Michael Jackson’s Home Sells for $18.1 Million

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The home where pop singer Michael Jackson lived for about six months until his death has sold for $18.1 million, says broker Mauricio Umansky, who represented both the buyer and the seller in the transaction. He declined to name the buyer, but two people close to the deal said it was Steven Mayer, a senior managing director of private investment firm Cerberus Capital Management.

Photos: Private Properties

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Coldwell Banker Previews/Jill Eber & Jill Hertzberg

Michael Jackson’s last home sells for $18.1 million. Albert Brooks buys low and sells high in Bel-Air, Versace’s former Miami Beach mansion is cut 20% in price to $100 million and a hedge fund CEO cuts the price of his Chatham, N.Y., home. Lauren Schuker has details on The News Hub. Photo: The Agency.

Concert promoter AEG had been renting the property for Mr. Jackson for $100,000 a month when he died there in June 2009. The home belongs to Hubert Guez, owner of apparel company Ed Hardy, and his wife, Roxanne Guez, according to public records.

Located in Los Angeles’s Holmby Hills neighborhood, the 17,000-square-foot home has seven bedrooms and 13 bathrooms. Real-estate developer Mohamed Hadid built the home in 2002 and the Guez family bought it in 2004 for $18.5 million. Two years ago, the couple put it up for sale for $29 million. They relisted it for sale earlier this year for $23.9 million.

Actor Albert Brooks has sold his home in Bel-Air for $6.3 million, according to two people close to the situation. A Los Angeles businessman bought the home, they added.

Billy Rose, the founder and president of real-estate firm the Agency, represented both the buyer and the seller in the transaction, but declined to identify them. The home was put on the market earlier this year for $7 million.

Located on a private street in upper Bel-Air, the 5,100-square-foot, four-bedroom, five-bathroom home resembles a ski lodge and has 20-foot-tall ceilings. There’s a tennis court and an infinity pool on the 2-acre property, which is down a long, gated drive.

Before Mr. Brooks, who won acclaim for his role in “Broadcast News,” bought the estate, it was owned by Merv Griffin. According to public records, Mr. Brooks bought the home through a trust in 1992 for $3.7 million.


Just $100 Million: Price of Versace’s Former Home Is Cut 20%

The Miami mansion once owned by fashion designer Gianni Versace has reduced its list price 20%, to $100 million from $125 million.

Known as Casa Casuarina, the 10-bedroom, 11-bathroom home currently is owned by telecom entrepreneur Peter Loftin. Jill Eber, one of the listing agents, says Mr. Loftin decided to lower the price to open it up to more prospective buyers, just as Miami hits its busy selling season. To further market the home, Ms. Eber and her listing partner in Coldwell Banker’s “The Jills,” Jill Hertzberg, flew in a production team from California to produce a video of the property.

Mr. Versace lived in the sprawling mansion from 1992 until he was killed outside the home in 1997. He put more than $30 million into the property, buying the adjacent lot and adding more than 6,000 square feet, including a 54-foot-long mosaic pool lined with 24-karat gold and a mosaic-tiled courtyard. The home has more than 23,000 square feet of living space.

Mr. Loftin first used the property as a residence and private club before turning it into a boutique hotel with a restaurant in late 2009. The residential and commercial options present a variety of possibilities for the right buyer, Ms. Eber says.

—Alyssa Abkowitz



Tim SchoolsWilliam Ackman, the founder and CEO of hedge-fund firm Pershing Square Capital Management, has reduced the price of his Chatham, N.Y. estate by 22% to $3.9 million.

A 100-Acre N.Y. Estate—With $150,000 Movie Theater—Is Reduced 22%

William Ackman, the founder and CEO of hedge-fund firm Pershing Square Capital Management, has reduced the price of his Chatham, N.Y., estate by 22% to $3.9 million. The property originally came on the market last year for $5 million.

The 100-acre estate has a roughly 9,700-square-foot main house, two guest apartments, an art studio and a pool house for a total of seven bedrooms and eight bathrooms. There is also a tennis court, a 75-foot-long swimming pool and a 2-acre pond designed to resemble a river. Also included is a large playhouse designed to resemble the main house, with miniature furniture.

Mr. Ackman, who is based primarily in New York and has three daughters, bought the property in January 2004 for $3.3 million. He says he has since invested $1.5 million into the home, including adding a $150,000 movie theater.

“I’d say it’s an incredible bargain, says Mr. Ackman, who says he’s no longer using the house as much as he used to now that his daughters are getting older. Frances Schools and Timothy Schools of Old Ghent Realty have the listing.

—Candace Jackson



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