One thing about the credit crunch – it is certainly providing some good real estate porn, and perhaps a few deals for those with cash in hand.
Scotland's most expensive foreclosure
The most expensive foreclosure in Scotland is still for sale, and here are a few interesting properties along with the appropriate gossip.
Charlemagne's Castle in Tuscany
Country Life reports that a castle once owned by Charlemagne, King of the Franks has been put up for sale, although I understand it has been on the market for some time so…… Current asking price E13 million, but probably open to offers. Charlemagne’s castle.
Plaza Penthouse
Andrei Vavilov, the Russian oligarch who sued the Plaza in an attempt to get out of a commitment to buy a two unit penthouse has caved and accepted a smaller unit. Vavilov had placed an $11 million deposit, but claimed “The completed Penthouses utterly fail to live up to the representations of [developer] El-Ad to Plaintiffs of superior condition, quality, and overall appearance.” There were “unobstructed floor to ceiling windows”! And “lower than represented ceiling heights”! And “unappealing drainage grates which further impeded Plaintiffs’ views!” The Observer.
He instead accepted a 2,906 ftsq unit in exchange. Which is now up for sale – at $12.5 million. According to the listing agent, Brown Harris Stevens, the apartment has been transformed magically into a “one of a kind home,” with “luxurious ameneties.” All a matter of perspective I suppose………
The Mansion, Storthes Hall Lane
The Mansion, Storthes Hall Park, a Grade II listed Georgian Mansion in England, near Huddersfield has been knocked down in price by £500,000 to £3.5 million. The Times thinks it is a bargain, myself – I am not so sure, maybe later on in the year….
