As summer rolls to an end, and exhaustion over constantly discussing the shifting market drags on, I thought it might be fun to look at some of the biggest and most intriguing residential real estate transactions in the country so far this year. Let’s start in a mecca of properties - where else but Manhattan.
A cable TV mogul and his wife purchased a second apartment in this tall, skinny, 85-story high rise in Manhattan for $70M in April. This building features open 2-story mechanical spaces every 12 stories to allow wind to pass through. The purchase is somewhat surprising, given the building’s problems associated with its height and the still intense swaying in high winds. This sometimes leaves elevators inoperable, pipes broken, and loud creaking noises!
Billionaire internet entrepreneur Jim Clark, founder of Netscape and Silicon Graphics, purchased this 15-acre compound in Palm Beach in March of 2021 for $94.2M with the intent of spending more time in Florida. He and his wife soon realized they preferred to spend time in New York, and then remembered there was another interested buyer at the time they purchased. They sold the property in June 2022 for an astonishing $173M to none other than fellow high tech billionaire Larry Ellison, CEO of Oracle Software!
Multi-Grammy winner Adele purchased actor Sylvester Stallone’s custom-built Beverly Hills estate for $58M. Stallone had originally listed the property for $110M in January of 2021, then again in October of 2021 for $80M.
He purchased the land at the end of a secluded cul-de-sac in exclusive Beverly Park for $2.35M in 1994 and built the very private Mediterranean estate.
This 24,000 square foot Tuscan-style estate on over 20 acres with canyon and city views was recently purchased by Canadian rapper Drake for a mere $75M from British pop singer Robbie Williams.
The house was listed for $85M. No worries though - Mr. Williams did fine on the transaction, purchasing the property in 2015 for $32.7M.
Oil heir Christy Thompson recently sold her 17,000 square foot Aspen mansion for a cool $60M. The home features 7 bedrooms, an indoor swimming pool, spa, wine cellar, garage with car turntable, and a 40-foot high foyer with a 30-foot waterfall wall. She then went and purchased another Aspen mansion for $51M. That home includes an Old Hollywood-style movie theater, a pair of glass elevators, and a system that pumps pure oxygen into the master suite to combat effects of the high altitude.
Needless to say, The Kolb Team did not represent any of the parties in these transactions, but we remain ready and able to assist you in all your real estate needs in this changing market.
The Kolb Team
Fees that are paid at the end of a transaction, either by the seller, buyer, or both.
These include taxes, insurance, title fees, and lender fees. This does not include the down payment.
Pet of the Month
Meet our September Pet of the Month -- Mr. Murphy
If you would like your pet to be featured in our Pet of The Month and win a Chewy gift card for your sweet family member, send a picture to email@example.com and tell us why your furbaby makes you happy. We look forward to seeing all of your awesome pet pics!
Recipe of the Month
Fall is the season for pumpkin spice, but you don’t have to leave the house to get your autumn fix! With just four spices, you can make this fall favorite flavor and add it to anything you want, from homemade coffee to baked goods, and pies to roasted vegetables like carrots, squash, and sweet potatoes! This recipe makes enough for one tasty pumpkin pie, but you can certainly double or triple the recipe, so you have it on hand.
- 1 tsp ground cinnamon
- ¼ tsp ground nutmeg
- ¼ tsp ground ginger
- ⅛ tsp ground cloves
- Mix together cinnamon, nutmeg, ginger, and cloves in a small bowl.
- Store spice blend in an airtight container.
Location: Field of Dreams Softball Field
Date: October 22, 2022
Time: 8AM – 10AM
We will be collecting pantry food items for Jacob’s Mission.
Here are what people are saying about our Shred A Thon:
Did You Know That Phoenix Was the Site Of Elvis Presley’s Return To Touring?
With the recent release of Elvis starring Austin Butler and Tom Hanks, there has been renewed and increased interest in the man dubbed The King of Rock and Roll.
He played in Phoenix several times during his career, but two especially important performances were just a few days after appearing on Milton Berle’s show and his return to touring in 1970 after 13 years – and his first stop on the tour was the Arizona Veterans Memorial Coliseum in Phoenix on September 9, 1970.
Eager for the concert to begin at 8:30pm, 13,000 excited fans packed into the venue to be a part of history (even if they didn’t know it then). After all, Presley had not been on tour since October 1957.
Here is Elvis arriving in Phoenix on the day of the event and deplaning from his jet, followed by his father, Vernon.
His first three residency seasons in Las Vegas were so successful, it was determined he would go back on the road when he wasn’t in residency, and Phoenix was chosen as the first stop as part of a 15 cities in 15 days whirlwind.
It was a different story though in 1956 when Elvis performed at the Arizona State Fairgrounds on June 9th of that year. Back then, he was viewed as a divisive delinquent, breaking segregation laws and corrupting the youth. Regardless, even back then, he and his backing band (the Blue Moon Boys) never played to an empty seat, including the sold-out 1956 Phoenix performance.
“Heartbreak Hotel” was already in its 6th week at the top spot on the Billboard Top 100, despite the tremendous scandal of his gyrating during “Hound Dog” on Milton Berle’s show just four days before. That appearance was perceived so immoral that the New York Daily News published that “pop culture has reached its lowest depths” and his performance was “tinged with the kind of animalism that should be confined to dives and bordellos”.
There’s no doubt that Elvis Presley has quite a legacy, and Phoenix is a big part of it!
See What Our Clients Are Saying!
“The Kolb Team is fantastic and a real pleasure to work with!”
- Sun Lakes, AZ
- Buyers in search of a golf course view in Cottonwood, also with a fireplace, at least 2 bedrooms, and office space.
- Buyer looking for a home in the 2000-square foot range. Would like a split bedroom floorplan with a nice private backyard.
- Buyers looking for a single level, updated home with 2 masters, would like ensuite bath in the second bedroom.
- Buyers in search of an updated Barcelona with at least a 2.5-car garage. Would love to have a view, but a nice yard would be fine as well.
Recent Real Estate Sales in Sun Lakes
Wondering about your Neighbor’s Home Sales Price? Find out here to see what sold last month. The report is broken down by HOA, address, and floor plan (if the agent listed the model in MLS).
Vendor of the Month
Are you thinking of creating or updating your will, or do you need a trust? Call 480-456-1144 and speak to the experts at Harowitz & Morrison, PLLC. Their friendly and professional staff are happy to help! Check out their blog with useful information here!