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Michael Hirtenstein, the EMM Group Inc. Partner of Mark Birnbaum and Eugene Remm, has the Real Estate Midas Touch
Billionaire hedge fund manager Philip Falcone even wheels and deals when it comes to vacation.Falcone has grabbed a Hamptons summer rental for about $700,000 — a 30 percent discount from its $1 million asking price. Ironically, the East Hampton estate, developed by Haddonfield & Associates and known as Stone Meadow Farm, is one Falcone once tried to purchase.
In 2009, Falcone bid on the vast 8-acre property with an 18,000-square-foot, 10-bedroom home. But a bidding war erupted, and real estate heiress/entertainer Isabel Rose swooped in to buy the pricey palace, not on the ocean, for $12.5 million. (Mariah Carey had rented it in 2008, paying $125,000 for a week.)
PHIL IT UP: Philip Falcone rents Stone Meadow Farm for about $700,000.
Falcone, who lives in Bob Guccione's former Upper East Side mansion, opted instead to build his own home in Sagaponack, sources say. But the mansion is still about six months from completion.
So, Falcone looked at summer rentals and found Stone Meadow Farm, which Rose had unofficially put on the rental market for a mind-boggling $1 million. The main house includes a spa and a media room. There are also two cottages, stone courtyards, a pool, a tennis court and horse stables.
Falcone was unavailable for comment. But we hear that, by contrast, his Sagaponack home, with a pool and also not on the ocean, will be "modest" by Hamptons standards — about 13,000 square feet on 1¼ acres.
Nobody gets Hirt
Nightlife and restaurant mogul Michael Hirtenstein, who runs the EMM Group empire (including Abe & Arthur's, SL, SL East and Tenjune) with Eugene Remm and Mark Birnbaum, has quite the Midas touch when it comes to real estate. He's set to make about $5 million by flipping a gorgeous townhouse at 92 Charles St., which he purchased through Corcoran Group broker Lauren Muss, about a year and a half ago.
Hirtenstein bought the 5,000-square-foot West Village residence from financier Armon Bar-Tur for around $13.5 million and is now in contract to sell the home to a mystery buyer for $18.65 million. Even better for Hirtenstein, it's an all-cash deal that was made without using a broker, so there's no commission to pay.
Stage struck
The spotlight is on a theater couple's 3,000-square-foot, four-bedroom, three-bathroom co-op at 300 Riverside Dr., which is now on the market for $3.995 million.
The residence — owned by Tony-winning lighting designer Roger Morgan and his wife, Ann Sachs, who starred opposite Frank Langella in Broadway's "Dracula" — is the combination of two apartments and has views of the Hudson River, Riverside Park and the George Washington Bridge. The co-op also offers beamed ceilings, two corner bedroom suites and a den/media room.
Corcoran Group broker Deanna Kory has the listing.
Lolli gee!
Anthony Lolli, CEO of Rapid Realty, has put his five-bedroom, 6½-bathroom Brooklyn house on the market for $3.95 million. The 5,200-square-foot Bay Ridge structure includes two separate, furnished one-bedroom rental units, but most landlords don't have homes this fun.
The main residence has a game room (with billiards, ping-pong, foosball and flat-screen TVs), a movie theater and a pool (with an integrated flat-screen TV). Lolli is clearly a man who likes TVs: The home office has six flat-screens.
Nest Seekers brokers Samuel DeFranceschi and Ryan Serhant have the listing.
We hear . . .
That retired Tommy Bahama Group CEO Tony Margolis and his wife, Karlene, might be toasting with pina coladas after selling their prime 1010 Fifth Ave. co-op for $9 million. The new owners are Joseph and Carolyn Reece. . . . That retired basketball legend Dennis Rodman checked out Southampton's Village Latch Inn, on the market for close to $25 million, at 101 Hill St. The "Great Gatsby"-esque main structure would be quite a single home spread. Meanwhile, down the street, real estate honcho Dede Gotthelf is trying to conquer her own Hill Street blues by cutting the rent for a 3,000-square-foot former Merrill Lynch office space, with a clock tower, at 71 Hill St.
About the Author
Read the entire article about Mark Birnbaum & Eugene Remm's Emm Group Partner, Michael Hirtenstein here
Gatsby Flat Work 4-2011