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The latest news on Real Estate from Business Insider

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    william weldon johnson and johsnon buys millenium tower apt for $13.6 million

    William Weldon, the chairman of Johnson & Johnson, seems to have bought a $13.6 million, three-bedroom apartment in the Millennium Tower on the Upper West Side of Manhattan, according to The Real Deal.

    Weldon, who was also the company's CEO until stepping down earlier this year, reportedly closed the deal on the 2,948-square-foot apartment, that was originally listed for $15 million, on September 6.

    The apartment was sold by Moshe Meidar, a founder of MAG Industrial Automation Systems.

    Floor-to-ceiling thermal windows were recently installed in every room.

    The home was previously featured in "Architectural Digest."

    The listing touts the apartment as a "smart home."

    See the rest of the story at Business Insider

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    washington dc aerial shotCounties around Washington, D.C. dominated a list of the 10 most affluent counties in the country, which was released yesterday by the U.S. Census Bureau's 2011 American Community Survey.

    Seven of the top 10 counties on the list, which is based on median household income levels, surround the nation's capital.

    Loudoun, Fairfax, and Arlington counties, all in Virginia, swept the top three spots. All three counties have household incomes of more than $100,000.

    Loudoun County took the top spot, with a median household income of $119,134 in 2011.

    Howard and Prince William counties in Maryland, and Fauquier and Montgomery counties in Virginia, were also in the top 10.

    The counties surrounding D.C. have the benefits of low unemployment and a lot of dual-income households, as well a thriving business-service sector, according to The Washington Post. The area also rebounded well from the recession, and has the highest amount of adults with a college degree in the country.

    The 10 Most Affluent Counties In America:

    Loudoun, VA $119,134 1
    Fairfax, VA $105,797 2
    Arlington, VA $100,735 5
    Hunterdon, NJ  $99,099 4
    Howard, MD $98,953 3
    Somerset, NJ $96,360 8
    Prince William, VA  $95,146 9
    Fauquier, VA  $93,762 16
    Douglas, CO $93,573 6
    Montgomery, MD $92,909 12

    DON'T MISS: A House At Every Price Point In America's Wealthiest County >

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    real housewives adrienne maloof sells $26 million beverly hills home

    "Real Housewives of Beverly Hills" star Adrienne Maloof has listed her $26 million home, according to Zillow.

    Maloof and her plastic surgeon husband Paul Nassif are divorcing, and have decided to sell their family home. The duo bought the home in May 2004 for $12.7 million, according to property records.

    The house has eight bedrooms, 11 bathrooms, and spans nearly 20,000 square feet.

    The home is completely gated in. As you drive up, you see a tiered water fountain.

    The home is located in Beverly Park.

    The grand staircase makes a striking entrance.

    See the rest of the story at Business Insider

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    rosewood mansion $46 million, california

    A 23,000-square-foot estate in Bel Air, Calif. has hit the market for $46 million.

    The Georgian estate, known as "The Rosewood Mansion," has nine bedrooms and an excessive 20 bathrooms.

    The home looks like it's out of the 18th century, but was just built in 2005.

    Welcome to the gated Rosewood Estate.

    The exterior of the house is made from brick and limestone.

    The dining room looks almost presidential.

    See the rest of the story at Business Insider

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    one57 construction

    The billionaire fashion moguls who took Michael Kors public in December have each purchased a $50 million apartment at One57, the ultra-luxury skyscraper that's currently going up in midtown Manhattan, according to The New York Post's Jennifer Gould Keil.

    The men, Canadian Lawrence Stroll and his Hong Kong business partner Silas Chou, are the first confirmed buyers in the building, The Post reports.

    Both tycoons reportedly bought full-floor apartments above the 80th floor. Like all buyers in the building, they paid 25 percent of the purchase price up front.

    Stroll and Chou acquired Michael Kors in 2003 along with the company's current CEO and turned it into a company with a current market cap of $8.6 billion, according to Knowledge@Wharton Today.

    Now take a tour of One57 >

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    $95 million co op in nyc

    A co-op on the 18th floor of the Sherry-Netherland hotel in New York City has hit the market for $95 million, The New York Times first reported.

    The home encompasses the entire floor, spanning 7,000 square feet. It has seven bedrooms and eight bathrooms.

    Liberty Travel co-founder Gilbert Haroche is selling the pad, which he transformed from several separate apartments into his 17-room home.

    It's one of several New York City apartments to hit the market lately with an asking price close to $100 million.

    Hotel amenities are incorporated in the cost of the home, and include daily housekeeping and turndown service, a 24-hour concierge, and room service.

    The new owners will still have to pay around $54,000 a month in service and maintenance fees.

    The kitchen is up to "professional grade" and includes warming stoves.

