REAL ESTATE LAW

UOW goes Bollywood for festival fun

admin — Thu, 23 Feb 2012 09:20:00 +0000

Dust off your best sari and put on your dancing shoes! UOW is set to be transformed into Bollywood and everyone is invited to enjoy the colour, flavours and films of India.
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PhD Confirmation Seminar by Madelaine Chiam.

admin — Thu, 23 Feb 2012 08:29:32 +0000

Thesis Title: War-Talk: and Non-Law in Public Debate about War

Supervisors: Gerry Simpson and Ann Genovese

Please

United States: Dealing With Troubled Properties – Reinhart Boerner Van Deuren S.C.

admin — Wed, 22 Feb 2012 23:56:00 +0000

In a recent real estate update, I discussed approaches to working with lenders when a property has gone bad.

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Real Estate Tycoon Donald Abbey Lists Bradbury Behemoth With Beastly $78,000,000 Price Tag

admin — Wed, 22 Feb 2012 23:01:36 +0000

SELLER: Donald Abbey
LOCATION: Bradbury, CA
PRICE: $78,800,000
SIZE: 47,182 square feet (total), 5 bedrooms, 10 bathrooms

YOUR MAMAS NOTES: The 90210—that’s Beverly Hills butter beans—may get heaps of press and glory as one of Southern California’s most expensive and exclusive communities but it’s the much lesser known 91008 community of Bradbury where some of the country’s most expensive properties are bought and sold.

Believe it or not my little ponies but itty-bitty Bradbury, nestled into the rolling foothills of the San Gabriel Mountains a bit east of Pasadena and surrounded by far less affluent communities that include Duarte, Monrovia, and Azusa, is consistently ranked by the fine folks at Forbes as among the most expensive zip codes in all of the U-nited States of America. Although we did not spot the 91008 among the top 50 most expensive zips in the list compiled by Forbes for 2011, in 2009 Bradbury came in at #4 with a median home price of $3,44,773 and in 2010 the zip code ranked in at the #1 spot in 2010 with a staggering median home price of

Oprah-owned Penthouse at Place 57 Up for Grabs

admin — Wed, 22 Feb 2012 20:29:37 +0000

SELLER: Oprah Winfrey
LOCATION: New York City, NY
PRICE: $7,900,000
SIZE: 2,530 square feet, 3 bedrooms, 3.5 bathrooms

YOUR MAMAS NOTES: In January 2008 the juicy dish making its way down the New York City celebrity real estate gossip grapevine was that Oprah Winfrey’s b.f.f. Gayle King—currently the co-anchor of CBS This Morning—coughed up a very considerable 7.1 million clams to acquire a glassy penthouse pad atop a sleek, newly built Midtown Manhattan tower called Place 57.

When all the deeds and documents were finally filed and recorded a few months later it was revealed by the New York Observer that the penthouse was more likely bought by Miz Winfrey and not Miz King. The evidence cited included that the names two of Miz Winfrey’s known associates—accountant Lisa Gardina and Aspen-based attorney Gideon Kaufman—are listed in the purchase documents. However, in truth, Mister Kaufman’s name also appears on the deeds and docs for Miz King’s 10,000-plus square foot mansion in bucolic and baronial Greenwich, CT. More telling perhaps, as noted in the New York Observer and elsewhere, the Place 57 penthouse was purchased through a trust that seems to have been named after Miz Winfrey’s beloved (but now deceased) cocker spaniel Sophie.

It was all very confusing, as these things sometimes are, but in spring 2011 Miz King invited the
cameras of decorator turned talk show hostess Nate Berkus for a somewhat limited tour of her New York City residence and the apartment shown is most certainly not the nearly all-glass penthouse pad on East 57th Street.

Anyhoodles poodles, late last night while grappling with a little insomnia Your Mama stumbled across the Oprah-owned penthouse at Place 57, now back on the market with an asking price of $7,900,000.

Current listing information shows the 36th floor spread has 3 bedrooms and 3.5 bathrooms, 2,530 square feet of glass-wrapped interior space, and an additional 750-ish square foot wrap-around terrace with pulse racing and knee-bucking city views. Listing information shows the monthly common charges and taxes come up to a hefty but hardly unheard of $4,958 per month, more money than most people earn in a month but a relative pittance for a woman of Miz Winfrey’s extraordinary riches.

The apartment, blessed with lofty 12-foot high ceiling, opens into an unforgivably slender, chute-like entrance hall that explodes in to a scalene triangle shaped dining and living space where two long walls of floor-to-ceiling glass converge in a (melo)dramatic (and perhaps a wee bit ham-handed) manner to provide a gigantic, birds-eye view that stretches from the George Washington Bridge, over Central Park, west towards New Jersey and south to the glittering towers of Midtown.

A swinging door in the dining area swings open to a light, bright, modern and expensively equipped but somewhat petite kitchen finished with flat-fronted cabinetry (that may or may not be white oak), charcoal-colored counter tops of unknown material, and chunky center island that does not, we note with chagrin and surprise, have a built-in breakfast bar component.

