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Matt Winkelmeyer/FilmMagic Dwayne “The Rock” Johnson wants to rock a sale of his horse property in Powder Springs, GA.
The Georgia spread landed on the market for $7.5 million.Â The A-lister faces a heavy lift with a potential sale and is prepped to take a loss. He bought the place in 2019 for over $9 million.
A sprawling 46-acre property, the parcel is dotted with multiple buildings and offers a rustic, upscale retreat.
Built in 2003, the 15,000-square-foot main house includes eight bedrooms and nine bathrooms, and features wide-plank, old-growth walnut flooring, stone fireplaces, high ceilings, and natural light.
The master suite sits on the main level and opens to a flat, walkout private backyard. The kitchen includes a breakfast bar, island, and stone counters, and looks out to the family room.
In addition, the floor plan includes a den, library, living room, office, gym, wine cellar, and a guest apartment.
On the grounds, there’s a pool, pool pavilion, two apartments, five-car garage, and grassy lawn.
The property also boasts a working 12-stall barn, a riding arena with viewing deck, a haybarn, and a 1867 farmhouse with a historic log cabin.
It’s located close to the popular Buckhead neighborhood and about 45 minutes from the Atlanta airport.
Itâs not clear whether the âFast and Furiousâ actor spent any time in this property at all over the short period of his ownership.
While he owned the place, he was renting a different home close to Atlanta, while he was shooting multiple movies there last year.
Watch: Sylvester Stallone’s Reported New Palm Beach Home Is a Knockout
The star posted a mea culpa showing that he had ripped out his front gate with his pickup, in a power outage that left him unable to open it as he was on his way to work.
“Maybe next time, I’ll just hop the gates and call an Uber,” he posted, before joking, “Actually, no, I won’t. There’s no fun in that.”
View this post on Instagram
Given that Forbes has named him the highest-paid actor in the world, weâre guessing that he was able to cover the cost of the repair.
Now, heâll also have to eat another couple of million dollars after deciding to let go of the equestrian estate for way less than he purchased it.
Johnson, known as âThe Rockâ from his wrestling days, starred in the âFast and Furiousâ movies and the âJumanjiâ franchise. The global star has two upcoming movies: âBlack Adamâ and âRed Notice.â
The post Rocky Times for The Rock? Dwayne Johnson Prepares To Take a Loss on Georgia Mansion appeared first on Real Estate News & Insights | realtor.comÂ®.
As part of his plan of leaving Los Angeles and moving his family to the Big Apple, Matt Damon has now listed his Pacific Palisades home for sale. And he’s hoping to cash in big from the sale, asking $21 million for the Zen-inspired contemporary home set in one of LA’s most desirable neighborhoods.
Recently listed with Eric Haskell, an agent with celebrity real estate brokerage The Agency, Matt Damon’s house is an architectural masterpiece with 7 bedrooms, 10 baths, tons of distinct design features and some pretty extraordinary amenities. The Academy Award-winning actor will be trading all this for a 6,000-square-foot penthouse in Brooklyn, New York, having broken records last year by paying $16.745 million for the top floor unit of a famous former hotel, The Standish.
An architectural gem with striking features & Instagram-worthy interiors
Designed by award-winning architect Grant Kirkpatrick, founding partner of leading-edge design studio KAA Design Group, Matt Damon’s house is an extraordinary contemporary home that showcases masterful craftmanship throughout its 13,508-square-foot interiors.
With a modern-yet-timeless design, the house is anchored by a breathtaking atrium with 35-foot mahogany vaulted ceilings. The interiors are bathed in natural light and mix warm wood elements with natural stone, giving the whole space an inviting, relaxing vibe. Other striking features that deserve a shout-out: clerestory windows and glass walls that fuse the indoors with the outdoor areas.
The family room opens to the magnificent chefâs kitchen with custom mahogany cabinetry, Bluestone countertops and stainless steel Viking, Wolf and Miele appliances. The kitchen then opens to the expansive backyard retreat (but more on that in a minute).
