Monday, March 3, 2008

Your Mama Hears...

...that the mega money buyers for the $68,000,000 deal on Nancy Daly Riordan's massive Malee-boo mansion got cold feet and walked away from the deal at the last minute.

We also heard the buyers may not have been Canadian after all, but Russian. Which makes a lot more sense if you think about it.

Remember kids, you read it here first.

44 comments:

property pimp said...

Mama......... hello? I think I need an email here. my source was good.... or is this a second back out? I feel vindicated.... and wheres that paddle, i have been waiting all day

Anonymous said...

I knew it was BS. No one will pay $68M in this market.

average joe said...

I wonder if when they saw their purchase on the blogs and the news they said F**** it

One thing I do know, if you sell a place to a star or a mogul esp an ultra rich one, you and all of those in the deal need to keep your mouths shut until the check has been cashed and the new owners have moved in, I guess the realtors will never learned from the madonna episodes ............

remember loose lips sink ships, or kill uber deals such as this one.....lol

I wonder who is going to get sued over this one.

Anonymous said...

Remember children, the rich do not like to lose money. The rich like losing money less than do the middle class or the poor. It's not only a money issue, it's the issue of not being a fool.

property pimp said...

well, first off, what does average joe, know about the super rich?, my source (that was questioned, but now appears to have been right on a week ago,) was that the deal fell through because they wanted to change the design of the house so it was more modern in design and that the experts brought in, nixed it....... ...)and joe.. come on, because a much of us.. non billionaires are chatting back and forth about what these people buy or do , ha, do you think they give a crap? that does not kill deals. talk is not what killed the madonna deal either. you need to check your sources.

Anonymous said...

Property pimp,
Please share how you feel you've been slighted. You are usually very specific.

Anonymous said...

Property Pimp,
Is everything ok?

Anonymous said...

Ms. PP was slighted because we didn't gather 'round like good chilrin, sit crosslegged resting our chins on our hands to listen intently to her clearly superior intellect.

I hope it turns out the house did sell afterall.

Anonymous said...

come on...don't be a jerk...you want to PP to be wrong just because you don't like him. but that would mean Mama was wrong too and that's just disrespectful to all Mama's efforts.

Fancy Realtor said...

This is what I hear too...there was a deal for a huge amount of money. It didn't happen. Deal die. It happens.

No one is going to be sued Av. Joe, although I think that would make you pee your pants with joy.

As far as the rich losing money, in general you are right by my experience. But, these new billionaires out of Russia don't seem to give a shit about losing ten or twenty million...the money is too new, too easy, and too plentiful for them to care.

Girl at the bar said...

Well hello Vladimir,yes I'd love another double.

l.a.guy said...

Maybe they found out their property tax bill was going to be somewhere around $850,000 a year and backed out. I mean holy shit! I don't care how rich you are that's a lot of dough to cough up every year.

sandpiper said...

Girl at the bar,
My treat, double Drambui on ice all 'round.
(In reality, I'm enjoying a pint of Beck's Dark.)

lil' gay boy said...

Isn't this the point where all the pundits come crawling out from behind the baseboards wailing, "See! I told you so!"

Alessandra said...

Well, that explains why Nancy Daly is still on title...

Anonymous said...

I think I could be best friends with...
"Girl at the Bar"
&
"Sandpiper"

Anonymous said...

Thank God for Girl at the Bar...I'll have a Pink Squirrel. Pronto. 2 snifters of Grand Marnier 150 if you can name the ingredients
Peace
Joel

lil' gay boy said...

Girl at the Bar,

Please make mine a Johnny Walker Blue Label.

We love you.

Anonymous said...

anon 6:19, Mama is a class act and is always careful to avoid stating items as fact until she knows for sure. This is not the case with Ms. PP.

Anonymous said...

