Celebs are chopping home prices left and right

Miami /
Jun.June 10, 2016 04:30 PM

From the Los Angeles websiteIs it an indication of a stagnating luxury market? Maybe. Maybe not. What’s clear is that celebrities seem like they’re dying to sell. In recent months, there have been major price cuts on dozens of multi-million-dollar homes of the stars.

The ever-so-fierce Tyra Banks, for instance, re-listed her Beverly Hills home this month for $6.5 million after she first asked for just under $7.8 million.

Over in Hidden Hills, the equally photogenic Jennifer Lopez has lowered the price of her estate from $17 million about 18 months ago to $12.5 million now. And Relativity Media founder and CEO Ryan Kavanaugh — less famous but still rich — slashed the price of his Malibu home from $10 million in April to $8.9 million.

The trend is similar on the East Coast.

Billy Joel scraped $2 million off his Manalapan mansion in Florida — it’s now $27 million. Celine Dion’s Jupiter Island manor now costs $45.5 million, and it’s nothing to sneeze at considering its original asking price of $72 million.

In the Hamptons, Richard Gere has a six-acre compound for $36.5 million, nearly half of his original asking price of $65 million.

Maybe it’s a buyer’s market after all. [Variety]Cathaleen Chen


Related Articles

arrow_forward_ios
Ex-Miami Dolphins defensive end Andre Branch with the $6 million property (Getty, The Jills Zeder Group)
Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
Nicky Jame and One Thousand Museum (Getty, One Thousand Museum)
Reggaeton artist Nicky Jam picks up downtown Miami condo
Reggaeton artist Nicky Jam picks up downtown Miami condo
Brian Vickers with the Continuum South tower (Continuum on South Beach)
Retired Nascar driver Brian Vickers buys Miami Beach condo for $6M
Retired Nascar driver Brian Vickers buys Miami Beach condo for $6M
Jimmy Butler, Reshma Sohoni and 8975 SW 63 Court (Getty, Google Maps)
Swish! Miami Heat’s Jimmy Butler sells Pinecrest mansion for $7M
Swish! Miami Heat’s Jimmy Butler sells Pinecrest mansion for $7M
Marc Fisher and the West Palm Beach home (Getty, Douglas Elliman)
Shoe mogul Marc Fisher buys waterfront West Palm Beach mansion
Shoe mogul Marc Fisher buys waterfront West Palm Beach mansion
Floyd Mayweather and the Palm Island mansion (Getty, Douglas Elliman)
Floyd Mayweather drops $18M on Miami Beach mansion
Floyd Mayweather drops $18M on Miami Beach mansion
Hélio Castroneves with the house (Getty, Compass via Coast Properties of S. Florida)
Hélio Castroneves parts with waterfront Fort Lauderdale home for $7M
Hélio Castroneves parts with waterfront Fort Lauderdale home for $7M
Jeff Franklin and the lot (Getty, Compass via Greg Mirmelli)
Fuller House? Sitcom creator adds to waterfront Venetian Islands property with $13M purchase
Fuller House? Sitcom creator adds to waterfront Venetian Islands property with $13M purchase
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...