All in all, Matt Damon’s soon-to-be former Los Angeles abode packs 7 bedrooms and 10 baths across 13,508 square feet of space. The primary suite comes with its own private terrace, dual dressing rooms, massage room and a spa-style bath with soaking tub and expansive shower. Pretty much every room offers leafy property and treetop views, adding an extra note of serenity to this wonderfully Zen-inspired home.
Amenities galore and a wonderful backyard retreat
Most celebrity homes tend to outdo themselves when it comes to amenities and bonus rooms and Matt Damon’s house is no exception. Interior amenities include a game room, bar, office, gym, plush media room, staff quarters and wine storage and tasting room. And that’s just what you’ll find inside the house.
Outside, the modern home has quite a few amenities that invite calm and relaxation (perfectly in tune with the rest of the house), including an expansive pool, spa, a cascading waterfall, koi pond and Hawaiian-inspired Lanai with a covered lounge and alfresco dining terrace. To appeal to the little ones — Damon is a father of four — there’s also a nice childrenâs play area.
Matt Damon’s next home is vastly different from his Los Angeles digs
The Academy Award-winning actor, who is starring in the highly anticipated Ridley Scott-directed The Last Duel (to be released this year), will soon be leaving Los Angeles behind. The move has long been planned, with Damon and wife Luciana BozÃ¡n Barroso having purchased a Brooklyn Heights penthouse two years ago for a record-breaking price.
The couple paid $16.745 million for a 6-bedroom, 6,201-square-foot penthouse at The Standish — a historically significant converted building that was originally built in 1903 as a Beaux Arts hotel. At the time, Damon’s purchase set a new record for the borough, making him the owner of the most expensive property ever sold in Brooklyn.
Despite the fact that the penthouse consists of several units merged for extra space, the actor will be downsizing considerably. And the loss in square footage is matched by a significant downgrade in outdoor space — though it’s worth noting that Matt Damon’s new home does have an expansive terrace, a rarity for New York City. There’s no Zen backyard pool though, so we’re pretty sure the Good Will Hunting actor will, at times, miss his Pacific Palisades retreat.
More beautiful celebrity homes
Check Out this Beautiful House the Hemsworth Brothers Just Sold in Malibu
Wayne Gretzky is Selling his $22.9M California Home Designed by âThe Megamansion Kingâ
Morgan Brown Re-Lists Stunning West Hollywood Home Amid Split from Actor Gerard Butler
Chrissy Teigen & John Legend Buy $17.5M Beverly Hills Mansion
The post New to Market: Matt Damon’s Zen Los Angeles Home Asks $21 Million appeared first on Fancy Pants Homes.
Debt comes in all shapes and sizes. You can owe money to utility companies, banks, credit card providers, and the government. Thereâs student loan debt, credit card debt, mortgage debt, and much more. But what are the official categories of debt and how do the payoff strategies for these debts differ?
Categories of Debt
Debt is generally categorized into two simple forms: Secured and Unsecured. The former is secured against an asset, such as a car or loan, and means the lender can seize the asset if you fail to meet your obligations. Unsecured is not secured against anything, reducing the creditorâs control and limiting their options if the repayment terms are not met.
A secured debt provides the lender with some assurances and collateral, which means they are often prepared to provide better interest rates and terms. This is one of the reasons youâre charged astronomical rates for credit cards and short-term loans but are generally offered very favorable rates for home loans and car loans.
If the debtor fails to make payments on an unsecured debt, such as a credit card, then the debtor may file a judgment with the courts or sell it to a collection agency. In the first instance, itâs a lot of hassle without any guarantee. In the second, theyâre selling the debts for cents on the dollar and losing a lot of money. In either case, itâs not ideal, and to offset this they charge much higher interest rates and these rates climb for debtors with a poorer track record.