I was just on themls, I am looking to buy a place in the hills on doheny or sunset plaza , it looks like the sellers are adding 2MM to their prices ??? what the F****

Do they know something that we don't know ? are they in denial ? or are they going for broke ? example a few 4MM places on the birds street 2 months ago and they are still on the market, the sellers just added an extra 2MM to those properties, I wonder if they are taking the dollar decline into account and that is why they are raising their already outrageous prices...... they are Frank Lloyd designed, I wonder if his name adds significant value to a home ?

Anonymous said...

it's all wishing prices that the market will not bear. carrying costs for these monsters bring even the "rich" to their knees after a while. just ask michael jackson or the widow hearst.

Anonymous said...

well they sure are being D**** about it, I made a offer of 1MM cash on one of them and the agent called me a moron and hung up

LA Ad Guy said...

Hey PP, now that Ms. Nancy is still ownin that purty beach house and we take a break and wait for the next buyer scoop, can you give us the 411 on what happened with she and Dick? I've not heard any goss and I'm way curious. Thanks, and I believe you, btw...

Anonymous said...

Mama
we need a good dose of the
HAMPTONS
about now.

Anonymous said...

Last year there was a Russian buyer offering silly money to Peter Morton - probably the same person ... His realtor was Stephen Shapiro.

Anonymous said...

Drop your Armani briefs, P.pimpy, time for the paddle!

caveman said...

i nominate mr french to deliver todays beatdown with his big splintery spoon.

lil' gay boy said...

Anon 11:46,

Frank Lloyd Wright's name (or his son, Lloyd Wright, for that matter) will add value to a home (Joel Silver collects them like other collect cars).

The only FLLW place I know of that might be for sale in the area is the Freeman house, which is in a terrible state of disrepair.

Anonymous said...

LBG, Freeman House has belonged to USC for many years. It was once in a terrible state but has been undergoing renovations. Much of the work (like Ennis House) needed was structural so looking at the house from the street or Highland below would give a mistaken impression that the house is in disrepair.

The only privately owned FLLW homes in Los Angeles are Storer House (formerly owned by Joel Silver), Millard House (La Miniatura) in Pasadena, & Sturges House in Brentwood. Pearce House is located just a bit away from Los Angeles in Bradbury.

Someone is just starting the day by testing Mama & the childrins patience and good nature.

West Coastian said...

Pink Squirrel

1 oz creme de noyaux
1 tbsp white creme de cacao
1 tbsp light cream

Shake all ingredients with ice, strain into a cocktail glass, and serve.

Cheers and I'll take that Grand Marnier please.

Anonymous said...

anon 1:05, if you offered me 1m "cash" for a 4-6m listing, I'd call you a moron and hang up too.

The only difference offering "cash" would be that you don't have to qualify for a loan. That is a benefit to you, not necessarily the seller.

The seller gets "cash" regardless whether it comes from you or the mortgage company.

Now if you offered 3m on a 4m listing that had been langishing on the market, already had your loan because you were doing a 33% down (the 1m cash), that might keep an agent interested.

Alessandra said...

The advantage of all cash in a tight lending market is that the seller doesn't have to worry about the buyer's last minute funding problems. But $1mm cash for a $3-4mm house? I'd hang up, too.

lil' gay boy said...

Anon 8:15

Thanks for the clarification; I've been to all of them except the Pearce House; it's in a gated community, isn't it? All I remember is that I could not find a way up onto the ridge where it sits.

Thought USC had sold the Freeman House because no one seemed to want to put the money into it.

Did not know Joel Silver sold the Storer house (only one besides Ennis I did trespass on!)

La Miniatura has been undergoing restoration for what seems like decades; I understand the studio, done by Wright son, is finally complete, but work on the main house is still ongoing.

And of course the Barnsdall house is a public park; when did they tear down the second studio building?

Anonymous said...

West Coastian...It's all yours! Talk about an old fashioned cocktail.
Peace
Joel

caveman said...

me thinks anon 1:05 got the responce he was looking for & it was funny.

