Thursday, June 16, 2011

UPDATE: Candy Spelling

Listen kids, rumors just keep rolling in as regards to the alleged and reported sale of The Manor, showbiz widow Candy Spelling's bloated mansion in the Holmby Hills area of Los Angeles, CA famously listed for years with an elephantine asking price of $150,000,000. We hate to turn the heat on or question the reportage of any of our far more accomplished confrere and compatriots in the real estate gossip game but Your Mama hears that all that has been reported–specifically the identity of the (alleged) buyer–is not accurate.

The story broke when the esteemed Wall Street Journal reported that Miz Spelling's massive manse was acquired by glitzy socialite heiress Petra Ecclestone. Twenty-two year old Miss Ecclestone, who reportedly splashed out more than $100,000,000 for an historic house in London last year, hails from the loins of a 6'2' Croat model who mated with 5'2" international playboy and billionaire Bernie Ecclestone. The odd couple were divorced in 2009 after nearly 25 years of marriage with a settlement that reportedly pored hundreds of millions of dollars into ex-Missus Ecclestone's coffers. Mister Ecclestone's four and some billion dollar fortune derives mainly from his involvement and investment(s) in Formula One racing.

Anyhoo, back in Tinseltown, after getting wind of the alleged sale–like everyone else we first read about it in the WSJ–Your Mama immediately queried a few of our better connected sources deep inside the walls of the high end real estate fortress. A trusted and usually exceedingly well-informed informant got back to us immediately saying somewhat cryptically that the buyer is not young Petra or even Daddy Ecclestone but rather one of the world's top 8 or 10 wealthiest men. Eccentric Mister Ecclestone, puppies, is filthy rich by any standard but his approximately 4.2 billion bucks brings him in at only #254 on the list of the world's wealthiest individuals compiled by each year by Forbes. That's downright impoverished compared to the tiny group of men (and one woman) who rank among the top 10 richest people on the planet.

Gossip juggernaut TMZ next revealed that the young and materially indulged Petra's first choice for a Los Angeles pied a terre was not The Manor but Fleur de Lys, couture clad divorcée Suzanne Saperstein's palatial Beaux Arts-style behemoth a few blocks away, listed at $125,000,000. For reasons not reported, Petra and her people were unable to secure Fleur de Lys. Instead, so the story goes, she settled for her second choice and agreed to pay Miz Spelling $85,000,000 for her 56,500 square foot faux-French chateau-style pile on 4.69 manicured acres that includes such necessities as a 3,500 square foot closet with motorized racks, a 17,000 square foot warehouse-like attic, 27 terlits, flower cutting room, doll museum, two-lane bowling alley, parking for 100-plus cars, extensive staff quarters, tennis court and swimming pool, barber shop, beauty salon and not one but several gift wrapping rooms.

Here's where Your Mama's wrench hits the fan: Two sources–one we trust implicitly and another to whom we've not previously communicated but appears to be in a position to know–have repeatedly insisted the buyer of Miz Spellings white elephant isn't Petra Ecclestone.

Although neither our Your Mama's people would–at first–name names, deeper investigation and questioning of said sources pointed towards Indian steel tycoon Lakshmi Mittal, number six on the Forbes 400 list with a porcine fortune that runs up to a truly staggering $31.1 billion. The fine folks over at Curbed even speculated that the buyer might actually be Mister Mittal who in April 2004, interestingly and incidentally, paid little ol' Bernie Ecclestone £57,000,000–approximately $128,250,000 at 2004 conversion rates–for a lavish 12 bedroom mega-mansion on the impossibly expensive and guard-gated Kensington Palace Gardens enclave in central London.

Alas, Your Mama's sources now snitch it ain't Mister Mittal who snatched up Miz Spelling's hulking real estate seconds but rather Mukesh Ambani, another mega-billionaire from India. As recently as 2010 Forbes calculated that Mister Ambani was among the top five wealthiest individuals in the world but his still unbelievably vast fortune, derived mainly from oil and gas, has dropped to 27 billion, which put him at number nine on the Forbes list as of March 2011.