There is also something known as revolving debt, which can be both unsecured and secured. Revolving debt is anything that offers a continuous cycle of credit and repayment, such as a credit card or a home equity line of credit.Â
Mortgages and federal student loans may also be grouped into separate debts. In the case of mortgages, these are substantial secured loans that use the purchase as collateral. As for federal student loans, they are provided by the government to fund education. They are unsecured and there are many forgiveness programs and options to clear them before the repayment date.
What is a Collection Account?
As discussed above, if payments are missed for several months then the account may be sold to a debt collection agency. This agency will then assume control of the debt, contacting the debtor to try and settle for as much as they can. At this point, the debt can often be settled for a fraction of the amount, as the collection agency likely bought it very cheaply and will make a profit even if it is sold for 30% of its original balance.
Debt collectors are persistent as thatâs their job. They will do everything in their power to collect, whether that means contacting you at work or contacting your family. There are cases when they are not allowed to do this, but in the first instance, they can, especially if theyâre using these methods to track you down and they donât discuss your debts with anyone else.
No one wants the debt collectors after them, but generally, you have more power than they do and unless they sue you, thereâs very little they can do. If this happens to you, we recommend discussing the debts with them and trying to come to an arrangement. Assuming, that is, the debt has not passed the statute of limitations. If it has, then negotiating with them could invalidate that and make you legally responsible for the debt all over again.
Take a look at our guide to the statute of limitations in your state to learn more.
As scary as it can be to have an account in collections, itâs also common. A few years ago, a study found that there are over 70 million accounts in collections, with an average balance of just over $5,000.
Can Bankruptcy Discharge all Debts?
Bankruptcy can help you if you have more debts than you can repay. But itâs not as all-encompassing as many debtors believe.
Chapter 7 bankruptcy will discharge most of your debts, but it wonât touch child support, alimony or tax debt. It also wonât help you with secured debts as the lender will simply repossess or foreclose, taking back their money by cashing in the collateral. Chapter 13 bankruptcy works a little differently and is geared towards repayment as opposed to discharge. You get to keep more of your assets and in exchange you agree to a payment plan that repays your creditors over 3 to 5 years.
However, as with Chapter 7, you canât clear tax debts and you will still need to pay child support and alimony. Most debts, including private student loans, credit card debt, and unsecured loan debt will be discharged with bankruptcy.
Bankruptcy can seriously reduce your credit score in the short term and can remain on your credit report for up to 10 years, so itâs not something to be taken lightly. Your case will also be dismissed if you canât show that you have exhausted all other options.
Differences in Reducing Each Type of Debt
The United States has some of the highest consumer debt in the world. It has become a common part of modern life, but at the same time, we have better options for credit and debt relief, which helps to balance things out a little. Some of the debt relief options at your disposal have been discussed below in relation to each particular type of long-term debt.
The Best Methods for Reducing Loans
If youâre struggling with high-interest loans, debt consolidation can help. A debt consolidation company will provide you with a loan large enough to cover all your debts and in return, they will give you a single long-term debt. This will often have a smaller interest rate and a lower monthly payment, but the term will be much longer, which means youâll pay much more interest overall.
Debt management works in a similar way, only you work directly with a credit union or credit counseling agency and they do all the work for you, before accepting your money and then distributing it to your creditors.
Both forms of debt relief can also help with other unsecured debts. They bring down your debt-to-income ratio, leave you with more disposable income, and allow you to restructure your finances and get your life back on track.
The Best Methods for Reducing Credit Cards
Debt settlement is the ultimate debt relief option and can help you clear all unsecured debt, with many companies specializing in credit card debt.Â
Debt settlement works best when you have lots of derogatory marks and collections, as this is when creditors are more likely to settle. They can negotiate with your creditors for you and clear your debts by an average of 40% to 60%. You just need to pay the full settlement amount and the debt will clear, with the debt settlement company not taking their cut until the entire process has been finalized.
A balance transfer can also help with credit card debt. A balance transfer credit card gives you a 0% APR on all transfers for between 6 and 18 months. Simply move all of your credit card balances into a new balance transfer card and then every cent of your monthly payment will go towards the principal.
