Monday, February 11, 2008

Your Mama Hears...

...That Nancy Daly, the estranged wife of Los Angeles' really rich ex-mayor Richard Riordan, has very quietly sold her Carbon Beach compound at a price that will have even the most jaded real estate queens in Malee-boo peeing in their pants. Our sources, and there were several helpful insiders on this one, whispered in our big ear that the colossal Craftsman style house was sold to a young hedge fund honcho and his wife who coughed up somewhere in the neighborhood of $50,000,000. Yes, children, you read that correctly, fifty million clams.

Just a little more evidence that even as the middle class is getting foreclosed on right and left and the economy makes an ugly spiral toward recession, those that grease, turn and manipulate the financial wheels of the great U-nited States are still swimming in money like pigs in shit.

The 15,000 square foot (approx.) house sprawls across a leviathan ocean front lot that Miz Daly smartly pieced together from several smaller contiguous lots and is located smack in the middle of billionaire's row with Dreamwork's Jeffrey Katzenberg on one side and former Yahoo CEO Terry Semel on the other.

While we have no doubt that Miz Daly wished to keep things hush hush, the reality is that one can not sell a $50,000,000 house without people talking and all the real estate gossip's tongues wagging. Just keep in mind kids that all this comes through the gossip grapevine and until a transfer records, it's all just rumor and gossip.

Although most of our sources did not have the nicest things to say about Mister Riordan, by ALL accounts Miz Daly is a lovely, kind, discreet, and philanthropic woman. Your Mama wishes her all the best as she pockets her massive wad of cash and moves on to whatever piece of prime property is in her future.

38 comments:

so_chic_darling said...

This one is a palace compared to the dump Mr Morton is trying to unload and that there was so much endless chatter about yesterday.
Anyway,would love to see some interior shots.For the money I would much rather have the Katzenberg place next door,one of my favorite Malibu beachfront properties

Wrecking Ball said...

That house is beautiful even from the street.

bentley said...

Ahh, the crash of surf, a 2x2 lawn, unleaded gasoline fumes wafting in from THE HIGHWAY four feet away, drinks and an al fresco lunch accompanied by the rumble of Johnny Rocker's pimped out Escalade rolling by. Heaven.

Anyone for tennis?

50 million - what the fuck is going on?

Popeye-the-sailor said...

i yam totally with bentley-boy on this one.

that is one hemmed in looking property.

and what is that, a Vons or something across the street?

anyone with good groundies, or a good left-handed forehand topspin shot is going to make mincemeat out of opponents on that very hemmed in looking tennis court.

Barren Karen said...

I think that's a pickle ball court, isn't it?

This house is far too BIG for my taste. As some of you know, the BK does not think big is necessarily better. This would a great house for a family of 40.

Phooey on you whiners. Have any of you actually SEEN with your actual eyes the S. Cal coastline? it's almost entirely houses slammed on each other with a busy road at the front or a pedestrian walkway on the sand side. This is how it's done in Cali.

All you mid-western moaners can have your swampy lakes and ponds where you can't see your neighbors. I'll take the traffic, the noise, and an ocean front cottage in Malibu any day, thank you very much.

pch said...

Prettier from the street. But typical of the clumsily leviathan revival-style houses built on Carbon Beach over the last several years. It's like everyone fell in love with some theme hotel at a Disney resort and commissioned one of their very own.

popeye-the-sailor said...

Bluto and i plays a lot of pickle ball, and its a gas, but i'm pretty sure that ain't a pickle ball court.

and if it is, that's a liability for a house like that - since there's nothing like playing three sets of singles and heading into the water, then into the house for a spinach salad.

bentley said...

Please, BK, mid-western?

I've spent plenty of time barefoot and boozy in Malibu, thank you.

But I shan't repeat myself...

Alessandra said...

I'm with Bentley on this one. And I live in LA and used to live for many years within a short walk of the ocean and have been to Malibu enough to think that $50MM with NO land and zero set back from the PCH is well, a bit steep, even in these heady days of high-priced real estate. I can understand that price for a Hamptons or Palm Beach spread where there's a bit of acreage attached.

I don't want to sound like I'm picking on Malibu. Again. The appeal is there for a weekend type beach shack or even a lovely spread...but this house just seems to be the worst of all possible worlds. Then again, something is technically worth what someone is willing to pay for it, so I'll shut up now.

lil' gay boy said...

