SYLVESTER STALLONE, whose "Rocky V" opened last month, has purchased a home in the Beverly Hills area for $5.7 million, sources say.
He had leased the house for three years from billionaire financier Kirk Kerkorian.
Stallone's personal fortune has been estimated at more than $100 million, made primarily from his "Rocky" and "Rambo" films. He's working on "Oscar," a Walt Disney comedy directed by John Landis about an affluent 1930s hood trying to go straight.
The actor bought less than a third of Kerkorian's 31-acre parcel, which the financier had listed at $25 million. However, Stallone bought the principal residence on the property, which has a garage where he set up a small artist's studio and often paints late into the night.
The two-story, Spanish-style home, with a pool, also has five bedrooms and five baths in about 8,400 square feet. The house is one of five owned by Stallone. He also has homes in Malibu, Kauai, Maryland and Hidden Valley.
The remainder of the Kerkorian property is expected to be re-priced with Marjorie Aljian at George Elkins Co., who had the listing and was reportedly the only broker involved in the sale.
In the meantime, Stallone has listed his 23-acre White Eagle Ranch in Hidden Valley at $7.95 million with Richard and Joanie Young of Joan Young Co. Realtors, Westlake Village.
"From what I hear, he has another horse ranch, with about 400 acres, in Maryland, and he may be . . . putting all his horses in one ranch," Joanie Young said.
His Hidden Valley ranch, which he's owned since 1986, has a polo field, two swimming pools, a 2,200-square-foot guest house and a 7,500-square-foot, two-story lodge with one bedroom, which occupies the entire upper floor.
The ranch also has a three-bedroom dwelling, a new four-car garage, a 19-stall barn, a 10-stall barn, a guard house, gaucho housing, a workout ring and what is called "a horse Jacuzzi."
BERNIE TAUPIN, singer/songwriter Elton John's longtime lyricist, closed escrow a few days ago on a house in the Hollywood Hills for close to its $1.5-million asking price, sources say.
Taupin, who had been renting an apartment, was looking for a light, bright home with a view. "The city-lights view is what sold him on this house," a source said. The home also has a pool.
The three-bedroom, 3,000-square-foot house was a total rehab, started in 1989 and completed this year. Steven Heiferman of Fred Sands' Beverly Hills office represented Taupin.
MIKE GLICKMAN, the San Fernando Valley's biggest real estate broker until he filed for bankruptcy last June, sold his pink Encino mansion through court proceedings last week for $3,050,000, which was $55,000 more than its asking price and $650,000 more than the bid accepted by the court.
"We're all in shock out here, because this is supposed to be a slow real estate market, but my house went for more than even its appraised value," Glickman said. "I think that's an encouraging sign . . . and now there is an extra $650,000 for my creditors, to pay off debt. We're all happy about that."
The 10,000-square-foot mansion with a tennis court and pool, behind gates, was purchased by Harry Braverman, a personal injury attorney, and his wife, Georgia.
Michael McCall of White House Properties, Woodland Hills, had the listing, and Laura Sternbach at Jon Douglas Co., where Glickman works now, represented the buyers.
MORTON JANKLOW--literary agent for West Coast novelists Danielle Steele, Sidney Sheldon, Judith Krantz and Jackie Collins--and his wife, Linda--late director Mervyn Le Roy's daughter and late movie mogul Harry Warner's granddaughter--have listed their New York apartment at $2.95 million.
They're marketing the co-op on the West Coast through Kay Pick of Mike Silverman & Associates in Beverly Hills. The price was just reduced from $3.9 million.
The Janklows lived in the apartment for almost 29 years. Situated in a prime, uptown building constructed in 1905, the apartment has 12 rooms with 10 1/2-foot-high ceilings and parquet floors. It has a children's wing, master suite, two maid's rooms and six fireplaces.
Other tenants include Kitty Carlisle Hart, widow of playwright Moss Hart, and Ed Bleier, a Warner Bros. TV executive. The Janklows have relocated to smaller quarters nearby.