The Robin Masters Estate (Pahonu)

[KENJI]

I am interested in how the purchase of Pahonu will affect the prices of the surrounding homes. The Nesbitts purchased it for $8.7 million, more than the asking price, but still under assessed value which shouldn't be confused with appraised value (more accurate), BUT their Obama connection and the improvements they will make to Pahonu might help drive prices up in the future. Kevster mentioned they got a mortgage for $9.5 million so the appraised value should be around that figure. One neighbour Lee Siegel, who lives two doors down (his house was used in a recent episode of HF0) was very excited of the possibility of Obama moving in the area which in my view would've pushed prices much higher. That appears not to be the case (at least for now ), but even if the President is just visiting his best friend a few doors down, it can't be bad for property values. Lee might like to see an increase in property values, but with that comes higher property taxes and some owners might not be able to afford them if they go too high. Lee's partner in the property Dr. Elizabeth Blalock, who is a neurologist should have enough to cover any increases, plus she will have something in common with Dr. Anita Blanchard. Anyway, it will be interesting to see the next few tax assessments for the area to get a better idea. Also the sale of other homes close to Pahonu will be a better indicator of what this transaction has done to home prices. I'm sure some people will pay more so they can say "I live doors down from the President's best friend, who by the way visits here at Christmas." Time will tell!

Here are a few links that gives us some rough info on values.

This link gives a better idea on how the Pahonu deal completed from start to finish.
http://www.oahure.com/home/201400772/41 ... o-HI-96795
*****They just took down this link a few minutes ago.....it was very detailed....darn it!*************
I think if you sign in you might still have access.....contact them if you are interested.

An actual appraisal would be better, but here are a few other links giving us their two cents worth.

http://www.trulia.com/homes/Hawaii/Waim ... o-HI-96795
http://www.zillow.com/homedetails/41-50 ... 5637_zpid/

Here are a few of the other homes in the area and their tax assessments.
http://www.city-data.com/honolulu-count ... way-9.html

[Steve]

Kenji, you will have to have your friend let you know what type of work goes on their, especially if cameras go up around the property (as I am still curious about the removal of all the trees and bushes that were blocking the view of the gate house from the highway)....

[Fat Jack]

Also, just my personal opinion, but I think Steve, a couple posts back, hit on the scenario that sounds very plausible, at least to me. Gonna take a WHOLE lotta money to refurb, maintain and stay at Robin's Nest....can't think of anyone more able than Miss Winfrey, unless it'd be Mr. Gates........

We know that the people involved are associated with Mr. Obama; are they also associated with Ms. Winfrey?

Think this uber rich woman wouldn't do anything for the Obama's...From Chicago' Grant Park Rally for the newly elected President back in 2008.........

I agree with Steve...I can't get the Oprah connection out of my mind. From Mary Worrall saying "a kama'aina with strong ties to Hawaii" bought it to the Telluride attorney connection Kenji dug up. Nesbitt is definitely not kama'aina and I can't come up with any ties he has to Hawaii except that he vacations there with Barack. At least Oprah has had a home on Maui for years now. I suppose Oprah could've just recommended her Telluride attorney to Nesbitt since they're (Oprah, Nesbitt, & Obama) all very close friends. I'm just not 100% sold yet that Nesbitt is the true buyer.

If Nesbitt is the real buyer, I do believe he'd have no problem whatsoever paying for renovations/upkeep/taxes etc. He was founder/President/CEO of “The Parking Spot”, which sold in 2011 for $360 million. How much of that he got who knows. His latest endeavour is The Vistria Group, a private equity firm.

Here's his Chicago mansion:
https://www.flickr.com/photos/brulelake ... otostream/

...and here's Marty on the left aboard Air Force One:


...and here's his Bloomberg Business snapshot:

