"One of America's finest mansions and estates" has sold for more than $63 million after spending more than a year on the market and cutting its price.
The owners of the Hearst Estate in Beverly Hills, which was once the honeymoon destination for JFK and Jackie Kennedy, originally tried to sell it for $195m in 2016, according to The Los Angeles Times. Since then, however, the price has been slashed numerous times as its owner, lawyer Leonard Ross, has faced bankruptcy and mountains of debt.
In June, the estate was listed for $69.9m, dropping from a listed price of $89.7m in April, and last month an offer of $47m was accepted, according to People, but thanks to some overbidders it eventually sold for $63.1m.
The winning bid came from German-American billionaire investor Nicolas Berggruen, according to Amalfi Estates property company.
The striking pink terracotta stucco house, which sits on 1.5 hectares and encompasses two guest houses and a pool house, is not only stunning, with its classic Italian and Spanish palatial styles, but also has a fascinating history.
It was built in 1926 by architect Gordon Kaufmann (the man who designed the Hoover Dam) for banking tycoon Milton Getz. Actress Marion Davies bought the property in 1946 for her partner, newspaper magnate William Randolph Hearst, and it remained the couple's Beverly Hills residence until Hearst's death in 1951. The couple's love affair is the inspiration behind Citizen Kane.
In 1953, the estate was the honeymoon destination for JFK and Jackie Kennedy, and it later served as Kennedy’s West Coast presidential election headquarters.
It has also featured in numerous films over the years, such as The Bodyguard – starring Kevin Costner and Whitney Houston – where viewers could see a swimming pool bordered by pillared Roman temple facades, in the style of the famous Neptune Pool at Hearst Castle.
The Godfather's notorious "horse head in a bed" scene was also filmed in one of the 18 bedrooms, and eagle-eyed Beyonce fans might recognise it from her album Black is King.
The main house, spread over 29,000 square feet, has hand-painted ceilings, a library, two screening rooms, an Art Deco nightclub, a billiards room and eight bedrooms.
Outside, there are patios and balconies galore, which look out over a tennis court, an Olympic-sized swimming pool, manicured gardens, fountains, terraces and vintage lamp posts.
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
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Fringe@Four Line-up
October 1 - Phil Nichol (stand-up comedy)
October 29 - Mandy Knight (stand-up comedy)
November 5 - Sinatra Raw (Fringe theatre)
November 8 - Imah Dumagay & Sundeep Fernandes (stand-up comedy)
November 13 - Gordon Southern (stand-up comedy)
November 22 - In Loyal Company (Fringe theatre)
November 29 - Peter Searles (comedy / theatre)
December 5 - Sinatra’s Christmas Under The Stars (music / dinner show)
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).