Wednesday, July 18, 2012

Up In San Francicso...

...scuttlebutt on the real estate superhighway is that tetra-gajillionaire Larry Ellison has tasked a few of his '"people"' to inform a few of the more savvy Real Estates who work the streets of San Francisco's Marina District that the spendy Oracle founder might be willing to drop a yacht-load of money for a few well-located houses that are not currently on the market.

So the rumor goes on the San Fran-centric real estate blog SocketSite, the Real Estates were to provide Mister Ellison's so-called '"people"' with a few names of property owners who "might be willing to accept an offer they can't refuse."

Presumably his (alleged) desire to snatch up properties in the Marina District has something (or everything) to do with San Francisco being the host city for the finals of the America's Cup yacht racing extravaganza, due to storm waters and streets the city for two weeks next September (2013).

We don't know a manhole from a garden house but Your Mama can imagine the yachting aficionado—who already owns a very large and very contemporary mansion with sweeping (if a wee bit obstructed) view of the San Francisco Bay 10 or 12 blocks away in Pacific Heights—wants closer, more convenient access for himself and his VIP guests to the water front, some where along which the Oracle-sponsored racing fleet will be parked and plucked and waxed and/or whatever one does to keep a brutally expensive racing vessel looking like like fast-moving perfection on the water.

Mister Ellison could probably save himself umpteen millions and hassles by offering ludicrous sums of cash to rent their homes for the duration of the regatta (or whatever such yachting festivals are called). But this is a man whose personal property portfolio is easily valued at a quarter billion dollars or more considering the recent rumors he's agreed to pay upwards of half a billion dollars for the entire Hawaiian island of Lanai. Renting is not how this trophy property collecting tech-sector tycoon rolls.

10 comments:

Anonymous said...

"worth quarter million dollars or more" Mama you crack me up!

WrteStufLA said...

"But this is a man whose personal property portfolio is easily valued at a quarter million dollars or more..."

Mama, did you mean a different (much higher than $250,000) amount?

Anonymous said...

Mama, any news or info about Larry Ellison's new mega-mansion he's building in Bel Air? Right next to Salma Hayek's house. it's been under construction for awhile now.

Rugby E. Root said...

Or, maybe he wants to build a small Cotswalds village from the 14th century in the middle of downtown SF. Who the hell knows?

All I know is that one of the least interesting tech billionaires this side of Bill Gates has recently become one of the most interesting real estate players in the country.

Thanks for keeping us informed, Mama!

Anonymous said...

What is wrong with this man? How many mansions and how much property do you need? When he dies he can't take them with him.

Ellison, take a cue from Gates, do something useful with your life that helps others.

Anonymous said...

"We don't know a manhole from a garden house....."

Well Mama, I find that just a bit hard to believe..... We'd bet you've had an experience or two with the former....

Anonymous said...

Regarding the house being built in Bel Air, Michael Bay is building on the old Jorgensen site. The lot behind Hayek's house being built on, but I'd hardly call that house a mega-mansion.

Anonymous said...

It appears that way because half of it is going to be underground. He's keeping it low, sprawling, and ultra-modern. I wonder if Megan will move in there if she tires of Bird Streets?

tess matsuoka said...

Regarding 965 Bel Air Rd., right you are, that is LE's new house. All I have been able to glean is that it is recently finished (or nearly finished). Do you have any word on the architect or any additional info?

Anonymous said...

965 is Michael Milken's, I think.