The Best Methods for Reducing Secured Debts
Secured debt is a different beast, as your lender can seize the asset if they want to. This makes them much less susceptible to settlement offers and refinancing. However, they will still be keen to avoid the costly foreclosure/repossession process, so contact them as soon as youâre struggling and see if they can offer you anything by way of a grace period or reduced payment.
Most lenders have some form of hardship program and are willing to be flexible if it increases their chances of being repaid in full.
Different Types of Debt is a post from Pocket Your Dollars.
One of the harsh truths of secured loans is that your asset can be repossessed if you fail to make the payments. In the words of the FTC, âyour consumer rights may be limitedâ if you miss your monthly payments, and when that happens, both your financial situation and your bank balance will take a hit.
On this guide, weâll look at what can happen when you fall behind on your car payments, and how much damage it can do to your credit score.
What is a Car Repossession?
An auto loan is a loan acquired for the sole purpose of purchasing a car. The lender covers the cost of the car, you get the vehicle you want, and in return you pay a fixed monthly sum until the loan balance is repaid.
If you fail to make to make a payment or youâre late, the lender may assume possession of your car and sell it to offset the losses. At the same time, they will report your missed and late payments to the main credit bureaus, and your credit score will take a hit. Whatâs more, if the sale is not enough to cover the remainder of the debt, you may be asked to pay the residual balance.
The same process applies to a title loan, whereby your car is used as collateral for a loan but isnât actually the purpose of the loan.
To avoid repossession, you need to make your car payments on time every month. If you are late or make a partial payment, you may incur penalties and itâs possible that your credit score will suffer as well. If you continue to delay payment, the lender will seek to cover their costs as quickly and painlessly as possible.
How a Repossession Can Impact Your Credit Score
Car repossession can impact your credit history and credit score in several ways. Firstly, all missed and late car payments will be reported to the credit bureaus and will remain on your account for up to 7 years. They can also reduce your credit score.Â
Secondly, if your car is repossessed on top of late payments, you could lose up to 100 points from your credit score, significantly reducing your chances of being accepted for a credit card, loan or mortgage in the future.Â
And thatâs not the end of it. If you have had your car for less than a couple of years, thereâs a good chance the sale price will be much less than the loan balance. Car repossession doesnât wipe the slate clean and could still leave you with a sizable issue. If you have a $10,000 balance and the car is sold for $5,000, you will owe $5,000 on the loan and the lender may also hit you with towing charges.
Donât assume that the car is worth more than the value of the loan and that everything will be okay. The lender isnât selling it direct; they wonât get the best price. Repossessed vehicles are sold cheaply, often for much less than their value, and in most cases, a balance remains.Â
Lenders may be lenient with this balance as itâs not secured, so their options are limited. However, they can also file a judgment or sell it to a collection agency, at which point your problems increase and your credit score drops even further.
How Does a Repo Take Place?
If you have a substantial credit card debt and miss a payment, your creditor will typically take it easy on you. They canât legally report the missed payment until at least 30-days have passed and most creditors wonât sell the account to a collection agency until it is at least 180-days overdue.
This leads many borrowers into a false sense of security, believing that an auto loan lender will be just as forgiving. But this is simply not true. Some lenders will repo your car just 90-days after your last payment, others will do it after 60 days. They donât make as many allowances because they donât need toâthey can simply seize your asset, get most of the money back, and then chase the rest as needed.
Most repossessions happen quickly and with little warning. The lender will contact you beforehand and request that you pay what you owe, but the actual repo process doesnât work quite like what you may have seen on TV.Â
Theyâre not allowed to break down your door or threaten you; theyâre not allowed to use force. And, most of the time, they donât need to. If they see your car, they will load it onto their truck and disappear. Theyâre so used to this process that they can typically do it in less than 60-seconds.
It doesnât matter whether youâre at home or at workâyou just lost your ride.
What Can You Do Before a Repo Hits Your Credit Score?
Fortunately, there are ways to avoid the repo process and escape the damage. You just need to act quickly and donât bury your head in the sand, as many borrowers do.