    See the rest of the story at Business Insider

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    The suburbs conjure up images of white picket fences, Little League games and a peaceful refuge from the bustling city. But with so many suburbs cropped up around big cities around the U.S., it can be difficult to determine which suburbs are the best.

    Coldwell Banker recently released their list of the Best Places to Live for Suburbanites, as part of its "Best Places to Live" series.

    They studied trends in more than 11,000 suburbs across the U.S. and looked at a variety of factors, including access to amenities like grocery stores and banks, proximity to good schools, commuting distance and community safety.

    Their study revealed some interesting insights into life in the suburbs, where about 75% of people own their homes, 92% drive to work, and most people tend to eat meals at home.

    Coldwell Banker also found that the best suburb in the country is Cherry Hills Village, Colorado, where nearly 100% of the people own their own homes and the commutes to nearby Denver average about 20 minutes.

    #10 Huntington Woods, Mich. (Suburb of Detroit-Warren-Livonia)

    Score: 961.65

    This Detroit suburb was modeled after Huntington, England, and is filled with historic homes.

    The town, which is home to the Rackham Golf Course and the Detroit Zoo, fosters a sense of community with its many clubs, like the Boy Scouts and the Garden Club.

    #9 Rossmoor, Calif. (Suburb of Los Angeles-Long Beach-Santa Ana)

    Score: 962.03

    Orange County's Rossmoor is only a short drive from L.A., but it feels like it's a world away with its laid-back lifestyle and quiet suburban feel.

    There are nice community facilities, like the Rossmoor Park Community Center and Rossmoor Shopping Village.

    #8 East Grand Rapids, Mich. (Suburb of Grand Rapids)

    Score: 963.28

    Founded in the 1830s, East Grand Rapids is the quintessential American small town, home to former President Gerald Ford and author Chris Van Allsburg, who wrote The Polar Express and Jumanji.

    The peaceful town wraps around Reeds Lake and offers ample opportunity for swimming and boating in the lake.

    See the rest of the story at Business Insider

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    Larry Ellison Malibu House

    Oracle's CEO Larry Ellison already owns a big chunk of Malibu's unofficial "Billionaire's Beach" but he just spent $37 million to buy a bigger chunk of it.

    Former Yahoo CEO, Terry Semel, sold his home on Carbon Beach to Ellison, who already owns numerous homes along this stretch of coveted beachfront. At a sale price of $36,943,890, this is the most expensive real estate transaction so far this year in Malibu, reports the LA times. 


    The home was originally listed for $50 million, according to

    It includes a three-quarter-acre lot and three structures:  the home, a lavish guest house and a barrel-ceiling screened room. All told, the property is nine bedrooms, 13 bathrooms and 10,317 square feet. It includes 151 feet of beach frontage.

    Lord knows Ellison can afford it. Oracle, just gave him a massive raise. In its fiscal 2012, his total compensation came in at $96 million. He could pay for this house out of his one-year salary and still have most of it left over. He is the third richest man in America (after Bill Gates and Warren Buffett) with a net worth of $41 billion, according to Forbes.

    Famous architect

    The house was designed by Michael Graves.

    The main-house kitchen

    Naturally, it has a big, modern kitchen

    A great view!

    Floor-to-ceiling windows show off the ocean view from the main house living room.

    See the rest of the story at Business Insider

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    law jollaIn the U.S., three markets tend to dominate the luxury real estate marketMiami, Los Angeles, and New York.

    For the most part, the trend holds true, according to Coldwell Banker, which just released its 2012 luxury market report looking at cities and zip codes with the highest numbers of luxury listings and home sales.

    In terms of places with the most $1 million+ homes for sale, California reigned supreme.

    #9: PARADISE VALLEY, AZ (85253): 455 homes are on the market for $1 million or more.

    #8: LOS ANGELES, CALIF. (90049): 469 homes are for sale for $1 million or more. Of those, 73 are listed for $5 million and up, and 41 of those are $10 million+. Last year, 10 homes in the neighborhood sold for $10 million or more.

    #7: LAGUNA BEACH, CALIF. (95651): 488 homes are on the market for $1 million and up. Of those, 76 are $5 million or more, and 25 of those are listed for more than $10 million.

    See the rest of the story at Business Insider

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    Dallas, texas penthouse in Ritz Carlton for $14 million

    For a cool $14 million, live life on top of Dallas in the penthouse at the Ritz-Carlton.

    The penthouse is ultra modern and very spacious. You won't get this type of space in New York.

    The pad spans 2,230 square feet, with four bedrooms, four full bathrooms, and two half baths.

    The home also gets all the amenities of the hotel, and access to a four-car garage.

    The SoJo Design Team of Miami designed the penthouse, combining two units.

    The home has three fireplaces. We love how the flat screen TV seems incorporated into the design in this room.