"Mr. Martin H. Nesbitt is a Co-Founder of The Vistria Group, LLC and served as its Co-Chief Executive Officer. Mr. Nesbitt co-founded PRG Parking Management, L.L.C. (doing business as The Parking Spot) in 1998 and served as its Chief Executive Officer and President. He was responsible for running all strategic and operating aspects. He served as a Managing Director at Green Courte Partners, LLC until 2012. Mr. Nesbitt served as Vice President and Officer of the Pritzker Realty Group, L.P, where he was responsible for procuring new real estate investment opportunities and managing retail investments and developments. Prior to Pritzker, from 1989 to 1996, he was an Equity Partner and Investment Manager at LaSalle Partners, or LaSalle, with a variety of responsibilities, including investment management for retail properties, management and leasing for office projects and acquisition, financing and management of parking properties. Mr. Nesbitt served as a Vice President at LaSalle Partners. While at LaSalle, he also managed several specialty fund portfolios of non-traditional real estate investments. Prior to joining LaSalle, he was employed by General Motors Acceptance Corporation in the area of financial planning. He has been a Director of Jones Lang LaSalle Incorporated since March 1, 2011. He has been an Independent Director at Norfolk Southern Corporation since February 18, 2013. He serves as a Member of Advisory Board at United Shore Financial Services, LLC. He serves as a Trustee of Rush University Medical Center, Chicago's Museum of Contemporary Art and Rush Medical Center. He served as a member of The University of Chicago Laboratory School Board. He served as a Trustee of Pebblebrook Hotel Trust from December 2009 to July 1, 2010. He served as the Chairman of Chicago Housing Authority. He served as national treasurer of President Obama's 2012 and 2008 presidential campaigns. He is active in the Big Brothers and Big Sisters of America. Mr. Nesbitt has a Masters of Business Administration degree from the University of Chicago and a Bachelor of Science degree and honorary doctorate from Albion College, Albion, Michigan."

[KENJI]

Kenji, you will have to have your friend let you know what type of work goes on their, especially if cameras go up around the property (as I am still curious about the removal of all the trees and bushes that were blocking the view of the gate house from the highway)....

Hi Steve,
Actually I don't have a friend in this area so any progress on the place will come to us via MM members in the area, news reports or when one of us takes a trip out there and reports back. I'm curious on the clear cut too....it does open it up, letting light back in and it also gives the Secret Service a great vantage point from the second floor of the gate house when someone important comes for a visit. I'll put money on it that cameras will be installed! I'm sure Starguard will be calling very soon to give the Nesbitts a few estimates on supplying them with the latest DRACOS security system and on-site security personnel, but I'm guessing Marty's friend has a few connections in this area and will talk him out of it.

[KENJI]

Pahonu on Twitter.........not many tweets though.

https://twitter.com/hashtag/pahonu

[KENJI]

This might interest a few of our members..............
http://fineartamerica.com/products/paho ... print.html

[ConchRepublican]

This might interest a few of our members..............
http://fineartamerica.com/products/paho ... print.html

These are very cool! There may be new additions to Flemingo Key.

[KENJI]

This might interest a few of our members..............
http://fineartamerica.com/products/paho ... print.html

These are very cool! There may be new additions to Flemingo Key.

EXCELLENT!!!! You'll have to post a pic when they are up!

[J.J. Walters]

I go offline for a while and look what happens! This is good news, right? It seems like it is, with him being the sole purchaser and all. And he's got the money for renovations, that's for sure. But I'm skeptical. It sure seems like it's lining up to be for the Obama's after they leave office. And that wouldn't be a good thing, for us Magnum fans that is.

[golfmobile]

J.J.!!

Great to hear from you. You've been quiet for quite some length of time, it seems to me. I'm glad you at least followed this, though I imagine you had to catch up on quite a few pages! Hope all is well with you and yours.

Going to be bypassing Hawaii on our next trip -- starting Sunday! We're off to . . . . wait for it, are you ready?

Tahiti!!

Three days on Moorea and four on Bora Bora in an overwater bungalow. Of course, we'll see most of the same fish we see in Hawaii. Next year: the Maldives for Indian Ocean fish to see while snorkeling.

Still gotta stay up to date with all the Magnum Maniacs. Always! There is NO better group anywhere on the internet. (Take that, Facebook!!)

golf

P.S. Sorry, all! I probably should have put this in a PM. A little too many of those umbrella drinks before I even get there . . . . .

[KENJI]

J.J.!!

Great to hear from you. You've been quiet for quite some length of time, it seems to me. I'm glad you at least followed this, though I imagine you had to catch up on quite a few pages! Hope all is well with you and yours.

Going to be bypassing Hawaii on our next trip -- starting Sunday! We're off to . . . . wait for it, are you ready?

Tahiti!!

Three days on Moorea and four on Bora Bora in an overwater bungalow. Of course, we'll see most of the same fish we see in Hawaii. Next year: the Maldives for Indian Ocean fish to see while snorkeling.

Still gotta stay up to date with all the Magnum Maniacs. Always! There is NO better group anywhere on the internet. (Take that, Facebook!!)

golf

P.S. Sorry, all! I probably should have put this in a PM. A little too many of those umbrella drinks before I even get there . . . . .

