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  • Recommended: Lawmakers cry foul as former pitcher strikes out with taxpayer funds
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  • 3
    hours
    ago

    Listing of the Week: New home for the 'Bachelorette'

    By Erika Riggs, Zillow

    Zillow

    Look familiar? This mansion was the setting for this season of "The Bachelorette."

     

    16424 Marvin Rd, Charlotte North Carolina
    For sale: $5,899,900

    For the first time in “The Bachelor/Bachelorette’s” lengthy span on ABC (since 2002), the popular reality show did not debut at the Spanish-style estate “Villa de la Vina” located in the Santa Monica Mountains of Southern California, but rather in Charlotte, North Carolina.

    Why the change in venue? Charlotte is the hometown of new Bachelorette, Emily Maynard.

    Since Maynard is a single mom and she didn’t want to take her daughter out of school, the producers were challenged with finding a home in Charlotte that needs to look good on TV and can hold up to the strain of housing a minimum of 25 eligible bachelors.

    This season’s Bachelorette home is a $5.89 million dollar estate in a gated community in Charleston. Not only is it private, set on five acres, but it has all the trimmings for creating romantic reality show moments.

    And, as listing agent Nick Peters of Peters and Associates points out, it has a ballroom.

    "There are beautiful houses all over," Peters said, "but this one has an official grand ballroom with a 20-foot-high fireplace made of solid marble. The room also has gold-glazed mahogany trim, silk window treatments and gorgeous lighting."

    An ideal place, if you watch the show, to host the dramatic rose ceremony in which The Bachelorette eliminates potential suitors.

    The Bachelorette home is a European-style mansion with stucco and stone exteriors. Boasting 12,000 square feet of living space, the 6-bedroom, 8.5-bath home has plenty of room for filming the show. The home features high-end finishes, and specifically a two-inch thick marble floor that runs from the home's entrance down its main hallway.

    Although the home's interiors are spectacular, most of the first episode of the show focused on the grounds of the property -- from a lawn enough to land a helicopter, to a slate courtyard with benches, intimate gardens, fountain and fire pit. The home also includes a saltwater pool with mosaic-tiled waterfall.

    Before ABC snatched the home for filming purposes, the property was listed for $3.9 million. The house was off the market while ABC filmed, but was recently relisted for a higher price.

    The higher price can be explained in the publicity that the house will receive over the course of The Bachelorette show.

    And it's not necessarily just the exposure, says Peters.

    "You can't really showcase a house with photos. I'll bring in a professional photographer, but the way that it shows on TV... it's breathtaking," he said. "You can't get that from a photo shoot."

    Built in 2006, the house has been on the market since mid-2008, first priced at $7.89 million. The home has had several price cuts, but with its new celebrity real estate status, the homeowners may have better luck selling.

    According to Zillow's mortgage calculator, a monthly payment on the Bachelorette home would be $21,424, assuming a 20 percent down payment on a 30-year-mortgage.

    Zillow

    This grand ballroom played host for the rose ceremony.

    ABC

    The men wait in the grand ballroom of the Charlotte home.

    Zillow

    The 5-acre property contains several outdoor living areas.

    ABC

    A lot of the interactions in the show took place on the grounds of the Charlotte home.

     

    Zillow Home of the Week: Bachelorette Mansion, Charlotte, NC

    See more photos of "The Bachelorette" house on Zillow.

    Related:

    • Rent the Home Used for ABC's The Bachelor
    • Lauren Conrad Trades Reality Show Home for Penthouse
    • Reality Couple Tori Spelling and Dean McDermott List Malibu Home

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  • 1
    day
    ago

    New York City parking spot goes for $1 million

    By Martha C. White

    In many parts of the country, a million bucks will buy you a mansion. In New York City, you can get a 12-foot by 23-foot slab of concrete. Yes, Manhattan's first $1 million parking space is scheduled to go on the market this fall.

    This seven-figure private garage is in an eight-story, prewar loft building in the city's Greenwich Village neighborhood. It previously had been converted into a parking garage and is now being turned into half a dozen new luxury condominiums, according to the New York Post.

    The parking space, dubbed "the city’s gaudiest garage" by the Post, will have a separate deed and sales contract. Based on an average 6 percent commission, this means a real estate agent could earn $60,000 — roughly $10,000 more than the median household income in the U.S. — for selling this parking spot.

