Gloria Swanson’s eight bedroom, 14 bathroom, 24,000-SF New Jersey mansion, once listed at $39 million, sells for $4.6 million

Gloria Swanson’s eight bedroom, 14 bathroom,
 24,000-SF New Jersey mansion,
once listed at $39 million, sells for $4.6 million

  

 Joseph Kennedy and wife actress Gloria Swanson

ENGLEWOOD, NJ -- An Englewood, New Jersey mansion that was built for Polish royalty and was once owned by Joseph Kennedy, patriarch of the Kennedy clan, who gifted it to his mistress, silent-film-star Gloria Swanson, has sold for $4.6 million, or about 88% under its original asking price of $39 million.

 

Sara Jessica Parker

Gloria Crest, surprisingly named for the location and not Gloria Swanson, was built in 1926 by Count Stefan Poniatowski, who claimed to be the heir to Polish royalty.

Brooke Shields

The count had made millions in the silk industry and built the mansion as a testament to his wealth, according to TopTenRealEstateDeals.com.

Anne Morrow Lindbergh

 

  His wife, Edythe, landscaped the walled five acres with exotic gardens which still contain rare horticultural examples today.

Upton Sinclair 

When the stock market crashed in 1929, the count sold the villa to Kennedy, who turned around and gifted it to Ms. Swanson.

David Cassidy

Designed to resemble an Italian villa in the Renaissance Revival style encompassing 24,000 square feet on five acres of land, the home stood out in the well-to-do community and was often referred to as the White House of Englewood.

Malcolm Forbes

The mansion was originally priced at $39 million in 2013 before a series of price reductions to $9.9 million and the final price of $4.6 million.

Michelle Pais 

Although somewhat dated along with high property taxes of $168,000 per year and a complicated corporate ownership, the home has a lot going for it including a pool, pool house and aviary, stream, lake, waterfall, island and pavilion.

Count Stefan Poniatowski

The interior contains eight bedrooms, fourteen bathrooms, banquet-sized formal rooms, music bar room, den, library, chef’s kitchen, elevator, seven-car garage, greenhouse, staff quarters, gym, grotto, steam, spa, media room, and wine cellar.

                              Swanson mansion wine cellar

The three-room master suite has a sitting area and fireplace, a bath with marble soaking tub and separate shower. 

 

Additional amenities include a home theater, private gym, and a home office.

Swanson mansion interior entrance

With its prestige and proximity to Manhattan, Englewood has been home to authors Upton Sinclair and Anne Morrow Lindbergh, actor-and-musician David Cassidy, Forbes publisher Malcolm Forbes and actresses Sara Jessica Parker and Brooke Shields.

 

The selling agent is Michelle Pais from Signature Realty in Westfield, New Jersey.

 

CONTACT:

 Genelle C. Brown

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3728
Twitter:  @toptenrealestat
facebook.com/toptenrealestat 

 

 Photo credit: Signature Realty

Source: thegloriacrestestate.com

'Godfather' Mansion in California Looks For a Final Offer It Can’t Refuse!

         30,000-SF 'Godfather' Mansion in San Simeon, CA

SAN SIMEON, CA -- One of California’s most historic and opulent mansions, a honeymoon love nest for Jack and Jackie Kennedy, and a big star in movies such as The Godfather and The Bodyguard, the famous Hearst Estate has finally sold.

Jackie Kennedy

 The only question is the final price.

 Having been on and off the market during the 40 years it has been owned by financier-and-attorney Leonard M. Ross, who was forced into bankruptcy in 2019, the Hearst Estate was listed in August 2020 at $125 million.

 

 In April 2021 the price was dropped to $89.75 million and in June down to $69.95 million. 

President John F. (Jack) Kennedy

 After reaching the June price, the estate received multiple offers which were reviewed by the bankruptcy court. 

 

A price of $47 million was accepted by the court, but during the final proceedings will be open to a brief auction in the attempt to garner a higher price before the gavel falls, predicts TopTenRealEstateDeals.com.

