The sale of a $125 million penthouse on the top three floors of The Pierre
In London this week, the Evening Standard announced that a 50,000 square foot Grade I listed Regency house, 18 Carlton House Terrace, SW1 has gone on the market at £250,000,000. If it achieves this figure, it will become the most expensive single home to be sold in the UK ever.
The story of “fallen tycoon” Brian O’Donnell, the differences between bankruptcy in the UK and Ireland and an £11 million mansion
In these straightened times, the media in general and the Daily Mail in particular quickly latch on to stories about benefit scroungers living in luxury homes. They’re less quick, however, with the exception of the case of Grant Bovey (“Mr Anthea Turner”), to make reference to stories of bankrupt individuals remaining in multi-million pound mansions.
A most newsworthy example, though, has to be that of Irish property investor Brian O’Donnell and his psychiatrist wife Dr Mary Patricia “Pat” O’Donnell. Mr O’Donnell, who bought the Sanctuary Buildings in London for £170 million and paid $172.5 million for a 199,000 square foot property on Pennsylvania Avenue in Washington in 2008, started his career as a solicitor and eventually founded his own firm, Brian O’Donnell & Partners, in 1999. In time, he and his wife diversified into property investment and at the height of his success, Mr O’Donnell was described as “the Celtic Tiger poster child”. With the recession, however, came problems and by 2011, they owed Morgan Stanley €457 million, Aareal €235 million, and the Bank of Ireland circa €75 million.
The tale of a pioneer landowner reduced to bankruptcy and a Baywatch babe fighting off her debtors
Former Baywatch babe turned animal rights campaigner Pamela Anderson purchased 23445 Malibu Colony Drive in Malibu, California in 2000 for $1,800,000 with her then husband and subsequent on-off lover Mötley Crüe drummer Tommy Lee. She has just placed the property on the market for $7,750,000 as part of an attempt to solve her financial woes. (more…)
The rise and fall of the “wealthiest divorcee in history” has been extraordinary. A former nude model for her first husband’s Knave magazine and star of adult films such as “The Nine Acres of Nakedness,” Patricia Kluge is the daughter of an Englishman and a Scots-Iraqi. She married her second husband, the late John Kluge, chairman of Metromedia and once the richest man in America, in 1981 after belly dancing for him at a dinner party in New York. As part of her plan to dovetail herself into the top drawer of American society, the couple built a 24,000 square foot mock 18th century English-style mansion, Albermarle, in Virginia and stuffed it full of Chippendale furniture. She got this as part of her $100 million divorce settlement in 1990 and wisely invested part of the payoff in a highly successful business trading football cards but then vanity struck. The Kluge Estate Winery project that she started with her third husband, William Moses, bankrupted the pair in June 2011 and the Bank of America foreclosed on her properties. A lifeline came from “longtime friend” Donald Trump who purchased the vineyard and employed her, but even he’s now uttered the words: “You’re fired!” and sent her packing. Of her newfound predicament Kluge commented: “What did we lose? Material things, nothing too important. When something like this happens you really see who your friends are, those you can rely on, and we have many friends.” Here is a lady with fortitude that can only be described as admirable. It’s probably best, however, to keep her away from the cash register.
Living life to the full Donald G. Abbey style
“Why pay less when you can pay more?” is a mantra that some strangely choose to live by. In my time, I have encountered a couple with a different Ferrari for each day of the week, someone who proudly declared their home had a window for each day of the year and an heiress who insists upon the local baker feeding her dog daily with a freshly baked caviar pie.
When I discovered a house in California priced at $78,000,000, I didn’t expect to subsequently find out that the same vendor is also selling another of his homes in Montana at the very same price. Having done a little research into Donald G. Abbey, the commercial real estate tycoon who owns both The Bradbury Estate and Shelter Island, I discovered that here indeed is another personality whose excess knows no bounds.
I suppose when people sell homes of this worth, the asking price they set is quite irrelevant. “What,” I’m sure they ask, “is $5 million between friends?” Equally, when it comes to developing such properties, characters of this nature do not show any reserve. Bling is most definitely the order of the day and the larger and flashier one can build, I guess, the better.
Abbey’s Bradbury Estate is a case in point. This vast property consists of a 33,000 square foot main house with 7 bedrooms and 10 bathrooms. It is almost entirely made of French limestone and includes a chef’s kitchen with a pizza oven, a 2,000 bottle wine cellar, an oak paneled elevator and a leather paneled poker room. Bedrooms include domes with hand painted frescos and in addition there is a detached 6,700 square foot guest house above a 10 car garage and a 5,700 square foot pool house with a catering kitchen, gym, massage room and a subterranean EPA certified 25 yard rifle shooting range complete with a gun storage room and 2 large safes.
