Hmmm… there’s something fishy about Josh Altman‘s miraculous sale of the legendary Dorothy Chandler Estate. Luckily for us we’re good at sleuthing.
On last night’s Million Dollar Listing: Los Angeles, Josh and his brother Matt landed the historic listing and were seen brokering a deal to sell it in record time for full asking price and a 5 day close.
“The Altman Brothers just raised the bar to a new level with the sale of the most famous estate in Los Angeles. Where others have not succeeded on this property…(Flagg, not surprised), The Altman Brothers proved why we are the difference in getting your house sold as opposed to just listed,” Josh brags about their sale.
CLICK THE CONTINUE READING BUTTON FOR MORE!
The Dorothy Chandler estate (455 Lorraine Blvd) was previously listed with Josh Flagg, who did not sell it. Josh, via Rodeo Realty, had it listed for $11.25 million back in 2012 (while the market was still in a lull). During that time the current owners of the home were in the midst of a high-profile lawsuit with the previous owners over the condition of the property when they purchased it in 2006 . They subsequently lost that suit and after some family issues decided against selling, only to then incur more financial problems. They worked with other real estate agents before finally listing the property with The Altman Brothers this spring for $10.6 million.
Now Josh A. has us believing that he sold the house for the full asking price $10.6 million – and that included all of the furniture – just days after listing it to a Nigerian furniture designer offering all cash. Interestingly public records tell a different story. The house actually sold a few months after it was listed. The Altman Brothers actually wound up snagging $9.5 million when it sold this June. You can see more photos of the beautiful home on Josh’s website.
The property record for 455 Lorraine is above! Hmmmm… reality TV storyline or did the sale fall through?
While Josh’s real estate career is booming, his relationship to Heather Bileyu is falling apart. Josh and Heather recently confirmed they postponed their wedding over disagreements and on last night’s episode the couple had a massive fight. “This was a difficult episode to watch in regards to my personal life and relationship with Heather,” Josh admits.
“It’s so hard to see her hurt. I go 100 miles an hour and don’t lift my head up to see what’s really going on. We both have very successful real estate businesses, which is very demanding and high stress,” Josh explains. “Adding anything more to our plate causes the balance that we barely have to tip, which is what happened with the wedding. We love each other so much and we will weather this storm together.”
In other successes David Parnes and James Harris managed to forge a mutually beneficial relationship with a successful real estate developer! “Getting creative and working with an architect to understand the capabilities of each potential site we had in mind for Jay was essential,” James says. “Bellagio really had it all! The property is perched at the top of the hill looking down onto $30 million to $50 million estates. And while doing a deal of this size is great, we had to think long-term and knew we couldn’t afford to lose this opportunity. If we successfully deliver on the purchase of this property, then chances are we will land the listing on the back end.”
David agrees that creativity was the key to satisfying Jay. “Negotiating Jay’s offer took finesse, but I tried not to break a sweat. I thrive under pressure. Even when I learned that there was a $9 million offer, it didn’t deter me. #BondStPartners are experts and have enough experience to know there is always an opportunity for a deal to be made. In this instance, timeframe and proof of funds talked over price, and we were able to put a smile on Jay’s face. With Bellagio, we delivered him a new formula: purchase price, ($8.7 million), development ($10 million), and sale ($40-50 million).”
[Photo Credits: Bravo]
TELL US – WAS JOSH’S SALE A REALITY TV STORYLINE OR DID THE ORIGINAL SALE FALL THROUGH?
