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REAL ESTATE
From the RealEstateJournal Archives

Green Christmas

by Troy McMullen
From The Wall Street Journal Online
August 01, 2005

Bing Crosby's former home in Rancho Mirage, Calif., sold for close to its $3 million asking price. Robert Teller, a businessman from Newport Beach, Calif., and his wife, Rita, purchased the house. The seller, Alex Sinclair, paid $1.35 million for it in December 2003.

Mr. Crosby, who died at age 73 in 1977 after appearing in more than 50 films, and his first wife, Dixie Lee, built the single-story stucco home in 1952. It measures more than 6,700 square feet with five bedrooms, a pool, spa, cabanas and a guest house. It sits across a highway from the Thunderbird Country Club, a gated community that's home to former President Gerald Ford. An avid golfer, Mr. Crosby had a tunnel for golf carts built under the highway. Peggy Meier Real Estate in Palm Springs represented the buyers.

Mr. Teller, 66, is founder and chairman of Tel Phil Enterprises, the company that operates one of the country's largest weekly swap meets at the Orange County Fairgrounds in Costa Mesa. He also is founder of the Bob's Old Fashioned Ice Cream chain of ice-cream stores.

Artful Abode

California art collector Edward R. Broida has listed his Santa Fe, N.M., home for $12.25 million. Mr. Broida, a former architect and real estate developer, built the house in 2004. The contemporary estate, on 16 acres in the gated community of Las Campanas, measures 11,800 square feet with four bedroom suites, a wine cellar and two private offices. Mr. Broida built hallway galleries and a commercial-grade humidification system to house and protect art works, says listing broker Neil D. Lyon, of French & French/Sotheby's International Realty.

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