Two guest/family bedrooms, one with private bathroom the other with access to a hall bath as per the floor plan included with current listing information, occupy the northeast wing of the aerie. A short corridor behind the kitchen and off the entrance hall has a stacked washer/dryer closet and connects to the relatively petite master suite occupies that the southeast wing and includes three walk-in closets (two with windows), a spa-style pooper with jetted tub, separate shower and cubby for the terlit and bee-day.

The unfurnished penthouse gleams with newness and looks to Your Mama’s admittedly tired and boozy eyes like it’s never been lived in. Of course, we don’t know a pea hen from a microwave oven so we really haven’t an iota if Miz Winfrey—or Miz King or anyone else for that matter—ever spent a single night up in the Place 57 penthouse. For all we know the all but undecorated penthouse was used for little more than cocktail parties. Listing information does reveal, however, the walnut floors are “brand new” and the “state-of-the-art” kitchen is “barely used,” language that indicates Miz Winfrey (or somebody) did at least a little cooking up in that kitchen.

Two guest/family bedrooms, one with private bathroom the other with access to a hall bath as per the floor plan included with current listing information, occupy the northeast wing of the aerie and the relatively petite master suite occupies the southeast wing and includes three walk-in closets (two with windows), a spa-style pooper with jetted tub, separate shower and cubby for the terlit and bee-day.

The Place 57 tower, located between 2nd and 3rd Avenues in the no-man’s land between Fifth Avenue and Sutton Place, has a Vincente Wolf-designed Baccarat Crystal Lobby, whatever that is, and offers residents white glove services that include 24-7 doorman and concierge services, a fully equipped fitness center, thematically designed children’s playrooms, residents-only conference rooms, and a Baccarat Crystal Garden, whatever the decorative devil that is.

As mentioned earlier, Miz King owns a 10,000-plus square foot mansion in Greenwich, CT she unsuccessfully attempted to sell back in June 2008 when it was listed with a $7,450,000 price tag. Although we can’t be certain, it does not appear that Miz King’s krib in Connecticut is currently on the (open) market.

Miz Winfrey, as billionaires typically do, owns a number of other high priced and high maintenance properties that include (but are not necessarily limited to) a four-unit duplex at the Water Tower Place complex in downtown Chicago, a plantation-style mansion on the island of Maui in Hawaii, and a massive 23,000 square foot mansion on 42-manicured acres in supah-swank Montecito, CA she picked up in 2001 for a mind altering $50,000,000.

Miz Winfrey also owns a number of small (and not so small) homes and condos in places like Douglasville, GA, Franklin, TN, Merrillville, IN and Elmwood Park, IL all of which we presume were acquired for use by various family members and/or close personal friends.

In 2007 Miz Winfrey dropped $5,600,000 on a 4,607 square foot condominium with 2 bedrooms, 3 full and 2 half bathrooms, and 2 car parking in a particularly posh Beaux Arts-style building in Chicago’s swanky Streeterville neighborhood. The former chat show superstar, media mogul and generous global do-gooder reportedly never moved into the apartment that she put up for sale for about 6 months in 2008 for $6,000,000 and put up for lease late last year (2011) at $15,000 per month. The 6th floor Lake Shore Drive apartment remains listed for lease at $15,000 per month.

listing photos and floor plan: Corcoran

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Woolwich launches five-year ‘hybrid’ mortgage that’s a tracker and a fixed rate

admin — Wed, 22 Feb 2012 17:59:41 +0000

For the first two years, the Woolwich five-year tracker-to-fix mortgage home loan will track base rate before switching to a fix, but there are better similar deals out there.

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Life at UOW on full display at O-Week festival

admin — Wed, 22 Feb 2012 10:27:00 +0000

New students are enjoying their first taste of university life this week as they join the fun of UOW’s O-Week orientation festival.
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To challenge a patent

admin — Wed, 22 Feb 2012 07:00:00 +0000

Associate Professor Kimberlee Weatherall discusses the Federal Court case in which Cancer Voices Australia is challenging a patent owned by Myriad Genetics relating to gene mutations that cause women to be more susceptible to breast cancer.

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Bacon and Sedgwick Snag West Coast Pied a Terre

admin — Wed, 22 Feb 2012 00:24:42 +0000

BUYERS: Kevin Bacon and Kyra Sedgwick
LOCATION: Los Angeles, CA
PRICE: $2,500,000
SIZE: 3 bedrooms, 3.5 bathrooms

YOUR MAMAS NOTES: We know we aren’t the first property gossip to ride this particular bull at the celebrity real estate rodeo—that honor goes to a long-legged gal at Trulia—but we’re giving a go around anyways…

Some of the many high profile people and celebrities who lost their proverbial shirts in the dirty terlit swirl that developed after the implosion of disgraced Wall Streeter Bernie Madoff’s pernicious Ponzi scheme were long-married actors Kevin Bacon and Kyra Sedgwick.