I'm with you on this one, Bentley; funnily enough, this is the exact same house I was comparing to a local seafood restaurant just the other day - here's the link to the photo I was referencing:

http://www.californiacoastline.org/cgi-bin/image.cgi?image=200601902&mode=sequential&flags=0&year=2006

There is that fugly, albeit conveniently placed strip mall where Sunny and I have a 3 AM rendezvous to have our nails done right across PCH.

As to "getting" or "not-getting" Malibu; please, already? There are plenty of oceanfront lots on both coasts of this country that are not as jam packed with real estate as the 'Bu is, with and without comparable views. First rule of real estate (come on chilruns, repeat after me:)

"Location, location, location . . . "

Malibu's greatest appeal is its proximity to LA.

It's easier and safer to alight from a cab in downtown Manhattan on the driver's side than it is to exit a parked car on PCH. And is it too much to ask that I not have to squeeze myself sideways just to take the trashcan to the curb?

There are much more stunning views elsewhere of both the Pacific and yes, gasp, the Atlantic that don't have neighbors so close you can hear their foundations slowly erode. Let's just take one example:

Big Sur has much more stunning views than Malibu, but it's simply not as close. And even with it's restrictions, protected areas and isolation, for the same amount of money you'd find yourself with a view just as fabulous, only surrounded by ACRES of land.

Anonymous said...

LGB...

All due respect, but have you been to Big Sur? I have. Many times. It's fucking spectacular. But it's also cold. foggy, cold and damp. Not where the rich and famous are going to be soaking up the sun in their bikinis.

These people in Malibu live in LA. Why the fuck do they want a house in Big Sur where they have to wear sweaters in July? Not to mention take a plane to get to.

popeye-the-sailor said...

well, blow me down - it turns out a pickle ball court - is 20" x 44" in a 26" x 60" space, whereas a tennis court is 36" wide by 78" in 60" X 120" space, so as dern crazy as it might seem for a hoose like that, i think it might be a p-ball court - cause there ain't no doubles alleys either.

the house looks like the fuckin' SHADY REST HOTEL from Petticoat Junctionafter growth hormones and plastic surgery

Anonymous said...

Totally worth it.

Not a fan of this particular house but you are buying something that may not be available for another decade or two ... Carbon is the best beach in Malibu, Has the highest profile neighbors, largest beach properties & close to the center of town ... There are people who are waiting years for a property like this to come on the market - it doesn't happen often.

If the shack a few doors along next to the Lautner was on at $18M, a small property at the end of the Colony was on at $28M then this place is surely worth $50M ...

And people, stop comparing Malibu to other beach communities ... Yeah, beachfront in the Hamptons gives you more land & privacy but can you be in Manhattan within 20mins? Hell No! ... In 20mins you're still crawling along the Montauk Hwy en-route to the L.I.E!

Anonymous said...

OK, I've been reading this blog for a while (and make the very ocassional comment). I'm from NY, and I've never been to Malibu, but I'm a RE junkie and I'm starting to get a feel of what you get and what it goes for. But this one...FIFTY CLAMS??? Five - Zero. I hope that's high tide, because any higher, and bye bye big house. And that is one ugly looking highway out front. but 50 mil for a gigantic house? Come on.

Anonymous said...

Was the court case ever settled between Daly/her neighbors & La Costa residents?

lil' gay boy said...

Anons 10:56 & 11:10

Sometimes isolation from where one works (or plays, as the financial case may be) is the point of a "getaway". Have you really escaped the ratrace when your personal assistant can be ringing your doorbell half an hour after you've left them?

Yes, I have been to Big Sur actually, as the guest of the owner of a stunning estate on Partington Ridge; a very gracious Japanese style home on several acres, and i recall it being too hot to sit out from under the umbrella at the time (the beginning of September).

And if you really need to be in Manhattan so fast, take a helicopter; there's endless fun to be had watching East End neighbors feud over who can and cannot land their 'copter next to those prize-winning azaleas . . .

Hi There said...

Oh LGB, you are so very impressive. Not only have you been to Big Sur, but to a multi acre ESTATE in Big Sur. And on Partington Ridge no less. I'm in awe of you and your access to rich people.