Request a Deferment
An auto loan lender wonât waste as much time as a creditor, simply because they donât need to. However, they still understand that they wonât get top dollar for the car and are generally happy to make a few allowances if it means you have more chance of meeting your payments.
If you sense that your financial situation is on the decline, contact your lender and request a deferment. This should be done as soon as possible, preferably before you miss a payment.
A deferment buys you a little extra time, allowing you to take the next month or two off and adding these payments onto the end of the term. The FTC recommends that you get any agreement in writing, just in case they renege on their promise.
One of the best ways to avoid car repossession, is to refinance your loan and secure more favorable terms. The balance may increase, and youâll likely find yourself paying more interest over the long-term, but in the short-term, youâll have smaller monthly payments to contend with and this makes the loan more manageable.
You will need a good credit score for this to work (although there are some bad credit lenders) but it will allow you to tweak the terms in your favor and potentially improve your credit situation.
Sell the Car Yourself
Desperate times call for desperate measures; if youâre on the brink of facing repossession, you should consider selling the car yourself. Youâll likely get more than your lender would and you can use this to clear the balance.Â
Before you sell, calculate how much is left and make sure the sale will cover it. If not, you will need to find the additional funds yourself, preferably without acquiring additional debt. Ask friends or family members if they can help you out.
How Long a Repo Can Affect Your Credit Score
The damage caused by a repossession can remain on your credit score for 7 years, causing some financial difficulty. However, the damage will lessen over time and within three or four years it will be negligible at best.
Derogatory marks cease to have an impact on your credit score a long time before it disappears off your credit report, and itâs the same for late payments and repossessions.
Still, that doesnât mean you should take things lightly. The lender can make life very difficult for you if you donât meet your payments every month and donât work with them to find a solution.
What About Voluntary Repossession?
If youâre missing payments because youâve lost your job or suffered a major change in your financial circumstances, it may be time to consider voluntary repossession, in which case there are no missed payments and you donât need to worry about repo men knocking on your door or coming to your workplace.
With voluntary repossession, the borrower contacts the lender, informs them they can no longer afford the payments, and arranges a time and a place to return the car. However, while this is a better option, it can do similar damage to the borrowerâs credit score as a voluntary repossession, like a traditional repossession, is still a defaulted loan.
Missed payments aside, the only difference concerns how the repossession shows on the borrowerâs credit report. Voluntary repossession will look better to a creditor who manually scans the report, but the majority of lenders run automatic checks and wonât notice a difference.
Summary: Act Quickly
If you have student loan, credit card, and other unsecured debt, a repo could reduce your chances of a successful debt payoff and potentially prevent you from getting a mortgage. But itâs not the end of the world. You can get a deferment, refinance or reinstate the loan, and even if the worst does happen, it may only take a year or so to get back on track after you fix your financial woes.
Repossession Credit Scores: What You Need to Know is a post from Pocket Your Dollars.
Look at you, so responsible. You received a financial windfall â stimulus check, tax refund, work bonus, inheritance, whatever â and youâre using it to pay off one of your debts years ahead of schedule.
Good for you! Exceptâ¦ make sure you donât get charged a prepayment penalty.
Now wait just a minute, you say. Iâm paying the money back early â early! â and my lender thanks me by charging me a fee?
Well, in some cases, yes.
A prepayment penalty is a fee lenders use to recoup the money theyâll lose when youâre no longer paying interest on the loan. That interest is how they make their money.
But you can avoid the trap â or at least a big payout if youâve already signed the loan contract. Weâll explain.
What Is a Loan Prepayment Penalty?
A prepayment penalty is a fee lenders charge if you pay off all or part of your loan early.
Typically, a prepayment penalty only applies if you pay off the entire balance â for example, because you sold your car or are refinancing your mortgage â within a specific timeframe (usually within three years of when you accepted the loan).
In some cases, a prepayment penalty could apply if you pay off a large amount of your loan all at once.