    The layout is very functional, and any extra space is utilized for storage.

    See the rest of the story at Business Insider

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    toshi home tour williamsburg

    Robert "Toshi" Chan loves nothing more than a wild rager. But the New York City party promoter-turned-hotelier has worked hard to turn his Williamsburg penthouse into a sanctuary where he can be alone.

    Chan, 38, has had a whirlwind couple of decades in New York. He started his professional career as a trader at Citicorp, and eventually transitioned into a party promoter after taking a mixology class. He adopted the nickname "Toshi" and became known for a series of elaborate "Toshi Parties" at the Puck Building in SoHo.

    Click here to tour Toshi's penthouse >>

    He's also dipped his toes into real estate and acting, having played a mob boss opposite Jack Nicholson and Leonardo DiCaprio in the 2006 Academy Award-winning movie, "The Departed."

    Several years ago he became well known for running a string of allegedly illegal short-term rentals in Manhattan and Brooklyn called "Hotel Toshi," which the Bloomberg administration cracked down on last year.

    But these days, he spends most of his time working on a more legitimate new hotel project, The Flatiron Hotel, of which he is the majority owner. Toshi has put his personal flair into the hotel, from a logo featuring his face to a throne for his dog, Ponzu.

    Chan currently lives in the penthouse of a building he owns in Williamsburg. The unit has two bedrooms and four bathrooms, spanning two and a half levels. He's lived in the stylish pad since 2007 and owns the building next door, which he rents out to tenants.

    When we stopped by for a tour, Chan filled us in on his interior design aesthetic. He said he believes in giving creative people freedom, with some limited structure. He gave his architect a budget and a vision (an open, mod, minimalist place with wood walls), and then let him loose.

    "I'm one of the worst house guests you'll ever have," Toshi said. "I've thrown parties where people have walked through the screen doors...I was that kid who invited all of his friends to a party."

    "But in my building I have a 25-page document for tenants to sign swearing [they won't throw] parties," he continued. "I'm the opposite at home."

    Welcome to Robert "Toshi" Chan's home in Williamsburg. He lives in the penthouse.

    The entryway is enormous, and features what Chan calls his "Alice in Wonderland" room. He challenges guests to figure out how to get in. He really just stores things up there.

    Chan lit his stainless steel, floating fireplace, which is the centerpiece of the living room. He said it gets "as hot as a curling iron."

    See the rest of the story at Business Insider

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    Hillary Swank Home

    Two-time Oscar-winning actress Hilary Swank has just listed her 6-bedroom Pacific Palisades mansion for $9.495 million.

    The Million Dollar Baby star bought the mansion back in 2007 for $5.8 million when she reportedly began dating talent agent John Campisi. Now the rumor mill is saying that the reason for the sale is that the couple recently split last month.

    The 1928 ocean-view Mediterranean-style mansion is three stories and has been restored by the Santa Monica- and Santa Barbara-based architects Mark Appleton & Associates along with NYC designer Mark Zeff.

    The beautiful California property is miles away from Swank's humble trailer park upbringing, to say the least. The actress still owns an apartment in New York City. [via]

    The backyard features a saltwater swimming pool and spa with poolside cabana.

    The pool is adjacent to an outdoor kitchen and barbecue station with dining area.

    The top floor has an outdoor terrace that overlooks the backyard.

    See the rest of the story at Business Insider

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    north lake tahoe, california, martis camp $11.85 million home

    A gorgeous North Lake Tahoe estate in the private neighborhood of Martis Camp is on sale for $11.85 million.

    The California home spans more than 7,000 square feet, has four bedrooms, five full bathrooms, and two half baths.

    The Martis Camp neighborhood gives residents access to an 18-hole golf course and putting park, a "family barn" complete with pool, bowling alley, art loft, movie theater, indoor basketball court, soda fountain, folk school, and outdoor performance amphitheater, and 26 miles of trails for hiking, snowshoeing, and cross-country skiing.

    Welcome to Martis Camp.

    The home boasts a curved copper roof, making this mountain retreat rather mod.

    The custom mahogany windows span from floor to ceiling.

    See the rest of the story at Business Insider

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    sean combs bachelor pad, p diddy midtown apartment

    Sean Combs, better known as "P. Diddy" or just "Diddy," has listed his swanky Midtown apartment for $8.5 million.

    The apartment was designed with three bedrooms, three full bathrooms, and one half-bath. The pad spans just under 2,300 square feet.

    Diddy transformed the place into a one-bedroom bachelor pad, converting the other two bedrooms into a media room and a wet bar with a piano.

    Welcome to West 56th Street.

    The apartment is 700 feet above street level, and has great city views and a panorama of Central Park.

    Diddy bought the place in 2005 for $3.82 million.

