Singlehandedly bringing back the luxury real estate market are heiresses Tamara Ecclestone (age 27) and sister Petra Stunt (23). In a real estate shopping spree of epic proportions, the daughters of Formula 1 Racing boss Bernie Ecclestone have purchased hundreds of millions of dollars worth of high-profile properties in the past 18 months.
Tamara Ecclestone, 27, bought a 16,000-square-foot historic brick home across the road from Kensington Palace, where Prince William and Duchess Catherine will soon take up residence, for about $70 million in early 2011. Petra Stunt paid $85 million for a 57,000-square-foot Los Angeles mansion a few months later. Known as “the Manor,” the 14-bedroom, 27-bathroom home was built by Candy Spelling and her late TV producer husband Aaron Spelling.
The girls are among a small number of ultra-wealthy young people who are making waves at the very top of the real estate market. A trust linked to Ekaterina Rybolovlev, the 22-year-old daughter of Russian fertilizer billionaire Dmitry Rybolovlev, bought a four-bedroom penthouse in New York for $88 million in 2012.
Another young Russian heiress, Anna Anissimova, the 27-year-old actress daughter of Vasily Anissimov, who made his billions in iron ore and aluminum, recently put her New York apartment on the market for $50 million. She purchased it in 2004 for $9.9 Million at the age of just 19.
Megan Ellison, film producer and the 26-year-old daughter of software mogul and Oracle CEO Larry Ellison, bought three homes in the Hollywood Hills over the last few years, one of which she put on the market recently for $15.5 million.
Still it was Petra’s purchase of the Spelling mansion that changed the perception for many real estate agents of who a buyer could be. Rick Hilton, the Realtor who represented both Ms. Spelling and Ms. Stunt in the transaction noted that he now looks at younger buyers much more seriously. He added that Petra’s desire to buy such a statement home surprised him, considering her age.
“At first, I showed her several properties but they weren’t grand enough,” he remembered, including a 36,000-square-foot French-style mansion on Sunset Boulevard now listed for $49.5 million. “When those earlier homes didn’t excite her, I saw very quickly that…she wanted the finest estate available, and that’s what she got.”
The Ecclestone sisters exemplify the way many of the ultra-wealthy, and ultra-young, buy homes. They often make up their minds quickly. They like to customize their homes to their highly specific tastes, on a quick turnaround with few expenses spared.
The Ecclestone’s and their heiress friends got me to thinking, what’s the most expensive property in our neck of the woods?
In Pinellas County, priced at $14,900,000 we have a Mediterranean Estate with 14,912 square foot home in Clearwater. Do you think it heiress-worthy?
In Hillsborough County, the priciest property on the market is also $14,900,000 and 28,893 square feet in the coveted Avila community in Tampa. These prices are a steal compared to what the heiresses have been buying. Come to Tampa Bay, ladies, I’ve got you covered.
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