ugly & the finish in the apts is so unbelievably cheap it's astounding any units sold.

Anonymous said...

Tell us about why Ashley bought dingy place in Hancock Park for just 1.6 mil - she obviously can spend alot more.

Anonymous said...

The finishes are terrible - someone will need to gut the place. No central AC for 12M just LOUD units in each room. YUCK.

luke220 said...

The Corcoran website has interior pics. It is dreadful. Supposedly they worked with the developer to move some walls around-- nothing else.

Anonymous said...

Had they moved in I'm pretty sure they would have completely renovated. Those 3 extra bedrooms would have bn turned into closets! Having seen the property they sold in Brentwood I really don't think the interiors of this apt represent their taste in decor or space usage.

Ed from westwood said...

well the NY market is worth 500 a sqft so this place is worth 15MM, 12MM is a bargain, 3MM below appraised value.

Then again the US dollar is now worth 50 cents so should the place be listed at 24MM ? to make up for the low dollar ?

Anonymous said...

Ed you should not be allowed to speak. Ever. Everything you say and think is completely stupid. Go live under a rock.

smiley said...

http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1129536

:)

Ed from westwood said...

anon 9:15 AM

what are you talking about, do you live under a rock ? are you in business or are you a king with no kingdom to rule over ?

I converted all of my US dollars to euros over a year ago, glad I did, doubled my money.

Go to school, get an education, MBA, then come back and make an intelligent comment.

and yes believe it or not manhattan real estate is now worth $500 a sqft or do you not read the news.

caveman said...

5725sq ft X $500 =$2,862,500

i'm confused as usual

luke220 said...

Ed, you aren't very good at math. The first time you printed it I thought it was a typo. The number is not $500 per square foot- haven't seen that in a looong time.

Anonymous said...

MAMA speaking of new your how bout some Hamptons updates.

Please
please
please
please
with sugar on top

Anonymous said...

oops new york

Anonymous said...

Ed - Seriously!

$500 / sq ft is an average ... This increases / decreases depending on area / building ... Morton Sq is not a nice building with an awful finish & for a similar price & for a similar sqft you could have a far nicer building & an apartmet that doesn't need a gut renovation ...

p.s - If you converted all your dollars to euros then at somepoint you'll need to convert them back ... unless of course you plan on leaving 'Westwood' & moving to Europe.

Ed from westwood said...

well that is the average amount, I am sure in the pricer sections it is far more like $2000-$3000 a sqft.

I think that NY Real Estate market will continue to go up and I think that their asking price is fair given that it is NY in a manhattan prime area.

As long as Wall Street continues to go up, the RE market in manhattan NY will continue to go higher and they will sell like hotcakes, although LA, Chicago, Miami and other major US cities will be on the decline.

Ed from westwood said...

The average sales price of residential buildings in Manhattan south of 96th Street broke $500 per square foot for the first time in history, according to a report by Massey Knakal and appraisal firm Miller Cicero. The report also said that in Upper Manhattan, the average sales price of mixed-use buildings increased by 53.6 percent from the first half of 2006 to the first half of 2007. more [NYO]

Anonymous said...

Wait! Isn't the average price $1100 in Manhattan ... Geez, you're even confusing me now ... you really should go back under your rock!

In Defense of Ed said...

Ed's math skills may be a bit less than excellent, but he's right about the escalating price of New York City real estate.

The third quarter numbers just came out and NYC has had a 20% increase in prices over the third quarter last year.

Twenty fucking percent.

Manhattan was something like 17% and the average price of an apartment (coop/condo) is over $1,300,000.

Prices might be sliding everywhere else, but here in New York, the prices just go higher and higher.

In the better and more desirable buildings, price per square foot exceeds $2,000. Shocking but true. Just look at the small studios in the Meier buildings that sold for well over a million bucks.

I'm dizzy thinking about how much my little studio in a good building is worth now.

Ed from westwood said...

Anon 9:53 AM

Try and buy a place in a good area of manhattan for 1100, better yet go back to your time machine, go back 20 years then maybe you will be right on with your asinine comments.

Ed from westwood said...

Thank you, and apologies for my math, I have not had my latte yet.

Anonymous said...

Dumbass! I was saying the average price per sqft in Manhattan is $1100. The AVERAGE price per SQFT. MY time machine? You were just telling us it was $500 you idiot!

Anonymous said...

According to Reuters - the average price at the prime end of the market in each city -

1] London - $4600 / square ft

2] Monaco - $4380 / square ft

3] New York - $3200 / square ft

4] Hong Kong - $2460 / square ft

Ed from westwood said...

