Skip to comments.The New First Family of Real Estate
Posted on 07/10/2012 9:54:58 AM PDT by Lorianne
An $85 million L.A. mansion with a 500-worker renovation team. A $70 million London home. Two heiresses are swiftly amassing a global property portfolioand they're part of a new generation of young, ultra-wealthy buyers.
In a real estate shopping spree of epic proportions, the daughters of Formula 1 Racing boss Bernie Ecclestone have snapped up hundreds of millions of dollars worth of high-profile properties in the past 18 months. Tamara Ecclestone, 27, bought a 16,000-square-foot historic brick home across the road from Kensington Palace, where Prince William and Duchess Catherine will soon take up residence, for about $70 million early last year. Her 23-year-old sister, Petra Stunt, paid $85 million for a 57,000-square-foot Los Angeles mansion a few months later. Known as "the Manor," the 14-bedroom, 27-bathroom home was built by Candy Spelling and her late TV producer husband Aaron Spelling.
The sisters are among a small number of ultra-wealthy, young people who are making waves at the very top of the real estate market.
(Excerpt) Read more at online.wsj.com ...
Could not post the photos of the properties.
Must be nice to have a rich daddy.
Good for them and more power to them.
Well...I hope these two rich, good-looking young ladies know that they can never buy blueunicorn6, but they could rent me for awhile.
Seems to me they’re wealthier and have more common sense than the Kardashians.... at least they’re putting their wealth into something tangible! If we’ve never heard of them before, that’s probably a good thing. They’re busy with something other than themselves.
This is quite different from money generated within California or New York, allowing these states to continue to be harsh business climates. Outside money allows for all sorts of odd behavior. It's like an inheritance for the state. This allows liberal behavior since the financial reality is shielded for all by the super wealthy.
Most other states have no such advantage. They have to earn their wealth internally.