Nicholas Cage’s Former Malibu Ranch Sells For $6.3 Million

    Posted by Cristin  |  November 14, 2013  |  9:38 am  |  Tags: , , , , , , , ,

    Biography.com

    Nicholas Cage

    Malibu, CA

    Most Known For

    Actor who found himself in a serious money mess

    Home Stats

    320 acre property with a 2 bedroom, 2 bathroom, 1,080 square foot home

    Price

    $6,300,000

    Nicholas Cage‘s former ranch in Malibu has just found a new buyer!

    The deal closed on November 7, 2013 for $6,300,000, as first reported by the LA Times. That’s a far smaller sum than the $10,300,000 “The Rock” actor paid for the Malibu spread in 2000. The seller is clothing designer Masud Sarshar.

    When Cage owned the property, he first tried to sell it for $23 million, and from there, the asking price kept trending downward.  While the land didn’t fetch $23 million, it’s worth a pretty penny, as its one of the largest land-holdings available in Malibu. Just minutes off the Pacific Coast Highway, the 3 parcel property has lakes, cattle and horses. Existing structures on the land include an indoor garden, a caretakers residence, horse pasture, and 2-bedroom and a 2-bathroom guest house with luxurious amenities tucked in a beautiful grove of oak trees. The property boasts its own extensive network of horse trails and boarders the Santa Monica Mountains’ network of trails.

    The sale of this ranch reminds us of Cage’s many real estate woes. In 2009, when the IRS came after him for unpaid taxes that totaled more than $13 million, he had just completed a massive land grab for high-priced real estate that included a private island in the Bahamas, a Medieval castle in Germany, a country manor in Rhode Island, a castle in England, a haunted estate in New Orleans and more. His list of properties and high-priced possessions – like nine Rolls Royce vehicles, a prehistoric dinosaur skull, and exotic snakes – could really go on and on.

    Notably, he first listed the former Tom Jones/Dean Martin mansion at 363 Copa De Oro Road in Bel Air for $35 million, but ultimately sold through bankruptcy for $10.4 million.

    As Cage’s financial woes became public, he famously sued his business manager, Samuel Levin, alleging negligence and fraud. Levin counter-sued, stating that he warned Cage that he was living way beyond his means and urged him to spend less. Levin’s filing states that “instead of listening to Levin, Cage  spent most of his free time shopping for high ticket purchases, and wound up with 15 personal residences.”

    Cage and Levin confidentially settled their suit in September 2010, and Cage has been trying to dig himself out of his financial mess ever since.

    Images via Kathleen Doyle of Kathy Doyle Estates, who represented the seller in the sale. Michael Cunningham of Pritchett-Rapf & Associates represented the buyer.

     

     

      Reese Witherspoon Reduces Ojai Estate By Another $1.3 Million

      Posted by Cristin  |  October 14, 2013  |  7:48 am  |  Tags: , , , , , , , , , ,

      Wikipedia

      Reese Witherspoon

      Ojai, CA

      Most Known For

      Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

      Home Stats

      9-bedroom, 6.5 bath, 7-acre property

      Price

      $5,900,000

      Reese Witherspoon may be one of America’s most beloved actresses, but she’s not feeling the love in the real estate game. After a year on the market and numerous price reductions, she just reduced the price of her rustic-style Ojai, CA retreat by another $1.3 million, bringing the new asking price to $5.9 million.  The new price is much, much lower than the $10 million she was originally asking for the estate.

      While pregnant with her third child, the retreat made headlines when Witherspoon and this Ojai home appeared on the cover and in a full length spread in the September 2012 issue of Elle Décor. That month, it officially came on the market with a $10 million dollar price tag and a splashy feature story in The Hollywood Reporter.

      The home first made headlines in March 2011, when Witherspoon married second husband Jim Toth in front of a group of A-list guests on the grounds of the estate. Months later, rumors swirled that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal.

