Thursday, March 6, 2008

Paris Latsis Has Some Serious Real Estate Cajones

SELLER: Paris Latsis
LOCATION: Beverly Crest Drive, Beverly Hills, CA
PRICE: $15,000,000
SIZE: 7,034 square feet, 5 bedrooms, 5.5 bathrooms
DESCRIPTION: Absolutely stunning architectural w/head-on city/ocean views, gated & private from street. Spacious entry w/walls of glass leads to floating glass & stainless steel staircase. Drop-dead gorgeous MBR suite w/fireplace, huge bath, walk-in closet and massive wall of glass for incredible 180 views. The sleekest and most dramatic LR, DR, kitchen & media room you'll find anywhere. 4 more fabulous BRs en suite, plus great pool w/head-on views. Available for purchase furnished.

YOUR MAMAS NOTES: He may have only become a household name and shot to tabloid fame because he dated, proposed to and bought a big Bev Hills house for hotel heiress and paparazzi magnet Paris Hilton at the perplexing apex of her celebutante fame in 2004, but this week, 20-something Greek shipping heir Paris Latsis is making some real estate news of his own by listing his glass and steel cliff hanger high up in the Bev Hills for a brazen $15,000,000.

Property records show that in December of 2004 Boy Paris bought Gurl Paris an 11,206 square foot mansion in the guard gated Beverly Ridge Estates. The fickle lovebirds soon went splitsville and Boy Paris sold off the giant house in November 2005 for $12,250,000. Not a bad return considering the young man made no improvements to the property and owned the place less than one year.

In April of 2006 Boy Paris purchased this three-story house on snazzy Beverly Crest Drive for $9,200,000. Yes children, $9,200,000. Let's break out our bejeweled abacus and work those numbers for a minute. Apparently, young Mister Paris and his financial advisers think the value of his 7,034 square foot house with 5 bedrooms and 5.5 bathrooms has shot up a shocking 61% in value over the last two years even though the seemingly jobless heir has done nothing to improve the property but fill it with a truckload of uglee ass contemporary furniture. With all due respect to Boy Paris, his people, and both of his very classy and hugely successful real estate agents, but are y'all outta your ever luvvin' minds? Seriously? Sixty one percent? Please.

Listing information also reveals that Boy Paris is interested in leasing the property for $38,000/month long term and $50,000/month short term. If anyone were to ask Your Mama, and of course no one did, Boy Paris might have an easier time leasing the place if he removed every stick of dee-pressing and hodge-podge furniture as well as most of his Marilyn Monroe posters. Feel free to leave the hot-cha-cha Chihuly chandelier above the stair. Just a thought.

Even more surprisingly, listing information indicates that Boy Paris's pad is also available for purchase furnished. With that furniture? Oh dear jeezis, please say it ain't so. Who in their right mind is going to pay $15,000,000 for that house and then pay more money for a decorating crime scene? Come on!

Now children, please don't twist our words and completely misinterpret Your Mama. This property is not without a great deal of appeal if you desire a sleek and libidinous glass house that floats and shimmers above the city. The spine tingling views are undeniably spectacular, the Crest Street location is attractive, and with billionaire Paul Allen's colossal crib next door, you know the area is very secure. And let's be honest, there are scads of single and 30-something multi-millionaires in L.A. who drive $150,000 sports cars and touch their naughty parts while fantasizing about sitting around a silly sexy swimming pool with a bevy of big boobed Hollywood hussies.

Your Mama firmly believes that with a really good landscaper to clean up the front and the right nice gay decorator who knows enough to replace and unify the floor coverings and how to soften the severe and almost sterile architecture with organic shapes and materials, this house could could be a jaw dropper. The price, however, is irrational. Just our meaningless two cents, of course. None the less, if Boy Paris and his top notch real estate agents can find someone willing to cough up the big bucks for this house...well, bully for them. It certainly wouldn't be the first time, nor the last, that a house sold for more than we thought it would and the owner pocketed an impressive if exorbitant profit.

52 comments:

Anonymous said...

Well, with his family worth $12 Billion I'm sure it doesn't matter whether he sells it for 15M, 10M or 5M ... Wonder if he's heading home to London?

LAPD Tipster said...

