Christophe Choo's Beverly Hills Westside Los Angeles Lifestlye Blog: Dr. Phil Buys for $29.5 Million in Beverly Hills. | Beverly Hills Homes-Realtor-Real Estate-http://www.ChristopheChoo.com

Monday, August 2, 2010

Dr. Phil Buys for $29.5 Million in Beverly Hills. | Beverly Hills Homes-Realtor-Real Estate-http://www.ChristopheChoo.com

By CANDACE JACKSON
Phil McGraw, better known as Dr. Phil, has bought an estate in Beverly Hills, Calif., for $29.5 million. Earlier this month, he listed his Beverly Hills home for $16.5 million.

Zuma Press
Dr. Phil

The estate he purchased, which was unlisted, is a Mediterranean-style villa on three acres that has a 14,000-square-foot main house with five bedrooms and 11 bathrooms. There's also a guesthouse and a pool. The house has sweeping views of Century City.
Mr. McGraw's current home is also a Mediterranean-style house on just under an acre. It has eight bedrooms and seven bathrooms as well as an in-home theater, gym, billiard room and an outdoor dining room. The property is walled and gated and has a two-bedroom detached guest house.
Known for his syndicated, daily advice talk show, Mr. McGraw first rose to fame when he appeared regularly on the "The Oprah Winfrey Show" in the late 1990s. He has also written several best-selling books. Through a representative, he declined to comment.
Jana Jones-Duffy and Fred Holley of Coldwell Banker Previews International represented the home Mr. McGraw purchased. Billy Dolan, a broker with Hilton & Hyland in Los Angeles, has Mr. McGraw's listing for the $16.5 million property that's currently on the market.
Forbes Wyoming Ranch Goes On the Market
A ranch owned by the family of Malcolm Forbes, the late chairman and editor in chief of Forbes magazine, has hit the market in Jackson Hole, Wyo., for $12 million.
The 85-acre ranch sits along the Snake River and borders Teton National Park. A 4,100-square-foot main lodge has a two-story great room, two kitchens, five bedrooms and four bathrooms. There are also six guest cabins and caretaker's quarters.
Malcolm and Roberta Forbes purchased a roughly 150-acre ranch in 1979. Mr. Forbes died in 1990 and Ms. Forbes in 1992. The 85 acres that are for sale are owned by Moira Mumma, their daughter. Ms. Mumma's brother Tim Forbes still owns his portion of the family's ranch, which is adjacent.
David Viehman, a co-owner of Jackson Hole Real Estate Associates, a Christie Great Estates affiliate, has the listing. He said Ms. Mumma and her husband are selling because they no longer use it enough to justify keeping it.

Forbes Ranch, Kauai Retreat

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Concierge Auctions
The Kauai retreat.

Kauai Property on the Block
Real-estate investor Michele Hughes will auction off a seven-acre oceanfront estate on Kauai's Anini Beach next month. Also available is her 40-acre unlisted beachfront property in Kauai's Kilauea for $40 million.
The auction includes a property with a three-bedroom main home on 1.3 acres overlooking the ocean. It was previously listed for $9.8 million. The opening bid for the sale is $3.8 million. An adjacent 1.67-acre lot has an opening bid of $1.5 million.
Ms. Hughes's Kilauea estate, along Secret Beach, has about 40 acres of land, beachfront access and an organic farm and nursery. There is a 3,000-square-foot main house, a swimming pool and two guest houses. The property can be divided into four separate parcels.
Concierge Auctions is handling the sale, which will take place on site on Aug. 23, along with Neal Norman of Koa Properties. The Secret Beach estate is available from the Michele Hughes Company.
—Email: privateproperties@wsj.com