Prepayment penalties do not normally apply if you pay extra principal in small chunks at a time, but itâs always a good idea to double check with the lender and your loan agreement.
What Loans Have Prepayment Penalties?
Most loans do not include a prepayment penalty. They are typically applied to larger loans, like mortgages and sometimes auto loans â although personal loans can also include this sneaky fee.
Credit unions and banks are your best options for avoiding loans that include prepayment penalties, according to Charles Gallagher, a consumer law attorney in St. Petersburg, Florida.
Unfortunately, if you have bad credit and canât get a loan from traditional lenders, private loan alternatives are the most likely to include the prepayment penalty.
If your loan includes a prepayment penalty, the contract should state the time period when it may be imposed, the maximum penalty and the lenderâs contact information.
âThe more opportunistic and less fair lenders would be the ones who would probably be assessing [prepayment penalties] as part of their loan terms,â he said, âI wouldnât say loan sharkingâ¦ but you have to search down the list for a less preferable lender.â
Prepayment Penalties for Mortgages
Although youâll find prepayment penalties in auto and personal loans, a more common place to find them is in home loans. Why? Because a lender who agrees to a 30-year mortgage term is banking on earning years worth of interest to make money off the amount itâs loaning you.
That prepayment penalty can apply if you want to pay off your loan early, sell your house or even refinance, depending on the terms of your mortgage.
However, if there is a prepayment penalty in the contract for a more recent mortgage, there are rules about how long it can be in effect and how much you can owe.
The Consumer Financial Protection Bureau ruled that for mortgages made after Jan. 10, 2014, the maximum prepayment penalty a lender can charge is 2% of the loan balance. And prepayment penalties are only allowed in mortgages if all of the following are true:
- The loan has a fixed interest rate.
- The loan is considered a âqualified mortgageâ (meaning it canât have features like negative amortization or interest-only payments).
- The loanâs annual percentage rate canât be higher than the Average Prime Offer Rate (also known as a higher-priced mortgage).
So suppose you bought a house last year and then wanted to sell your home. If your mortgage meets all of the above criteria and has a prepayment penalty clause in the mortgage contract, you could end up paying a penalty of 2% on the remaining balanceÂ â for a loan you still owe $200,000 on, that comes out to an extra $4,000.
Prepayment penalties apply for only the first few years of a mortgage â the CFPBâs rule allows for a maximum of three years. But again, check your mortgage agreement for your exact terms.
The prepayment penalty wonât apply to FHA, VA or USDA loans but can apply to conventional mortgages â although the penalty is much less common than it was before the CFPBâs ruling.
âItâs more of private loans â loans for people whoâve maybe had some struggles and canât qualify for a Fannie or Freddie loan,â Gallagher said. âThat block of lending is the one going to be most hit by this.â
How to Find Out If a Loan Will Have a Prepayment Penalty
The best way to avoid a prepayment penalty is to read your contract â or better yet, have a professional (like an attorney or CPA) who understands the terminology, review it.
âYou should read the entirety of the loan, as painful as that sounds, because lenders may try to hide it,â Gallagher said. âGenerally, it would be under repayment terms or the language that deals with the payoff of the loan or selling your house.â
Gallagher rattled off a list of alternative terms a lender could use in the contract, including:
- Sale before a certain timeframe.
- Refinance before a term.
- Prepayment prior to maturity.
âThey avoid using the word âpenalty,â obviously, because that would give a reader of the note, mortgage or the loan some alarm,â he said.
If youâre negotiating the terms â as say, with an auto loan â donât let a salesperson try to pressure you into signing a contract without agreeing to a simple interest contract with no prepayment penalty. Better yet, start by applying for a pre-approved auto loan so you can get a pro to review any contracts before you sign.
Do you have less-than-sterling credit? Watch out for pre-computed loans, in which interest is front-loaded, ensuring the lender collects more in interest no matter how quickly you pay off the loan.
If your lender presents you with a contract that includes a prepayment penalty, request a loan that does not include a prepayment penalty. The new contract may have other terms that make that loan less advantageous (like a higher interest rate), but youâll at least be able to compare your options.