      While this country retreat has gotten all the media exposure one would think it would need to sell, Witherspoon is still struggling to find a buyer. After numerous price chops, Reese is now asking just $100,000 more than the $5.8 million she paid when she purchased the property from prominent interior designer Kathryn Ireland in 2008.

      Since then, Witherspoon has renovated the space, clearly adding tremendous value, but she won’t get much more than she originally paid and will likely lose money on the deal.

      Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

      With four bedrooms and three and a half baths, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land - perfect for a large family to relax and escape to a quiet, country vacation.

      Gregg Leach of Village Properties now has the listing.

        Ellen and Portia Sell High Priced Equestrian Estate In Just Six Weeks

        Posted by Cristin  |  September 12, 2013  |  3:58 pm  |  Tags: , , , , , , , , ,

        Lara Porzak Photography via Getty

        Ellen Degeneres & Portia de Rossi

        Thousand Oaks, CA

        Most Known For

        Daytime talk show host and beautiful actress; Real estate aficionados

        Home Stats

        8 bedrooms, 10.5 bathrooms, 26.29 acres

        Price

        $10,580,000

        Ellen Degeneres and Portia de Rossi have sold their Thousand Oaks equestrian estate just six weeks after listing it.

        First listed for $11 million, the duo must have had oodles of interested parties, because they quickly upped the asking to $12.995 million. Now, the home is under contract with a buyer, as first reported by Curbed and confirmed by the listing agent, Suzanne Perkins. The Los Angeles Times is reporting that the sale price is $10.85 million.

        Nestled at the foot of the Santa Monica Mountains in Thousand Oaks, CA, Ellen and Portia’s former property is comprised of 26 acres that include a unique compound of vintage barns, charming guest cottages and state-of-the-art equestrian facilities. Two large barns serve as the social hubs of the property and are ideal for entertaining. Four private cottages provide modern convenience and farmhouse charm. A stable has six double stalls, grass and sand turnouts, a dressage arena and judging stand. The property also features a tennis court and windmill. Additionally, incredible landscape lighting washes majestic oaks, pines in pools of light and cottage paths appear magically at night.

        A mere 50 minutes from Ellen and Portia’s $17.4M main residence in Los Angeles, this property was the ideal escape for the hard-working duo.

        Don’t worry about Ellen and Portia being without a proper vacation home. Just before they put this ranch on the market, they scooped up a mansion in Montecito, CA for $26 million.

        In the past couple years, Ellen and Portia have kept their real estate agent on speed dial. They sold a penthouse in Beverly Hills, flipped Brad Pitt’s Malibu bachelor pad, and sold their massive Beverly Hills compound to Ryan Seacrest. Expect more news from these real estate aficionados sometime soon.

         

         

          Robert Pattinson Seeking New Hideout as Reese Witherspoon Lists $10 Million Ojai Retreat

          Posted by Vanessa  |  September 18, 2012  |  9:06 pm  |  Tags: , , , , , , , , ,

          2012 Getty Images - Andreas Rentz

          Reese Witherspoon

          Ojai, CA

          Most Known For

          Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

          Home Stats

          9-bedroom, 6.5 bath, 7-acre property

          Price

          $10,000,000

          Reese Witherspoon is letting go of her Tennessee-style Ojai, CA estate for a cool $10 million, reports The Hollywood Reporter in an exclusive interview with listing agent Billy Rose. Pregnant with her third child, Witherspoon is expanding her family, yet unloading a fabulous piece of real estate – one that’s been brilliantly marketed in recent months by the Legally Blonde star.

          The home made headlines in March of last year as it was the wedding destination for Witherspoon’s marriage to second husband Jim Toth. If you’ve been keeping up with your Twilight drama, you’ve read rumors that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal. Pattinson is now left to face Hollywood as he can no longer find future refuge in the Ojai hills. The retreat recently made headlines yet again as Witherspoon stands alongside her home on the cover and in a full length spread of this month’s issue of Elle Décor on newsstands now.