It is $500 JERKOFF !!!!!!!!! a sqft

not $1100, do your homework !!!!

starts at 500 gets up to 2-3k a sqft.

if it is 1100 a sqft, show proof I did !!!!!

Ed from westwood said...

Reuters ? they are as reliable as the national enquirer !!!

Ed from westwood said...

You know what ? I had my latte, I am sure we all agree that NY London Tokyo RE will continue to go up.

My apologies for my rude behavior, I cannot believe that I let an anon with far less money education than me get on my nerves by calling me a DUMBASS !!!! with that said I wish all of you a good day.

caveman said...

ed, for the life of me, i can't follow your argument.
sometimes you're actually arguing against yourself.
take a nice long nap, gather your thoughts & try it again.

Anonymous said...

ed from westwood = phoenix

Anonymous said...

Ed from Westwood is a complete idiot, he doesn't know what he's talking about and he's probably poor. Nice try trying to make it look like you have money when it's obvious you don't. You live in Westwood not the West Village. I'm quite certain that someone who lives here will know the home prices a little bit better than someone who lives on the other side of the country.

Anonymous said...

"I cannot believe that I let an anon with far less money education than me get on my nerves"

HaHa! Presumptuous to say the least! I very much doubt it buddy. I mean, 'westwood' wouldn't indicate money & 'education', well, going by the above comments it's you that cannot multiply!

You HAVE been arguing with yourself & like the other poster said, Phoenix returns! oh dear lord!

Anonymous said...

11:15, phoenix was last in FL when he left us and is infinitly smarter than ed.
caveman, I can't follow the "logic" either. ed, your thought process is hysterical.

Ed from westwood said...

Westwood is in los angeles, have you heard of it ? It is the manhattan of LA. I live at the top of a highrise on the wilshire cooridor.

anon you are digging yourself a far deeper hole than you can get out of, quit while you can.

Hippie Canyon said...

Oh my various gods. I leave for nearly a month for reFABulous and come back to something quite, well, Jerry Springer-like. Yes I vowed not to write while the strike goes on, but hey... it is a nom de plume, right? I admit I've missed adding my hangover induced comments, and seeing Aunt Mary & Caveman's comments, along with Tallulah Bankhead and others, bein sur! But I'm not so sure I can hang with all this outright bitching. I think some of us need to just go masterbate, have a Diet Coke, and chillax. Now, if you'll excuse me, I have to go wash off this keyboard.

Anonymous said...

woo-hoo! I have to smoke a cigarette for this!

I love the LA vs. Manhattan debate. Ed, I believe you're who you say you are. If you were lying about your status, there's no fucking way you'd pick Westwood. And the Wilshire corridor...!? That's LA fancy for a parkway.

1 Morton Sq. is repellent. The views, though... NY real estate is mind-boggling, end of story.

caveman said...

i think this blogs been suffering from a month long case of the hippie hippie shakes.
welcome back hc

tracy said...

So... is the bathroom in the NW corner actually lacking a sink, or was that an oversight by the person who drew the floorplan?

Anonymous said...

"Westwood is the Manhattan of LA"

WHAT???? Not even close, and I'm an Angelino not a New Yorker. Bunker Hill or Century City are closer to being the "Manhattan of LA". Westwood is a college town (UCLA). And a dying one at that. There are condos and apartments along Wilshire between Westwood and Beverly Hills in what is called the "Wilshire Corridor". It's one stretch of one street, maybe a mile long but I doubt it. There are a large number of ex New Yorkers in those apartments/condos, maybe that is the reason "ed" thinks it is Manhattan.


anon 11:29, just because someone says on the internet that they are in "westwood" (or Florida for that matter) doesn't mean it is true.

aunt mary said...

Hippi Canyon, how nice to hear from you again. You were missed. We have gone off the rails here a couple times but Mama became quite stern and very nearly had to raise her voice and now all's well.

Tracy, I noticed the same thing.

Ed from westwood said...

I meant century city westwood, they are right next to each other.

They are sure priced like manhattan, the place I bought in 1998 for 700k is now worth according to other listings in my building, 4-5MM, and it is not even a penthouse, those are more in the 7-13MM range.

luke220 said...

And did you notice Tracy that two of the "bedrooms" don't have closets? It is a terrible plan, not even on the river side of the building.

Anonymous said...

"I meant century city westwood, they are right next to each other."

Sorry Phoenix.. I mean.."Ed", you just showed your hand.

No one who actually lives in Century City would ever say they lived in Westwood or the Wilshire Corridor for that matter.

Ed from westwood said...

I do not live in century city you idiot !!!! I live a mile from westwood blvd right near the bh country club, I am on wilshire.

