Thursday, November 7, 2013

Megan Ellison Sells Three in The Birds

Between February 2008 and February 2011 software heiress turned increasingly influential movie producer Megan Ellison snatched up three pricey properties on the same elbow-shaped cul-de-sac in The Birds, a spendy and perennially en vogue neighborhood in the mountains directly above L.A.'s bustling and also perennially en vogue Sunset Strip.

Miss Ellison, a wee lamb of 27 years, purchased her first nest in The Birds—the one one the far right in the publicly available aerial image above—from designer Steve Hermann in February 2008 for $12,600,000. The following April (2009) she picked up the property next door, which had also been re-worked by Steven Hermann, from media mogul Byron Allen for $6,250,000 and, finally and somewhat inexplicably, she scooped up the property next door to that in February 2011 for $13,750,000.

A few quick clicks and clacks on Your Mama's bejeweled abacus reveals that young Miss Ellison shelled out a total of $32,600,000 for the houses that are all walled, gated, and very contemporary with vast walls of glass and unobstructed panoramic views over Los Angeles that extend, on a clear day, to the Pacific Ocean and, on a particularly clear day with binoculars, Santa Catalina Island.

In early August, as Your Mama discussed back in mid August, Miss Ellison quietly one of her three Bird Streets properties—the last one she bought for $13.75 million—in an off-market deal to high-tech billionaire Ted Wiatt for $20,500,000. Now comes word, children, that in late October Miss Ellison surreptitiously sold her two other Bird Street properties, one went for $15,375,000 and the other—the one in the middle that she bought from Byron Allen—for $10,875,000.

A few more quick flips and flicks on the abacus shows that, just like her property-hoovering real estate baller father, Miss Ellison has the Midas Touch when it comes to residential real estate. All together Miss Ellison took in a mind-melting $46,750,000 on the sale of the three properties for which she paid a total of $32,600,000. Even those with the most rudimentary of mathematics skills can quite easily determine that lucky lucky lucky—or savvy savvy savvy, depending on how you see it—Miss Ellison's profit came to $14,150,000. Your Mama imagines that even after the upkeep and improvement expenses are subtracted and the taxes and real estate fees paid—with standard 4-6% commissions the real estate fees all by themselves could have easily topped two million clams—Miss Ellison will still walk away with a few million dollars. Not bad work if you can afford it, right?

As if her low seven figure profit (less expenses) weren't enough to boggle y'all real estate minds, stay tuned because here's where this ditty veers towards mind blowing. As previously mentioned (and discussed) Miss Ellison sold one of the properties to billionaire Ted Wiatt. Property records show she sold the other two for a combined $26,250,000 to the same foreign buyer who used a couple of opaque and unimaginatively-named corporate entities with links to offices in Beverly Hills and Monaco to acquire the residences.

Naturally, being the property gossip we are, Your Mama did a little asking around and it wasn't long before our much-appreciated informant Peter Propertyseller pegged the foreign buyer behind the corporate entities as Ashley Tabor, a 30-something year old Englishman and budding media mogul who happens to be the son of billionaire bookmaker, horse breeder and real estate investor Michael Tabor.

The younger Mister Tabor may not be a household name for most tabloid readers in the U.S. but he's may be remembered by the hoi-polloi as the fella who (reportedly) paid Rihanna $2 million to perform at a party last year at the super-posh One Sandy Lane resort in Barbados. The resort, it should be noted, is owned by the elder Mister Tabor and is where celebrity real estate rumor has it native Barbadian cum global pop-priestess Rihanna recently plunked down $22 million for a lavish townhouse mansion. Anyways...

According to Peter Propertyseller, Mister Tabor (the son) intends to raze both residences as does Mister Wiatt. Keep in mind that two of the houses, those on the ends, are less than five years old and the other, the one in the middle, had a down-to-the-studs renovation in the mid-Aught. They are, effectively, nearly new houses. So, if all that's true–and we have no reason not to believe what Peter told us—Misters Tabor and Wiatt together paid nearly fifty million dollar for just the land, much of which is just too steep a slope as to be usable, and will likely spend—what do you think, kittens?—at least another ten or maybe $15 million on construction of new homes?

That, children, is how the world's sickening rich super-rich sometimes spend their oceans of disposable income.

Miss Ellison actually owns a fourth house in The Birds—purchased in late 2011 for $1.8 million, gut renovated, originally listed for $3.75 million, currently listed at $2.99 million, and somewhat curiously in escrow since April (2013)—and in May 2013 she dropped $2.8 million for a wildly idiosyncratic one bedroom and one bathroom apartment at the coveted Police Building on the border between the SoHo and Little Italy 'hoods. We're not the betting type but iffin we were Your Mama would bet both our long-bodied bitches, Linda and Beverly, that Miz Ellison will acquire at least one more apartment in the storied building.