          Although we think this marvelous country retreat doesn’t need much media exposure to sell, Witherspoon may be seeking a new buyer in hopes of catching someone’s eye in the same way as it did hers. In 2008, Reese swooped the property from prominent interior designer Kathryn Ireland for $5.8 million after it was featured in House Beautiful. Since then, Witherspoon has renovated the space, clearly adding tremendous value, as she’s selling for about twice as much as she originally paid.

          Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

          With four bedrooms and three and a half bath, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land - perfect for a large family to relax and escape to a quiet, country vacation.

          Billy Rose of The Agency has the listing.

            Bruce Willis Lists $15M Lakeside Ranch in Idaho

            Posted by Daisy  |  November 22, 2011  |  4:25 pm  |  Tags: , , , , , ,

            Bruce Willis

            Hailey, ID

            Most Known For

            Being 90s blockbuster action star and saying "Yippee-ki-yay" to terrorists as John McClane in "Die Hard" and its 4+ sequels

            Home Stats

            6-bedrooms, 6.5-baths, 8,403 square feet home with lake view, detached guest house and gym

            Price

            $15,000,000

            Already the proud owner of several estates in Idaho, California, Montana and the Caribbean, 90′s action superstar (and real estate mogul) Bruce Willis has decided to put up the for sale sign on his 8,403 square foot, resort-style ranch in Idaho. First reported by the Wall Street Journal, “John McClane” has listed the home for a staggering $15 million. He first bought the home in 2003 and since made some pimp upgrades — from rebuilding the main house with 6 bedrooms and 6.5 bathrooms to adding a detached guest home and gym. What’s even more impressive is the extensive landscaping work that Willis did to the property’s already-lovely view of Flying Heart Lake. The home’s 20-acre lot now includes several man-made ponds and streams, two wells, a heated pool with water slides and waterfalls, as well as a rope swing. From the main road to the front door, the area surrounding the property is lined with paver stone and protected by a gated entry and security system.

            This beautiful home is just minutes away from local skiing, hiking, biking, live music and live theater venues in Sun Valley, ID. From the minute you walk in the door, the massive foyer entry leads you into an open and spacious sunken living room with pristine wood floors, accent ceiling lighting and two rock fireplaces. Moreover, the gourmet kitchen is a chef’s dream featuring Traulsen and two Sub-Zero refrigerators, a Viking six-burner stove with dual ovens, two dishwashers, a large pantry, glass cabinets, under-counter lighting and island with an eating bar. Completing this luxury getaway is the master suite which boasts a gas fireplace, cozy seating area, two heated decks, built-in desk and bookshelves. Meanwhile, the enormous master bathroom is complete with jetted soaking tub, granite shower, dual sinks and a custom built closet with built-in dressers and shelves. All in all, this is a home fit for any “Die Hard” fan of luxury living in the woods.

              Ranches of the Rich and Famous

              Posted by Cristin  |  October 21, 2011  |  12:29 pm  |  Tags: , , , , , , , , ,

              Home Stats

              Sprawling, multi-acre ranches and farms fit for a celebrity

              Price

              Multi Millions

              It’s not all sprawling mansions, sky-high penthouses or luxury pied-a-terres for the rich and famous – sometimes they like to spend a little time out on the ranch. Far, far away from the craziness of Hollywood or the hectic hustle and bustle of New York City, celebs crave a little downtime underneath the stars and away from the smog. For your viewing pleasure, we’ve put together a list of 5 stellar celeb-owned ranches:

              Whoopi Goldberg’s Marlboro Vermont Colonial Ranch & Farm

              On 745 acres, the Whoopi Goldberg-owned Robinson-Winchester Farm was completely renovated and remodeled in 2004 to exceptional standards. No expense was spared in the renovations from the beautiful 1790 colonial home to the multiple out buildings and barns and the 2 bedroom bunkhouse.The property features a tremendous equestrian facility and 15 miles of groomed woodland trails and 67+ acres of open pasture. The private estate also comes with conserved land.

