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Nick Jonas joins Ellen in the celebrity house-flipping game
The musician and actor sold his Beverly Hills pad in an off-market deal
Nick Jonas, who recently got married and just got the Jonas Brothers band back together, broke up with his Beverly Hills pad.
The actor and musician flipped the 4,129-square-foot home, selling it to tennis star Naomi Osaka for $6.9 million, according to Variety. The sale came about a year after Jonas, who was married to Priyanka Chopra in December 2018, paid $6.5 million for it, according to the report.
Jonas’ flipping game isn’t as strong as fellow celebrity Ellen DeGeneres. In the last two years, she has closed $150 million in residential deals, buying and selling at least eight properties around Southern California.
Overall the Los Angeles luxury market has been stuck in neutral for the last year, with homes lingering on the market and sellers being forced to chop the asking price multiple times before closing a deal. Industry experts say “aspirational pricing” is to blame for the price cuts.
Osaka, the former No. 1 ranked player, bought a five-bedroom, four-and-a-half bath mansion that is perched in the mountains above Beverly Hills.
The home was built in 1965 and was completely redone by its former owner, L.A. nightlife owner Jason Lev. He purchased the property in 2012 for $1.8 million, and after the improvements — which include a two-story guest house — listed it for $7.4 million in late 2016. It sat on the market for over a year before Jonas bought it, at the million-dollar price cut. [Variety] — Alison Stateman