P.S. Peter Propertyseller also snitched to Your Mama that Miss Ellison plans (or may be in the process) of acquiring commercial property in L.A.'s still-kinda-gritty but terribly chic and terrifically expensive Venice community to house her film production offices. He also told us he's heard she's in the market for a new L.A. home in the $20 million range. Rumor and gossip, kids, rumor and gossip.

aerial photo: Bing

22 comments:

lil' gay boy said...

At least she flips them for a decent profit -- I wouldn't be surprised if daddy still had his first bungalow...

;-)

Anonymous said...

It's well-known around town that Megan is a fish lover.

Rosco Mare said...

Dearest Rabbi, this child needs your infinite enlightenment.

Candy Spelling said...

I agree with Rosco Mare about 4:54. Rabbi Hedda, please come quickly.

Anonymous said...

Man the mega rich really like to overpay and out do each other...they hate taxes but will outspend each other on their own indulgence

Anonymous said...

Confidential to Rosco, Candy, and Anonymous 4:54 p.m.:

The Rabbi believes through self-expression of chesed, compassion, we encourage our friends to internalize binah, understanding, and relocate when necessary from the limiting real estate of mitzraim, narrow places, to new annointed homes with far-reaching wings of mimshach, expansion.

Rabbi Hedda LaCasa

penelopebianchi said...

I don't get the "rabbi" jokes......

but I must say.....Miss Ellison learned at the father's knee......real estate values! buying all three....very smart.....and they were "scraper" houses....(just my opinion!)

Not quality or great architecture!

Good for her!!!

Penelope

penelopebianchi said...

Anonymous.....November 7; 10:23!!

Please turn on spell-check! You are a disgrace! Pathetic!

I really think "anonymous" should not have their comments posted. Just my opinion. If you cannot own your comment......oh well.

doug-g said...

@penelopebiachi

The "Rabbi" is no joke and often speaks Hebrew and/or Yiddish (as many of us do). The Rabbi is a frequent commenter and is always welcomed and appreciated by me (and I think most).

"It's well-known around town that Megan is a fish lover"

I would hope not shellfish! Perhaps the Rabbi could work with Megan on this...

Anonymous said...

Megan Ellison is a legend with posh pictures.

I must join on 10:23 confusion. This person might tip a few before blathering google jabber. Skip her as I do.

lil' gay boy said...

Penelope,

I must express surprise & dismay at your narrow perception -- our beloved Rebbe has always sought to teach & enlighten us goyim on the wonders of Yiddish & Hebrew (and we New Yorkers might just be barred from entry without at least one or two good Yiddish words like shmuck & shtup)...

;-)

I had no idea Montecito was so cloistered; it saddens me and makes me think twice about it being such a desirable neighborhood (your obviously creative presence notwithstanding).

Please reconsider enriching your live with such uniquely expressive, beautiful lexicography.

Anonymous said...

this blog used to be easy reading with personality. now its difficult to read and dull. please hire a writer that can return to the style of the original writer from 6 years ago.

Anonymous said...

The Reason the Swallow Drive House is stil in escrow is because she excepted two offers one higher (the later) from two people without cancelling the first. Now both buyers are suing her BIG MESS OH MY! Gurl don't be greedy! xxoo

Anonymous said...

Thanks for the anonymous insight re: the 4th house. Sounds about right.

BTW, penelopebiachi, calling these 'scraper' houses is incredibly naive.

-Philip Themholes

Anonymous said...

The Rabbi regrets that her limited facility with English, along with Mama's masterful command of same, has incited strife among the Kinderlach. Now all of us have been disinvited to Candy's Sunday brunch, beach house soirée.

The Rabbi wishes Mlle Ellison parnusus, ethical financial success, and prays that Messrs. Tabor and Wiatt will erect feng shui-friendly homes. She will now disable google, look forward to a Manischewitz toddy or three, and anticipate a return to civil celebrity real estate discourse, post-Shabbos.

Hedda LaCasa
The Rabbi

Sandpiper said...



I hear the wooden spoon drawer opening.

Anonymous said...

Mama isn't really someone with a masterful command of English, is she, Rabbi?

Note for example the missing comma before the unrestrictive clause in her description of where Meredith Baer spent her childhood.

But Your Mama isn't really The New Yorker's copy-editor desk, is she?

I hate The Birds. It is awful. I have no idea how someone can love the neighbourhood and that particular style of architecture, that 'mid-century modern' or whatever it is called. Awful. Inexplicable.

Anonymous said...

I bet she buys the Angelica Houston House in Venice to use as offices.

Vale Bresciani said...

hey everyone! I have a blog and I really don't want to bother you, I know it sucks to read this, but If you were in my place, you'll be doing this. I talk about CELEBRITIES, JUSTIN BIEBER, ONE DIRECTION, and everyone! If you love them , then be flexible, if you hate them, well, come here. THANK YOU!

Anonymous said...

^^^^ FUCK OFF SPAMMER!

Sandpiper said...

These numbers are fascinating. Good for her.

Anonymous said...

Megan's a big dyke. Huge dyke. A real rug-muncher. Looks like a big lesbian mule.