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Now comes word via the L.A. Times that the new owner—identified in the property gossip columns as a French billionaire even as some speculate might actually be L.A.-based junk bond billionaire Michael Milken—has put the elegant if pretentiously palatial chateau up for long-term lease at $400,000 per month plus an elephantine $1 million security deposit just in case the tenants scratch up the antique floors or put a hole in the gilt-trimmed paneling.
All together the estate—main manse, pool house, staff quarters, caretaker's house, etc.—has about 50,000 square feet of lavish living space on nearly five fastidiously manicured acres.
As preposterous as $400,000 per month sounds to rent this or any other house it's child's play compared to the $600,000 per month financier Leonard Ross wants for William Randolph Hearst's former Beverly Hills estate known as Beverly House that, not so surprisingly, returned to the market for sale in the wake of the Fleur de Lys sale with an astronomical $135,000,000 price tag, down from its original $165 million asking price.
listing photo: Pacific Coast News
14 comments:
$400k isn't a bad deal for this. The tenant will probably be a billionaire with an annual income of at least $50m. The rent would be only 10$ of their income. How many of us get to spend only 10% of our gross on housing. They could have this place, plus 3 or 4 other places around the world and still only pay 30% of their gross on housing. I wonder if the price includes furnishings, maintenance and staffing? High living for low risk. This could be very attractive to someone like a Hearst who, famously, has a generous allowance but can't touch the principal.
~that's 10% not 10$~
I thought you would cover the Beverly House.
It seems that it has a mountain of problems.
They are, it appears, so big that it would be cheaper to demolish the house than to renovate it.
honestly I would be much more into
9505 Lania Lane, in Beverly Hills Post Office
http://www.theempressofdress.com/2013/03/29/9505-lania-lane-jeff-greene/
Whatever happened to Suzanne's other property, the equestrian Hummingbird Ranch in Simi Valley?
I know Joyce Rey used to have it on her website.
Where does she live now?
Wow, West Bourne is an idiot
What billionaire only makes $50mil a year?
And since when is 400 ten percent of 50?
Sad that so many people are so..dumb
The DAILY interest on one billion is about 375K
Suzanne's daughter Stefanie still lives at the Hummingbird Ranch, so I guess that's where Suz stays as well.
I'd love to see the floorplans of this "house" cause I can't figure out where the ballroom is situated.
Isn't anyone just a bit curious as to why would someone drop 100+MM on a house only to immediately flip it onto the rental market?!?
I think the ballroom is in the basement, on the pool side of the house.
I think the silver sitting room is above it.
Judging by pictures
Hey 'Anonymous' - Check your math before you throw the term 'idiot' around. A 5% normalized rate of return after inflation and tax is about the best a billionaire (or anyone else) can hope for. Plus, 400k is not ten percent of 50m - 12 x 400k is 10% of 50m. West Bourne is correct - and you are an idiot.
Try to ignore Anonymous 6:26, just another troll lurking about.
I for one am dying to know who bought this place only to lease it out?! Doubt that $400K a month would cover much more than the property taxes and maintenance. Pure insanity.
Didnt Sapperstein rent it out for functions?? Very interesting if the new "buyer" is also but for longer periods of time. Hmmmm
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