Abbe Lane, an American actress & singer who was once married to band leader Xavier Cugat and described as “the swingingest sexpot in showbusiness” has placed her Los Angeles residence on the market for $19,750,000.

The property, which is represented by Jeff Hyland of Hilton & Hyland in Beverly Hills is located in the Holmby Hills neighborhood of Los Angeles.

The home resembles a New England flavor with 5 bedrooms, 10 baths on 1.3 acres of property. The square footage is 9,500 square feet and The Wall Street Journal is reporting the property taxes as $55,000 annually.

A Latin dancer and singer, her most successful album was a collaboration with Tito Puente entitled Be Mine Tonight.

While she was loved in Latin & Italian circles, Abbe Lane was born of Jewish parents in Brooklyn, New York.

Married to Cugat from 1952 to 1964, the world famous band leader would eventually marry the Latin bombshell Charo.

Ms. Lane renovated the property to include additional bedrooms, a wine cellar, gym and conservatory. The property was prevously owned by California insider Justin Dart, an heir to the Walgreen’s drugstore chain and former federal appointee in the Reagan & Bush Administrations.

The Wall Street Journal yesterday reported that a $65 million estate north of San Francisco is under contract for full asking price. Listed by Olivia Hsu Decker of Decker Bullock Sotheby’s International Realty, the mansion was ranked in last year’s Ultimate Homes State by State Edition as one of four $65 million listings in California.The state is also home to the country’s most expensive listing, the $165 million Beverly House Compound, which once belonged to William Randolph Hearst. California hosts two of the nation’s five nine-figure listings-a Holmby Hills estate called Fleur de Lys is on the market for $125 million. A $75 million Corona del Mar home is available as well.

http://www.realestatejournal.com

Check out this story from yesterday’s Boston Globe on the $21 million 21,000-square-foot mansion under construction in Weston, Mass.

http://www.boston.com/news/local/articles/2007/12/16/living_large/?page=1

Further proof that some markets and some locales are completely resistant to any kind of real estate downturn, Prudential Douglas Elliman Real Estate has released its third quarter report on Manhattan condos and co-ops, and the numbers are astonishing. Year over year, the report cites a 43.6 percent drop in luxury inventory and an increase in luxury aggregate sales dollars of 87.1 percent! Don’t believe me? I didn’t believe it either. See for yourself — check out page 4 of the report at:

http://www.prudentialelliman.com/NYCPhotos/retail_reports/mmo_3q07.pdf

Saudi Arabian Prince Bandar bin Sultan may have taken his $135 million Hala Ranch off the market, but last week he sold one of his other properties for $36.5 million-an Aspen record. Reportedly, the buyer was Jeffrey M. Soffer, a principal in Turnberry Associates, a huge real estate development company based in Florida and Nevada. The home reportedly sits on the hillside above the Hala Ranch, and is 14,395 square feet on 66.6 acres. Joshua & Co., which had he Hala listing, represented both sides of this deal, according to the Aspen Daily News.

http://www.aspendailynews.com/archive_23158

Some people’s view of the wealthy may be inspired by Dickens’s Scrooge, but this survey shows quite the opposite. According to a new Wells Fargo study, charitable giving, volunteerism and caring for loved ones are key priorities. It’s also interesting to look at the four wealth lifecycle categories and the differences between them. Which category do you fall in?
Thanks to our senior freelance writer, Camilla McLaughlin, for sharing this story with me this week.

www.businesswire.com

According to the Los Angeles Times, one of professional football’s all-time greatest players is now downsizing.

Jerry Rice, arguably the greatest player in the history of the NFL has listed his three-story Atherton, California estate for $22 million dollars with Pierre Buljan of the Pierre Buljian Group/Cashin & Company of Burlingame.

Mr. Rice and his wife Jackie have decided to place the property on the market with their children headed for college.

Rice, the 16th pick of the 1985 NFL draft by the San Francisco 49′ers is the league’s all-time reception leader with 1,549 catches, 22,895 receiving yards and 209 total touchdowns.

Rice, who played for the 49ers, Raiders and Seahawks was a thirteen-time Pro Bowler and a member of the 1980’s & 1990’s All-Decade Teams.

Rice, who caught 22 touchdowns in just 12 games one season, played in 303 games and caught passes in a record, 274 consecutive games. Mr. Rice is a Super Bowl MVP and played on three championship teams.

In total, Mr. Rice appeared in 4 Super Bowl championships.

In retirement, Mr. Rice is probably best known for his television appearance on the popular reality television show, Dancing with the Stars where he reached the finals with professional dancer Anna Trebunskaya.

The home, which took three years to build is just five years old. Considered “California French” in style and architecture, is on the market for the first time.

For more about the property, visit www.pierrebuljan.com

According to The Wall Street Journal, a wealthy hedge-fund manager recently purchased The Forbes Ranch for the record price of $175 million dollars.

The transaction represents the single largest home purchase in the United States to date.

Mr. Louis Bacon, head of Moore Capital Management was the buyer of this corporate retreat which was purchased by the late Malcom Forbes in 1969. Forbes, who died in 1990 used the property to entertain guests and corporate clientle.

The property is located in Colorado in the small community of Fort Garland. It is the state’s largest privately deeded ranch. The ranch is officially known as Trinchera Ranch which occupies three, 14,000-foot high mountains with spectacular views.

News of the sale was reported locally by The Aspen Daily News.

In other news effecting the luxury segment, the home of Bander bin Sultan of Saudi Arabia just came off the market.

The property, located in Aspen was represented by Joshua Saslove of Saslove and Company.  The Saudi Prince was formerly the Ambassador to the United States for the Saudi government.