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Celebrities Who Took Hits in the Real Estate Market: From Jennifer Lopez to Justin Bieber
Celebs’ multimillion-dollar properties don’t always sell at a profit. Here’s who took a hit in the real estate market.
Jennifer Lopez
When the newlywed’s Bel Air estate hit the market in February, the 54-year-old was asking $42.5 million for the spread. And no wonder: Among its amenities are a 100-seat amphitheater and a private lake with a sand beach. Still, when the property finally sold in October, the “Love Don’t Cost a Thing” singer got just $34 million. Those amenities may be to blame. “Sometimes you have somebody [where] money is no object,” celeb realtor Michael Nourmand told The Hollywood Reporter about unique homes. “They don’t think about the resale part of it.”
Trevor Noah
This isn’t how flips are supposed to work! In April, the Daily Show host sold his 11,377-square-foot, Japanese-inspired Bel Air mansion for $26.4 million. Unfortunately for the 39-year-old, that was $3.3 million less than he’d listed the property for in October 2021 — and $1.3 million less than he paid for the house when he bought it in 2020! “The first thing I learned about having money was that it gives you choices,” Trevor once said. “People don’t want to be rich. They want to be able to choose.”
Justin Bieber
Maybe he didn’t want to pay the broker’s fee? For a year, the pop star tried to sell his 6,100-square-foot pad in Beverly Hills via Instagram. “Home vibes, but I wanna sell it I think. Anyone interested?” he wrote of the deluxe five-bedroom, seven-bathroom pad dubbed “The Tropics.” (Neighbors included Jeff Bezos.) When that didn’t work, the 29-year-old brought in Joshua and Matt Altman of Million Dollar Listing fame. But even when the “Sorry” singer threw in the furniture, he failed to get his asking price of $8.5 million, taking a $1 million loss.
Eva Longoria
Not even a pedigree that included being owned by both Tom Cruise and the Desperate Housewives alum — not to mention three secluded acres in the Hollywood Hills, two separate residences, two studios and a stone cottage — were enough for the 48-year-old to recoup her $11.4 million investment. Eva first listed the property for $14 mil in 2017 before lowering it to $9.8 mil in 2018. The house finally sold that year for $8.25 million — a whopping $3.15 million loss.
David Duchovny
The Princeton grad has said he doesn’t have “a close relationship” with money — and it shows! Despite a private elevator and Central Park views, the 63-year-old’s NYC apartment languished on the market. When the three-bed, three-bath 19th-floor pad finally did sell for $5.6 million in March, the X-Files star took a $400K loss.
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