Who said that the housing market was down? Well, the residential market is not that bad for the rich, the super rich. It is a good time for them to buy. After all, some of these mansions and compounds appear to be appreciating. They do not lose their value. A case in point is this 10,000-square-foot French Regency-style Compound on a 1.5-acre. James and Eleanor Randall bought it for $14 million.
The house, built in 2002, has six bedrooms and seven bathrooms, two guesthouses, coastline views, a glass mosaic pool, a tennis court, a 1,500-square-foot master bedroom, heated mosaic floors and a private staircase to the beach.
The power couple bought the home as their Summer home. Mr. Randall is in the aerospace rivet industry. According to the Randall Foundation (www.randallfoundation.com), here is what we know about the couple:
"In 1971 Mr. James H Randall purchased Allfast Fastening Systems, Inc. from American Electric, Inc. In 1974 James H Randall/Allfast purchased the solid rivet manufacturing division from Olympic Fastening Systems. Also in 1974, Allfast began making blind rivets. In 1987 James Randall acquired the blind rivet division of Voi-Shan Fastening Systems. In 1989, Mr. Randall acquired the blind rivet and tooling divisions from Olympic Fastening Systems. In 1999, James H Randall purchased Briles Rivet. In 2002, he acquired Aerospace Rivet Manufacturers. In 2007, an additional 60,000 square feet were added to the facility to expand shipping and receiving, packaging and warehousing for VMI and min/max inventories. By adding footage to the facility it’s made more room for capital equipment and new products which are planned for introduction in 2008. With 19 patents and 21 trademarks, James H Randall and Allfast Fastening Systems are the leading provider of solid and blind rivets and tooling for the aerospace industry."
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