Real Estate Roundup: The Media Mavens

What does the CEO of Ebony magazine have in common with a former US Weekly editor, a Men's Journal overseer, and a Martha Stewart heckler? They are all female media execs looking to seal a real estate deal.

But they have their differences, too.
Linda Johnson Rice
Chairman-CEO Johnson Publishing
Ebony & Jet Magazine

The CEO of the Ebony/Jet magazine empire, Linda Johnson Rice, this week put her 4-bedroom, 6-bath condo on Chicago's Gold Coast up for sale for $2.9 million, reports a Chicago Tribune blogger.

The Johnson Publishing heiress, who also is chairwoman of the company her late father, John H. Johnson, founded in 1942, lives in a double unit on the 35th floor. The 5393-square-foot home at 1040 N. Lake Shore Drive has views of Lake Michigan from the den, according to the Coldwell Banker listing details.

Carpeted throughout the bedrooms and first-floor office, the home has a decorative-only fireplace in the master suite. The large formal dining room has marble flooring, while the living room and dining room sport hardwood. Since the listing, which is with agent Katherine Chez, is spanking new, we don't have photos yet.

There is also no word as to where Johnson Rice, who The Chicago Sun-Times named as one of the Top 10 Women in Media and as one of the city's 100 Most Powerful Women, might be going, but rumors say she is also looking to sell the company daddy built. The empire buyer may be none other than no-relation Magic Irving Johnson, according to Black Voices.

Jane Wenner
Vice President Wenner Media
Rolling Stone, Men's Journal

Jane Wenner, estranged wife to Rolling Stone founder Jann Wenner, recently bought out his stake in two of their residences for just over $20 million.

Jane paid her husband $17.57 million for his share of the Amagansett, NY, house they bought together in 1991 on an 11.6-acre beachfront parcel, reported the New York Times. About the same time, she paid this chief executive of Wenner Media, which publishes Rolling Stone, Us Weekly and Men's Journal magazines, $4 million for his stake in the Upper West Side town house they once shared.

Jane has been living in the 5-story unit at 37 West 70th Street, purchased from the estate of the designer Perry Ellis for $4.2 million in 1987, with the couple's three sons since the separation. For the past 15 years, Mr. Wenner has lived elsewhere on the Upper West Side with his partner, Matt Nye, a designer and former model, according to the Times.

When not on West 74th Street or at their Long Island Sound home, the Wenner-Nye family (which includes three kids of their own--via adoption or surrogacy) can be found at their 62.9-acre estate in Tivoli, in upstate New York, which they bought in 2007 for $5.8 million, reported the New York Observer. Wenner also owns a home in Sun Valley, Idaho.

Janice Min
Former Editor-in-Chief
Us Weekly

Janice Min, the former Us Weekly editor-in-chief who resigned last summer is looking for a buyer for her Soho loft, priced at $7.395 million with the Brown Harris Stevens agency.

Min's husband, Peter Sheehy, purchased the fifth-floor corner unit at 285 Lafayette Street for just over $4 million in 2005.

The 3,795-square-foot home, with a keyed elevator that opens into the living and dining areas, was renovated in 2009. The original 1890's rough-hewn oak beams remain, according to the listing detail. The master suite faces north and has an over-sized marble bath en suite complete with deep soaking tub, steam shower and large vanity. The suite also has two closets and an exercise area. Currently with only two bedrooms, there is space to add a third.

After buying this home, Min sold another in 2006 for $3.15 million. It was a the three-bedroom, three-bath condo in the Porter House, on West 15th Street in the meatpacking district, according to The New York Observer.

We don't know if Min is selling due to her job loss or what, but in the near future she may be planning to launch a "celebrity mom-focused website" for media mogul Barry Diller or AOL, reports Gawker.

Alexis Stewart
Heir to Martha Stewart Living Omnimedia
Co-Host of Whatever, Martha

Martha Stewart's only child, daughter Alexis, recently reduced to $11.9 million the price on her Tribeca penthouse that her mom purchased for her in 1999 for about $3 million, according to the Realestalker.

This 3-bedroom, 3.5-bath duplex truly has floor-to-ceiling windows: The living room has a solarium glass ceiling and Hudson River and city views. The 3,884 square foot home also has seamless gray terrazzo floors and custom-designed wood shelving and integrated built-ins -- very tasteful, just as you'd expect from Martha's daughter.

The home, listed with Dolly Lenz at Prudential Elliman, first went on the market in 2007 for $12.4 million. It then went off the market and back on Fall 2008 for the same price. After her third re-listing in late 2009, Stewart upped the price to $12.95 million, which makes the new million-dollar price cut look like a deal for those potential buyers who aren't keeping track.

Heir to her mommy's throne at Martha Stewart Living Omnimedia, the 44-year-old Alexis currently makes a living with the company, where she co-hosts Whatever with Alexis and Jennifer on Sirius Satellite Radio. She also co-hosts Whatever, Martha TV show on the Fine Living Network, where they make fun of old Martha Stewart Living episodes. Hasn't her mother told her that people in glass homes shouldn't throw stones?

Sheree R. Curry is an award-winning real estate and business journalist.
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