Given that Mister Ambani–a Stanford University drop out, dontcha know–is a real estate size queen of the highest order it really isn't much a surprise he'd see a 123-room mansion in Los Angeles as a pied a terre. This is the man, after all, whose family has since the 1970s called Seawind home, a 19-story tower in Mumbai's upscale Cuffe Parade neighborhood. This is also the same man who (in)famously spent upwards of a billion dollars to custom design and build his family a recently completed mega-mansion in Mumbai in the form of a 27-story tower called Antila. That's right, the Ambani's live in a 27-floor tower used exclusively as their private residence. The Ambani's cantilevered tower-manse–which looks an awful lot like a stack of books about to tumble over from a stiff breezeis said to include luxuries such as a 50-seat theater with wine bar, a health center with spa and gym facilities, multiple sky-gardens, parking for more than 160 cars (plus a private auto repair shop), three helipads on the rood (plus a private air traffic control center) and an ice room where the Ambani's can escape the Mumbai's stifling summer heat in a chilled room outfitted with a contraption that makes it snow...inside the room.

Listen kids, we're just passing along the scuttlebutt as we hear it. That means until someone directly involved with the (alleged) transaction steps out to make an on the record statement, the property records clear or Tori gives Your Mama a ringy-dingy the exact details of the deal and the identity of the new owner remains, technically, in question. That said, don't be surprised when it comes out that Petra Ecclestone has never even put a Brian Atwood stacked pump inside The Manor. We are not, mind y'all, saying that Miss Ecclestone hasn't visited Candy's crib. Maybe she has, maybe she hasn't. What we're saying don't be surprised if it comes out that she's never laid eyes on the mansion.

Stay tuned, children, because it seems this real estate fairy tale isn't quite at its close.

photo: Pacific Coast News

22 comments:

Footie said...

Does anyone know how much the Spellings paid for the land and estimate of the cost to build The Manor?

Anonymous said...

If Ecclestone is not the buyer, you would think she would have held a Press Conference by now to deny it.

As for the (2) Indian Billlonaires...don't recall them hanging around Los Angeles in the past.

Whoever bought the place, they are doing a good job keeping it under wraps.

Anonymous said...

Mama, let's get one thing straight right here and now. Nobody, but nobody is "more accomplished" in the real estate gossip game than you. So let's not have any more of this false modesty in the future, ok? I know it becomes the top banana to feign great modesty, but sometimes one needs to toot one's horn too. So ifn you won't, I'll toot it for you.

chris said...

Tangential comment: has anyone else noted that the stinking, filthy super rich of the developing world all seem to come from India or Russia, and not from China? I wonder why. Could it be that with a "communist" government, China's super rich find it wise to be a bit less public about their wealth?

TH said...

Could be eike betiste. May have spelled that wrong. Could also be Carlos Slim. Seems he keeps his real estate deals very private. Then there is the Ellisons. He bought 8 properties in malibu and does own the worlds largest yacht. However Mr. Ellison and French don't mix. It also doesn't mix with his daughter's tastes. For a while I considered Elaine or Steve Wynn. Heard one of them looked at Manor during the last 6 months. Oh well . . . sure can't wait to find out who ends up with it! Will probably be one of the Indian billionaires you discussed.Maybe that one whose daughter had the most expensive wedding in history!

Anonymous said...

I said in the previous post it wouldn't be Ecclestone. She doesn't spend time in LA, she's always lived in London.

Same goes for the Mittals ... they live & work in London, don't spend time in LA.

Ambani is based in Bombay, why would he want a house in LA? It's not a known destination for wealthy Indians compared to London for example.

I'm really not sure, I don't believe any of these suggestions.

Anonymous said...

Carlos Slim, Not that flashy!!

Suzy said...

Well, at least we can rest easy that whoever bought or buys it will never have to worry about gift-wrapping facilities. Whew, what a relief.

C-N said...

Like i told everyone in the first Post a few days ago. The Buyer is in Fact "MUKESH AMBANI" whom after a small Sell_off of his Estate holdings and steel corp will jump to #2 or #3 on next year's Forbes Rich List, right behind Carlos Slim and Gates. He is also on the verge of Spending another $488,000,000 for the New AIRBUS 380. Which is the largest plane in the world and can easily fly him from India all the way to L.A Direct. To convert the plane into a Private Jet will cost more than $200M alone. So as you can see, $85,000,000 for the Spelling House is a Drop in the bucket. This Man will Spend more on his Private Jet Interior's. C-N

tovangar2 said...

