Pon de Replay-A Rhianna Resurrection

  Think back a few posts:  Remember earlier in the year when Gloria Allred got Goldilocks that hefty settlement from the Three Bears and how, before the ink dried on the check, Ms. Goldilocks ran off to find herself a new residence in Beverly Hills? Remember how she turned her nose up at poor little Rihanna's dream-pad-turned slum? The one that imploded once the rainy season began?

  Yes, this one.  The one she paid 9 million dollars for and took a hit of almost 4 million dollars just to get out of it?  Of course the lawsuits did fly, so perhaps she's had a bit of a financial bailout. Then, remember, a mysterious Russian came along, who may have been a baritone or maybe just a billionaire, and snapped it up for 5 million? Apparently he snapped his fingers as well; barely 9 months later, he has this:

   I guess he's not looking to hold on to it, as he has now boomeranged it back onto the market with an asking price of $9,950,000, half a million dollars more than it's original, pre-Rhianna price tag. So  now this...

...has become this....

 The pre-Rihanna master bedroom, which  looked like this...

  ..has now become this...

  The new Master Bath is pretty spiffy too. 

   The current listing broker describes the Master Bedroom Suite decor as "rocker chic". Since I didn't see any rocking chairs, perhaps Rhianna should sue for image infringement as well.

  As you may be able to tell from the photos, this house has now been staged within an inch of its life. There's even a light fixture suspended over the two story living room....

 ..that probably put the owner back a big pile of rubles even though it looks like some sort of exploding cartoon sperm, maybe in a Tim Burton film. But on the whole, the house is very much a Statement. Of some kind. The guest and/or children's bedrooms really aren't much, compared to the rest. Perhaps that is intentional: guests may get the message not to plan a long stay and kids, well kids would probably be an afterthought to the buyer of this kind of house anyway.

   That said, it does have great views and light everywhere and by the time I got to the master bedroom, somehow the whole fantasy was working for me. "I could live here, I thought," ignoring the concept of paying for it. 

   A few moments later, I realized what I was really thinking was, "I could stay here." For a while. But eventually, how out of place would a refrigerator full of family pictures and news clipping of friends look here? To be totally honest, how long would it stay white, given the number of pets and teenagers that seem to surround me? And of course the whole look is thrown completely off if you drop a book here or there.

   It will be interesting to see how quickly it sells this time. It could be fast; it does have big market appeal. It is indeed a house that coincides with a theory of mine: the dream of the majority of Angelenos is to live in the Peninsula Hotel. If they can't, they want it to seem like they do. I walk into countless numbers of immaculately staged and styled homes each month and leave thinking, "Hmm; feels like a nice hotel."

    My theory began to dawn on me sometime during our 2nd year here. The parents of one of my 7 year old son's friends, both truly talented architects, came over one evening to fetch their son. As him mom stepped into our living room she said, "Oh. You have personal things. And books. That's so great." It was then I first realized that this was deemed a bit of an oddity here. Seeing 15-20 different houses each week has only confirmed my theory

    I don't know where Rhianna has moved on to.  A part of me really wants to believe it's a '50's ranch house in Studio City with avocado hued kitchen appliances. That doesn't leak.

    But if you, or a friend, is thinking of living either of those lifestyles, don't hesitate to call me.

  Jamie Foreman

  323-314-1906

     

Looking for the perfect L.A. Pied-a-Terre?

     A truly bi-coastal lifestyle has been my fantasy for years now.
     I love New York; no one will ever convince me there is a more exciting place to live. Sometimes, it's too exciting.
      Los Angeles, with its near-perfect climate, year-round abundance of green and beautiful light is the perfect antidote to New York induced stress, as is the California state motto: In Animo Habeo ("I have nothing on my mind").
     Fortunately, both cities contain an endless amount of superb architecture.
     Of course my own bi-coastal fantasy crashed and burned, along with a number of others, when we decided to have children. Who knew they'd have lives and schedules and needs of their own? They make it very difficult to turn around and say, "You know what? I feel like going to my other life now."
     For anyone who is looking to add Los Angeles into their life, or already has, the absolute best pied-a-terre I've seen in Los Angeles has just come on the market. It is part of a totally unique, 5 unit condominium tucked away at the base of the Hollywood Hills. This unit is actually a stand-alone home.

     Built in 1926, it is a classic 4bedroom/3 bath Spanish style home that quietly evokes Old Hollywood glamour.

     Both the living room....

    and the dining room....

..open to private patios with outdoor fireplaces.

    There's an excellent, redone kitchen....

..with three bedrooms and two baths  upstairs. The master bedroom has it's own bath as well as a separate, windowed dressing area. The master and second bedrooms both open on to balconies...

