The Teddy Forstmann Property Sell Off

The New York Post let the real estate cat out of the bag yesterday when they gave the juicy low down on the east coast residential property holdings of recently passed Wall Street billionaire and philanthropist Teddy Forstmann, now being prepped for sale and shopped around by the executors of his estimated $1.6 billion estate.

Mister's Forstmann's name many not be instantly recognized by folks who don't read about global finance, big business and other such affairs but he will certainly be known to gossip glossy readers as one of Princess Diana's several (and alleged) man friends and, for the last few years, up until he succumbed to cancer last November (2011), the long-time man-mate of raven-haired beauty and Top Chef hostess Padma Lakshmi. 

The peeps at The Post revealed Mister Forstmann's (approx.) 9,000 square foot ocean front mansion on Southampton's supah-swank Meadow Lane will soon hit the market with a $34,000,000 price tag and his New York City spread—a 4,000 square foot duplex atop a Rosario Candela-designed building on East 70th Street with wrap around terrace and Central Park view over the Frick Collection—is currently and quietly being shown to relevant real estate agents and verifiably affluent buyers with an unofficial/off-market asking price of $36,000,000.

What The Post didn't mention is that in addition to his significant east coast cribs Mister Forstmann has long owned a pretty darned delicious estate in the Beverly Hills Post Office area that Your Mama hears through the Beverly Hills real estate gossip grapevine is expected to become available in the not too distant future with an asking price somewhere in the neighborhood of $17,000,000.

Property records are a tiny bit spongy but as best as we can tell Mister Forstmann paid $6,500,000 for the gated estate in May 1990.

The Los Angeles County Tax Man shows the traditional, colonial-style crib sits on 3.59 acres near the top of Coldwater Canyon, was originally erected in 1937, measures in at a sizable but far from overblown 7,136 square feet and includes 6 bedrooms and 6 bathrooms. We have no idea if the Tax Man's records are an accurate reflection of the mansion's current size and etc.

The desirably private, plateau-like property has a long and dramatic gated drive that snakes up a tree-shaded hillside to a pair of motor courts, one at the front of the house the other around the side where there's a three-bay attached garage. The far end of the property hangs over famed Mulholland Drive and includes an all but hidden from view, tennis court with night-lights and viewing platform, a massive flat and manicured free-form lawn, various courtyard gardens, and a resort-y swimming pool complex with wide sunbathing and lounging terraces, separate sunken spa, massive outdoor fireplace, and pool side cabana.

Other entertainment industry types who own homes in the immediate 'hood include 2002 Oscar-nominee Queen Latifah, actor/comedian David Alan Grier, and thrice Oscar-nominated actress Amy Adams.

aerial photo: Google