Edward Lampert’s Indian Creek Home Ranks Among 2012’s Biggest Buys by Billionaires
Hedge fund titans John Paulson and Edward Lampert, and Ron Baronare among billionaires who bought high-profile properties last year.
Paulson, “who famously made his fortune shorting subprime securities in 2007,” purchased the Hala Ranch and adjacent property in Aspen, Colo., for $49 million in June.
“Located in the gated Starwood community, the combined property has a 56,000-square foot main house with 15 bedrooms including a master suite equipped with a beauty parlor and barber shop, 16 bathrooms, a water treatment plant and a mechanical shop with gas pumps and car wash,” Forbes said, adding that it was listed for $135 million in 2006.
The seller apparently was Prince Bandar bin Sultan, a Saudi royal and former ambassador to the U.S.
Lampert, who is chairman of Sears Holdings Corp., “dashed Miami-Dade County home sales records when he plunked down nearly $38.4 million on a 17,700-square foot Palladian villa in exclusive island community, Indian Creek,” Forbes said.
The 2.7-acre estate was crafted by architect Joe Brennan, interior designer Axel Vervoordt, and landscape architect Peter Wirtz, it added.The home has “seven bedrooms, 13 baths, a two-story portico supported by Doric-style columns, a terraced pool area and an ‘arrival court’ with hedge-flanked reflecting pool.”
The seller was Paul Cejas, chairman of PLC Investments and former U.S. ambassador to Belgium.
Baron reportedly bought a 4,400-square foot apartment on New York’s Park Avenue for $11 million in September. The seller was Robert Cochran, former CEO of Financial Security Assurance Holdings.
The 12th-floor flat, apparently bought for Baron’s son David, has five bedrooms, five and a half baths, a library, a formal dining room and views of Park Ave. Baron owns other properties around the New York City area including a Hamptons estate he picked up for $103 million in 2007, Forbes said.
Among the high-profile sellers was Marc Rowan, co-founder of the private equity firm Apollo Global Management. He sold his 9,000-square foot Hamptons home for $28.5 million to another finance maven early in the year after bouncing it on and off the market for four years, Forbes said.
“The Long Island estate encompasses 2.3 acres on the ocean and the cedar shingle house has six bedrooms, six-and-a-half baths, floating staircases, a three-car garage and an infinity-edge swimming pool,” the report said, adding that he sale was one of the Hamptons' most expensive last year.
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