....with that second bedroom overlooking the pool....

  Yes-the pool. The pool is shared by the five units.

   The great news here is that you have all the benefits of a private house and none of the upkeep on your shoulders. On the bottom floor there is a laundry room and a separate guest suite which even has its own entrance, in case you have the kind of guests who occasionally need to slip out, or in, during the middle of the night. Monthly common charges are $648. These units rarely come available and, as I said, there is simply nothing around to compare it to. Asking price is $1,250,000; it won't stay on the market long.

  Jamie Foreman

  323-314-1906

   

The Spirit of Silverlake

  Though now I am a HUGE fan of Silver Lake, it took me a long time to find my way there. Literally.
   Shortly after we moved here 16 years ago, someone suggested, as they often do in L.A., that I see some therapist/career counselor/yenta that she knew and claimed had done wonders for her. My friend told me this person lived in Silver Lake, an area which had not yet come onto my personal radar. With directions (and Thomas Guide) in hand, off I drove. And drove. And drove, thinking, "Oh, God; where am I? This is so funky..."  I cannot remember one thing about this woman; not her name, her face or what she told me. All I remember was the Silver Lake of it all.
   My second visit to Silver Lake, not long after that first ill-fated one, was when my late sister-in-law was in L.A. directing a project for AFI. She had swapped her New York apartment in Little Italy with a guy who owned an astounding home on the far side of the Silver Lake reservoir. He was only the third owner, the first owner-before 1920-having been some very successful vaudevillian. As we sat on the roof terrace, having drinks at dusk and watching the sun set over reservoir, the lights of the houses surrounding the reservoir began to pop on. I remember thinking "Wow. In 1919 this must have looked like heaven on earth. No wonder they called it Silver Lake."

    The truth of how Silver Lake got its name is a bit less romantic, which I discovered at our temple one morning, waiting for my son to finish Sunday school. It is the oldest congregation in Los Angeles (having been heavily financed by the Warner brothers and Max Factor) and there is a hallway with a picture display which is a history of Jews (or at least Reform Jews) in Los Angeles. It was there that I learned that Silver Lake was named after the man who used to own all the land surrounding the reservoir: Morris Silver. I liked my glimmering reservoir version better.
   Cut to 7 or 8 years later when Silver Lake comes onto my real estate radar, as it's starting to take off and become the hippest, or hipsterish, part of town. At this point  it also became clear that Silver Lake actually has great housing stock, including numerous mid-century classics. Much of the housing stock had become, over time, very run down. But somehow, what never left Silver Lake was it's very fierce underlying feeling of independent spirit. While it remains home to some of the city's oldest, staunchest lefties, let's not forget it was also the home of Ayn Rand. Most telling, however, is how all of greatest mid-century architects were commissioned for projects there. When I drive through the streets of Silver Lake now, almost daily, what also catches my attention is the original  impulse to build homes throughout these hills, which could not have been easy.
   The other day, I was dropping my daughter off at her friend's house in Silver Lake, on my way to go see a listing that had just hit the market. She asked me, as we were driving, what my favorite architectural style is. What I didn't tell her is that, when it comes to architectural styles, I'm like a bad boyfriend-I will become infatuated with the next good house I walk into, whatever the style, as long as it is well done. What I did tell her was that if I were to buy a house now in Los Angeles I'd be looking for a great mid-century. Little did I know that's exactly what I was about to walk into:

  Sitting just above the reservoir, on one of Silver Lake's best streets, is this 4 bedroom/3 bath 3,000+ square foot classic. From both the street and the rear....

...it's size is deceptive. Built on 3 floors, the layout is a dream come true, with a top floor consisting of a gorgeous master suite, with views of Mister Silver's "Lake".

    The main floor contains, besides two more bedrooms with bath, a wonderful, open entertaining area...

..and kitchen, all of which opens to a deck overlooking the yard and the solar heated, salt-water pool.

  There's a lower floor with den, laundry and guest suite and the entire house has been impeccably and cleanly renovated-nothing is overdone, everything serves the simple, clean architecture. It is, in short, a find. Asking price is $1,679,000.

  I'm not actually looking to move at the moment, so my loss is possibly your gain.If it's of interest, I'd say hurry. This will not sit on the market for long. 

  Jamie Foreman

The Russians Are Coming, The Russians Are Coming....

...an Epilogue.

...an Epilogue...

to Goldlilocks Does Beverly Hills.

You may remember when Goldilocks turned her pre-surgery nose up at the chance to purchase Rihanna's abandoned digs...