Anonymous said...

LGB,

I haven't tried to get to the Pearce because always heard it was in a gated community. I'm also not a big Usonian fan so it doesn't hold the same appeal for me.

Silver sold Storer (say that fast 5 times) a few years ago. It sold to a couple, her first name is Jennifer, don't recall the last name off the top of my head. Silver has (or had) a Ricardo Legorreta house in Brentwood as well as a Malibu house on a double lot about a block from the much discussed Lautner Segal House. I'm not positive but think the only FLLW he currently owns is Auldbrass Plantation.

I was fortunate enough to have a private tour of Freeman with Robert Timme (Dean of the USC School of Architecture) in 2004. He was Freeman House's biggest supporter and spent over 90 minutes (it is a tiny house) telling us of the restoration progress, plans and history. Unfortunately, he passed away in October 2005. I have since been on a MAK tour of the house where it appears progress is slowing without someone like Timme to push it forward.

All the early FLLW houses in So. Cal. other than Storer seem to have suffered from extended renovation projects. I understand those involving public funding but have to wonder about the private homes like La Miniatura and also the person who was working with Eric Lloyd Wright to finish Arch Oboler in the hills above Malibu.

average joe said...

Well there is no way I would pay 4, 3 or 2 million for a 1MM place that was listed for that, a million in 2003, no way, I will wait and I am sure I will see that realtor very soon out modeling/stripping, waiting on tables or selling cars........ then I will have the last laugh

then again I could be wrong, CNN today said that now is the best time to buy a house, they are at their lowest prices in 4 years....... I wonder if I could sue CNN if they are wrong ?

Anonymous said...

Joe, PP, whomever. You are a PIG.

lil' gay boy said...

Anon 2:38,

Do you know what kind of progress they've made on Eaglefeather, the Obler residence? That's another one I never made it to. I understand it sits on a large property in the hills of Malibu. Other than the gatehouse, retreat and modified stables, has there been any other construction done there?

Last thing I heard, a while back, is that there was going to be an attempt made to construct the main house based on modified plans of the original, somewhat scaled back.

Have been to the Sturges house in Brentwood, what a gem. Is it still owned by Jack Larson? Is he even still alive?

Anonymous said...

caveman - good we could help "anon 1:05". don't want him wandering the streets thinking all brokers are a**holes because they laughed him out of the office. besides, jan horn already has his one troll fanclub.

Anonymous said...

LGB, They are working out there but seems like at a snail's pace. Eric Lloyd Wright worked with the new owner to come up with a new design that compliments his grandfather's original plan. I guess there were some major flaws to the original design such as a 100 foot walk from the kitchen to the dining room.

All that was built originally was the foundation, the gatehouse, stables/garage and Eleanor's Retreat. The gatehouse & stables/garage were converted into a much smaller house that the Obolers ultimately lived in - with the foundation of the large house poking off in two directions.

I was last up there in December and the Retreat had been stripped to the framing, the stables/garage had been leveled, and grading was being done around the foundation. That isn't a lot of progress considering it had been 2 years since hearing Eric describe the new plans.

The location is amazing. Very remote and private. I seem to remember hearing it is 100 acres but I could be wrong. The house is near the road (Mulholland Hwy), a small canyon dips out behind the house towards the view with a pond/small lake at the bottom. Eleanor's Retreat is to the left up a fairly steep hill on a promontory.

I think Jack Larson is still alive, don't know if he is still in the house. He would be 80.

Old Hag in a house said...

Well I'm still alive damn it and it's my house.Get lost.

lil' gay boy said...

Anon 7:00

Thanks for the update - great info. As I seem to recall the original plans called for the stables to be temporary structures anyway, but it's nice to know that some work is being done, especially on the retreat (what a gem!)

Old Hag in the House:

I think you've wandered into the wrong residence again; that bitch of a daughter was asking if you'd taken you meds . . .

Anonymous said...

yum pink squirrel