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Kelsey Grammer trying to quick-flip houses

 
Actor Kelsey Grammer is selling in Bel-Air and Holmby Hills.
Actor Kelsey Grammer is selling in Bel-Air and Holmby Hills.
GUS RUELAS / AP

The Wall Street Journal

Actor Kelsey Grammer is trying to sell two Los Angeles houses he bought last year.

Grammer, 53, of Cheers and Frasier, is asking $4.35 million for his estate in Bel-Air. He bought the 7,600-square-foot house, which was built in 1999, for $4.05 million.

The property is a relatively flat 1.5-acre lot that has views of Los Angeles and a long private driveway that many celebrities favor. A buyer would likely renovate or tear down the house, says listing agent Mauricio Umansky, of Hilton & Hyland.

The second house Grammer is selling is an English Normandy-style house in Holmby Hills on less than an acre with seven bedrooms, nine bathrooms and a gym. He listed it this summer for $19.9 million but recently lowered the asking price to $18.9 million. (Umansky also has that listing.)

Last year, Fox chose not to renew Grammer's sitcom Back to You after its first season.

NYC DEVELOPER

FACES LAWSUIT

A penthouse buyer at The Grand Madison, a Fifth Avenue development in Manhattan, is suing El-Ad Properties for $6.4 million, claiming fraud and breach of contract. It's the third complaint filed against the developer regarding sales of apartments built on the roofs of existing buildings; the other two suits involve the company's work on the iconic Plaza Hotel.

In June 2006, Hiralion Real Estate -- a Panama-based corporation created to purchase the unit -- agreed to pay $6.85 million for the 12th- and 13th-floor penthouse, and made a $1.24 million down payment, according to the complaint. The unit's upper floor was supposed to have a ''breathtaking [Madison Square] Park view,'' but was, in fact, ''an entombed outdoor space with buttresses'' with a wall blocking the view, the complaint states.

The lawsuit filed in New York state Supreme Court by law firm Shiboleth LLP names El-Ad as well as a real-estate marketing firm and a law firm. El-Ad, which bought the Madison Square building at 225 Fifth Ave. in 2004, called the suit ''baseless'' and the buyer's obligations to honor the purchase contract ``rock solid.''

NORMAN'S EX BUYS

A HAMPTONS ESTATE

Flush with a $100 million-plus divorce settlement from golfer Greg Norman, Laura Andrassy is buying an estate in New York's Hamptons.

Andrassy is in contract to pay $7.55 million for a 0.92-acre property on Southhampton's leafy Wyandanch Lane, near the ocean, and plans to tear down the nearly 3,500-square-foot house, people familiar with the situation say. The property, with a pool, was listed a month ago for $8.75 million with Tim Davis, of Corcoran Group. She's upgrading from a Southampton house that she bought last year and that's farther from the water.

Norman, a native Australian, spent many months in the 1980s and 1990s as the world's No. 1-ranked pro golfer. The Normans waged a bitter public divorce battle that ended this year when Andrassy won $103 million in assets, court records show. This past June, Norman married former tennis star Chris Evert.

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