..but clearly not everyone felt the same way about this property, which has now been sold. The owner is listed as the Vladimir Rumenniks Trust. So far I can't trace with certainty exactly who Mr. Rumenniks might be, although there is a Russian baritone named Vladimir Rumennic. If Mr. Rumennik/c is one and the same, I certainly hope his talent with a hammer matches his vocal skills because he clearly has his work cut out for him. And I'm guessing he secured the house in a bidding war, as he paid more than $500,000 over the asking price. Either that, or long days at the conservatory prevented him from attending math class.
   And he's far from being the only Russian burying cash in Ameican real estate, as evidenced by Yuri Milner, who paid ONE HUNDRED MILLION DOLLARS recently for this....

...cozy little complex in Los Altos, California. But even more astounding was the recent purchase in Manhattan, of the penthouse at 15 Central Park West...

..by Eketarina Rybolovlea, a 22 year old college student and heiress to a Russian fertilizer fortune. Young Ms. Rybolovlea paid 88 MILLION DOLLARS for the 6,700 square foot penthouse. That breaks down to around $13,000 per square foot. I'm taking a guess here, that being known as a fertilizer heiress may cause one to slightly overcompensate when shopping. Exactly which American college she attends is being kept secret; let's hope it's some place ivy covered and that she's not an economics major. And who knows? Maybe she's planning on having roommates. She bought her pied-a-terre...

...from Sanford Weill who, judging from this picture, enjoys having a sculpture or two in his entry foyer. Mr. Weill was formerly head, at varying times, of Shearson, American Express and Citigroup. Four years ago, as the first owner of the apartment, he paid $42,000,000 for it, so he's done quite nicely for himself. Actually, he maintains he is donating the proceeds to charity, which is certainly a step up from donating your 20 year old Honda Civic to NPR. Years ago he attended Cornell and, again I'm guessing here, clearly attended an econ. class or two.

    But the bigger picture here is not the Russians finally coming to take over the United States, if piece by piece and having to pay for it, but the fact that foreign investment in U.S. real estate,  including in Los Angeles, is peaking. Nor is this a new phenomenon.

   In the mid 1980's, when I first started working in real estate in Manhattan, a number of new buildings went up when New York eased its condominium laws. At that point, like now, when various foreign economies were wavering, individual investors were coming in and buying packages of  new apartments, not because they had a desire to become landlords, but because they wanted a safe place to store their cash and have its value grow. Which is exactly what it did-apartments purchased then for $500,000 are now worth 3 to 5 times that. Each year I could figure out which country's economy was getting shaky by who was buying up the apartments.

   All of which boils down to two very simple, clear messages: this is the time to buy and premium U.S. real estate is an optimum place to park your money.

   By the way- Ms. Rybolovlea's father, Dimitry, happens to be in the middle of a very contentious divorce, his wife having accused him of 'serial infidelity' (wasn't that TV Guide's weekly description of "Dallas"?). Estimates are that her settlement could be anywhere from 3 to 6 billion dollars. Should you run into her and discover she's also looking to buy, don't hesitate to give her my number.

  Jamie Foreman

Walk It Off

     During our first three years in Los Angeles, having moved from Manhattan, we lived on the lower most block of Outpost Drive, in the Hollywood Hills. Periodically, the father of a friend of my 5 year old son would walk past our house in the morning. Rather than simply saying, "Hi," each time he told me, "I have an office just down in Hollywood, so I'm walking there." It gradually dawned on me that he kept telling me this not because he suspected I had no memory but because he was afraid I found it highly suspicious behavior. Indeed, after living here for a while it became clear that walking anywhere Los Angeles  has traditionally not been looked upon with high regard. People seem to only walk here in specifically prescribed areas, like hiking trails, and walking is deemed an activity one has to make an appointment for. Even the Los Angeles police  believe that people who are walking are probably up to no good.
     Shortly after the birth of our daughter, we knew we had to move somewhere kids could learn to ride a bicycle without flying down a ravine and where we could push a stroller someplace, anyplace, and hopefully end up somewhere we could buy a cup of coffee. Clearly someone heard our prayers and a house right around the corner from Larchmont Boulevard became available. Aside from falling in love with the house immediately, the fact that it meant we did not have to get in the car to do everything reduced us to tears of joy. My wife's only hesitancy in moving around the corner from a lovely shopping street with three coffee houses was the fear we'd die of caffeine poisoning within a year. I'm happy to report we have not. I'm equally happy to report that the concept of walking seems to be catching on in Los Angeles; indeed, it may be the wave of the future. And if you're buying a home here, it may become a factor that multiplies the value of your home in the years to come.
     What most residents of the better parts of Los Angeles don't seem to realize is that the monumental increase in the amount of traffic during the past 20 years has done as much to increase the value of their homes as the lowering of interest rates has. The impulse to run off and buy a few shady acres in Hidden Hills and commute to town has gone the way of the ice man. It's no secret that the freeways are now clogged at all times of the day. The streets of the city aren't much better and everyone knows that A: it will only get worse and B: the city government will continue to lag far behind in the development of public transportation. When you have a mayor who makes fewer public appearances than the Queen of England, you have to assume that the powers that be are not so in touch with the needs of the residents.
      So if not having to get in the car to go to the cash machine, buy a carton of milk or have dinner out is appealing to you now, think of how good it's going to look ten years from now.
      Here are a few examples of properties currently on the market in good walking locations....