    The largest unit in the building will be an 8,000-square-foot penthouse with a 3,000-square-foot terrace that will be listed for just under $39 million, the newspaper reported. Only buyers of that penthouse or another 8,000-square-foot unit in the building will have the chance to buy the parking space. In addition to the seven-figure price tag, the owner will be charged maintenance fees on the parking spot.

    So what does the owner get for a million bucks plus maintenance fees? Direct street access thanks to a curb cut in front of the garage door, along with 15-foot ceilings. The ceilings are high enough that the spot can be "duplexed;" that is, an elevator can be added so the owner can stack two cars in the space. 

    This two-for-one capability might make $1 million seem like a little bit more of a bargain, but the owner would still have to get a $115 parking ticket every single day for 24 years straight to equal the cost of the spot, the Post calculated. 

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  • 4
    days
    ago

    Record-breaking $90 million penthouse sale in New York

    One57

    The two-level penthouse features glass walls that offer near-panoramic park views.

    By Martha C. White

    What real estate downturn? A two-level penthouse with sweeping views of Central Park just sold for more than $90 million — a record price for New York, according to the New York Times. At nearly 11,000 square feet, the apartment takes up the top two floors of the 90-story One57 building, which will include 92 residences and a Park Hyatt hotel when it opens next year.

    One57

    At nearly 11,000 square feet, the apartment takes up the top two floors of the 90-story One57 building.

    A spokeswoman for the building said the exact price was subject to a confidentiality agreement, but that it was less than $100 million. The penthouse was listed at $98.5 million when the buyer agreed to purchase it three months ago. 

    That unnamed buyer is getting a lot for the approximately $8,000 per square foot they agreed to pay. The six-bedroom, eight-bathroom penthouse includes four fireplaces, a "grand salon" with 23-foot ceilings and glass walls that offer near-panoramic park views. The kitchen has handmade cabinets, granite counters, Miele appliances and a 132-bottle wine refrigerator. 

    Developer Gary Barnett declined to identify the buyer to the Times, only specifying that they didn't hail from Russia or any former Soviet state. He referred to them as a "very nice family" and said "people would recognize" them, according to the newspaper.

    One57

    The six-bedroom, eight-bathroom penthouse includes four fireplaces, a "grand salon" with 23-foot ceilings.

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  • 5
    days
    ago

    Seattle condo enjoys buzz as setting for 'Fifty Shades of Grey'

    Zillow

    The author of "Fifty Shades of Grey" chose the Escala luxury apartment building in Seattle as the setting for the book.

    By Erika Riggs, Zillow

    Whether it's scintillating or offensive may be a matter of personal opinion, but few can deny the incredible buzz surrounding the erotic novel "Fifty Shades of Grey."

    Posted online by British author E.L. James as a piece of "Twilight" fan fiction, the trilogy of books was picked up by a small publisher out of Australia in 2011. In March 2012, Vintage Books of Knopf Doubleday Publishing Group bid a seven-figure sum to gain rights to the manuscript. More recently Universal Pictures paid $5 million for filming rights.

    Banned, embraced and parodied for its graphic sexual content, "Fifty Shades of Grey," like the "Twilight" series, is putting Washington state on the map again. But instead of small-town Forks, where "Twilight" is set, "Fifty Shades" is set in downtown Seattle in the luxury condominium building Escala. It's in this high-rise penthouse where the submissive-domination sexual relationship between billionaire Christian Grey and naïve college student Anastasia Steele takes place.

    While author James did take some creative liberties with her fiction — you can't land a helicopter on the penthouse roof as was done in the book, says Escala's director of sales Erik Mehr — he agrees that the Escala is an appropriate choice for a billionaire character like Grey.

    "If you were going to pick something opulent," Mehr said, "this would be the building."

    Situated in the downtown Belltown neighborhood of Seattle, the Escala is unlike many other luxury condo buildings. It's all about size and appointments.

    Amenities include a private spa, a gym with yoga studio, private dining room, full catering kitchen and dining area with room for 140, theater room and dog run: Escala is more like a five-star hotel than a condo building.

    That makes sense, says Mehr. The hotel concierge staff is run by a company that provides services to high-end hotels like the Salish Lodge and Four Seasons.

