The New York Times--via Bloomberg--turns its attention to those Candy brothers, those Brits that proposed a Richard Meier-designed building in Beverly Hills. First, here's the scene: "A black Maybach draws to a halt one morning in July, and two men step out onto the runway at London’s Biggin Hill Airport. Nick and Christian Candy ascend the stairs to their private jet, remove their Berluti shoes to safeguard the silk-and-wool carpet and settle in for the flight to Tuscany, where they’re overseeing the completion of the decks and interior of their new yacht, Candyscape II." The story goes on to state that the Candys "most serious miscalculation was the decision to buy an 8-acre development site in Beverly Hills, California, in 2007." After paying $500 million for the land at Wilshire and Santa Monica, the site is now worth less than $200 million, according to experts quoted in the Times.
Meanwhile, whey are they still flaunting the Candyscape II (more photos here) and the fancy carpet when Mexico wants its money back? Meanwhile, via This is Money, here's Nick Candy talking about the hassles of loaning out their first boat to friends:
"They used to rent out Candyscape to Hollywood celebrities and other super-rich but they've stopped, even though it seems criminal to forego £120,000 a week for doing nothing. 'The problem is it's like hiring out your own home,' he says. 'You feel weird going back, especially if it's been mistreated. I chartered it to someone I know personally and they and their kids were not very respectful. I pulled a blind down one day and there was green snot all over it. I said to the guy, "You'll have to pay for it," and he said, "Take it out of the tip I gave your captain."
· Candy Brothers, Designers for the Super-Rich, Wait Out London Property Slump [NYT]