Mrjoshua Member Username: Mrjoshua
Post Number: 1303 Registered: 03-2005
| Posted on Friday, April 20, 2007 - 1:31 am: | |
Rock's Jack White Sells Detroit Home By BEN CASSELMAN April 20, 2007; Page W10 The Wall Street Journal Grammy-winning musician Jack White, lead singer and guitarist of rock duo the White Stripes, has sold his Detroit home for $590,000, well below its initial $930,000 asking price. Mr. White recorded his hit 2005 album "Get Behind Me Satan" in the foyer of the 5,800-square-foot home. The 1914 house was designed by C. Howard Crane, best known for theaters on Broadway and elsewhere. The home has four bedrooms, a paneled library, a sunroom and a garden with a koi pond and fountain. Mr. White bought the property in 2003 for $524,000, records show. Last August, he put the house on the market for $930,000 and later cut the price to $650,000. Listing agent Mike Kramar of Coldwell Banker Callan said the buyers are a retired couple from Maryland, but wouldn't identify them.
Mr. White, 31 years old, founded the White Stripes with his then-wife Meg White in 1997. (The couple has since divorced, but continue to perform and record together.) Mr. White has won five Grammies, both with the band and independently. He also belongs to the rock group the Raconteurs, appeared in the 2003 film "Cold Mountain" and now lives in Nashville, Tenn., where he paid about $3.1 million for a nearly 20,000-square-foot house in December 2005. Mr. White declined to comment. In Detroit, the average price of a home fell 23.5% in the first two months of 2007 from year-earlier levels, the Michigan Association of Realtors says. |
Gistok Member Username: Gistok
Post Number: 4152 Registered: 08-2004
| Posted on Friday, April 20, 2007 - 1:45 am: | |
Funny thing is... I can't think of a single Broadway theatre that C. Howard Crane designed... His major claim to fame in NYC was the 4,088 seat Brooklyn Fox (razed 1960's), largest theatre in any of the outlying burroughs of NYC. |
Scottr Member Username: Scottr
Post Number: 495 Registered: 07-2006
| Posted on Friday, April 20, 2007 - 1:55 am: | |
Well, the Detroit Opera House is on Broadway... just not the one most people will think of when they read that |
Fishtoes2000 Member Username: Fishtoes2000
Post Number: 195 Registered: 06-2005
| Posted on Friday, April 20, 2007 - 1:55 am: | |
I heard that the retired couple's move to Detroit caused quite a stir on the MarylandYes! forums. The thread had six replies. (Hey! six is a lot on the MarylandYes! forums.) The couple was seen by many as a strong supporter of the Old Line State and their abrupt exit left former followers bitter and disillusioned. There was no word regarding any financial gain or loss resulting from their real estate transaction. |
Mthouston Member Username: Mthouston
Post Number: 830 Registered: 01-2006
| Posted on Friday, April 20, 2007 - 5:51 am: | |
Slow News Day.......... Nice image though, kinda looks like Michael Jackson. |
Detroitplanner Member Username: Detroitplanner
Post Number: 1214 Registered: 04-2006
| Posted on Friday, April 20, 2007 - 9:01 am: | |
That dude must be full of himself. He owned the property for a couple of years and tried selling it for almost twice what he paid? Whoops better not say that too loudly he might kick my butt at a bowling alley or something. |
Mackinaw Member Username: Mackinaw
Post Number: 2703 Registered: 02-2005
| Posted on Friday, April 20, 2007 - 10:08 am: | |
Goes to show that a star living in a particular house doesn't neccesarily make it worth more. He did make money on a 4-year turnaround, though. Anyone know which house/address? |
Thejesus Member Username: Thejesus
Post Number: 965 Registered: 06-2006
| Posted on Friday, April 20, 2007 - 10:38 am: | |
"Anyone know which house/address?" There used to be more stuff on the site but it's all gone now...but that's the address http://www.detroityes.com/0sea rchboth.htm (Message edited by thejesus on April 20, 2007) |