    Needless to say, it's a condo building with everything a billionaire bachelor would want, and a place that many "Fifty Shades" fans are aching to learn about. Mehr said that about a year ago, his team began to get phone calls from people who wanted to know "the layouts of the penthouse and the details of the condos." Clearly, something was up. When the Escala held open houses, visitors included "Fifty Shades" fans who wandered about, checking on the amenities and basic floor models.

    But with 70 percent of the units sold, the building is now only available for tours by appointment. Those who want to see one of the 5,200-square-foot, fully customizable and private penthouses are required to be pre-qualified.

    While base models in the Escala started around $400,000, a penthouse runs between $4 million and $6 million. Only one has been purchased, and although San Francisco Giants' star pitcher and Seattle native Tim Lincecum lives in the building, he bought the "sub-penthouse" layout for about $1.5 million instead.

    Zillow

    The lobby of the Escala features white marble floors, a grand staircase, and of course a desk for its 24-hour concierge service.

    Zillow

    Each apartment includes a private and customizable vestibule leading to the front door, guaranteeing homeowners' privacy.

    Zillow

    Most of the high-end condos in the building feature significant city and water views.

    See more photos of the Escala on Zillow.

    Related:

    • "Deep Throat" House Ready for New Owner
    • Robert Pattinson and Kristen Stewart's LA Hideaway for Sale
    • Pitcher Tim Lincecum Living High and Mighty After Deal 

    More from msnbc.com business:

    • Proposed law would crack down on nasty overdraft fees
    • Head West? Actually New Jersey economy is booming
    • Video: She's 92 and has no plans to retire

    Follow msnbc.com business on Twitter and Facebook 

     

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  • 15
    May
    2012
    12:49pm, EDT

    Listing of The Week: A 'Hobbit House' at Lake Tahoe

    By Erika Riggs, Zillow

    Zillow

    The custom home is designed to resemble a 1700s Austrian-style cottage.

    885 Hill Lane, Lake Tahoe, Nevada

    For sale: $3,700,000

    When Paul Arnold and his wife Elizabeth decided to build their custom home, they wanted something beyond fun. They wanted something fantastic.

    Hence, "The Hobbit House" was born.

    "As a framing contractor, I do hundreds of homes a year," explained Arnold. "To do something different and beautiful was always our mindset if we were going to do something for ourselves."

    For years, Arnold has worked alongside Jim Brashers, a local expert in designing, constructing and renovating historic and period homes.

    "We have built lots of really cool Disneyland-looking mountain cottages," explained Arnold. "My wife has always wanted to have a Jim Brasher-designed house."

    The resulting property is something that belongs in a fairy tale -- literally. The 1700s European-style cottage that is more the size of a castle, ringing in at 6,640 square feet. It resides on a forested lot complete with a waterfall, and views of the lake. 

    It is a most fascinating mix of whimsy and formidable architectural styling.

    A carved stone entry and 3-foot thick door, built with trees from the property, lead into the home where visitors are greeted by a handmade dragon chandelier holding court over an enormous entryway with hickory floors. Most of the woodwork was hewn from trees on the property, including the cabinetry and paneling -- a decision made by Arnold's wife.

    "She asked me if we could build the house without taking down any of the trees," said Arnold. His compromise was to build the house the best he could around the trees, and to incorporate the few trees that fell into the home's design.

    Other whimsical details in the Reno-area home include a giant wood-burning fireplace, guest suites with small windows looking over a great hall, and an indoor pool that is only accessed by a stone bridge. An outdoor wine cellar is built into the side of the hill.

    And of course, detailed murals cover many of the walls.

    "That's a very favorite part of the house," Arnold says. "There was an artist in that house for months, and the artwork on the walls is spectacular."

    Despite the rustic appeal, the home is firmly planted in the 21st century -- a blend of a "yesterday and tomorrow," says Arnold, who amped the home with technological details, including a controlled lighting system by Creston.

    The 4-bedroom, 5.5-bath home is listed by Ronda Moll of Sierra Sotheby's International Realty.

    According to Zillow's mortgage calculator, a monthly payment on the home would be $13,616 a month, assuming a 20 percent down payment on a 30-year-fixed mortgage.

    Zillow

    A stone bridge is the only way into the indoor pool area.

    Zillow

    Many of the rooms are covered in murals.

