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In other Madonna-related real estate news, the middle-aged Material Girl is full steam ahead with the custom-construction of an 8 bedroom mansion in Da Hamptons. (New York Post)
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The seller of the Mandeville Canyon estate, we've been told by several sources, was Seattle-based billionaire John McCaw, Jr. who purchased the 5.3-ish acre, horse-friendly spread and its 1930s Monterey Colonial mansion in 2003 for, according to Our Fairy Godmother in Bel Air, about $16 million. Mister McCaw Jr. had the estate on and off the market since at least the summer of 2008 at a variety of prices that went as high as $28.5 million but, in the end, took a punishing $3+ million loss, not counting carrying costs, upkeep, improvements and real estate fees. Yolanda also swears that she has it on "unimpeachable top-notch authority" that the couple plan to "bulldoze the old beotch" and build anew.
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And, finally, just for shits and giggles, The Telegraph takes a fun look at the declining desirability of The Bishops Avenue, a storied, mile-long street in North London lined with largely unoccupied mega-mansions owned by a long-list of (nouveau riche) international billionaires with insatiable taste for excessive residential luxuries.
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