William Randolph Hearst

 

Newspaper magnate, yellow journalist and two-term Democratic congressman from New York, William Randolph Hearst, the inspiration for the Charles Foster Kane character in Citizen Kane, and actress Marion Davies began their torrid love affair in 1917.

 Marion Davies

 

He was 53 and married while she was a 19-year-old chorus girl when they moved in together at his world-famous Hearst Castle in San Simeon, California.

 Beyoncé

When he agreed to downsize from the imposing 69,000-square-foot estate, Davies bought him a smaller mansion in Beverly Hills - where they lived until his death in 1951. 

Hugh Hefner

Previously known as The Beverly House, the mansion has been a frequent filming site used as a backdrop for the movies The Godfather and The Bodyguard and Beyoncé’s music video, Black is King. 

 

The home was also where Jack and Jackie Kennedy stayed during the Southern California segment of their 1953 honeymoon. 

 

 Mrs. Kennedy was so excited to be staying in such a stunning estate, she wrote a four-page letter about her stay, which is framed along with photographs that are on display at the home.

 

 The mansion was later used by Senator Kennedy as the West Coast headquarters for his 1960 presidential campaign. 

Behind iron gates on 3.5 acres and down an 800-foot driveway past a five-room gatehouse, the impressive 30,000-square-foot mansion first comes in to view. 

 

 On entering, there is such a volume of space that one is focused only on its vast size. The living room has 22-foot-arched ceilings that are hand painted. 

The room also serves as a screening room with wooden shutters that can be closed to block out light.  The family room is also used as a second screening room. 

 

There is a magnificent two-story, hand-carved, wood-paneled library where the pattern in the carpet replicates the same ceiling pattern. 

  The billiard room’s fireplace surround is from Hearst Castle and is one of eight in the house.  The pool table is from 1868 and is one of only three like it still in existence.  

 

An Art Deco nightclub is on the lower level modeled after Hugh Hefner's former Beverly Hills club, Touch, with the club’s original etched glass and doors.

Outside the Hearst Estate, the Olympic-sized pool is fed by two reflecting pools that spill into the main pool surrounded by terraces, manicured lawns, columned pergolas and splashing fountains - an area that can accommodate up to a thousand guests. 

 

Tucked into the landscaping is a tennis court with its own pavilion.  Ancillary improvements include two staff/guest apartments, a pool house and a two-story, five-bedroom gatehouse.

Leonard M. Ross

Regardless of what happens before the gavel hits its mark, Mr. Ross will be saying goodbye to his exquisite mansion, and it will move forward to welcome a new set of owners and guests.

 

The property is co-listed by Anthony Marguleas of Amalfi Estates, Gary Gold of Hilton & Hyland, Zizi Pak of Rodeo Realty and John Gould of Rodeo Realty, all located in Beverly Hills.

 

CONTACT:

 Genelle C. Brown

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3728
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

Photo Credit:  Jim Bartsch
Source:  TopTenRealEstateDeals.com

Source: www.thehearstestate.com
Video:  https://www.youtube.com/watch?v=U5C4Y-QnCxY

Video Credit:  Sean Evans, @evvo1991 backtothemovies.com/ 

New York's 'Famous' Joe’s Pizza to Open First Miami Location at Wynwood 25

 MIAMI, FL – DWNTWN Realty Advisors Co-Founder and Managing Partner Tony Arellano and Executive Joe Fernandez are curating one of Wynwood’s signature buildings with a compelling mix of tenants.

 Tony Arellano 

In the latest example, the brokers represented Wynwood 25’s owners in a long-term lease with New York staple 'Famous' Joe’s Pizza.

 Joe’s Pizza, the family owned and operated “Greenwich Village institution” since 1975, is set to open its first Miami location at Wynwood 25.

 The 1,758-square-foot eatery is scheduled to debut in spring 2022. It joins the award-winning Japanese restaurant Uchi Miami, Danny Meyer-backed Salt & Straw, Bartaco and Dogfish Head Miami as notable Wynwood 25 food-and-beverage tenants.

