Candy Spelling and the Most Expensive House in the World
I have a great job. Where else would I get an email from Candy Spelling's "people" asking me to come interview her at her 56,500 square foot home?
Spelling, widow of famed television producer Aaron Spelling ("Charlie's Angels", "Love Boat" etc.), has been trying to sell 'The Manor' for a year. She's asking $150 million, which makes it the most expensive home on the market in the world.
Mrs. Spelling figures CNBC's global audience might include potential buyers. She'd like to get the word out.
I just wanted to see the inside of this house. I did. Wow.
For such a large house, you don't feel completely overwhelmed inside. Rooms flow into one another, and they've been decorated to give it a homey feel.
"It's just too big for one person," Spelling told me, in what may be the biggest understatement in real estate history.
She and her husband built the home 20 years ago on nearly five acres in Holmby Hills, not far from the Playboy mansion. It reportedly cost $48 million then.
Does she need the money in order to downsize into a massive new condo in Century City? No. "There never was a mortgage," she says. "My husband didn't believe in mortgages."
How much does it cost to keep up a place like this? "A lot," is all she'll say.
Spelling says she's gotten a few offers, but none worth taking. One buyer offered offshore cash and a Gulfstream GIV.
Another offered mostly stock in two companies she won't name. "I didn't think either company was going to go anywhere and I was right."
Turns out Candy Spelling is an investor. After meeting Warren Buffett she bought Berkshire Hathaway stock ("I bought on the dips"). She says Bed Bath & Beyond has been a great long term investment--she's a former interior decorator.
When I asked what stocks did not pan out? "Corning," she says with a sigh. "I was married to it..."
By the way, I offered her $125 million cash. She said "yes." Anyone got any money to lend me? We could turn it into a timeshare!
Check out the clip for more of my interview with Candy Spelling, along with video of the house.
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