I was saying that westwood and century city are like the manhattan of LA, downtown LA is a joke, my neighbors are CEO's, Royalty some stars, and they would never live downtown LA, it is below their status, as it is below mine.

jerkoff !!!!!!!! and I am not phoenix I do not know who that is my name is Edward, graduate of UCLA, hence why I bought the condo down the street from there.

Unofficial Moderator said...

STOP IT!

Come one. One of the thing that makes this blog so great is the fun and witty spirit of the comments and the pointe barbs and "idiot" this and "jerkoff" that just ruins it for all those that come here fro a little relaxation.

if you disagree with ed, fine, state your difference and move on. These commentaries are much better, more informative and funnier when people communicate rather than make ugly slurs at each other. Come on!

Anonymous said...

"I live a mile from westwood blvd right near the bh country club, I am on wilshire."

Really? If you live on Wilshire a mile from Westwood Blvd, you are about 3 miles away from the Beverly Hills Country Club. The country club that sits between the Wilshire Corridor and Beverly Hills is the Los Angeles Country Club.

Give it up. No one believes you live anywhere near Los Angeles.

Ed from westwood said...

what are you talking about I can see the golf course from my balcony.

You are just a jealous broke jerkoff!!!!

I will leave it at that.

Ed from westwood said...

EXCUSEEE MEEEE !!!!!!

The los angeles country club right off of beverly blvd okay ?

although we call it the BH country club or BH golf course because it is in beverly hills, I can also see the playboy mansion and the spelling mansion !!!!!!!

are you even in LA ? or are you getting this information from wiki ?

Anonymous said...

Can I just say, I'm a different anonymous - I think Ed is arguing with about 3 different anonymous peeps from what I can make out.

You had a pop at my education & you went to UCLA? I've never been more insulted! "far less money education than me" - I think Mr Ed needs to eat his words!

Also, 'jerkoff' is a bit much - have some respect when you're on mamas blog!

ED-NEEDS-A-XANAX said...

Being able to see properties in Holmby Hills & the B.H.C.C doesn't elevate your social status - It just makes you look like a total name dropping wannabe like the other 95% of L.A residents. Pathetic.

Ed from westwood said...

What is wrong with UCLA ?

Who Cares said...

I don't know what people in Westwood or Century City or wherever call the Los Angeles Country Club, which is bisected by Wilshire Boulevard, but the Beverly Hills Country Club is down on Motor Avenue just above the 10.

And there's not golf course at the BH Country Club. However, according to their website, the BHCC is affiliated with the Calabasas Country Club, which is clearly nowhere near Beverly Hills.

Ed from westwood said...

That is the hillcrest country and the rancho country club my friend.

Ed from westwood said...

excuse me the rancho golf course, they are not in beverly hills, however the LA country club is hence the BH country club, if you really want to get technical the Bel Air country club which is a few miles away is the creme dela creme of country clubs in Los Angels.

Ed from westwood said...

I see what you are saying and since I do not play golf so I get them confused.

To me a country club should have a golf course on the premises don't you think ? It would explain why some refer the Los Angeles country as the beverly hills country club.

A. It is in BH
B. It has a golf course on the premises.

Who Cares said...

No baby, I'm talking about the Beverly Hills Country Club on Motor Avenue.

There really is a place called the Beverly Hills Country Club and it's not the Rancho Park place, or Hillcrest, or the Los Angeles Country Club or the Bel Air Country Club.

It's called the Beverly Hills Country Club and it's old school and not glammy and it's just fabulous.

http://www.beverlyhillscc.com/

Anonymous said...

Good Lord! You don't know when to quit.

The Los Angeles Country Club, the Playboy Mansion, and the Spelling Mansion are all in the City of Los Angeles.

The country club "right off beverly blvd" is the Wilshire Country Club.

Anonymous said...

Seriously, these comments are just so funny in a crazy petty way. Ed, you're rather contradictory to say the least. Eddy baby, are you positive you're actually in Westwood, LOS ANGELES & not Westwood, NEW JERSEY? I'm starting to wonder = )

Ed from westwood said...

I can see the mansions and country club from my balcony, 405, westwood blvd and wilshire backed up.

From the roof I can see everything else, the fox lot, BHCC country club, rancho golf course.

It is a bit chilly out here.

Yes I am sure I am here.

Ed from westwood said...

I am done with this.. I do not need some nut job to figure out where I live.

For this post say what you want, I really do not care.

Anonymous said...

As a native Angelino AND UCLA grad (1988), I can tell you this "ed" person is completely full of the stuff that drops out of the back end of my dog.

It is now and has always been the Los Angeles Country Club. It is in Los Angeles. It is not in Beverly Hills nor does anyone who has actually been here think it is in Beverly Hills.