              Dennis Quaid Selling Sprawling Emigrant, Montana Estate for $14M

              On 418 acres in Emigrant, Montana, Dennis Quaid’s ranch is on the market for $14,000,000. Located in the Paradise Valley of Southwest Montana, this ranch has it all: prime fishing for approximately 2 miles on both sides of Six Mile Creek and two ponds, horseback riding on the ranch and in the National Forest adjoining the ranch. Incredible views abound from a private and beautiful owners’ residence. The property features a 3-bedroom, 4-bathroom main home, as well as 4 guest houses, a ranch manager’s home and horse facilities.

              Carole King Lists Robinson Bar Ranch in Stanley, Idaho for $16M

              It isn’t often that a property this unique comes up for sale. The deeded property base and improvements provide security and comfort in the midst of a truly wild area managed by the USFS. The ranch is easily accessible by car and within a 20-minute drive to Stanley, Idaho and an hour-and-a-quarter drive to Sun Valley. The listing claims that “when you close the ranch gate behind you, the clock is turned back to another time and the incredible soul of this place will change your life.”

              Bill Gates’ Florida Equestrian Rental

              While we can’t exactly qualify this property as a down-home ranch, it makes the list for it’s sprawling land and incredible luxury equestrian facilities. Currently on the market for $12,999,000, this Wellington, Florida home is the current winter rental residence of Microsoft founder Bill Gates. According to reports, Gates is ponying up $600,000 a month to rent the property while his daughter is in town competing in the Winter Equestrian Festival, a five-month-long event. While occupying the property, the Gates family will enjoy an ultra-luxry main residence and a state-of-the-art barn.

              Sheryl Crow’s Tennessee Ranch

              Sheryl Crow has been trying to sell her College Grove, Tennessee ranch since 2010. The home had a recent status change to “off-the-market,” which hopefully means Ms. Crow was able to send the property out to pasture and onto a new owner. Luxe Living recently wrote about how she had been trying to unload the equestrian estate named Cross Creek Farm since early 2010, to no success. She even put the pastoral palace up for auction in November of 2010 with a minimum bid of $1,000,000. The auction was a flop, and the home toiled on the open market for months with a $4,500,000 price tag – a 40% price cut from its original list price. The hard-to-sell property is no eye-sore – it’s actually a beautiful 150-acre estate that includes a full equestrian facility with a 14 stall barn and indoor riding arena.

                Dennis Quaid Selling Secluded Montana Ranch for $14M

                Posted by Cristin  |  October 17, 2011  |  3:03 pm  |  Tags: , , , ,

                Dennis Quaid

                Emigrant, MT

                Most Known For

                Actor famous for both comedic and dramatic roles, including Far From Heaven, The Rookie, The Big Easy and The Day After Tomorrow

                Home Stats

                3 bedrooms, 4 bathrooms, 5,300 square foot home on an 418 acres

                Price

                $14,000,000

                Dennis Quaid is selling his beloved 418 acre Montana ranch for $14,000,000. The home was once owned by Hollywood legends Warren Oates and Sam Peckinpah, who co-owned the property and eventually sold it to Quaid.  Prior to becoming a getaway for Hollywood elite, this special place has been inhabited for thousands of years by Native Americans using it as an entrance to Yellowstone National Park.

                Located in the Paradise Valley of Southwest Montana, this ranch has it all: prime fishing for approximately 2 miles on both sides of Six Mile Creek and two ponds, horseback riding on the ranch and in the National Forest adjoining the ranch. Incredible views abound from a private and beautiful owners’ residence. The property features a 3-bedroom, 4-bathroom main home, as well as 4 guest houses, a ranch manager’s home and horse facilities. It also featured a domed observatory, which Quaid built as homage to his childhood fascination with the stars. Quaid said, “I was into astronomy as a kid…now I sit and watch the stars.”

                Historic gold mines are on the property, which borders the Gallatin National Forest, within one mile of the Absaroka Beartooth Wilderness Area. The Quaid’s residence is approximately 5300 square feet and was designed by Frank Cikan and published in Architectural Digest.