Bon Voyage Golf!

You are going to love it there!!

[KENJI]

Inside Edition's story on the sale of Pahonu.............

https://www.youtube.com/watch?v=m8VOxWaQpUw

KHON2 News story on the sale.........

https://www.youtube.com/watch?v=36L1e8W8vSE

[steveadl]

Thanks for the video link Kenji.

With regard to the sale and the Obama's - there's a couple things I don't get, perhaps not being American?
- First some of the comments here being so opposed to Obama being the person who lives there. I understand politics, but having said that - even if a political leader of the opposition party to which I support were in there, it really wouldn't bother me. But to each their own I guess.

- Secondly, can someone explain to me why this rumour mill is still going on? We have a direct statement from Marty saying he is the buyer, plus an official statement from the White House saying there is no comment as Obama is not in any way involved in the transaction.

Is the theory that Marty bought it to flip it to Obama later on? Is that why the rumours persist?

[Doc Ibold]

Thanks for the video link Kenji.

With regard to the sale and the Obama's - there's a couple things I don't get, perhaps not being American?
- First some of the comments here being so opposed to Obama being the person who lives there. I understand politics, but having said that - even if a political leader of the opposition party to which I support were in there, it really wouldn't bother me. But to each their own I guess.

- Secondly, can someone explain to me why this rumour mill is still going on? We have a direct statement from Marty saying he is the buyer, plus an official statement from the White House saying there is no comment as Obama is not in any way involved in the transaction.

Is the theory that Marty bought it to flip it to Obama later on? Is that why the rumours persist?

Hi steveadl,

American politics is quite partisan to say the least, and there are plenty of people who dislike the president - right, wrong or indifferent. Maybe I'm old school, but I'm of the belief that you should respect the office even if you don't agree with the politics of the chief executive or his party. That being said, these forums aren't a police state and people are entitled to their own opinions... So I let the conversation continue as long as it remains relatively civil and people aren't attacking each other.

The rumor mill is pretty much as you stated, in that the theory is that Marty will turn it over to the Obamas for a presidential residence once Barack Obama's term is over, or they will buy it from him. I'm not exactly sure of all that, but I am happy that Pahonu will remain intact and won't be subdivided into a bunch of smaller lots, thus destroying a pretty cherished landmark around these parts... Which is what was the previous rumor. As it wasn't open to the public previously, I couldn't care less who lives there, as long as they keep the property intact and do something to restore it and maintain it.

-Doc

[Steve]

Thanks for the video link Kenji.

With regard to the sale and the Obama's - there's a couple things I don't get, perhaps not being American?
- First some of the comments here being so opposed to Obama being the person who lives there. I understand politics, but having said that - even if a political leader of the opposition party to which I support were in there, it really wouldn't bother me. But to each their own I guess.

- Secondly, can someone explain to me why this rumour mill is still going on? We have a direct statement from Marty saying he is the buyer, plus an official statement from the White House saying there is no comment as Obama is not in any way involved in the transaction.

Is the theory that Marty bought it to flip it to Obama later on? Is that why the rumours persist?

Hi steveadl,

American politics is quite partisan to say the least, and there are plenty of people who dislike the president - right, wrong or indifferent. Maybe I'm old school, but I'm of the belief that you should respect the office even if you don't agree with the politics of the chief executive or his party. That being said, these forums aren't a police state and people are entitled to their own opinions... So I let the conversation continue as long as it remains relatively civil and people aren't attacking each other.

The rumor mill is pretty much as you stated, in that the theory is that Marty will turn it over to the Obamas for a presidential residence once Barack Obama's term is over, or they will buy it from him. I'm not exactly sure of all that, but I am happy that Pahonu will remain intact and won't be subdivided into a bunch of smaller lots, thus destroying a pretty cherished landmark around these parts... Which is what was the previous rumor. As it wasn't open to the public previously, I couldn't care less who lives there, as long as they keep the property intact and do something to restore it and maintain it.

-Doc

Thank You Doc (and Steveadl)....Obama is the 11th President since I was born..... good, mediocre or bad I believe everyone of them loved the Country and tried their best. That being said I don't care if it is the Obama's or Mr Nesbitt and agree with Doc that it is nice it will remain entact. If it is Obama I keep telling my wife that the oldest daughter (Malia) is the same age as our son and they share the same alergist here in Chicago so his mission is to marry into the family (hey, it's one way to get inside the property)