Gaaack!

Beach traffic in Malibu does suck though. But it sucks in South Beach and the Hamptons too.

lil' gay boy said...

Hi there,

Don't get the wrong impression; I have friends who live near Big Sur and get to visit them often.

But guests, like fish, begin to stink after three days so I don't abuse their hospitality often.

And the host of the estate in Big Sur was the University of Minnesota (they'd leased it to study the migration of whales); hardly high rollers, either of them.

Just pure and simple serendipity, that's all.

Anonymous said...

LGB

"Sometimes isolation from where one works (or plays, as the financial case may be) is the point of a "getaway". Have you really escaped the ratrace when your personal assistant can be ringing your doorbell half an hour after you've left them?"

You're assuming that everyone treats malibu as a 'getaway' ... Quite the contrary. Yeah, there are many 2nd homes but there are many year round residents who like to live by the ocean & still be 10mins to Santa Monica or 30mins to Beverly Hills/ West Hollywood ... That's what appeals to people.

lil' gay boy said...

Anon 12:40,

Point well taken - just as there are year-round residents in the Hamptons, Outer Banks, Palm Beach, etc. so there must be in other seaside towns.

It just seems that many of the owners you hear about in Malibu also maintain homes "in town" as well; you don't often hear about residences in Malibu as being the primary one.

Must be nicer during the week when less people are around.

lil' gay boy said...

Popeye had me scratching my head for a minute there, so if you're like me and wanted to know more about pickleball, here it is (can you tell it's a slow day at Chez Gay?)

;-)

"Pickleball was created during the summer of 1965 on Bainbridge Island - a short ferry ride from Seattle, WA. The original purpose of the game was to provide a sport for the entire family, according to co-inventors U.S. Congressman Joel Pritchard, William Bill Bell, and Barney McCallum.

Pickleball obtained it's name from a family dog named Pickles that would chase after the pickleballs and then hide them in the bushes. Pickle's ball was later shortened to "Pickleball", its name today. Initially, families played Pickleball in their backyards on a hard surface, on driveways, and even on residential dead-end streets. Since the mid-1970's, Pickleball has grown and expanded from a family activity game to a paddle court sport with formalized rules. Now, over 20 years later, Pickleball is played at thousands of school P.E. programs, parks and recreation centers, correctional facilities, camps, YMCAs and retirement communities. This sport is becoming very popular among active senior adults at community centers"

Lee said...

pickleball is where ping pong meets tennis. you play with oversized paddles and a wiffle type ball.

slice, topspin, drives, all that stuff is available to you. even a drop shot, tho the size of the court doesn't allow that to pay off so much.

while highly addictive, it doesn't have the soul or drama of tennis. it'd be hard for example, to be a mcenroe type player, who while others had dominion over the ball, had communion.

somebody's sister said...

She bought...oops...was awarded...a "permit" [item 24C on document] w/Coastal Commission to level these 3 structures and build a mega-place. As part of the deal, she greased...oops...donated some nearby land for a new public easement to get around the CCC's "open view corridors" technicality. Whatever. But this can't be new construction. Seriously, who in their right mind would plan this elevation by choice?

If anyone really cares, the saga is easily googled.

Anonymous said...

Just googled, she applied, it was approved. Built a NEW house in 2002. Part of the plans involved removing and then REPLACING a public access that already existed.

Why do some queens have to make everything drama?

Geesh.

Anonymous said...

She bought land along with 2 of her neighbors [Eli Broad & Haim Saban] on ANOTHER BEACH! [La Costa] so they could flout the'open view corridors' regulations ... The La Costa homeowners association then sued the CCC which I think is still ongoing & the land is still fenced up with no access as far as I'm aware. The rich make the laws in Malibu ; )

somebody's sister said...

Yes it was approved as already linked. These three houses were not demolished, per permit details. The donated beachfront access upset other residents, but was developed despite objections. Pal, why do you talk this way? Ease up or you'll explode...that that would be messy.

Anonymous said...

'Why do some queens have to make everything drama'

It's still very much an ongoing case & has had lots of media coverage along with Geffens gate, think you'll find when well known billionaires buy their way out of certain laws & restrictions it's going to create drama. In the media it's the La Costa Beach millionaires V's the Carbon Beach billionaires.

somebody's sister said...