    See more photos of the storybook-style home on Zillow.

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  • 10
    May
    2012
    4:42pm, EDT

    For sale: Seattle home owned by Obama supporters

     

    Zillow

    President Obama is scheduled to start his Seattle visit at this home.

    By Erika Riggs, Zillow

    Updated and corrected, May 11: President Barack Obama visited Seattle Thursday for two fundraisers: Brunch at a private home, followed by an event at a downtown theater.

    The brunch was held at the home of Democratic donors Ann and Bruce Blume, who also own a nearby home in Seattle that was recently listed for sale for $2.95 million.

    As the race heats up between  Obama and Mitt Romney, the likely Republican nominee, the candidates are hitting the road to fill their coffers in an election that most agree will be the most expensive in history.

    While Romney hits up the Midwest — he was in Indianapolis on Monday and Lansing, Mich., Tuesday — Obama is heading to the West Coast, with scheduled events in Seattle and Los Angeles.

    Obama's last visit to Seattle was more of a public affair — he visited Boeing's plant in Everett and spoke to machinists there before attending a pair of political fundraisers. This time around, the visit focuses on fundraising and it starts with the private brunch at the Blumes'.

    The Blumes own two homes in Seattle, one in the Madrona neighborhood, where the brunch was held, and a separate one in the Broadmoor neighborhood.

    The Blumes' Broadmoor home, listed for sale, is a 1941 shingled Colonial with 6,880 square feet of living space on a generous lot and a half. The Broadmoor neighborhood is about three miles northeast of downtown Seattle, close to Lake Washington and the University of Washington's Arboretum. The  median list price for the area is $2.2 million.

    The listing for the home describes a "perfect floor plan" with plenty of formal and informal spaces. No doubt the cash-seeking president will be spending time in the formal areas, like the wallpapered dining room and adjoining living room with paneled fireplace. If the weather holds, brunch could be held on the spacious outdoor stone terrace.

    After Obama's visit to Seattle, his next stop is Hollywood, where he's scheduled to dine at George Clooney's home. That place is not reported for sale ... at this moment.

    Zillow

    Perhaps Obama will brunch in this formal dining room.

    Zillow

    A stone terrace may also be an ideal place for a Presidential visit.

    See more photos of the home on Zillow.

    (This story has been updated and corrected to reflect the location of the brunch event.)

     

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  • 10
    May
    2012
    3:28pm, EDT

    Homeowners may need to brighten up to sell

    TODAY's real estate expert Barbara Corcoran discusses how using bright colors in your home decorating can help attract buyers to your home. 

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  • 10
    May
    2012
    10:40am, EDT

    30-year mortgage rate hits record 3.83 percent

    By msnbc.com news services

    WASHINGTON — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.

    Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's below the previous record rate of 3.84 percent reached last week.

    The 15-year mortgage, a popular option for refinancing, dropped to 3.05 percent, also a record. That's down from last week's previous record of 3.07 percent.

    Low mortgage rates haven't done much to boost home sales. Rates have been below 4 percent for all but one week since early December. Yet sales of both previously occupied homes and new homes fell in March.

    There have been some positive signs in recent months. January and February made up the best winter for sales of previously occupied homes in five years. And builders are laying plans to construct more homes in 2012 than at any other point in past 3 1/2 years. That suggests some see the housing market slowly starting to turn around.

    Still, many would-be buyers can't qualify for loans or afford higher down payments required by banks. Home prices in many cities continue to fall. That has made those who can afford to buy uneasy about entering the market. And for those who are willing to brave the troubled market, many have already taken advantage of lower rates — mortgage rates have been below 5 percent for more than a year now.

    Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Slower U.S. job growth and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasurys, which are considered safe investments. As demand for Treasurys increases, the yield falls.

    To calculate the average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.

    The average rage does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

    The average fee for 30-year loans was 0.7 last week, down from 0.8 the previous week. The fee on 15-year loans also was 0.7, unchanged from the previous week.

    The average on one-year adjustable rate was 2.73 percent last week, down from 2.7 percent the previous week. The fee on one-year adjustable rate mortgages was 0.5, down from 0.6.

    The Associated Press contributed to this report.

     

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  • 9
    May
    2012
    12:02pm, EDT

    For sale: Infamous home where 'Deep Throat' was filmed

    Zillow

    The shaded Coconut Grove house was once the setting for an infamous film.