I like it from the curb (if re-landscaped). Not so much from the pool side. The worst for me are the umbrellas that look like they were in the sale bin at Kmart. Some modern square or market umbrellas would look much better. And does one really need 4? I like the dining room set. What is that above the MBR bed? Looks like a kitchen fluorescent light fixture. And what is up with the almost empty bookcase in the other bedroom? At least take away the power cords. Or leave the photo out.

Sorry Staging Lady With A Pink Prius, not your best work.

Viva! said...

Of course he's got major cajones! He's Greek!

Anonymous said...

zillow says it is worth 7MM I am sure he will sell it for 4-5MM or he will take it off of the market and wait for the turn around in 5 years or so

Bigdaddyj said...

Proof that even the inherited rich can have no taste!!! (since everyone on hear always talks like old money automatically equals good taste...), though I can't say how far past good old grandad Mr. Latsis' family's good fortunes go back...I can't think of any other reason why the price jumped so dramatically other than maybe there's some uber-wealthy people out there who are out of touch and living in the past in terms of the reality of the real estate market in this country, or a that there's a strong belief by either Mr. Latsis or his realtors that the over $10-million market is still healthy...not every realtor knows what they are doing - case in point, I recently unloaded several condos and townhomes that I owned as investment properties, I interviewed several realtors before I picked one, and let me tell you, some realtors out there still don't get it! Once I found the right realtor, I had three of the properties go to contract in less than a month! Priced right, things still move in this market...

Anonymous said...

btw paul allens residence ? I thought it was on davies drive, I went to a poker game at this massive estate on davies drive a few years ago, I met some kids that said they were his sons, and they invited us to the poker game at their estate, and it was on davies drive,

Anonymous said...

then again I read that paul allen lives in washington, he has never bought a home in LA, nor does he have kids, but who knows

Bigdaddyj said...

Given his wealth and penchant for conspicuous consumption (and just the number of mega-yachts he owns alone), I wouldn't be surprised if Paul Allen owned dozens of homes around the world, including even possibly more than one in the LA area...and with his kinda wealth, ownership could be very easy to conceal through a myriad of trusts and corporations...

Bigdaddyj said...

Also, as long as we're on the topic, has it ever been confirmed if Paul Allen is gay? I believe I've heard he's single and lives with his mom, sounds kinda suspect (not that there's anything wrong with being gay before the PC police put words in my mouth as they love to do on this site...)

Anonymous said...

I believe Paul Allen does not have any kids. According to Forbes, he is single with no kids.

The Hollywood Mayor said...

The smart rich would hold off on buying a property like this because of the economy... the young and restless rich will buy it in a flash because they like the style and how uber batchelored out this house is with infinity pool and all.

The $10M + market is still going strong... the gap between the rich and poor is increasing and if I could afford a $10M + home, this home would be in strong consideration. I just wouldn't pay the full asking price like most of the prominent "high-end realtors" would want me to...

I would tell the jack ass, "Bitch please!"

E.J. said...

We don't need proof that the inherited rich don't have class. It's a given that they don't. Especially the young European inherited rich, who think class is defined by how well their servants dress. And in Hollywood, where it's been several generations since most of the people there had a sniff of class or background. Don't forget. The movie business was built on the back of a bunch of vaudevillians, who've been stupid since the 1920's... It boggles my mind. I know for an absolute certainty that if I were rich I'd be the nicest guy around. I'm pretty sure everyone was say that. And if they didn't, I would. Because I have class.

so_chic_darling said...

I do not think that this house can be redecorated to save it.The only thing it has going for it is the view and the location,other than that it's modern but the wrong kind of modern.It's modern in a Miami vice kind of 80s way and no amount of floor covering or better furniture can change the ugliness of the structure.However this kind of flashy architecture does appeal to alot of people with big cars and bank accounts so I wouldn't be shocked if it did sell for somewhere near asking,maybe to another Euro trash millionaire?remember how weak the Dollar is.

Anonymous said...

OF COURSE THE HOUSE IS IN POOR TASTE- he did try to marry that tacky paris hilton. There's not enough Valtrex to get me near that place.

Anonymous said...

He hardly spends any time in LA so I would partly ignore the interiors. Contrary to the comments above he is a really nice guy, pretty shy & stays away from the spotlight - even when he dated Paris. He's also the absolute opposite of flashy - he used to drive around LA in a Ford truck - No Porsche, No Ferrari, No Maserati - A Ford truck.