Joe Fernandez 

DWNTWN is also successfully leasing up the Wynwood Annex office building next door to Wynwood 25. Both buildings were developed by the Related Group and East End Capital.

 Wynwood 25 has 289 apartment units and about 30,000 square feet of retail and restaurant space.

 “We are thrilled to play a pivotal role in Wynwood becoming one of Miami’s top food-and-beverage submarkets, in terms of both sales metrics and brand recognition,” Arellano said.

Jared Robins

 “Demand from New York operators like Joe’s Pizza is at historically high levels. 

"Wynwood 25, with its turnkey ground-floor restaurant space and proximity to thousands of residents, professionals and visitors, was a perfect option for Joe’s inaugural Miami location.”

 Jared Robins, Founder of INHOUSE COMMERCIAL – a Miami-based firm launched in 2021 and focusing on retail leasing in South Florida, and John Ellis, Managing Director of Newmark, represented Joe’s Pizza in the Wynwood 25 lease.

John Ellis

Joe’s Pizza Founder Joe Pozzuoli is originally from Naples, Italy and still owns and operates his flagship New York location at 84 years old.

 His son, Joe, Jr., and grandchildren Sal and Pino Vitale are part of the ownership and operations team in Miami. Locals and tourists alike flock to Joe’s for an authentic New York street slice.

 “After an extensive search, Joe’s Pizza zeroed in on Wynwood for its first foray into Miami,” Fernandez said.

Pino "Joe" Pozzuoli Sr.

“With such a huge following up north, Joe’s will greatly benefit from the New York migration into Wynwood and the substantial pipeline of new office and residential development.

Joe Pozzuoli Jr. (left) and father Joe Pozzuoli Sr.

"The residential component of Wynwood 25 also made the building a particularly attractive option for Joe’s.”

 Devlin Marinoff

DWNTWN is the market leader in Wynwood and other urban core neighborhoods in Miami. Arellano and fellow Co-Founder and Managing Partner Devlin Marinoff have more than $100 million in pending transactions in Wynwood.

 The firm has participated in more than $350 million in investment and development sales in the neighborhood over the last few years.

 Over the course of his career, Arellano has completed more than 250 leases in Wynwood and played a pivotal role in the neighborhood’s evolution from an overlooked, largely neglected collection of old industrial buildings into a vibrant hub for arts and culture, retail, restaurants and nightlife.

 For more information on DWNTWN’s investment sales and lease offerings, please visit www.dwntwnrealtyadvisors.com/inventory.

   

 CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 www.dwntwnrealtyadvisors.com.

 

JLL Valuation Advisory expands renewables group with John Oates as a Managing Director in Tampa, FL

 

John Oates 

CHICAGO, IL – JLL Valuation Advisory has hired structured finance specialist John Oates to join its Renewable Energy Valuation team as a Managing Director to help build out a best-in-class infrastructure platform.

David Dominy

 Based in Tampa, Fla., he reports to Managing Director Mike Bammel, National Head of the Renewable Energy Valuation team, which is part of the Infrastructure group led by Managing Director David Dominy.

 “John brings a wealth of experience, a solid reputation and leadership skills in providing renewable energy sector valuations that will contribute to helping us grow our infrastructure platform,” Bammel said.

“We are excited to welcome a professional of John’s caliber and experience, and I’m personally thrilled to get to work with him again and collaboratively build our structured finance practice.”

 At JLL, Oates is focusing on business development and renewable energy structured finance transactions, which involves how projects are financed and combines tax equity, equity and debt.

Mike Bammel

He also specializes in and will consult on various types of energy projects, including solar, onshore and offshore wind, geothermal, fuel cell, hydro, bio combined heat and power, in addition to carbon capture storage and utilization appraisals and cost segregations supporting tax credit.