     If you wanted to be in our neighborhood, there are a couple of interesting choices on the market right now, starting with this totally redone, 3 bedroom plus Guest House Spanish, asking $979,000. There's a good Master suite, a nicely done kitchen...

...and, as I mentioned, a guest house or office out back with it's own bath and a laundry. Or, if you're looking for something to both live in and that is a great investment, there's also a duplex nearby.

     On a great block, it has two 3-bedroom/2 bath units, both with fireplaces, both being delivered vacant and an asking price of $1,300,000.

     If you want to be near the heart of Silver Lake (an area I think still has great upside potential due to its proximity to downtown) there's a gorgeous Spanish with 3 bedrooms and 3 baths...

... that has just hit the market. In addition, there's a guest house with a wine room and a recording studio, not to mention....

...a pool and gorgeous city views. Asking price is $1,399,000.

     Studio City is another good walking neighborhood and there's a great new listing there as well. In Studio City you can walk not only to all the shopping but to a public golf course and tennis courts. There's also a city park that has fantastic organized sports for kids, which I can personally attest to, having spent untold hours there with our son when he was young, through every season of the year.

     This one, asking $1,029,000, is a 4 bedroom/4bath Cape Cod, also with a guest house...

....and also newly renovated....

     The good news about the guest house (besides the fact that it's there)...

...is that the property is zoned as a duplex so, technically, you could legally rent out the guest house.

     The village in the Pacific Palisades is my other favorite walking area, partially because there's a quality to the light in the Palisades that you don't get anywhere else. There's also a  Cape Cod there that's just come on the market, this one with 3 bedrooms and two baths...

...and this one is clearly not renovated. As it has just hit the market, I haven't had a chance to see it. But the listing agent says it has 'good bones' (which probably means lots of carpet) and that it's a great "opportunity to restore/update this well loved home." Okay, lot's of work. It's also kind of a clue that they've supplied no interior pictures and the seller will not make any repairs or pay for any of the work the city requires for closing. Between that and the hefty $1,895,000 price tag, it doesn't come as much of a surprise when they disclose that the agent is related to the seller. But it's a good one to keep an eye on and I'm betting that price will be coming down.

     Should you end up living in any of these properties, remember you certainly won't have to explain to me why you're out walking. In a few more years of increasing traffic, you actually won't have to explain it to anyone.

  Jamie Foreman

        james4man@gmail.com

        323-314-1906

Goldilocks Does Beverly Hills

   Once upon a time, about three weeks ago, a young woman-let's call her Ms. Goldilocks...

...with the help of her attorney....

...let's call her Gloria Allred, was able to win a sizeable settlement against the Bear Family, claiming illegal detention and sexual harassment. While the Bear Family publically claimed that it was Ms. Goldilocks who should go on trial for breaking and entering their tiny cabin in Encino, the Bear's lawyer convinced them that their hirsute appearance would not sit well with a jury and that they'd be better of settling. As soon as the settlement was granted, Ms. Goldocks turned to Ms. Allred and asked her to recommend a good real estate agent. "Someone who knows Beverly Hills," she said.
  The very next day, Ms. Goldlocks and her very blonde, very reconstructed agent, who shall go nameless for the moment, were in the back of the agent's car and headed out to shop for Goldilocks' new home.  "You're going to love this house; I think it's exactly what you're looking for," the agent told her as they pulled into the driveway....

...on Heather Road, just off Coldwater Canyon.

   "Oooh; this is so elegant," squealed Ms. Goldilocks...

...as they entered the 5,500 square foot, 5 bedroom, 7 and half bathroom abode. "This is so elegant!"
   "Yes," explained her agent, "the materials and fixtures have been imported from Paris and Venice and Florence, right down to the stone floors.
    "Wow," exclaimed Goldilocks; "How much does this cost?"
    "$8,795,000," her agent told her, in the same tone as if she'd said "$29.95".
    "Double Wow," said Goldilocks.
    "But can't you just see yourself..."

