UPDATE: Candy Spelling

Well children, now we know why ridiculously rich Hollywood widow Candy Spelling has been looking to unload some of her real estate holdings of late...she's downsizing. The lavish living ladee just forked over a record breaking $47,000,000 to buy the top two floors of a yet to be completed A.M. Stern designed building called The Century currently rising on Avenue of the Stars in Century City. For those not overly familiar with the lay of L.A. Land, Century City is a glittering and puny pocket of tall towers that sits south of Santa Monica Boulevard and between Bev Hills and Westwood Village.

Miz Spellings dee-luxe doo-plex will span about 16,000 square feet with 360 degree views from downtown Los Angeles to Catalina Island. Not surprisingly, the reported $2,848 per square foot price sets a record for a Los Angeles condominium.

The pampered and polished Mis Spelling has purchased her giant con-doe early enough in the construction process that she will be able to bring in her own architects and designers to finish her 41st and 42nd floor aerie. A few of the high-priced details of her new digs were reported in the Los Angeles Times and include a living room with two working fireplaces, a bizarrely large 4,000 square foot master bedroom, a massage room, exercise room, and conservatory that will feature a damn rose garden as well as an indoor swimming pool that will open to a terrace. Oh it's nice to be rich, ain't it children? Your Mama imagines that Miz Spelling's team of people will somehow manage to squeeze a gift wrapping room into the plan too because let's be honest, once you've become accustomed to having a gift wrapping room or two, you simply can not live without one.

We suppose this big buy means we'll start hearing whispers and rumors about the sixty something year old's 123-room mega mansion–dubbed The Manor–on S. Mapleton Drive going on the market. In fact Miz Spelling's attorney, a gentleman named Stephen Goldberg, is quoted saying that the woman with a penchant for all things glam often receives "feelers" and expressions of interest from potential buyers for her 11 bedroom and 16 bathroom behemoth including one filthy rich party who "promised nine figures and change plus a jet." Well good for her, because no matter how you slice it, decorate it, or keep it up, 56,000+ square feet is a lonely amount of space for just one person.

Meanwhile, Your Mama hears that daughter Tori and her growing family have recently purchased a much more modest new house in the Little Holmby neighborhood of Los Angeles. Records show that Tori's new 5 bedroom house cost her $2,275,000, which our bejeweled abacus tells us amounts to a breathtaking one-twentieth of the amount of cash Candykins just dumped on her new nest.

photo: The Century