He has nearly 50 years of experience in structured finance primarily with sale-leaseback valuations, which includes pioneering valuations of facility leases for automobile manufacturing plants and suppliers; steel mills; oil, gas and chemical assets; semiconductors and power plants, including coal, gas, nuclear and renewable energy facilities.

He previously was the co-founder of a lease valuation specialty firm in New York City.

 “I look forward to contributing my valuation expertise to help build the Renewable Energy Practice,” Oates said. “Joining a world-class organization like JLL provides us with the tools and technology to continue to grow this service line and provide unmatched service to our rapidly expanding client base.”

 CONTACT:

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Lenders Scouting the Markets to Make Small Loans of $10 Million or Less

  

John Oharenko

Chicago, IL – Summer realty finance conditions stay hot, with lenders scouring the markets for funding opportunities, according to The Real Estate Capital Institute® (RECI). 

 In addition to larger, institutional loans, funding sources actively pursue smaller loans – typically ten million dollars or less.  Furthermore, deal flows remain strong because of low rates. 

Important current underwriting terms for smaller loans are discussed as follows:

Property Types:  Various types of residential (e.g., multifamily, home rentals) and industrial properties attract the most attention.  Lodging, retail, and office follow, with some types of credit enhancement often included, namely recourse.

Markets:  Like larger loans, lenders prefer major metro areas, but many sources (mainly banks) focus on secondary areas.  Funding pricing premiums of 25 to 50 basis points are standard for such smaller markets.

Pricing:  Smaller ten-year loans typically fall within the 200-to-250-basis-point range for conventional property types.  Properties underwritten to 1.25X+ debt service coverage and 65% or less loan-to-value attract the low end of the rate range.  Other commercial properties capture rates of 3.5% to 4.5%, reflecting a wide range of underwriting variance.

The Director at The Real Estate Capital Institute®, John Oharenko, advises, "Small loans are the lifeblood of lending for most communities.  Local lenders, especially banks and credit unions, offer the most competitive terms."

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

 

 CONTACT:

John Oharenko

john.oharenko@reci.com

Executive Director

director@reci.com / www.reci.com

 

JLL Capital Markets arranges $37 million loan for development of new luxury condominiums at Kite House at The Parks at Walter Reed in Washington, DC

 Susan Carras

 

 WASHINGTON, DC– JLL Capital Markets has arranged $37.308 million construction financing for the development of Kite House at The Parks at Walter Reed, a planned 109-unit condominium development with 11,000 rentable square feet of ground-floor retail in Washington, D.C.

Jamie Leachman

JLL worked on behalf of the borrower, a joint venture between Hines, Urban Atlantic, and Triden Development Group, to secure the three-year, floating-rate loan through Bank OZK. 

The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Directors Susan Carras and Jamie Leachman, Director Evan Parker and Analyst Andrew Lewis.

Grosvenor Americas provided a mezzanine debt commitment of $21.1 million for Kite House through its Structured Development Finance program.

 With first unit deliveries expected in early 2023, sales are planned to begin in February 2022.  

 Kite House is located at the intersection of Georgia Ave. NW and Elder St. NW, in the northern sector of The Parks at Walter Reed master-planned community. 

Andrew Lewis

The community will include 3.1 million square feet of mixed-use development across 66-acres. The community is a 10-minute walk to Rock Creek National Park and the Takoma Metro Station.

 Aditionally, the property is served by eight metrobus routes. The property is five miles from both downtown Washington, D.C. and downtown Bethesda and 1.5 miles from downtown Silver Spring. 

Additionally, the community is three miles from Capital Beltway (Interstate 495) offering direct access to the entire Washington, D.C. and Baltimore metropolitan region and rail connections such as Amtrak, MARC and VRE trains.

 “With the closing of Kite House, the development team continues to build out the transformational Parks at Walter Reed project,” said Leachman.  

“There was significant interest from the lending community with the recent success of the first condo project within The Parks at Walter Reed, The Brooks, as well as the proximity to the adjacent Whole Foods.”

  

CONTACT:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com