    "...and the future Mr. Locks in this beautiful master suite? Why there are bathrooms and dressing rooms and closets for both of you." As they entered another room....

...Goldilocks stood there, stumped. "What room is this?" she asked.
   "It's a bathroom," the agent snapped, barely able to conceal her contempt at her client's lack of sophistication.
    "Oh; I get it; that's a sink over there," said Ms. Goldilocks.  "You know I'm not so sure this is exactly right for me." At which point the agent grabbed her arm, yanked her downstairs, saying, "Well you have to see the grounds."

    But when Goldilocks saw that there were even chandeliers outdoors, she put her foot down. "Oh no no no!" she exclaimed; "This house is much to fancy for me! This will never do!"
    The agent was startled, not having heard the word "fancy" even once during her 25 year Beverly Hills career, and a bit peeved that this sale was going to take more time than she hoped. But being ever industrious, she plunked Goldilocks back into the car, telling her  "We're going to see something that's, well, not so done; maybe you'll be more comfortable with it. And it's a real steal. It belongs to Rihanna. She moved out." Reacting to the blank look on Goldilocks' face, she added, "The singer." While Goldilocks wasn't quite sure who that was, she was pleasantly surprised....

  ...as they pulled up to the gate.

    "Now this looks very interesting," she said hopefully. Until....

...the gate opened and they pulled in. "It's...a fixer," confided the agent. "She had a few problems with water damage and maybe some mold. But it's all fixable. And it still has celebrity heritage."
     Goldilocks decided to give it a chance. After all, it did have...

..30 foot ceilings in the living room, even if some of the flooring had been pulled up and someone forgot to remove the cleaning implements. And it certainly had...

...a great closet in the Master Bedroom. And after all, there were 8 bedrooms and 10 bathrooms. "It's 10,000 square feet!" the agent told her, but suddenly caught hereself: "No- wait!" She checked her notes and corrected herself-"It's 8,520 square feet," she said, having remembered that the agent who sold it to Rihanna had also claimed it was 10,000 square feet and was now being sued. "So, it's kind of cozy," she added. But by the time they reached the back yard...

...and the pool....

...Goldilocks burst into tears. "No no no no no!," she cried, "this will never do! This one is too messy!" She ran back through the house, with the agent following her, explaining, "But Rihanna pad 7 million dollars for this and she's asking under 5!"
   Things were silent for several minutes in the car, with Goldilocks finally admitting, "I just don't know if this is going to work out. I am very discouraged."
    "Cheer up," said the agent; "I have another idea. "Now we're going to the real Beverly Hills; I think I have just the right thing for you there."

   "We weren't really in Beverly Hills?" asked the very puzzled Goldilocks.

   "No, both of those were in the Post Office," sniffed the agent, though Goldilocks remained clueless as to what she meant. As they wound their way up to Gilcrest Drive, Goldilocks became more and more intriuged by the lovely neighborhood. And when they entered 1520 Gilcrest Drive....

...a sigh of joy escaped from young Goldilocks.

   The beautiful woodwork and the stunning light caused her breathing to become quite rapid. As they entered the living room....

..the agent informed Goldilocks that "..many years ago this property belonged to Jascha Heifetz."
   "Who?" asked the now hypnotized Goldilocks.
   "You know; the fiddle player," the agent told her. "But it was really the actor James Woods who redid this property, with all the Craftsman inspired interiors, she continued." Goldilocks had even less idea who that was, but could not have cared less as she toured the gorgeous study...

   ..and the master bedroom....

...In a trance, she followed the agent outdoors, to the entertaining pavilion....

...originally designed for Heifetz by Lloyd Wright, and walked out to take in the view....

    "This one is JUST RIGHT!" Goldilocks exclaimed. "I want it!"
    The agent smiled upon hearing the words that were always music to her ears.
    "How much is it?" Goldilocks asked.
    "$9,850,000," the agent told her; "Last spring they wanted 12.5!"
    But Goldilocks was barely listening, so entranced was she. "Just call Gloria Allred and work it out," she told the agent who, fortunately, had Gloria's number on her speedial.
    But Gloria had some distressing news for both the agent and Ms. Goldilocks, namely that her settlement wouldn't begin to cover purchasing this house, or anything like it. "They were just Bears from Encino, for chrissake. How much do you think I could get?"
    So several weeks later, when the Bear's check finally cleared, Ms. Goldilocks rented herself a nice studio in West Hollywood and asked Ms. Gloria Allred for another recommendation-a plastic surgeon. The well connected Ms. Allred knew just the right person, whom Goldilocks visited....

And they all lived Happily Ever After.