Who Pays $1 Million (Plus) for a Home?

by Mark Friedman  on Monday, Jun. 22, 2009 12:00 am  

This Little Rock home on Sologne Circle sold for $1 million in 2008. The number of seven-figure-plus homes sold in Pulaski County has been falling every year since 2004.

Moore said he works for a privately held money-management firm in New York, but he declined to name the firm.

He said the design of the home is what caught his eye. The four-bedroom home has an "old-world design" and features woodwork throughout the spread. It also has a workout room, wine cellar and a fireplace on the patio. In addition, its proximity to several shops in the Heights was a plus for Moore.

"It's a great spot to raise a family," Moore said.

Moore was once an analyst for Stephens Inc., but when he left in 2004 to join Morgan Keegan & Co., Stephens sued him, alleging he removed documents and records. He also faced a felony charge stemming from the same allegations. The lawsuit was dismissed in 2006. Moore pleaded guilty in 2006 to the charge of unlawful acts regarding computers and received five years of probation. He was transferred to unsupervised probation in 2007.

Moore said he "wouldn't be at the liberty to discuss" the Stephens incident.

But "anybody who will stop and think about that for a second, the idea of somebody going to another firm - I'll let you draw your own conclusions there," he said.

● Crain Investment Ltd., led by Larry Crain Sr., bought in January a 3,589-SF condo on the 13th floor of the First Security Center. The condo sold for $1.7 million.

Crain is the CEO of Crain Management Group of Sherwood, which reported 2008 revenue of $295 million, making it one of the largest private companies in Arkansas. The company was founded in 1966 and sells and services new and used vehicles through 12 dealerships. Crain Management also includes the real estate holdings of Crain Investments. In 2007, Crain Management's revenue was $326 million.

● Also in January, Michael Prince, a psychologist, bought an updated and expanded 5,883-SF home in the Heights for $1 million. Prince put the house up for sale on April 8 for $1.95 million. The house was taken off the market on June 2.

● The Michael L. Quick Family Revocable Trust purchased its 5,300-SF Chenal Downs home in west Little Rock for $1.1 million in March. It bought the home from Gary and Jacquelynn Childers.

Quick is an orthodontist and practices at Orthodontic Associates in North Little Rock. He also is a real estate investor and a director of Beach Business Bank in Manhattan Beach, Calif.

● Howard and Stacy Hurst bought their 5,659-SF home near the Country Club of Little Rock because Howard Hurst grew up in the neighborhood, Stacy Hurst said in an e-mail to Arkansas Business. They bought the home for $1.54 million.

 

 

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