NYC celebrity homes sold at a loss

While home prices across New York City continue to rise, some homeowners, even the famous ones, have to offer discounts. 

Sir Paul McCartney recently sold his Fifth Avenue penthouse for $8.5 million, 6 sqft reports. Ex-Beatle and his wife Nancy Shevell originally purchased the four-bedroom apartment in 2015 for $15.5 million. The co-op unit was listed for $12 million in June before it went into contract in October.  

The 1967 building, where the unit is located, overlooks Central Park and is home to only 12 residents. The duplex occupies the 15th and 16th floors and has an additional room on the 17th floor. According to the listing, the apartment was in “white box” condition, which means the unit had minimal to no interior. Last week the property was sold to an unknown buyer for nearly 50 percent less than it was originally purchased.  

Another celebrity that sold his apartment at a discount is Leonardo DiCaprio. In 2014, the Academy-Award-winning actor bought his bachelor pad in Greenwich for $10 million. The three-bedroom unit is located at 66 East 11th Street and offers a variety of unique amenities that focus on encouraging a healthy lifestyle. The apartment includes vitamin-C infused showers, purified air and water, circadian rhythm lighting systems, in-duct aromatherapy, and more. 

Previously, DiCaprio sold the unit for $8 million to Michael Viola, son of American billionaire Vincent Viola, Yahoo News reports. Now, the bachelor pad (apartment #4FL) has returned to the market for $7.5 million. The future owner of the celeb-approved property has a chance to improve their well-being by simply staying at home.

While the two previous units had only one famous owner, this NoHo penthouse had three. Britney Spears, Cher, and Russell Simmons have all once lived in this four-level apartment at 14 East 4th Street. The unit has four bedrooms, five bathrooms, and an outdoor terrace. The former celeb home is currently on the market for $6.9 million, according to the Architectural Digest.  

Britney Spears purchased the apartment back in 2002 and combined two units (1109 and 1110) to bring the total square footage to nearly 4,000 square feet. The penthouse was listed for sale multiple times and went through several price cuts. It was on the market for $9 million in 2015, $7.6 million in 2016, and at some point, even hit the rental market for $24,000 per month, 6 sqft reports.

Usually, whenever a celebrity lists a home for sale, it immediately catches media attention and attracts more buyers. In some cases, a famous seller might even influence the property value. But sometimes, the cost associated with purchasing and owning a property goes up dramatically. As a result, sellers of high-priced properties, even the celebs, have to slash the asking price. 

Image credit:

Evan Joseph Studios (Compass)

 Resources:

“Paul McCartney sells Fifth Avenue apartment for $8.5M, at a $7M loss,” by Michelle Cohen (6sqft, 2022)

“Paul McCartney Takes Fat Loss on Fifth Ave Co-op,” by TRD Staff (The Real Deal, 2022)

“An NYC Penthouse Once Owned by Britney Spears, Cher, and Russell Simmons Is For Sale,” by Shivani Vora (Architectural Digest, 2022)

“Britney Spears’s former Noho penthouse is on the market for $7M,” by Devin Gannon (6sqft, 2022)

“Leonardo DiCaprio’s Former Manhattan Apartment Is for Sale—See Inside,” by Mary Elizabeth Andriotis (Yahoo News, 2021)

“Leonardo DiCaprio’s Former Manhattan Apartment Is on the Market for $7.5 Million,” by Mary Elizabeth Andriotis (House Beautiful, 2021)