Thnk2mch Member Username: Thnk2mch
Post Number: 874 Registered: 02-2006
| Posted on Friday, April 20, 2007 - 11:00 am: | |
1701 Seminole |
Mackinaw Member Username: Mackinaw
Post Number: 2705 Registered: 02-2005
| Posted on Friday, April 20, 2007 - 11:59 am: | |
Thanks. Knew it was IV. |
Janesback Member Username: Janesback
Post Number: 316 Registered: 08-2006
| Posted on Friday, April 20, 2007 - 12:02 pm: | |
Is this the same guy that looks like Barny Fife, aka Don Knotts , the one who was the goofy deputy in Andy Griffith? I went to that same site, and everythings gone except the photo of an older gentleman who looks like Knotts? |
Tiorted Member Username: Tiorted
Post Number: 87 Registered: 02-2006
| Posted on Friday, April 20, 2007 - 12:03 pm: | |
1731 Seminole |
Pam Member Username: Pam
Post Number: 1392 Registered: 11-2005
| Posted on Friday, April 20, 2007 - 12:05 pm: | |
quote:I went to that same site, and everythings gone except the photo of an older gentleman who looks like Knotts? That was Knotts. Somebody was trying to be funny. |
Quozl Member Username: Quozl
Post Number: 470 Registered: 07-2005
| Posted on Friday, April 20, 2007 - 12:26 pm: | |
Jack is funny alright: http://www.1731seminole.com/au dio/froggieWentAcourtin.wav |
Detroitbill Member Username: Detroitbill
Post Number: 215 Registered: 09-2006
| Posted on Friday, April 20, 2007 - 2:45 pm: | |
After his selling commissions he probably broke even without discounting the time value of the money. Actually, considering the current market for larger historic homes, its not too bad. Shows there is people still shopping. |
Skulker Member Username: Skulker
Post Number: 3794 Registered: 10-2003
| Posted on Friday, April 20, 2007 - 3:31 pm: | |
Gross sales number to gross sales number, thats 12% return in 4 years. I wouldn't complain. All around, I think the article portrays a very skewed view of this transaction. The seller gunned for an 81% return in four years and settled for a 12% return. Hardly indicative of a terrible market condition. I am also wondering about the 27% drop figure. Is that the City of Detroit or the Detroit region? WSJ likes to use those interchangeably at times. Mr. White more than broke even. Assuming 3% for each broker, $35,400 was taken out of the deal, for a net of $31,000....assuming there were not major upgrades that Mr. White performed like a new kitchen, updated windows etc that should boost the homes value. We'll ignore personalization items like painting everything red and white or some such, which frankly probably limited the selling price more than the newly acquired provenance boosted the selling price. (Message edited by skulker on April 20, 2007) |
Charlottepaul Member Username: Charlottepaul
Post Number: 812 Registered: 10-2006
| Posted on Friday, April 20, 2007 - 3:37 pm: | |
Let me give a heart-felt greeting to Detroit's new couple from Maryland that is going to be moving into this home: WELCOME! |
Tiorted Member Username: Tiorted
Post Number: 89 Registered: 02-2006
| Posted on Friday, April 20, 2007 - 3:46 pm: | |
When the the website http://www.1731seminole.com/ was up it talked about all the improvements he did to the house: HVAC, plumbing, electrical remodeling etc. Well over 100k I would think. It looks to me like Mr. Nashville lost a bunch on this deal. |
Swingline Member Username: Swingline
Post Number: 793 Registered: 11-2003
| Posted on Friday, April 20, 2007 - 3:49 pm: | |
I believe that I read in a profile somewhere that Mr. White did spend a bit of money on renovations. Backyard, basement and kitchen and that kind of thing. I think if you add in his renovation costs, he might have lost some money on the sale. 1701 Seminole is a nice IV property, but $525K in 2003 seems a little above the market to me. I think that he did well to get $590K in 2007. He lost money because he overpaid for the house. It's ok though. Entertainment industry folks can afford it, right? He probably spends more on catering for a single studio session than he lost on this sale. I'm kind of sorry to see Mr. White cut this tie to Detroit. |