    By Laura Vescey, Zillow

    There are homes where famous films were shot that still enjoy a kind of real estate celebrity status all their own. But quite unlike the family-friendly Chicago house used for "Home Alone," a Miami area property where one of the "classics" in adult film history was created is a little less celebrated.

    In fact, the listing notes for this Coconut Grove real estate market oddity reflect the notion that the best remedy for it might be, well, a bulldozer. After several price reductions, the 1961 modern is currently priced to sell for $1.75 million, with much of the value resting in the .62 of an acre of land.

    Not that one can't imagine there might be a buyer out there who would actually enjoy remodeling the house where scenes for "Deep Throat" were filmed. According to Miami New Times, the listing photos reveal that rooms where at least two scenes were filmed are clearly visible, including a grotto-like wine cellar:

    "Deep Throat, the pioneering 1972 porno film, was partially shot in various places throughout Miami-Dade, and now an infamous mansion that was the setting for two of the film's most infamous scenes is for sale. It can be yours for the price of $1.75 million.

    Built and owned by bon vivant Baron Joseph "Sepy" De Bicske Dobronyi, the eccentric house is for sale after the "Baron" died in 2010.

    The film follows the plight of Linda Lovelace (playing a fictionalized version of herself), a sexually liberated woman who ... visits a doctor, and well, what do you know? The doctor apparently keeps his office in one of the mansion's cottages."

    While the main house needs significant updates, it is an interesting structure with glass walls and unique interior spaces. The property is actually two separate lots, and has a free-form pool that sits below heavy foliage that creates a very private setting -- which makes sense, given the property's cinematic past.

    According to Zillow's mortgage calculator, a monthly payment on the Deep Throat home would be $6,441 a month, assuming a 20 percent down payment on a 30 year mortgage.

    Zillow

    The 5,413-square-foot home has 4 bedrooms and 4 baths.

    Zillow

    A free-form pool is also on the property.

    See more photos of the home on Zillow.

     

    Related posts:
    Homes With a Past: Church, Schoolhouse and Silo

    House of the Week: Glassy Modern was Rumored Rendezvous Spot for Marilyn and JFK

    Beverly Hills Home Where Howard Hughes Crashed for Sale

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  • 8
    May
    2012
    12:32pm, EDT

    Wells Fargo may face fair lending claims

    By Reuters

    Wells Fargo could face civil charges from the U.S. Department of Justice under laws that prohibit discrimination against minority homebuyers, the bank disclosed on Tuesday. 

    The fourth-largest U.S. bank said in a securities filing it believes the charges should not be brought and said it is seeking to show the department that it is in compliance with fair lending laws. 

    A bank spokeswoman declined to comment beyond the filing. 

    The disclosure comes several months after Bank of America Corp's Countrywide Financial unit agreed in December to pay a record $335 million to settle similar charges. 

    The Justice Department accused Countrywide of charging blacks and Hispanics higher interest rates and fees than whites, and steering minorities to more expensive subprime loans even though they were qualified for traditional mortgage rates. Countrywide denied the department's allegations. 

    A DOJ spokeswoman did not immediately respond to a request for comment. 

    Separately, Wells Fargo received an $85 million penalty last year from the Federal Reserve Board over charges that it steered borrowers into high-cost loans. 

    The Fed then ordered Wells to compensate certain borrowers between $1,000 and $20,000. 

    The cities of Baltimore and Memphis also filed suits alleging Wells Fargo engaged in "reverse redlining," or intentionally targeting minority communities for predatory mortgage loans, leading to high foreclosures in minority neighborhoods. 

    Dispute over documents 
    In its Tuesday filing, Wells Fargo said it faced government investigations into whether the bank violated fair lending "and other laws and regulations relating to mortgage origination practices." 

    San Francisco-based Wells Fargo is the largest servicer and originator of home loans in the United States. 

    Wells Fargo made a record 33.9 percent of U.S. mortgage loans in the first quarter, as rivals such as Bank of America continued to pull back in the home lending market, according to Inside Mortgage Finance. 

    Wells Fargo's loan volume was more than triple the 10.6 percent market share of its nearest rival, JPMorgan Chase & Co. 

