Petra Ecclestone reportedly buys Spelling estate for a mere $85 million

[n2doc]

June 15, 2011 | 11:07 am


Petra Ecclestone, a 22-year-old British heiress, has reportedly bought Candy Spelling's Holmby Hills estate, the most expensive residential listing in the United States.

"The Manor," as the late TV producer Aaron Spelling's 56,500-square-foot home is known, has been on the market at $150 million for more than two years, according to reports Tuesday.

Though Candy had held firm on the asking price over the years, sources told TMZ the place went into escrow at $85 million. Now do we all believe housing prices have declined more steeply than during the Great Depression?

The daughter of British Formula One exec Bernie Ecclestone, whose worth is estimated at $4 billion, is a sometime fashion designer. The Spelling joint was reportedly her second-choice mansion, poor thing.
more
http://latimesblogs.latimes.com/gossip/2011/06/petra-ecclestone-candy-spelling-tori-house-holmby-hills-estate.html

[JuniperLea]

1. I used to be able to look out my office window and see that estate...

Really spectacular from the 38th floor of a Century City skyscraper. The cut in price is consistent with most other property values in Los Angeles County... large and small estates.

My current office view is of Dodger Stadium... I'm hoping the Dodgers are sold soon as well... soon.

[Angry Dragon]

2. I would think every 22 year old woman needs a

56,500 sq ft home............

Gives Bristol something to work towards

[devilgrrl]

3. She worked really really hard to get where she is.

:sarcasm:

[n2doc]

5. Bootstraps! n/t

[gratuitous]

4. Red Alert! Red Alert! More tax cuts for the wealthy needed, stat!

Candy Spelling took a $65 million bath on her house! Could you afford to lose $65 million? I don't think so! We MUST cut taxes for the beleaguered wealthy, who are getting shafted by crafty foreigners buying up our showcase residences. Won't someone PLEASE think of the rich?

[ChairmanAgnostic]

14. the poor, poor rich. Always under attack. No way

to defend themselves.

[WinkyDink]

6. F1 is EXTREMELY lucrative, for ALL concerned.

[hifiguy]

7. Why is it that all of these starlets/socialites

who are clearly too damned dumb to do anything but inherit money or be paid to attend parties while looking (unsurprisingly) vacant always style themselves as "part time fashion designers?"

Somehow I don't think Armani or Calvin Klein is quaking in their expensive shoes at the thought of competition from them.

[Dreamer Tatum]

9. She's 22. I know you cured cancer by the time you were 22, but some others need time.

Criminy. Give the kid a break.

[JI7]

10. John Kerry saved the life of another soldier while fighting in a war and risking his own life

when he was in his 20s.

[Dreamer Tatum]

11. I ate a lot of tacos when I was in my 20's.

See? I can post non-sequiturs, too.

[JI7]

12. like your cure cancer bs to the other person

[lumberjack_jeff]

13. I think she's had enough breaks. n/t

[hifiguy]

15. +1 on that . Go out and

ACCOMPLISH something in the world other than winning the lucky sperm lottery before buying $100 million dollar houses while millions go homeless. Just reading the OP makes me want to fire up the tree chipper, and I am an F1 fan.

[Dawson Leery]

8. The Bush tax cuts needed to expire.

Actually, they should have never been.

[erpowers]

16. Fairly Stupid

When I first heard this story on CNN it was reported that Mrs. Ecclestone was a 22 year old fashion designer. They did not say "sometime fashion designer". As a result, I thought how long has she been a fashion designer in order to be able to buy a home listed at $150 million by 22. Later, I thought it was probably a stupid idea for a 22 year old fashion designer to buy such an expensive home. How was she supposed to afford to maintain the home. CNN did mention that her father was a Formula One executive, but they did not mention his net worth.

Now that I know her fathers net worth I can see how she is buying this home. She is not actually buying this home. Daddy is buying this home for his little girl. However, I think both Mrs. Ecclestone and her father are faily stupid. According to CNN Mr. Ecclestone bought another massively expensive home in England just to house his daugther's dogs.