Yesterday we posted about the Herb Ritts estate open house, seduced we were by the pretty, pretty pictures and those expansive city views. Well, it seems the brokers may have been overstating (and overpricing) the place. We're as shocked as you are, since we place blind faith in their honesty and integrity.
Our property guru writes in with the low down on the estate. Apparently the house has been on the market for a while, and has had about a dozen or more open houses. The broker even took a reduction of $250,000 from the original asking price. And its been out of Herb Ritts Estate's hands for a while - belonging to a professional real estate flipper after Ritts and currently owned by a CAA power couple.
After the jump, our property guru gives us the walk-through.
Inside, its clean and new, but the flow is not good for a $5 million plus house. The dining room was chosen for the city views, rather than proximity to the kitchen (you have to walk through a screening room of sorts). Same with the master suite downstairs. The smaller view-driven room was chosen, rather than build a 2,000 sq/ft+ "En suite" master in the back of the second floor, which is currently the kids room, office, bath and closets. House also feels "staged" even though its lived in. The gem is the almost acre lot, the pool area and the second Viking/Sub-Zero quality outdoor kitchen.
Clearly, if it was priced/staged right, it would be sold by now... Every young celeb in the would has been though it. Its too sophisticated for the Lindsey Lohans of the world and too flat and cold for those with more taste and maturity. And its not big. $4.5 million is the right price.
So there you have it folks. The money you save in the price reduction can go towards the cleansing ritual necessary to purify the evil agent mojo that permeates the property.