Thursday, October 6, 2011

Tales From the Recession

There are times when I feel positively sorry for the rich. Imagine having to sell one of these homes...

Newport, Rhode Island -- "Fairholme" with 16 bedrooms, 12 full baths, 2 half-baths and 24,340 sq. ft on 4.3 acres which have greenhouses to grow the estate's "signature pink geraniums." Apparently the pink germanium market is off. Very badly off because you can own all this for a bargain basement price of $17.9 million

County Kildare, Ireland - "Lyons Demesne" was refurbished by the late Tony Ryan, founder of Ryanair, during the 1990s. There only 11 bedrooms, 11 full baths and 3 half baths in the main house which is 146,000 sq. ft. There is also a lake, formal gardens and, reflecting changing times, the only private helipad in Ireland that is licensed for 24 hour use. This estate was built in 1785 and costs $72 million.

Back home in California, "Castle By The Sea" is set on 80 acres which include: a bridle trail, a Pinot Noir vineyard ("No more pesky trips to Bev-Mo!") olive groves ("Bye, bye Trader Joe!") fire and water landscaping features (how Vegas-y is that?!) sculpture gardens, a helipad, a 9,000 sq. ft. entertainment hall with caretaker quarters, penthouse and observation deck plus a 4-bedroom guest house, the estate managers residence, and equestrian facilities.

The house itself is 32,500 sq. ft. with 11 bedrooms and 12 baths set among 250,000 acres of state parkland.

They neglected to put in the price - you'll have to visit MagnificentProperties.com to see if it might be listed there. And if so, what part of California is host to this magnificence. I'm betting Montecito, outside of Santa Barbara. There's been a steady departure of the Very Rich from that area. Soon poor old Oprah Winfrey will have no neighbors at all.

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