Obviously Your Mama ain’t privy to the exact amount of dough lost by Mister Bacon and Miz Sedgwick but it was significant enough that she described the pocketbook punishment in 2009 to the people at People as “painful.” Miz Sedgwick went on to point out that many “lost a lot more” and acknowledged that despite their losses she and Mister Bacon “have a lot of things to be grateful for.” That there, children, is some capital C Celebrity Class for y’all. The lady showed her fans the respect of honesty about her situation and humbly recognized she remains one of the financially and professionally fortunate.

Anyhoo, whatever pecuniary pinch they may have felt due to Old Man Madoff’s Machiavellian monetary maneuvers seems to have been rectified as evidenced, perhaps, by the $2,500,000 the East Coast-based couple coughed up in early December (2011) to acquire a very contemporary pied-a-terre in Los Angeles, CA. Certainly the Showbiz veterans have together and separately spent a great deal of time in Los Angeles but this is, as far as Your Mama knows, the first residence Miz Sedgwick and/or Mister Bacon have owned in Tinseltown.

Records we peeped reveal the property, which cleaves a steep hillside and offers a direct view across a wide canyon to the south slope of Mount Hollywood and the gorgeous Griffith Park Observatory, was sold by Lia Vollack, a hard-charging music/film industry executive who showed up in January (2012) at a very respectable number 51 on the Billboard Power 100. Miz Vollack purchased the property, as per Property Shark, in March 2007 for $2,450,000.

Not all online listings for the property indicate the square footage of the two-and-some story hill climber but the Los Angeles County Tax Man puts it at 2,760 square feet, a figure that may or may not be accurate. Trulia shows the house has 2 bedrooms and 3 bathrooms while listing information on Redfin states the updated, upgraded and fully re-worked residence was originally built in 1957 and contains a total of 3 bedrooms and 3.5 bathrooms, a count we’re pretty sure (but not certain) includes the lower level guest suite and separate flex-use space suitable for use as any number of things such as (but far from limited to) an office, gym, Zumba studio or model train making workshop.

A set of concrete steps climb from the street up the lushly landscaped hillside to the front door, an over-sized wood and glass thing that looks to Your Mama like it may have been inspired by Frank Lloyd Wright or some such person. The airy, light-filled lower level through entry has some sort of tile underfoot we suspect is limestone or some other luscious material and not some plain old ceramic stuff. A floating, geometrically-minded switchback staircase dramatically constructed with a glass, wood and steel framework and what may or may not be terrazzo treads connects to the main living/entertaining spaces on the upper level.

The open plan space has an architecturally warm palette of wood and stone and includes a step down “formal” living area with chunky stacked stone fireplace, expensive looking hardwood floors—teak? mahogany? ipe?—the run perpendicular to the wood slats on the high pitched ceiling, and two walls of floor-to-ceiling wood-framed glass sliders that provide tree top, canyon and Griffith Park Observatory views.

For better or worse, a grid of pot lights stand in stead of a proper chandelier or pendant fixture in the terrazzo-floored “formal” dining area that’s open to the well-equipped kitchen over a boxcar-sized center work island with breakfast bar. The adjoining family room/den has built-in bookcases along one entire wall and on another a row wood-framed sliders that lead to a terrace tucked into the hillside with built-in barbecue center behind which a cantilevered staircase winds up to a brilliant roof deck with panty-dropping view across the canyon to the Griffith Park Observatory.

The master bedroom itself, in which the previous owner quite curiously installed deep periwinkle wall-to-wall carpeting, isn’t particularly large but does includes a variety of choice amenities such as a sky light or two, a bank of floor-to-ceiling windows that slide open to a balance beam-slim balcony with canyon and Griffith Park Observatory views and, as per listing information, his and her closets and bathrooms.

A little known addendum to Your Mama’s Big Book of Decorating Do’s and Don’ts offers the children additional anecdotal guidance on the mercurial art of harmonious and stylish living. Suggestion 1 says, of course, “A well-stocked booze cabinet is a person’s best defense against loneliness and isolation since even the least self-destructive hooch hound will drive ten or maybe even 12 miles out of his or her way for a few free drinks.”

Suggestion 7 reads, “Everyone needs their own private Idaho to store their undergarments and outer fashions. If (and always when) space allows, cohabitating couples, those married before God and government and otherwise, ought not share closet space or dresser drawers.” Your Mama—who is all but slovenly—and the Dr. Cooter—who is decidedly not—would surely be divorced by now iffin we had to share closets. But we digress.

Both the “formal” living and dining areas open through wide expanses of windows to the adult-oriented outdoor areas that include a small, free-form swimming pool, raised spa set into flagstone terracing and, at the front of the property, a lounging deck eclipsed by a dead-on view of—you got it—the Griffith Park Observatory.

Property records and other online databases show Miz Sedgwick and Mister Bacon also maintain a couple of homes on the east coast that include a roughly 40-acre rural spread in Sharon, CT it appears they scooped up in the late 1990s as well as a sprawling high-floor co-operative apartment in a particularly stunning Beaux Arts building built in 1906 and situated directly across the street from Central Park.

listing photos: The Agency via Trulia

Daphne Guinness At Home

admin — Wed, 22 Feb 2012 00:24:38 +0000

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