    See the rest of the story at Business Insider

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    dana point, california home $19.95 million

    A lovely estate in the Southern Californian beach community of Dana Point, is on sale for $19.95 million.

    The home spans 8,840 square feet, and has five bedrooms and seven bathrooms.

    The house is brand new, having been built in 2010. It was designed by EBTA and constructed by McCarthy.

    Welcome to Strand Beach Drive.

    The home is reminiscent of an Italian villa.

    The kitchen is very rustic, we love the stone range over the ovens.

    See the rest of the story at Business Insider

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    kiefer sutherland new york city west village apartment sells for $17.5 million

    Kiefer Sutherland, the former "24" star, has sold his brick-front home on Greenwich Street in New York City's West Village for $17.5 million, according to The New York Times.

    The place sold at a record pace, going into contract before it was even officially lists.

    The townhouse is five stories and spans 4,830 square feet. The home has 10 rooms in total, and has an elevator to help residents travel the five floors with ease. The pad has five bedrooms and five and a half bathrooms. 

    The buyer remains anonymous.

    Welcome to Greenwich Street.

    Sutherland purchased the pad in 2008 for $8.2 million, according to The Real Deal.

    The formal living room receives an abundance of natural light.

    See the rest of the story at Business Insider

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    st peters basilica rome google earth

    The economy may be crummy, but wealthy New Yorkers are still snatching up second homes in Europe.

    But the countrysides and beach towns of France and Italy are proving to be less popular than classic urban settings such as London, Paris, Rome, and even less-known places like Dubrovnik and Croatia, according to Tom Acitelli at The Real Deal.

    Milan and Athens were also popular destinations for New Yorkers buying real estate in Europe, brokers and analysts told Acitelli.

    Of the buyers in those markets, the percent of Americans was slim, but of that percentage a majority of were from New York.

    Most of these buyers tended to have business in the cities or had traveled there for years, and make for very informed buyers, Neal Sroka, a Prudential Douglas Elliman broker and president of DE Worldwide, told The Real Deal.

    Other agents said that New Yorkers buying abroad were "purchasing a lifestyle" rather than making an investment in real estate.

    As in New York, the higher end of the market in European cities is performing better than the rest of the market.

    DON'T MISS: The 9 Neighborhoods With The Most Million-Dollar Listings In America >

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    Messing with someone's terrace space in a ritzy Fifth Avenue co-op building is enough to bring on a full-fledged legal battle in New York.

    After 1107 Fifth Ave. board president Maureen Klinsky's low-ball bid to buy her building's penthouse was rejected, Klinsky set out to sabotage the sale, according to a lawsuit obtained by New York Post.

    Klinsky's $21 million bid on the apartment fell significantly below the $29.5 million list price. After it was rejected, the suit claims, Klinsky purposed to the board that the full-floor apartment’s private wraparound terrace could be used by all of the resident's buildings to enter the newly proposed roof deck.

    The estate of Monique Uzielli, the current owner, wants $5 million in damages — and a court order declaring that the terrace is private.

    The apartment is currently under contract, according to the listing's website, but the Post reports the co-op board is refusing to hand over the proper documents for the closing of the sale.

    Here are some photos of the roof deck and the apartment.

    fifth avenue penthouse


    fifth avenue penthouse


    fifth avenue penthouse


    fifth avenue penthouse


    fifth avenue penthouse

    DON'T MISS: Legendary Party Thrower Robert 'Toshi' Chan Takes Us Inside His Williamsburg Bachelor Pad >

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    sheryl crow hollywood hills home Sheryl Crow has listed her sprawling 11-acre estate in the Hollywood Hills for $15.95 million, according to Curbed.

    The gated estate has three homes. The main house is a Spanish Revival built in 1924, with four bedrooms and three and a half bathrooms.

    Crow just allowed Architectural Digest inside her home for the March 2012 issue, so it's no real shock that her home is now being listed conveniently afterward.

    Welcome to Vista Canyon Estate.

    Crow purchased the main home in 1997, according to Architectural Digest.

    The two-story entry features a wrought iron staircase, Spanish tiles, and beamed ceilings.

    See the rest of the story at Business Insider

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    patrick stewart park slope $2.5 million

    The "Next Generation" for Patrick Stewart will unfold in Brooklyn, where he just bought a $2.5 million apartment, according to Curbed.

    Stewart's new Park Slope abode is a duplex penthouse, with three bedrooms and two and a half bathrooms.

    The home spans 2,176 square feet, has 11-foot ceilings, and is a converted carriage house.

    Curbed pointed out Stewart was tweeting about his cable issues, showing he really is just like everyone else!

    Welcome to 7th Street in Brooklyn.

    Common charges are $878 a month for the place.

    The home has four exposures, with views of Brooklyn and Manhattan.

    See the rest of the story at Business Insider

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