The Real Deal Miami

Beyonce loses $1,900 per square foot on Miami sale

December 13, 2011 02:11PM

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Beyonce
Beyonce lost a staggering sum on a tiny swath of Miami real estate, but that hasn’t deterred her from shopping for a much more expensive mansion with husband Jay-Z. Just days after Beyonce was spotted checking out Ricky Martin’s Miami mansion, TMZ.com reported that the singer sold a beachfront cabana for 75 percent less than she paid for it in 2002.

Beyonce paid $455,000 for a 190-square-foot cabana at the beachfront condo where she resided, and sold it Nov. 9 for $110,000. The $355,000 loss seems large for such a small space, but Beyonce was aware of the hit she was about to take on the property — she listed it for just $135,000. The loss amounts to more than $1,868 per square foot. [TMZ]