Saturday, October 8, 2011

Did Jon Bon Jovi Catch Case of Real Estate Fickle?

The New York Post reported yesterday that sensationally successful 40-something year old pop-rock musician Jon Bon Jovi is quietly shopping his newly renovated New York City duplex penthouse with a mind-melding asking price of around $45,000,000.

Mister Bon Jovi recently completed a multimillion dollar renovation of the building topper but at the time he paid $24,000,000 for the clean-lined contemporary aerie in the SoHo 'hood back in June 2007 the sprawling 7,437 square foot penthouse then encompassed 6 bedrooms, 5 full and 3 half bathrooms, 2 kitchens, 2 fireplaces, and a prairie-sized open-plan living/dining/kitchen area with vast walls of floor to ceiling windows that spill out on to not just one but two titanic city view terraces, one outfitted with built-in outdoor kitchen/barbecue center.

In addition to the four family bedrooms each equipped with en suite bathroom, the penthouse included a lower level master suite with dressing area and 1.5 bathrooms and an upper level master suite with window-lined private study, custom-fitted walk-in closet, and sybaritic bathroom.

Mister Bon Jovi's posh penthouse pad sits atop The New Museum Building, a supuh-swank, cast iron structure that has long attracted the famous and the fabulous.

Hunky and handsome hotelier/property developer Andre Balazs–He-rah of the Chateau Marmont in Los Angeles, The Mercer in New York City, and Sunset Beach on Shelter Island and The Standard Hotels in L.A., N.Y.C. and Miami –owns a high floor condo he bought in 2003 for $5,750,000 and unsuccessfully attempted to unload in 2006 for $10,000,000.

Swiss-born celebrity and fashion photographer Raymond Meier owns a magnificently minimalist high-floor spread he hoisted on the market in May 2010 for $11,950,000. The Good Wife actress Julia Margulies reportedly took a spin through the expansive and spare space that no longer appears listed on the open market.

French art director and creative hurricane Fabien Baron owns an even more minimal and über-meticulously finished Deborah Berke-designed residence that measures 4,171 square feet and was also on the market for about six months in 2010 with a $7,450,000 price tag.

Calvin's daughter Marci Klein–an Emmy winning producer for Saturday Night Live and 30 Rock–owns a 4,579 square foot spread she bought in May 2006 for $10,000,000 and until he hanged himself with a dog's leash in December 2010, imprisoned Ponzi schemer Bernie Madoff's son Mark and his family used to live in a 4th floor unit he and wife-widow Stephanie bought in June 2005 for $6,075,000.

In addition to the Manhattan penthouse he now longer wants, Mister Bon Jovi also owns a rather impressive and sizable estate/compound on the banks of the Navesink River in affluent and rather charming Red Bank, NJ.

floor plan: Prudential Douglas Elliman

21 comments:

Anonymous said...

Pictures can be "hung", but people are always "hanged"

Anonymous said...

I don't quite get why one would spend millions redoing a place and then soon afterwards put it on the market. Would it not be smarter, if you don't want to keep it, to NOT spend all that money and put it on the market for less, and let the buyer redo it as he or she wants? How can you be sure your decor is what the buyer wants? Perhaps if you have money to burn you don't even bother to think about such things.

Anonymous said...

So he paid 24M in 07 (height of market) and wants nearly double now.. Mr. BJ take 30-40% off your 24M purchase price and add on your renovation (if done tastefully) and there is your asking price...and it surely is not 45M.

Anonymous said...

Just wondering if the earthquake of recent months bought on the case of the fickle? Must say, penthouse not my ideal place when the earth is wobbling.

Anonymous said...

Maybe he didn't like the redo. Is it just me, or is this floor plan a little wonkie? With this kind of space and his kind of money I think I could have drawn a more interesting floor plan, but who knows? I've seen worse.

Anonymous said...

I knew a person who was 'hung'....a weekend I'll always remember....

angie said...

It seems more to me like Jon has taken a stab at house flipping. I don't know what to think about this - almost double the price he paid four short years ago as the housing market has continued to decline for just about everyone else? And add to that, as anon 12:29 PM alluded to, very few people who have $45MM to drop on a home are going to spend it on some other person's taste.

Anonymous said...

Occupy Wall Street.

Occupy Los Angeles.

Occupy Beverly Hills.

Anonymous said...

Because something is happening here, and you don't know what it is, do you, Mr Jones...

Anonymous said...

You wouldn't happen to have seen the new ELLE Decor cover on Guy Fawkes Day, would you?

Anonymous said...

??????

Green Mountain Realty said...

John Bon Jovi ia quite the businessman besides being a great musician. He realizes that real estate is still a solid investment if you know how to buy low, renovate, and sell high.

Anonymous said...

@ midTN: Well, it's an improvement from when we were occupied by the Tea Baggers back when Mama covered Going for Bronze Mitt.

According to Curbed NY, Brooke Astor's apartment is supposedly sold. It had a $46 million asking price & sold for $21 million. Perhaps there's a trend where the super rich insist on offering 50% less than asking & Mr. BJ is playing along.

Lady J

Desert Donna said...

Green Mountain Realty...your probably in real estate (as am I) so you should know better. Read the past sales Momma gave for the building. Clearly he is in the stratoshphere of pricing for the building, though he does have the PH. Its not the ground shaking (as anon 1:59 suggested) thats making him reconsider.. And well said Angie.. Buyers in this range can literally twirl and point from any location. Paul Allen comes to mind..

Anonymous said...

LITTLE MISS MUFFET
SAT ON HER TUFFET
BUYING UP EVERYTHING IN HER WAY

ALONG CAME A PROTEST
WHOSE MANSIONS THEY'D INFEST
AND NOW SHE'S FLED FROM L.A.

Anonymous said...

Here's the way to look at the protests re the super rich of the sort we encounter on this excellent blog all the time:

http://www.nytimes.com/2011/10/10/opinion/panic-of-the-plutocrats.html?_r=1

midTN said...

***

Don't you and the blog "poet" have some protesting or fisting you need to attend to instead of wasting your time here "Lady" J?

***

angie said...

Geeze midTN, calm down. Go back and read the fairly recent posts re: Mitt Romney's La Jolla beach home. The comments were a hostile mess. I've never observed Lady J being disrespectful or unkind. She was simply acknowledging and responding to you, a fellow commenter, by stating a fact - it could always be worse.

Anonymous said...

Upper Floor Plan = Devine
Lower Level Floor Plan = Hot Mess

midTN said...

***
I posted on the Mitt house and was responding to "Lady" J's nasty post here angie......but thanks anyway for your input.

***

P.S...bring on the "worse"...lol

angie said...

I honestly don't perceive a nasty syllable in the one short sentence addressed to you, and what I meant by my comment is that Lady J is basically saying it could always be worse than what you're reading here, referencing the far more negative tone of comments in the Mitt Romney article.