    The bank also said it faces investigations into whether it properly disclosed risks related to mortgage-backed securities in offering documents for investors. 

    In February, Wells said it had received notice that it may face an enforcement action from the Securities and Exchange Commission. 

    Tension over the investigation became public when the SEC in March accused Wells of repeatedly ignoring its subpoenas for documents and asked a federal court to compel the bank to turn over requested materials. The bank called the maneuver "inappropriate," and a judge has ordered the two parties to try to resolve their dispute. 

    In its court filing, the SEC said it is looking into whether Wells Fargo made "material misrepresentations or omitted material facts" in offerings it made to investors from September 2006 through early 2008, a period that included the beginning of the financial crisis. 

    Wells Fargo shares were down 0.9 percent at $33.19 at midday Tuesday on the New York Stock Exchange. 

    Copyright 2011 Thomson Reuters. Click for restrictions.

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  • 8
    May
    2012
    9:46am, EDT

    Listing of the Week: An A-list Hollywood party pad

    Zillow

    The focal point of the home is the two-story disco.

    By Erika Riggs, Zillow

    2189 Sunset Plaza Dr, Los Angeles

    For sale: $6.5 million

    Talk about a house that deserves an Academy Award for set design. This place has everything and more when it comes to a rockin' Hollywood party, including a two-story disco, IMAX theater, rooftop pool, grotto with a hot tub and a view of Tinseltown.

    Perched above Sunset Boulevard, this custom home has hosted celebrities galore, from P. Diddy and Hugh Grant to Russell Simmons and Val Kilmer. (Not to mention Denise Richards and TV shows like "Love is in the Heir" and "It's Complicated.")

    It's not too difficult to see what attracts stars to the home. Listing agent Patrick Norman of Rodeo Realty said its easy access to Sunset Plaza shops and boutiques makes this one-of-a-kind property so hot.

    "And," he adds, "It's turnkey. Just bring your toothbrush -- swimsuit optional."

    The British glamour photographer Richard Franklin has owned the Hollywood Hills home since it was built in 1990. Over the years, Franklin doubled the size, pushing the original house from 3,400 to 6,500 square feet and adding its unique features.

    What puts the pulse to the place is its most unusual feature: A two-story disco with a programmable lighting and sound system. But then again, the three-table, Vegas-style gameroom isn't too shabby, either.

    Each room carries out its own theme, from an entirely gold room complete with gilded furniture to an Egyptian-themed room with hieroglyphic-covered walls and a chic, sleek white room.

    Franklin has rented his place to celebrities looking for the ultimate Los Angeles party pad and has also used it for photo shoots. Franklin's work can be seen on the walls in some of the listing photos included in this post.

    The 4-bedroom, 6-bath home on nearly a quarter acre could continue to be used as the perfect party spot for the entertainment world's A-Listers. Or, for anyone with a flair for the dramatic, it could transition to a more traditional home.

    According to Zillow's mortgage calculator, a monthly payment on the Sunset Plaza home would be $24,017, assuming a 20 percent down payment on a 30-year-mortgage.

    Zillow

    The Vegas room has three professional gaming tables.

    Zillow

    Retractable curtains turn the pool area completely private.

    See more photos of the Sunset Plaza home on Zillow.

     

    More from Zillow:

    • Glassy Home was Rumored Rendezvous Spot of Marilyn Monroe and JFK (VIDEO)
    • Barry Manilow Relists Malibu Mansion with Price Cut
    • Beverly Hills Home Where Howard Hughes Crashed for Sale

     

     

     

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  • 7
    May
    2012
    6:09pm, EDT

    Even a $31.5 million bid won't snag Huguette Clark apartments for Qatari P.M.

    Brown Harris Stevens

    The view from Apartment 8W at 907 Fifth Avenue, a view that Huguette Clark gave up for the last 20 years of her life. The 5,000-square-foot apartment could still be yours for $19 million.

    By Bill Dedman, Investigative Reporter, msnbc.com

    NEW YORK — The prime minister of the Persian Gulf nation of Qatar was rebuffed this weekend in his attempt to spend $31.5 million for two of the New York co-op apartments of the reclusive heiress Huguette Clark.

    A person familiar with the decision said the co-op's board declined to grant the sheikh an interview, concerned primarily that the quiet character of the elegant building would change with the security demands of a foreign leader. He would be replacing, after all, a woman who was the world's quietest neighbor, having lived the last 20 years of her life in New York hospitals.