How Can You Find Out if Your Current Loan Has a Prepayment Penalty?
If a loan has a prepayment penalty, the servicer must include information about the penalty on either your monthly statement or in your loan coupon book (the slips of paper you send with your payment every month).
You can also ask your lender about the terms regarding your penalty by calling the number on your monthly billing statement or read the documents you signed when you closed the loan â look for the same terms mentioned above.
What to Do if Youâre Stuck in a Loan With Prepayment Penalty
If you do discover that your loan includes a prepayment penalty, you still have some options.
First, check your contract.
If youâll incur a fee for paying off your loan early within the first few years, consider holding onto the money until the penalty period expires.
If you donât have a loan with a prepayment penalty, contact your lender before sending additional money to ensure your payment is going toward principal â not interest or fees.
Additionally, although you may get socked with a penalty for paying off the loan balance early, itâs likely you can still make extra payments toward the balance. Review your contract or ask your lender what amount will trigger the penalty, Gallagher said.
If youâre paying off multiple types of debt, consider paying off the accounts that do not trigger prepayment penalties â credit cards and federal student loans donât charge prepayment penalties.
By using techniques like the debt avalanche, debt snowball and debt lasso methods, you can tackle your other debts while giving yourself time to let a prepayment penalty period expire.
Tiffany Wendeln Connors is a staff writer/editor at The Penny Hoarder. Read her bio and other work here, then catch her on Twitter @TiffanyWendeln.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
An Upper East Side apartment that was once home to one of the most significant American cultural personalities of the 20th century has recently hit the market.
The Art Deco masterpiece at 895 Park Avenue was previously owned by famed composer and cultural icon Leonard Bernstein, whom music critics refer to as “one of the most prodigiously talented and successful musicians in American history”. In fact, this very property is where Bernstein — also a lifelong humanitarian, civil rights advocate, and peace activist — hosted an infamous âradical chicâ party with and in support of the Black Panther Party back in 1970.
But its famous past owner is not the building’s only historical trait; built in 1929, it is designed in the classic Art Deco style, evoking New York Cityâs golden age glamour and sophistication. That, paired with its carefully preserved original architectural details (original wood-burning fireplaces and wide-plank wood floors) and panoramic Manhattan views make this residence a true gem.
Clocking in at approximately 6,300 square feet, with an extra 700 square feet of private outdoor space, the 895 Park Avenue unit spans over two floors of the 21-story Upper East Side building. The entrance is through a private elevator landing which opens into a 34-foot grand gallery, further leading into the residence’s elegant formal living room, library, and dining room.
With 6 bedrooms and 6.5 bathrooms, the trophy apartment also comes with an enclosed solarium that’s bathed in sunlight and that, just like the rest of the rooms and outdoor spaces, opens up to picture-perfect views of the city.
A grand staircase leads to the lower level, which houses the 6 bedrooms, as well as a home office and laundry room. All but one of the bedrooms enjoys their own en-suite bathroom as well as significant storage space in the form of walk-in closets or dressing rooms.
The building itself adds an extra note of sophistication and convenience; the full-service white glove co-op has a long list of amenities, including multiple doormen, an elevator attendant, health club, squash court, basketball court, and private storage units. Though location itself may be its biggest asset: 895 Park Avenue is located right in the heart of the Upper East Side, on the southeast corner of 79th street and Park Avenue, providing direct access to world-class dining and shopping.
Priced at $29.5 million, the elegant unit is listed with Bonnie Chajet, Allison Chiaramonte, and Tania Isacoff Friedland of Warburg Realty.
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The post Trophy Apartment Once Owned by Composer Leonard Bernstein Asks $29.5 Million appeared first on Fancy Pants Homes.
Comedian and Grammy winner Kathy Griffin is selling her Bel Air mansion for nearly $16 million. Want a tour of this luxe home? We’ve got you covered.
The post Kathy Griffin Lists Her Bel Air Home for $16 Million appeared first on Homes.com.