Inquiring minds are reading where celebrities are having quite a bit of trouble with real estate. The former Major League Baseball player Lenny Dykstra and entertainer Sheryl Crow are cases in point.
Dykstra has lost the Lake Sherwood house that was originally built for hockey legend Wayne Gretzky and is one of the Conejo Valley’s most expensive properties.
Dykstra took out more than $18 million in loans to purchase the property and on Wednesday it was auctioned for $760,712[note to SC editor: This was a junior lien].
The short history:
Dykstra purchased the 12,713-square-foot Newbern Court estate — with its eight baths, six bedrooms, screening room, billiards room, fitness facility, tennis court, motor court and separate guest quarters — as an investment property at the start of the recession in 2007. Two years later he defaulted and put the property up for sale, asking $25 million.
The sad part is that Dykstra looks classless because of the damage he caused:
Dykstra has been accused of removing expensive fixtures, wood flooring, toilets and a La Cornue oven and cooktop that the Gretzkys had installed for $51,750.
Then there is the case of Princess One-Sheet, Sheryl Crow:
Like so many stars who made it big, Crow splurged on huge house with top of the line features. But since the real estate market crash, they have become white elephants.
Now Crow’s house is bargain priced. The bidding has topped out at $1.1 million with the online auction set to end tomorrow night (Nov. 24).
Crow, 48, likely paid $4 million to $6 million for the house in 2006 after renting it for a few years. Initially. she put it on the market in May for $7.5 million. But no takers stepped up.
While telling the world they were using too much toilette paper, Crow, 48, was living the life of luxury:
The sprawling three-story five bedroom house is nestled on 150 acres and is over 10,000-square-feet in size. That’s about three times the normal suburban house.
It has a fourteen stall barn and indoor riding arena and you’ll never have to want for a bathroom. It has seven full baths and one half-bath, in addition to a nanny’s quarters and six-car garage.
But wait there’s more.
The property comes with a 3 bedroom guest cottage.
Crow, the mother of two has lived in the French-style estate, known as “Cross Creek Farm” for six years with sons Wyatt, 3, and Levi, seven months.
For recreation the house has a theatre room, salt water swimming pool and stellar views of the rolling fields surrounding the property.
The only question left is how Ms. Crow defines the word “hypocrite”.
Filed under: Uncategorized |