Anonymous said...

9374beverlycrest.com

l.a.guy said...

I agree it's insanely over priced; but my one thought looking at the pool pictures is that this is the very definition of an infinity pool. It looks spectacular. I think they'll be lucky to get $10M, but what do I know?

Virtual Tour

Redfin listing

Anonymous said...

so chic - you nailed it with the comment about the 1980's Miami Vice - perfect! The floors are horrid. I had a hard time getting past those to anything else.

LAPD Tipster said...

So chic, I had the same thought other than I thought of the movie "Less Than Zero".

I recommend the photo album on the property website, but be warned to have a good grip on your cocktail glass. There is some interesting furnishings in that house. Check out that pool table!

I confess to only knowing who Boy Paris was by name so I google imaged him. I wouldn't kick him out of bed.

Barren Karen said...

BigDaddyJ you are so crude and I LOVE it.

Alessandra said...

Like the Chihuly, the views, the pool and the tub in the master bath. The rest of it is horrendous. The umbrellas and patio furniture are especially egregious with this home because they look like they belong at a hamburger stand in San Bernardino.

As for the home's architectural merits, there really aren't any. Good decorating could possibly make someone forget that (or if you just love the LA sky line, you don't care), but is it worth $15mm? I wouldn't offer more than $10mm.

Also, the person who put those flowers on the table in the foyer should be shot. This is not a center hall Colonial. Find something else, please. And the music from the virtual tour belongs to a different style of home altogether. I found it distracting.

Nitpick, party of one, your table is ready.

Anonymous said...

I saw the house during construction and while spectacular it's extremely cold inside, all steel, concrete and dark woods. I don't know how much decorating, gay or otherwise, is going to change that. It also has zero curb appeal IMO. Add to that the tri-level wear and tear on your legs. But they'll find someone willing to overpay for exactly that.

Paul Allen does own the estate next door (which was formed by combining the old Rock Hudson house and one other) plus the "entertainment center" house off Readcrest (with the tennis court on the roof for when he was dating Hingis or Seles, I forget which). As for whether he spends any time there, perhaps you could ask the ex-Special Forces guys at the gate and see what they'll be willing to share! Word is PA also owns a vast estate up Benedict which is under construction.

average joe said...

It is not worth nearly 10 MM the rockstar house on sunset plaza which is far bigger, nicer and has better views, it cost 40MM to build the place, the listing started at 15 MM and it is down to 9.9 MM

http://guests.themls.com/view_photo.cfm?mlsnum=07-153701

Anonymous said...

>http://guests.themls.com/view_photo.cfm?mlsnum=07-153701

THAT is a butt ugly house. I'd take Paris' house over it anyday.

Anonymous said...

The house on Sunset Plaza is a complete joke. It took ages to sell last time it was on the market, taking ages to sell this time - It's absolutely vile.

so_chic_darling said...

It looks like the floor is made of granite tile,why would this happen in any house and who would OK such a huge mistake?It must be like an ice rink.

so_chic_darling said...

One last thing about the decor,Mama you say you like the Chihuly chandelier well I think his work is so overated and I just don't like it one bit.

pch said...

You think this house is bad now, wait until some future owner faces the entrance facade in rough-hewn stone, paints everything else yellow and calls it Tuscan.

Paul Allen is a total schmuck for knocking down Frances Marion's Wallace Neff at the top of Angelo Drive.

Edina Monsoon said...

Piece of muslin and a terracotta tile and suddenly it's Tuscany

Anonymous said...

I actually like the house and I saw photos of this home before Paris purchased it. The furniture, lamps, etc. are all the same, so Paris purchased the house as is. The only things that appear to be different are a few accessories, the art, and all of the bed linens.

Anonymous said...

Oh I have to go with mama on the Chihuly.

Kamelia said...

Seriously smoking some good Crack. Dang Rich Folk always make money from money. It ain't no joke.

Your Mama .... I have been a long time observer and now finally an official first time commenter on your Fantabulous -yes that is spelled incorrectly on purpose- blog.

Keep up the Sass. I'm lovin' the daily dose.

lil' gay boy said...

This house is absolutely stunning . . .


in the same way a Taser is. Only because it has walls, floors and a roof could you call it architecture. There's no redeeming it; tear it down and start again with just the pool. Even the Chihuly (which I normally love) can go.