    Huguette Marcelle Clark, the heir to a Montana copper fortune, has been the subject of a series of reports on msnbc.com about her vacant properties and the management of her fortune. When she died last May at age 104, her properties included three apartments at 907 Fifth Avenue, at East 72nd Street, overlooking Central Park's Conservatory Water, near the statute of Alice in Wonderland.

    Karim Jaafar / AFP-Getty Images

    The prime minister and foreign minister of Qatar, Sheikh Hamad bin Jassim bin Jaber Al Thani, photographed in 2006. He was rebuffed in his effort to buy the New York apartments of the late reclusive heiress Huguette Clark.

    The Qatari prime minister, Sheikh Hamad bin Jassim bin Jaber Al Thani, was selected by the Clark estate after an auction, offering $31.5 million for Clark's two apartments on the 8th floor, a total of 10,000 square feet. That's half a million dollars more than the asking price. Hamad, who reportedly has two wives and 15 children, owns one of the largest yachts in the world, the 133-meter al-Miqab, which cost several hundred million dollars.

    Clark's third apartment, on the top floor, the 12th, found a buyer soon after it was listed, at or near the asking price of $24 million. The buyer is Boaz Weinstein, the well-known hedge fund manager and derivatives trader, formerly of Deutsche Bank and now with Saba Capital Management LP. He has signed a contract and is awaiting an interview with the co-op board.

    The three apartments combined cost Clark (and her estate) $28,500 a month in co-op fees, or $342,000 a year.

     


    The Qatari had not made the highest bid for the 8th floor apartments. He offered $31.5 million, less than the top bid of $33 million, according to a person familiar with the auction. The other bidders were the founder of a private-equity firm and the founder of a hedge-fund firm. It wasn't clear why the estate chose the lower bid.

     

     

     

    But the auction became moot after the co-op's board changed its mind, deciding not to allow the two apartments on the 8th floor to be joined into one. Even though the apartments had been listed separately, the estate had accepted bids only for the two together, after the co-op board had signaled that it would look favorably on a combination. But the board changed its mind after the auction, and the board declined to grant an interview to the Qatari, even if he were to purchase only one of the two apartments. Besides the security issues, the board was concerned about the disruption of construction, as well as the long-term imbalance of having a single owner with so large a share of the building. The Qatari had also let it be known that he was willing to pay top dollar for other apartments in the building for staff and relatives.

    Hamad is not only the prime minister but also the foreign minister of the emirate, and is the cousin of the emir, the country's hereditary ruling leader, Sheikh Hamad bin Khalifa Al Thani, who owns a house just down the block and across 72nd Street, between Fifth Avenue and Madison Avenue.

    Bill Dedman / msnbc.com

    A winter view of 907 Fifth Avenue in New York City, at 72nd Street on the east side of Central Park. The taxis in this view are headed east on 72nd, leaving the park.

    Now the real estate brokers must start over. Perhaps one of the other bidders will want to purchase only the $19 million apartment 8W, facing Central Park, or the $12 million apartment 8E. The apartments are said to need a lot of work, and the kitchens date from before World War II.

    The brokers from Brown Harris Stevens declined to comment, as did the attorney for the public administrator of New York County, who is executor of the estate. Proceeds of the sale will help pay estate expenses, with the remainder held for the winner of the court battle over the $400 million estate of Clark, who left two wills, one favoring her family and the other favoring her nurse, attorney, accountant and a public museum to be established in her oceanfront $100 million home in Santa Barbara, Calif.

    Her country estate in New Canaan, Conn., has been marked down to $17 million from its original price of $23 million.

    The New York Observer reported earlier Monday that the co-op board rejected a bid from an unknown buyer.

    Floor plans for the three apartments are available in our previous story.

    The full story
    More on the Huguette Clark mystery is at http://clark.msnbc.com/.

    Do you have information on the Clark family?
    Reporter Bill Dedman is writing a nonfiction book about the Clark family. If you have information, you can reach him at bill.dedman@msnbc.com.

    Rahul Kadakia of Christie's Auction House displays jewels discovered in heiress Huguette Clark's safe deposit box, including a pink 9-carat diamond ring.

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