There is no such place in the westside as the "Rancho Country Club". There IS a "Rancho Park Golf Course". It is a municipal (read: public) course, it is hardly what one could call a "country club".

Hillcrest is the country club popular among the old BH money. I would name names but it would bring out the anti-Seminite who has been trolling the last few days.

We have no shortage of country clubs. There is the Bel-Air, Brentwood, Riviera, Mountain Gate, and yes, the Wilshire in Hancock Park (lord help us, the anti-Hancock Park troll will be here next).

Anonymous said...

Ed from westwood said...
I can see the mansions and country club from my balcony, 405, westwood blvd and wilshire backed up.

From the roof I can see everything else, the fox lot, BHCC country club, rancho golf course.

It is a bit chilly out here.

Yes I am sure I am here.

---------------------------

All sh*t a monkey could figure out with a google map and weather.com.

luke220 said...

Getting back on point, if Ed thinks that the Olson's place is a bargain at $12MM then I think he should buy it. I don't think that anyone else will at that price.

Anonymous said...

Since he can get it for about $300,000 down (EdMath**), he's probably already on a plane to NY to do just that.

EdMath:
5725sq ft X $500 =$2,862,500.
All his money is Euros so knocks price down to $1,431,250.
20% down = $286k

LOL!

Anonymous said...

Why is all his money in Euros? I still don't get it! Do the children feel that the numerous 'country clubs' in L.A take Euros? Me don't think so. Crazy.

average joe said...

go to business school and major in international finance, they teach you how to live off of Euros in the US

luke220 said...

We'll have to tell Ed that the US dollar is stronger on the East Coast- one euro is only $1.50 US. Maybe the 2 for 1 is only with Westwood dollars.

Anonymous said...

ed dollars are worth less than euros

Anonymous said...

I suspected "average joe" and "ed from westwood" (along with phoenix) where all the same person. Now I am certain.

Anonymous said...

Make that "were". In the infamous words of Ed, "I haven't had my latte yet", lol.

Anonymous said...

The exchange rate is the same in Westwood as New York. It is only in someone's mind that it is different. If he actually had put all his money in Euros, isn't he going to be surprised when he realizes it hasn't doubled!

Lets see... two nickels converted to Euros... Wow! .067796 of a Euro. I'm going to Disneyland!

Anonymous said...

who is phoenix ?

Old Hag in a house said...

What happened I was reading the comments section on this posting and I feel asleep.Nobody cares that my bitch daughter is trying to have me thrown out and have my name linked to a series of celebrity murders.
HELP!

Anonymous said...

phoenix was an insightful and thoughtful commentator and much missed. To see what happened go back in Mama's archives to John Wells home Sept 5.
anon 7:27, I thought the same thing about avg joe b/c we hadn't heard from him/her but don't believe so anymore. No way is phoenix any of these characters.

Rodney King said...

Can't we just all get along?

This is all so much more fun when people are trying to outdo each other creatively rather than just say mean things about each other.

I liked Phoenix. He was funny and arrogant and one of the first voices to regularly comment on this blog. Yes, he could be annoying, but so what?

I for one miss his particular brand of "I live in a Meier Tower" insight.

It takes all kinds and I tune in her for all of the funky characters.

Come back Phoenix.

P.S. I am positive that Average Joe, Phoenix and Ed from Westwood are not the same person.

Anonymous said...

Rodney,

You getting on the web ok after getting shot in the face last night? They're saying on the news that you and your friends were all under the influence and your friends are being uncooperative. Say it ain't so....

I disagree about the triple named troll. He (or she) is one and the same. The real question is what name will he/she post as next?

luke220 said...

Ed posted on Louella's blog today- something about euros.

Anonymous said...

wow, craziness.
back to the point here...and I'll say this in very general terms.

Ed, I forget what the average price for square foot here in Manhattan is at this point for a condo or co-op, but it's probably AROUND $1,000. That's average. Most "high end" places like this (although this place is a mess) go for around $2,000 per foot and up. So that's probably how it was priced, but I really doubt they'll get that much.
As for your $500 number - from the Observer - that was the average price paid per foot for apartment BUILDINGS - that means buildings being bought by people with the intention of continuing to rent them to tenants or convert them to condos or, perhaps in some cases, for their own use.

I can't comment about the rest of this discussion since my head's spinning.

Anonymous said...

Ed from westwood said...
I converted all of my US dollars to euros over a year ago, glad I did, doubled my money.


Ed you're an idiot! It's you who should get an education. So, you converted all your Dollars to Euros and doubled your money?? Huh? How do you figure? The Dollar is weaker than the Euro Einstein. If you converted your Dollars to Euros...you'd LOSE money.