M2| Friday, February 21, 2020 THE WALL STREET JOURNAL.
FROM LEFT: JIM BARTSCH; MICHAL CZERWONKA FOR THE WALL STREET JOURNAL
Portland, Ore., where he plays for
the Portland Trail Blazers. Mr.
Graves declined to say specifically
why Mr. Anthony is selling, but
said he is shopping for another
home in the New York area.The megamansion Opus first
listed for $100 million in 2017Basketball star Carmelo An-
thony is asking $12.85 million for
his New York City condo, a five-
bedroom
spread over-
looking Man-
hattan’s High
Line park.
Mr. An-
thony, 35, has
owned the
Chelsea home
since 2015,
when he
bought the new construction condo
for about $11 million, according to
listing agent Michael Graves of
Compass. At the time Mr. Anthony
was playing for the New York
Knicks, but he is now based inNBAStarPutsN.Y.
Condo on the Market
million when the Italian furniture,
champagne cache and exotic cars
were accounted for.
Sitting on roughly an acre, Opus
spans about 20,500 square feet
with seven bedrooms and two
swimming
pools. When it
first hit the
market in 2017,
the property
had a gold mo-
tif and a gold
Lamborghini
Aventador
roadster and a
gold Rolls-
Royce Dawn
were included with the listing. At
the time Mr. Niami said he would
also include a full-time house man-
ager, whose salary would be pre-
paid for two years. It was not clear
if those extras were included in the
sale to Mr. Englanoff.
No real-estate brokers were in-
volved in the deal.
The sluggish market for spec
homes stands in stark contrast to
the strong demand market for
high-end historic estates in the
Los Angeles area, which are trad-
ing for historically high sums in
the Los Angeles area. Last week,
The Wall Street Journal reported
that Amazon chief Jeff Bezos is
paying $165 million to buy a
1930s estate in Beverly Hills from
billionaire David Geffen.
—Katherine Clarkemiliar with the deal. Mr. Englanoff
is one of Mr. Niami’s lenders.
Through an entity known as Yogi
Securities Holdings LLC, he has
lent a company tied to Mr. Niami
tens of millions of dollars across a
portfolio of roughly half a dozen
projects, records show.
Among them is the massive
roughly 100,000-square-foot mega-
mansion known as “The One,”
which is nearing completion in Bel-
Air. Slated to list for $500 million,
the project was originally sched-uled to come on the market in
2017 but has been bogged down by
financing and construction delays,
according to legal documents and
people familiar with the situation.
Mr. Englanoff, a doctor turned
real-estate investor, declined to
comment and it wasn’t clear why
he had moved to take ownership of
the project. The deal comes as Mr.
Niami faces pressure from lenders
to sell his pricey projects, some of
which have lingered on the market.
Mr. Niami declined to commenton how much, if any, cash had ac-
tually changed hands as part of
the transaction, or if the deal was
a form of debt cancellation.
A spokesman for Mr. Niami
confirmed that Mr. Englanoff had
been “one of the partners” in the
project and is the new owner. He
declined to comment further on
the transfer, directing a reporter
to a story in the Los Angeles
Times, which did not mention Mr.
Englanoff but said that the home
had actually sold for about $50Once listed for $100 million,
an elaborate Beverly Hills spec
house with a champagne vault
and a “car museum” has been on
the market for about three years,
undergoing several major price
cuts. Now, the developer, prolific
spec home builder Nile Niami,
says he’s sold the property, known
as “Opus,” for roughly $40 mil-
lion. But the reality is a little
more complicated.
The new owner is Joseph
Englanoff, according to people fa-Lender Grabs Ownership
Of Beverly Hills Spec Home
new residential buildings.
Listing pictures also show Mr.
Anthony’s extensive art collection,
including a set of Mickey Mouse-
type figures in masks. (The collec-
tion will not be included in the
sale.) The apartment is located in
an architectural concrete building
designed and developed around
2014 by architect Cary Tamarkin.
Mr. Graves said that he believes
the apartment is priced to sell,
and that his client is aware of the
challenging market in Chelsea,
which has an oversupply of new
condos.
“He understands that, to be
successful, you have to price
right,” said Mr. Graves, who is
listing the home with colleague
Kevin Mallen.
Mr. Anthony declined to com-
ment. —Katherine ClarkeSpanning more than 4,500
square feet on a full floor, the unit
has three separate living rooms,
one with multiple TV screens and
a wall of temperature-controlled
wine storage. The condo also hasa large terrace overlooking the
High Line, a former elevated rail-
way that is now surrounded byAnne Hathaway puts her Manhattan apartment on the market.M12
FROM LEFT: BRIAN ROTHMULLER/ICON SMI/ZUMA PRESS; RICH CAPLAN/THE MICHAEL GRAVES TEAM/COMPASS20,500
SQUARE FEET
seven
bedrooms,
two swimming
pools,
champagne
vault,
‘car museum’FOR SALE$12.85
MILLION
4,500 sq. ft.,
full floor,
three separate
living roomsMr. Anthony paid $11 million in 2015Nile Niami, who built OpusUnsurpassedViews.UnyieldingElegance.
UnparalleledLifestyle.772.231.0900 : 131GemIsland.comUnsurpassedViews.UnyieldingElegance.
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—THE BELIZE AT CAPE MARCO—
970 CAPE MARCO DR #2303
MARCO ISLAND, FLThis property is listed for sale by licensed real estate agent and broker Brad Dohack (LIC # BK3182946) of Gulf Pointe Properties(LIC # CQ1035512), PH: 239-839-1168. Elite Auctions is a marketing service provider for auctions and is not a licensed real estate
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SATURDAY, FEB 29 11AM844.94.ELITE
Iconic Bay Head Property!
Rare oceanfront opportunity in prestigious
Bay Head. Impeccably maintained and
updated home with generous room sizes
and exceptionally high ceilings. Outstanding
ocean views, deep dunes and large lawn
surround this oversized property.695 East Avenue, Bay Head, NJ
Listed at$5,850,000
Contact Jennifer Landers
For All Your Real Estate Needs!
Jennifer Landers
Sales Associate
Diane Turton, Realtors - Bay Head Office
88 Bridge Avenue, Bay Head, NJ 08742
Cell:862-812-1251Office:732-295-9700
Email:[email protected]
Web:www.dianeturton.com/jenniferlandersPRIVATE PROPERTIES
NY