Glazer puts two homes on market Buccaneers owner, Manchester United suitor aims to sell one of his two island properties by placing each with different agents.
By STEPHANIE MURPHY, Palm Beach Daily News Wednesday, October 27, 2004 If someone said the British are coming, they're a bit behind the times. Not by centuries, mind you, just several days. Landing first in Tampa Bay Buccaneers country, a film crew from BBC made its way to Palm Beach � arriving the same day a writer visited from Splash magazine and a London newspaper fished for any dish on the luxury real estate being marketed by NFL team owner Malcolm Glazer. The media rush had little to do with pricey land and much ado about turf � specifically Glazer's interest in the English soccer team Manchester United. BBC et al came for a first-hand gander at Glazer's two Palm Beach mansions � on the market for a total of $49 million � on the off-chance that the billionaire's oceanfront assets have any pivotal role in the funds he would need to take over Man U. Valued at roughly $1.4 billion, the world's most lucrative "football" club is reportedly debt-free. Although Glazer appears to want to buy the 126-year-old club, fans of Old Trafford's "Red Devils" are staunchly opposed. In stock purchases over the past week, Glazer upped his stake from 19.2 percent to 28.11 percent � edging closer to the 30 percent threshold that under London Stock Exchange rules would require him to make a formal bid for the whole club. His recent overtures have sparked a tag-team of alternative strategies, from aggressive propaganda campaigns by fan blocs to a Japanese investment bank, Nomura, which is negotiating with a British brokerage firm to block Glazer's takeover bid. Fan groups that blocked Rupert Murdoch's bid for the team five years ago are opposed to a takeover and opposed to any attempt to take the club private. On Monday, Manchester withdrew from talks with Glazer but indicated negotiations may resume. A statement said officials deemed his leveraged offer not in the club's best interests. Cubic Expression, headed by Irish racehorse owners J.P. McManus and John Magnier, is the largest shareholder in Manchester, with 28.89 percent. With competition rife on the playing field and in the boardroom, Glazer apparently decided to fuel some friendly one-upmanship among real estate brokers by listing his Palm Beach properties with two brokers. Jim McCann, vice president of The Corcoran Group and the listing agent for 1482 S. Ocean Blvd., said he was puzzled over the British media's interest in Glazer's house. He dismissed any link between the $19.5 million list price and a soccer team deal. The house was for sale about five years ago, then pulled off the market before being relisted. "I wonder what they think the connection could be?" McCann said. "There may not be a terribly emotional attachment [to the houses] either way. Both are beautiful oceanfront properties, but they only need to live in one. If the other one sells, he'll take this one off the market. They'll keep one to live in, and it almost doesn't matter which." Glazer bought the property in 1989 upon moving to Palm Beach from Rochester, N.Y. After tearing down the existing 1933 house, he built a two-story house with 24-foot ceilings and French doors throughout. The 14,270-square-foot house has a British Colonial elevation, two-story living room, white marble flooring, classic architectural detailing, seven bedrooms and nine-and-a-half baths. The exterior is melon-hued stucco with a white, concrete tile roof. There is a 4,700-square-foot patio, a fireplace and swimming pool. A separate guest house has two bedrooms and one bath, and there is 159 feet of beachfront. Glazer put La Bellucia on the market in April for $29.5 million after paying $14 million for the property in 2000. Located at 1200 S. Ocean Blvd., with more than 4 acres on the ocean, the landmarked 1920 mansion is listed with broker Lawrence Moens. The 10,754-square-foot main house was designed by Addison Mizner for New York banker Willey Lyon Kingsley. Designated a landmark in 1979, it was one of the first properties in town to be officially protected. It was restored about 10 years ago. The house has five bedrooms, 6 1/2 baths, marble and hardwood floors, cypress and stenciled coffer ceilings, and fireplaces. There's a swimming pool, separate gatehouse and room for a tennis court. According to records at the Palm Beach County Property Appraiser's Office, the market value of 1200 S. Ocean Blvd. is $15.22 million, including $14 million for the land. The market value of 1482 S. Ocean Blvd. is $11.1 million, $9 million for the land. Three of Glazer's six children also own homes in Palm Beach. Joel Glazer bought 1000 N. Lake Way in July; Avram Glazer bought 5 Middle Road in May and 137 Woodbridge Road last year; and Darcie Glazer bought 1255 N. Lake Way in January. The four homes' combined market value is almost $24 million. Joel and Avram Glazer, both soccer fans, have represented their father's position in the talks with Manchester and both are involved in the NFL franchise. Malcolm Glazer declined several requests to be interviewed. Avram Glazer also is an executive in the family's New York holding company, Zapata Oil Corp., which was founded by former President George H.W. Bush in the 1950s as an oil-and-gas company. Malcolm Glazer branched out into fish oil production, through a majority ownership interest in Omega Protein, and manufacturing auto airbag fabrics, via Safety Components International. First Allied Corp., his real estate division, owns shopping centers in several states. Other business interests include food service equipment and packaging, broadcasting, healthcare, banking, Internet publications, government securities and corporate bonds. He is ranked No. 244 on Forbes magazine's list of the 400 richest Americans. In 1995, Malcolm Glazer bought the then-foundering Buccaneers for $192 million and immediately replaced the team's manager. The first season with Coach Jon Gruden, Tampa Bay won the Super Bowl in 2003. ------------------------ Yahoo! Groups Sponsor --------------------~--> $9.95 domain names from Yahoo!. Register anything. http://us.click.yahoo.com/J8kdrA/y20IAA/yQLSAA/GtUolB/TM --------------------------------------------------------------------~-> Please use [EMAIL PROTECTED] for general discussion. To unsubscribe send a blank message (from the email account in question) to: [EMAIL PROTECTED] Join as a full member of IMUSA today: http://www.imusa.org/join.htm Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/imusa/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
