Listen children, Your Mama is all sorts of crazy bizzy today so we don't know if we're going to have time to discuss an actual celebrity property at length. We know some of you are gonna get upset and we'll probably get all manner of emails telling us that we are a lazy bitch.
But you know what? We don't care. When you start putting money into our PayPal account so that we can pay the mortgage and the raw food chef we hire for our long bodied bitches Linda and Beverly, we'll stop taking days off during the week. But until then, like most of you, Your Mama has to make a living too.
In the meantime, you really should head on over to Braden Keil's most recent Gimme Shelter column in the NY Post. This week he's got great updates about a few folks we've previously discussed such as Natalie Portman and her Richard Meier dee-zined digs in Manhattan and the giant price chop on The Queen of Mean Leona Helmsley's Greenwich, CT estate known as Dunnellen Hall.
He also discusses some of the juicy buyer backlash at the Plaza Hotel. The new paint is barely dry on the old girl, and according to Mister Keil and Streeteasy, there are already 26 apartments for sale in the building ranging from a blistering $1,800,000 for a studio apartment all the way to $55,000,000 for Esprit founder Jurgen Friedrich's fifth floor flip. Tommy Hilfiger, another filthy rich fashion retailer, is also attempting to flip his unfinished penthouse doo-plex for $50,000,000 after purchasing the Central Park view unit in July of 2008 for $25,048,673. (Yes, that's right puppies, he's hoping to double his money.)
We also counted 20 units looking for really rich rental tenants. Anyone interested in a 630 square foot studio with over sized windows and a Juliette balcony for $5,800 a month? How about a furnished 1 bedroom with 1.5 bathrooms for a mere $25,000 per month? Or perhaps you need more space and you'd prefer a 3 bedroom 3.5 bathroom unit with a windowless kitchen and dining room at $38,000 a month?
You know what children? We're not surprised there are problems at The Plaza. Seriously kids, what's with all these magnates, tycoons and big bizness barons who figured it was financially prudent to spend a million or more on a studio apartment and well over three and four million clams for a large one bedroom unit? Pleeze.
It is our humble and entirely meaningless opinion that some of the mega moneyed buyers are simply suffering from a colossal case of buyer's remorse and as a result many owners are now attempting to resell their real estate mistakes and others are suing the El Ad Group (the building's owner and developer) for their own financial foolishness. It looks like some of these high end buyers who swooped in like chauffeur driven vultures to snap up all these extravagantly priced apartments at The Plaza may have got caught with their real estate pants down, and in light of the volatile financial markets and the behemoth bail out brouhaha we seriously doubt many folks feel much (if any) sympathy for these buyers' potentially futile plight to flip their obscenely expensive real estate white elephants...at a profit, natch.
Certainly, most of these people can afford to hold their hideously expensive apartments with no financial difficulties. And many may choose to do so, of course. But as evidenced by the number of units currently for sale, many buyers clearly don't want to hang on to their never lived in apartments. It remains to be seen how desirable all those 8, 10, and 12 million dollar two bedroom apartments will be on the resale market.
Mister Max Abelson over at the NY Observer has been following some the law suit shenanigans going on at The Plaza too. Good stuff.
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