Besides polo, Ferraris and fine dining, the wealthy elite of the world now have another common cause uniting them—London is slapping a higher stamp duty on properties valued over £2 million (it’s going from 5 to 7 percent). Worse yet, those who use offshore corporations to buy must pay a 15 percent tax bill, reports The New York Times. Read More
Lifestyles of the Rich and Famous
It looks like he may be angling for a little resident respect when he vies for one of the state’s new casino licenses. And we thought he was still smarting over the loss of his old place at the Plaza! Read More
Ever wonder what a Central Park view—that most coveted of coveted features, that most desirable of desirable details—actually translates to in terms of cold, hard cash?
Quite a lot, in fact. Apartments with Central Park views fetch more than twice as much as surrounding apartments, The Wall Street Journal reports. And if you just look at co-ops it’s three times as much!
Forget the waterfront. All New Yorkers care about is tree line, tree line, tree line. Read More
Forget painting the walls or baking cookies before an open house. Sales techniques like that are for amateurs. Law and Order: SVU star Christopher Meloni will throw in a 2012 Porsche Panamera Hybird for the buyer of his $12 million Midtown apartment, Curbed reports.
Hey! That’s a way better door prize than a t-shirt or one of those tote bags that aren’t even made out of cotton these days. Read More
Although they once dabbled in typical heiress hobbies like launching fashion lines, modeling and appearing on reality TV shows, the Ecclestone sisters have now turned their attention to more mature projects—buying up ultra luxury homes, the Wall Street Journal reports.
Tamara, 27, and Petra, 23, are dipping into the family fortune built by their dad, Formula 1 boss Bernie Ecclestone, to play the big girl version of Barbie dream house. Read More
As if living in a beautifully-decorated brownstone or loft weren’t reward enough. Now the wealthy residents of such spaces can supplement their already sizable incomes by renting out their stunning, sunlit spaces for photo shoots.
With the damning revelation that Mitt Romney wants to remodel his La Jolla beach house to include an elevator for cars and an underground lair to rival Dr. No, the presidential candidate will once again have to account for the fact he has a vast fortune and many lavish possessions.
While the question of whether or not Mr. Romney’s riches will come between him, the people and the presidency remains to be seen, The Observer couldn’t help wondering why Mr. Romney, who has six houses (and unlike John McCain, can remember them all), does not own that real estate crown jewel—a pied-à-terre in New York. Read More
There’s a battle brewing over Gracie Mansion. Mayor Michael Bloomberg doesn’t live there and he doesn’t think anyone else should either.
“The mayor should not live there,” Mayor Bloomberg flatly told The Times. Mayors should sleep on their own dimes, just as he, and all other city employees do, the mayor, who has many many more dimes than most people, explained. Read More
Before Megaupload founder Kim Dotcom was arrested last month, he was living in $18 million mansion in New Zealand, which he was renting.
He had purchased $8 million in New Zealand government bonds in an attempt to get the nonresident permission he needed to buy the place but he failed the country’s “good character” test, according to a profile of Mr. Dotcom in Businessweek today. Read More