Within the 8 acre grounds there is a cross shaped infinity-edged pool – perhaps Mr Abbey is religious – that is “just a few feet short of Olympic length.” It requires 350,000 gallons of water if it is to be filled to capacity. Adjoining this is something even more ludicrous: a 1,000,000 gallon, temperature-controlled rainbow trout pond that cost some $8,000,000 to construct. The pond is said to be “adorned with perennials,” is heated by a custom gravity separator with UV filters and is “chilled for the trout by a 300-tonne central cooling plant.” At Bradbury, thoughts of water crisis in Sudan and Ethiopia come way behind the needs of Abbey’s rainbows.
For those wanting to avoid California’s UV rays, Bradbury also boasts an acre of porches, decks, loggia and walkways. A 600ft blue stone driveway completes this “once in a lifetime trophy property” that “belongs in the portfolio of the most astute collector” and it has space for “60 foot truck access or multiple limousines.”
When Mr Abbey has tired of California, he is able to retreat to his own island in Montana. The 24 acre Shelter Island on Flathead Lake includes 7,000 feet of frontage to the water, a world class sporting clay course and 3 computer controlled tracks and docking systems that allow boats to be landed in the dry dock without riders ever leaving the craft or handling a line. The island is powered via an underground armoured utility cable that carry 12,000 amps to it along with CAT-5 computer cable and phonelines and the main entertaining space features a mammoth television of some 120-inches in size.
Abbey has built over 44,000 square foot of accommodation on his island. The main house has 5 bedrooms and 8 bathrooms. His “Great Room” features ceilings of some 45 foot in height and in addition to yet another indoor shooting range, there is a kitchen that woudn’t look out of place in The Savoy hotel.
In the UK, the property most similar to anything Abbey has built has to be Updown Court at Windlesham in Surrey. Developed by a former bricklayer named Leslie Allen-Vercoe, the house was described by him as being: “The most important residence to be built in England since the 19th century.” Architectural critics did not agree and some went as far as to say that it looked like: “A cross between a Tesco superstore and Center Parcs.”
Allen-Vercoe’s behemoth of a house is gargantuan in size. With 103 rooms it includes 24 bedrooms, 5 swimming pools, a 2-lane bowling alley, a squash court, a floodlit tennis court, a 50-seat cinema and a panic room. The heated driveway that led to the house is entirely made of marble and cost some £2.5 million to construct but plainly none of this appealed to the market as it languished for sale at a price of £70,000,000 from 2006 to 2011 before being repossessed by the Irish National Asset Management Agency (NAMA). Updown Court was sold for half the original asking price to a foreign buyer in October 2011 and is, I believe, due to undergo extensive remodeling.
Allen Vercoe once stated: “If Elton John were a house, he’d be Updown Court.” Equally, I imagine if Mr Abbey’s residences were to be compared to any celebrities they’d be the vulgar car crash that is Donatella Versace and the ludicrous money obsessed singer with a dollar sign in her name, Ke$ha.
Updown Court, Shelter Island and The Bradbury Estate all illustrate that money cannot buy you good taste. I suppose, though, that those who ultimately come to live in them will have plenty of space to choose how and where to enjoy their own form of misery.
For more information about Donald G. Abbey, go to: http://www.theabbeyco.com
For information on both The Bradbury Estate and Shelter Island, contact Bob Hurwitz of the Hurwitz James Company on +1 310-477-8865. Website: http://www.hurwitzjamesco.com
A website devoted to The Bradbury Estate can be viewed at: http://www.bradburyestate.com
A video of Shelter Island can be watched at: http://vimeo.com/11404637
For more details on Updown Court, go to: http://www.updowncourt.com/
This property developer tried to sell Britain’s ugliest crib, Updown Court at Windlesham in Surrey, for £70 million in 2008. It languished on the market for years and looked like a cross between a Tesco store and Center Parcs. The mansion included five swimming pools, a heated marble driveway and 103 rooms. Nobody loved it but after it was repossessed in 2011, it was finally sold on for £35 million. Meanwhile, Allen-Vercoe appeared in the dock at Southwark Crown Court in 2012 in relation to a case involving the £10 million mortgage fraudster Joanne Sarah Pier (also known as Zoe May Fletcher and Maria Micheala). He was cleared.
“El Tel” is best known as a footballer manager but he’s a man of many talents. Few know that this national team manager of England (1994 to 1996) also co-authored four novels with Gordon Williams and was the co-creator of the ITV detective series Hazell. A Chelsea resident, he’s often to be found at Motcomb’s, the Rib Room Bar & Restaurant and Sette in Sydney Street.
Jeffrey’s invented a lot of tales but is rightly renowned for spinning them brilliantly. This former politician wrote some brilliant diaries whilst in prison and now is mostly likely to be found doing charitable deeds. His shepherd’s pie and Krug parties are still the stuff of legends.
Eternally cheerful survivors. They’re amongst the few who’ve beaten both Max Clifford and speed cameras. No one ever guesses what they’ll do next.