Gabriel Properties

A 3.88-acre site on Indian River Drive at the corner of Church Street has sold for $1.1 million.

The property was foreclosed in December and listed in February by Nikolaus M. Schroth, broker associate and vice president at NAI Southcoast. The buyer, Don’s Jensen Beach LLC, was represented by William Mike Lowry Realty.

Many foreclosed properties are available at www.naisouthcoast.com. For any additional information on this sale please contact Nikolaus Schroth at 772-403-3752.

NAI Global is a managed network of 5,000 professionals, 325 offices in 55 countries. To learn more, visit www.naiglobal.com.

Tags: 11 Million, Million

Israeli real estate tycoon Lev Leviev has old his 18 percent stake in Angola’s Catoca diamond mine to China’s Sonangol International for $400 million, Russia’s “Kommersant” newspaper reports.

Globes, an Israel business news publication, note Leviev acquired his interest in the mine in the 1990s for $20 million.

Russia’s state owned diamond producer Alrosa holds 32.8% of Catoca. Globes reports Alrosa CEO Fyodor Andreyev has formally told Russia’s Minister of Finance Alexei Kudrin about the sale.

The deal is scheduled to close in June. At closing, Sonangol will become the first Chinese company to own part of a diamond mine, according to Globes.

In 2010, Catoca had $527 million revenue from rough diamonds and reported a net profit of $111 million, Globes reports.

 According to Wikipedia, Leviev is an international investor in residential real estate, shopping malls, energy, fashion, telecommunications, and media, which attained a market value of $8 billion in 2007.

The value of the company plunged with the onset of the 2007-2008 global financial crises, with company debt reportedly totaling $5.5 billion in September 2009. Read all post…

Tags: 400 Million, Israeli Real Estate, Million, Real Estate

ELITE STREET

Chewing-gum heir Bill Wrigley Jr. has taken an ax to his listing price for his 11,013-square-foot, Lake Forest mansion, hacking its asking price on May 27 from $9.99 million to $8.5 million.

Wrigley first listed the ivy-covered Italianate mansion in 2009 for $14.5 million. In April 2010, he cut its asking price to $9.99 million.

He paid $9.9 million for the mansion in 2003. 

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Tags: Forest Mansion, Lake Forest, Lake Forest Mansion, Mansion

This past week, my husband and I made a pilgrimage to America’s Heartland. Our mission was, on the face, rather simple: deploy our collegiate daughter from the middle of Missouri to our nations’ capital. We were there as service providers.

As we arrived on schedule to commence Operation Internship, we knew that, like any complex transaction, this one would involve many moving parts. We knew this because we are trained professionals bringing years of experience in the nuances of flight connections, moving boxes, security deposits and overweight luggage surcharges. Our client, on the other hand, is relatively inexperienced. Thus, we had been commissioned.

Now, before I get to my point (one I fully intend to make within the next 400 words or so), it is important to understand the challenges we faced:

All of this had been preplanned and coordinated to perfection.

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