Hey Footie, The Manor cost $12 million in 1988 dollars when it was built. Dunno about the land. Here's the Wiki page:
http://en.wikipedia.org/wiki/The_Manor_(Los_Angeles,_California)

Anonymous said...

It's not Carlos Slim. Carlos Slim already has a US base...the Duke Semans mansion in NYC.

I'm certain this was purchased by one of the richer Indian tycoons!!

Anonymous said...

It's most probably Mr Ambani. The house is tacky (and big enough) for the extended Ambani clan. These people like to live with grandmothers, children, aunties, uncles and the family goat. There is more than enough space here for all their tackly little trinkets and persian rugs. Don't be surprised if they paint the whole thing pink with baby blue detailing. These people have no taste, just money.

Anonymous said...

I wonder what happened with the architect, James Langenheim... And whether he is the same person who took part in LA airport design...

Anonymous said...

Here's a nice film of a tour Candy gives around the Manor:
http://shine.yahoo.com/event/haven/famous-haven-inside-the-candy-spelling-manor-1005341

midTN said...

If the buyer of Ms. Candy's house is Mukesh Ambani, then it certainly is a step up in his taste in real estate. Which isn't saying much.

The Spelling manse is so over the top it makes even my skin crawl, but after seeing that God awful pile, (of books), tower home Mr. Ambani built in Mumbai, the Spelling mega mess looks like Versailles in comparison. That 27 story Mumbai tower is one of the most horrendous creations ever erected on Earth.

Anonymous said...

http://www.brettlawyer.com/8935-Wonderland-Ave-a182810.html

Lord Snooty said...

TMZ has learned Greasy Bear -- the ne'er-do-well grandson of the late oil mogul Marvin Davis -- was instrumental in the sale of Candy Spelling's mansion.

Here's the way it went down. Brandon was at a Hollywood nightclub on April 27, partying with Petra Ecclestone -- the 22-year-old daughter of billionaire Formula One mogul Bernie Ecclestone -- when she told him she wanted to buy a HUGE house in L.A.

Brandon sprung into action, hooking Petra up with realtor/Paris Hilton's father, Rick Hilton. Sources tell TMZ, Rick made a deal with Brandon -- to give him a $250,000 finder's fee if Rick could sell a mansion to Petra.

So Rick then showed Petra Fleur de Lys -- a huge mansion in Holmby Hills. She offered $85 million. But then the seller started making demands, saying she wanted to keep this statue and that statue. Petra was fine with it, until the seller demanded an additional $700,000 to cover her moving costs.
Petra said sayonara to Fleur de Lys and Rick took her to Candy Spelling's 57,000 square foot mansion in Holmby Hills ... near the Playboy mansion. Sources connected to the sale tell TMZ ... the deal was sealed at $85 million -- ALL CASH. And get this -- Rick not only represents Petra, he also represents Candy, so he scored one of the biggest commissions for a realtor ever.

But there's still this little issue of paying Brandon the $250k. We've learned escrow on Candy's mansion will close in 2 weeks, but Brandon -- who became really famous because of his "FIRECROTCH RANT" targeting Lindsay Lohan -- can hardly wait. You see, the night he talked to Petra about buying a huge mansion, he got in a fight outside the nightclub and was arrested and charged with cocaine possession.
The guy who got into the fight with Brandon is threatening to sue him, and Brandon needs the $250k to settle the dispute.
We love happy endings.

Anonymous said...

^^^If what you are saying is true, then Greasy Bear is one stupid SOB. So, he'll be at a negative zero dollar wise after he pays off the dispute?

Dumbass should have at least asked for 750K and negotiated from there. He would have ended up with more than 250K. And kept the whole thing "on the low".

angie said...

I'm starting to think the numerous stories being floated around about the sale of this property are part of a concerted effort to publicize the higher end west LA real estate market for free.

Anonymous said...

hey dbag
well well.... i call u you out re your sources and intel and u dont publish my message! i know who u r! here endith the lesson! now it's on mother fucker!!!!!

Anonymous said...

The property was purchased for 10,250,000 according to

http://paradiseleased.wordpress.com/2011/01/20/the-ghost-of-mansions-past-a-prehistory-of-aaron-candy-spellings-mammoth-manor/

Sarah Cohen said...
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