And that other "rock star" house on Sunset; hasn't that damn pile of mica and concrete been on the market since Christ was a child?

property pimp said...

I used to live below the sunset plaza house, motorcycle gangs would park up on the lot and hang out on night, it was cool. sorry average brain joe, that house did not cost 40mil to build. its a long drive up to top of sunset plaza, not fun , i surely got tired of it. thats the problem with selling taht house, and now its dated, very 80s disco feel. regarding greek boy house, very unimpressive from the street, i saw it when it was being photographed before the sale, i thought it was very cool, but 15,000m? well, yeah, its going to take a new rich russian to close that deal

Mrs Peramam said...

I'll take it please as a place for my daughter in law to store her collection of Birken bags and Chanel haute couture dresses while she auditions for parts on American reality TV shows.

Look at that dreadful chair said...

Yes I'm back.

Anonymous said...

PP are you sure the sunset plaza house was not built for 40 MM? I recall reading an article in forbes talking about exactly that a german industrialist had the place built for him and his family but the wife did not like it so he sold it to a internet mogul in the 90's I believe the article stated that it was built in the 90's at a cost of 40MM I have been there many times, it is one of the few places that is built out of steel, hence the high cost......

It is an amazing place, if the price gets down to 5MM I will make an offer for it.

lil' gay boy said...

Look at that Dreadful Chair:

I'm so glad you're back - I missed you!

So which chair is the candidate for this 21st century prison-style architecture that summons your ire the most?

Anonymous said...

Zillow says the sunset plaza mansion is worth 5MM so I may get my wish but then again I am sure it will get taken off of the market until the market turns around, it is 10,000 sqft, a lot bigger than the latis place it was built with steel and granite

lil' gay boy said...

I don't care if it was built with solid gold shit from the Queen's stables - it's still fugly and crass, not an easy combination to pull off . . .

Anonymous said...

This place sold for $895,000 in 2002 - old house + land. To build this house today would cost $4m max.

I put a total asking price of $8m tops. How can this fu$%er and agent justify $15m?

Valerie Fitzerald (agent) speak up you gold digger

Flora said...

I'm speechless. I hate it all. Everything! The outside, the inside, the walls, the windows, the kitchen, the furniture, the art, the bed coverings, the taps, the bathroom tiles, the pool with its fake grass surround and horrid loungers and umbrellas, the, the, the well, ........everything. Ugh.
What a sad house.

Anonymous said...

It's just not that great. Maybe he'll find another very young tycoon who'll think it's "hot"?

And Zillow is notoriously inaccurate - they even talk about improving their accuracy publicly, so it's a generally acknowledged issue. Zillow is useful only in subdivisions where there are many very, very similar properties for comparison.

Luxury Homes In Florida said...

I think it's a great house. I love the windows and I like the contemporary clean lines and many people do also.

Nurse Beaver said...

That's because you're from Florida where good taste hardly exists.

Bigdaddyj said...

Nurse Beaver,

Totally unnecessary comment. You are a bitch. You have the nerve to constantly attack others, like me, for their "rude" posts and then take a completely cheap pot-shot at a newbie for no reason. It's people like you who make this site suck.

Sincerely,

Bigdaddyj

lil' gay boy said...

"Leave It To Beaver . . . "

He got you there - that was crass.

Anonymous said...

Florida,

Buy ad ad.

Anonymous said...

And with such an obviously commercial Blogger name, none of us should click on his/her profile....

Mama needs the ad revenue for a wardrobe for the new show.

SANDPIPER said...

Florida builder / free-rider:
Please consider paying for your ad exposure. You'll look professional and progressive by marketing on Mama's high-traffic-demographics-driven slice of heaven.

It's a win-win. Look forward to seeing a pic and ad text on right col. The BIG perk: being in exclusive advertising company with ...ahhh...Donald Trump.

Get it while you can at Mama's near-term rates. It won't ($$$) be that way forever.

Welcome! W love you!

Anonymous said...

It's disgusting. Like a bad time share resort. The design and finish is awful Just because you have millions doesn't mean you to cover the place in marble or gold or platinum or diamonds. You live in Beverly Hills, we know your rich.
Just awful. Shame on the architect really.......

real estate paris said...

Hey,

Really nicy place!
I like Paris!