Sara Clemence

Once again, Forbes’ Sara Clemence researches extensively to provide a luxury real-estate list. Previous pieces tracked the most expensive zip codes or rentals; this latest one tackles the priciest penthouses in several U.S. cities.

Hedge-funder Martin Zweig’s $70 million penthouse tops the list once again here in Manhattan. However, it’s unfortunate that 16-room spread at the Pierre gets the 2006 prize, considering that it hasn’t budged since October 2004. Not even a price cut to entice wealthy buyers.  read more »

So is Mr. Zwieg serious about selling the 11,000-square-foot apartment, or does it remain on the market solely to take the top spot on real estate "best of" lists?

- Michael Calderone

Today, Forbes' Sara Clemence investigates why Bill Cosby has kept busy lately transferring the ownership of his East 71st townhouse. Ms. Clemence speculates about why the ownership was in Catherine C. Carter's name, followed by Mr. Cosby alone, next Mr. Cosby and his wife Camille, and most recently, an LLC.

"The deed, however, has been held since 1990 by a Catherine C. Carter, whose Santa Monica address is the same as that for COC Productions, which Cosby's wife, Camille, heads. That's not so odd, real estate lawyers say--Carter could be an employee or family friend, holding the property for the the Cosbys so their names would not appear in public records. High-profile people frequently conceal their ownership by buying real estate through trusts or corporations."

So who is the mysterious Ms. Carter?

Well, she is more than just an employee or family friend. Ms. Carter is Mr. Cosby's mother-in-law, and had ownership transferred to her name in 1990, according to the New York Law Journal . Three years earlier, Mr. Cosby purchased the $6.2 million brownstone as a surprise gift for his wife, so he put the ownership under Mary E. Waller, his former business partner. Their partnership ended on bad terms, and ownership went to Camille's mother. Now one mystery is solved.  read more »

But a few questions still remain. Is Mr. Cosby just being clever with ownership for tax purposes? Or could he be planning to put it on the market? That remains to be seen.

-Michael Calderone

School’s starting and parents will soon hear their bright young undergrads complain about lousy dorms. While you can go into the typical “when I was your age” diatribe, there is another way: simply buy them an apartment.

Not just for the overly privileged, many parents view buying an apartment in a college town or city as a wise investment, according to Forbes’ Sara Clemence. Digging through real estate data, she determines the best areas for appreciation near colleges (New York City ranks #4).  read more »

While this seems like a win-win for both parents and children, there are those intangibles of on-campus life—lack of privacy, obnoxious roommates, and drunken freshman puking in the hallway—that would unfortunately be lost.

-Michael Calderone

Forbes' Sara Clemence trudges through economic data to weave together this year's list of the 10 Most Overpriced Places in the U.S. Once again, New York gets beat out by Seattle (a city that's famous for World's Fair relics, Kurt Cobains-in-training journaling on the Vashon Island ferry , excellent coffee, and a wacky new library.

Although New York missed the top spot, there are other reasons to celebrate throwing away money in the metropolitan area. Two overpriced places across the Hudson, Bergen-Passaic and Middlesex (whence this reporter hails), also made the Top 10.  read more »

-Michael Calderone