Hi 2:19...
Hope you can appreciate that for the sake of compressing my comment, wasn't about to cite the rancid and ongoing scuttle. The entire beach access / Geffen thing in Malibu is an endless mess...ergggg. :)

All parties concerned in the "donation" are also denying major campaign donations...fa...la...la. Curious. It's of course all denied, and I really believe that -- LOL.

lil' gay boy said...

La Costa vs Carbon - sounds like they should each have a cheer-leading squad;

"Costa is la Cosa Nostra . . . "

"Carbon's Dated, rah, rah, rah . . . "


Ah, I can just see them in their cute little spandex uniforms now . . .

Anonymous said...

'Yes it was approved as already linked. These three houses were not demolished, per permit details"

Huh? ... I wasn't talking about properties being demolished or the properties built on Carbon Beach. I was talking about the CCC accepting the donated land on La Costa Beach - the La Costa Homeowners Association decided this was against the law therefore La Costa Home Owners Assoc Sued California Coastal Commission & won in the Superior Court who claimed "CCC violated the coastal act". The CCC then went to the Court Of Appeal who sided with the CCC & overturned the lower courts decision. [In a nutshell!]

The land is now legally owned by the CCC but has NOT been developed. La Costa has no public access pathways other than this piece of barren donated land that may still be partially fenced [but i'm not 100% sure if it still is] Dangerous stretch of PCH so I never really look & there are always parked cars so hard to see if it's fenced off still.

somebody's sister said...

4:23
Yes, yes and yes.

You helped me to understand what's still happening with that easement and I DO appreciate it. I can't keep track of each and every egress that's being disputed. I am totally for free beaches in Malibu and it bothers me that the homeowners are trying to call our west coast shores private.

I do thank you for letting me know the owners have not won all the wars on this subject. The googling became so conveluted that I gave up attempts to drill down for any recent conclusions.

Anonymous said...

where is la costa in regards to carbon?

Hippie Canyon said...

I agree with PCH on the whole theme architecture that has changed Carbon Beach over the last 10 years +. For my invisible money, I'd take a place on Malibu Road. Very tranquil, low traffic street, speed bumps, walk to Ralphs, and the occasional surf stud from the Valley changing clothes behind his Chevy Sonoma makes it oh, so worth while. Now, in regard to the size of lots, and proxmity to neighboring houses... I personally don't mind living close to my neighbors (unless they start parting WITHOUT inviting me). I'm just not especially fond of super wide streets and big lots. It makes me feel disconnected. I guess I'm a big city boy at heart. And as for Malibu being, well, dull and ugly. Umm... don't know what to say. There's a historical cache to this town and you either get it or you don't. I suppose you have to hold to a romantic sense of celebrity and the industry, such as I do, in order to find anything alluring about Malibu. But if you drive down Malibu Road one night, music off, windows and sunroof open (or top down), you'll hear the gentle sounds of the ocean sweeping between the houses carried by the sweet breeze. The walkways softly lit... the Bentley GT parked in the drive, the rare Gemballa Cayenne sitting on the right side of the street... a fab couple fornicating behind the contractor's trailer, not seeing (or caring)that I'm sitting in my car... yes, I do love Malibu.

sunny in sj said...

Big Sur can be cold but it can be very warm too. Down that way it is actually warmer in the fall than the summer...due to the fog, I think. Anyway, Big Sur is breathtaking and relaxing (except when you're on Route 1 and someone is trying to pass around a curve!)and I agree w/LGB. I stayed on Cape Cod one summer as a lass for 3 weeks and it was the best summer I had as a kid. A big old house about a block from the beach, we would bang out the screen door every morning, come back for lunch, bang out the door until dinner. It was heaven.

LGB, this is the house we're to stay in when we get our nails done?? Well, okay if I have to.

Anonymous said...

Bottom line - the beotch is counting her 50 million clams and could care less about a bunch of whiners who couldn't afford the construction trailer much less any of the houses.

lil' gay boy said...

Sunny,

God, no!

The house next door to it, maybe, but not this restaurant-like behemoth.

I'm not willing to be mowed down on PCH running back and forth between this pile - not even for French Tips!

Anonymous said...

how much did kurt make on this one

Baby Bedding said...

Simply Georgous