Quozl Member Username: Quozl
Post Number: 474 Registered: 07-2005
| Posted on Friday, April 20, 2007 - 3:56 pm: | |
quote:I'm kind of sorry to see Mr. White cut this tie to Detroit Don't worry, he still has loads of family still up there including his Dad in Livonia. Please don't forget about his ex-inlaws in GP! Anyone know where MegBot is living these days? |
Dabirch Member Username: Dabirch
Post Number: 2255 Registered: 06-2004
| Posted on Friday, April 20, 2007 - 5:28 pm: | |
quote:Anyone know where MegBot is living these days? Same place she has for a while. She hasn't moved. I have to say, it was kind of fun running into Renee at Farmer Jack and Blockbuster every once in a while. |
Jerrytimes Member Username: Jerrytimes
Post Number: 47 Registered: 04-2007
| Posted on Friday, April 20, 2007 - 5:40 pm: | |
I've heard that Jack doesn't have much nice to say about where he's from. |
Quozl Member Username: Quozl
Post Number: 476 Registered: 07-2005
| Posted on Friday, April 20, 2007 - 5:47 pm: | |
quote:NEW YORK (AP) — Jack White has become one of the most famous faces on Detroit's music map, but the rocker said he had to quit his hometown because it turned against him. White, who now lives in Nashville, with his wife, model Karen Elson, and their baby daughter, Scarlett, told The Associated Press in a recent interview that he needed to leave Detroit because "I couldn't take the negativity anymore." "It was so super-negative," said White, 30, leader of White Stripes and a member of the rock quartet The Raconteurs. "It was draining me, I had to get somewhere where I could breathe again." White told the AP that although he tried to help boost the city's rock scene — working with unknown bands and acting as its musical ambassador — some in the community didn't appreciate it. "I was just trying to fight a losing battle, trying to keep a community of musicians together and keep it positive at the same time," he said. "I did that part of trying to be non-egotistical, I tried to not make it about myself." White said the White Stripes aren't the only band to get ill treatment from their native city. He also griped about a recent article in a New York publication that lambasted the homegrown band The Strokes. "When that happens, you can't stay in your hometown," he said. "Because they'll just turn on you." |
Eastsidedame Member Username: Eastsidedame
Post Number: 112 Registered: 12-2006
| Posted on Saturday, April 21, 2007 - 2:43 am: | |
In Detroit, Charles Howard Crane designed the Fox Theater, United Artists Theater and the first theater in Detroit specifically for showing films (Columbia Theater 1911)...oh, yeah, and Orchestra Hall! All together, he designed 52 theaters here. That must be some house...I'll bet it has great acoustics! |
Thnk2mch Member Username: Thnk2mch
Post Number: 877 Registered: 02-2006
| Posted on Saturday, April 21, 2007 - 9:05 am: | |
quote:1731 Seminole You are correct. I stand corrected. Thanks Tiorted. |
Dougw Member Username: Dougw
Post Number: 1656 Registered: 11-2003
| Posted on Sunday, April 22, 2007 - 3:04 pm: | |
quote:That dude must be full of himself. He owned the property for a couple of years and tried selling it for almost twice what he paid? I give him a lot of credit for bringing the price down to market value so it actually sold, at least. There are plenty of assholes out there who will just sit on a house, offering it at way above market value for years on end while it sits vacant. |
Rhymeswithrawk Member Username: Rhymeswithrawk
Post Number: 680 Registered: 11-2005
| Posted on Sunday, April 22, 2007 - 4:19 pm: | |
If you're looking for a step down from Jacky's mansion, I'm pretty sure that Jason Stollsteimer of the Von Bondies still has his house for sale in Boston-Edison. I know he was considering renting it if he couldn't find a buyer, though. |