Mansions Owned By The Rich And Famous No One Wanted To Buy
Many people wonder what it would be like to live in the lap of luxury like celebrities. Even though their mansions are something straight out of fairytales, some sat on the market, were significantly reduced in price, and no one coughed up the money to purchase.
From Frank Sinatra to 50 Cent, here are some celebrity homes that didn't exactly sell the way the star anticipated.
Jennifer Lopez, Hidden Hills, California
In 2012, Jennifer Lopez bought her Hidden Hills, California, estate for $8.2 million. The 17,000-square-foot mansion included a professional recording studio, nine bedrooms, and a two-story entertainment wing! Even so, she had a difficult time selling.
JLo's property was on the market for two years after no one bit at the originally 2015 asking price of $17.5 million. She finally found a buyer who purchased the property for $10 million.
Sylvester Stallone, La Quinta, California
Located in the exclusive gated Madison Club in La Quinta, California, Rocky actor Sylvester Stallone originally purchased his 4,900-square-foot mansion in 2010 for $4.5 million. When it came time to sell, though, Stallone's property would be on and off the market for about a decade!
He was finally able to find a buyer in 2020, selling for $3.35 million, a major loss in profit for the actor.
Billy Joel, Palm Beach, Florida
Iconic singer Billy Joel bought his gorgeous 13,000-square-foot Palm Beach County Mansion in 2014 for a solid $11.8 million. After enjoying views of the intercoastal in his eight-bedroom and eight-bathroom mansion, Joel put it on the market.
Unfortunately, he was a bit greedy, asking for $29 million. Unsurprisingly, no one bought it. He wound up reducing the price a few different times, with the last asking price being $16.9 million and turnkey in 2018.
Michael Jordan, Highland Park, Los Angeles, California
Former basketball player Michael Jordon's secluded 56,000-square-foot estate located in Highland Park, Los Angeles, California, was not easy to sell. MJ first put his mansion on the market in 2012 for $29 million.
No one was interested in paying the high asking price. It took a few years, but MJ finally put his estate back on the market in 2020 for a much lower $14.9 million. As of 2021, he is still looking for a buyer.
Nelly, Wildwood, Missouri
While his mansion in Wildwood, Missouri, is famously left uninhibited and pretty much falling apart, the rapper, Nelly, once had dreams of revamping not only the gigantic home but also the property around it.
As of 2023, the mansion isn't even worth $1 million! According to realtor.com, Nelly put the property on the market for $599,000!
Celine Dion, Jupiter Island, Florida
Celine Dion's massive 20,000-square-foot mansion was built on five acres, initially purchased for $7 million, of property on Jupiter Island, Florida. Including 13 bedrooms, 14 bathrooms, and a personal waterpark, Dion wasn't about to put her home on the market for a lowball price.
In fact, her original asking price in 2013 was a whopping $72 million. No one took the bait. Four years later, Dion finally sold her property for a much lower (yet still high) $38.5 million.
Keith Richards, Greenwich Village, New York
The Rolling Stones musician Keith Richards purchased his Greenwich Village Penthouse in 2014 for $10.5 million. When he went to sell the two-story, four-bedroom, four-bathroom property on Fifth Avenue in 2016, Richards put it on the market for $12.2 million.
It sat there for two years before the musician lowered the price. Finally, he sold the penthouse for $9.95 million, an ultimate loss for Richards.
Steve Cohen, Midtown, Manhattan, New York
Steve Cohen's midtown Manhattan penthouse had some of the best views in the city, looking right over Central Park. But the New York Mets owner had difficulty selling the two-story, five-bedroom, six-bathroom space.
Initially, Cohen put his luxury penthouse on the market for $115 million! No one bought it, leaving the hedge fund manager waiting eight years for a buyer. Finally, someone purchased the penthouse in 2021 for $29.5 million.
Frank Sinatra, "Villa Maggio," Coachella Valley, California
Legendary singer Frank Sinatra had numerous homes across the country, including a five-bedroom mansion called "Villa Maggio" in the Coachella Valley of California. The property had been listed multiple times, with the price dropping each and every time.
In 2007, the asking price was $4,995,000, dropping greatly when 2021 rolled around. In 2021, the property was listed at $4,250,000 and still hadn't sold.
Christina Aguilera, Hollywood Hills, California
In 2003, singer Christina Aguilera bought her 6,500-square-foot Steve Hermann-designed property in Hollywood Hills, California, for a cool $5 million! With views of the Los Angeles skyline, a 12-seat spa, and a home theater, she thought she could get away with putting it on the market for $7,995,000.
It stayed there for three years, resulting in the singer reducing the price to $4,653,815, over $300,000 less than she bought it for.
Tom Cruise, Telluride, Colorado
Actor Tom Cruise's Telluride, Colorado, estate was completed in 1994. He enjoyed the property for many years, finally deciding to sell the 10,000-square-foot mansion in 2014 for $59 million.
The 320-acre property was on and off the market for the following seven years, finally returning to the market in 2021 for $39.5 million.
Pierce Brosnan, Malibu, California
James Bond actor Pierce Brosnan had no easy time finding a buyer for his massive Malibu, California, estate. Oceanfront property with a saltwater pool, floor-to-ceiling windows, and a private beach entrance, Brosnan put his home on the market in 2020 for a whopping $100 million.
While the main "Orchid House" boasts 12,500-square-feet of living space, the asking price was way too high. Refusing to reduce the cost, Brosnan ultimately took his property off the market.
Sean Combs, Park Imperial, New York
Rapper Sean Combs, better known as P. Diddy, attempted to sell his luxury three-bedroom apartment in Park Imperial, New York, back in 2012 for $8.5 million, a spot he originally purchased for $3.82 million.
The 2,292-square-foot residence went to stay on the market for four years. He finally found a buyer in 2017 who purchased the apartment, in cash, for $5.7 million.
50 Cent, Jackson's Farmington, Connecticut
When rapper 50 Cent first put his massive 50,000-square-foot Jackson's Farmington, Connecticut, property on the market in 2007, he probably never expected it to sit there for a whopping 12 years!
Originally, he purchased the property for $4.1 million and, after struggling to sell the massive estate, which boasted 19 bedrooms, a nightclub, and an indoor basketball court, 50 Cent reduced his asking price! He finally sold his property for $2.4 million, 84% less than he purchased it for in 2007.
Jeff Bridges, Montecito, California
In 1994, actor Jeff Bridges purchased his 19.5-acre Tuscan-inspired property in Montecito, California, for just under a cool $7 million. When he originally tried to sell the mansion back in 2015, he asked for an ambitious price of $30 million.
The high price resulted in the property staying on the market for two years. He finally sold in 2017 for $15.93 million.
Jason Biggs, Los Angeles, California
Jason Biggs of America Pie fame had a little trouble selling his 2,756-square-foot mansion located in the Hollywood Hills of Los Angeles, California. Situated right above the Sunset Strip, Biggs's property was on and off the market for a solid year, with no potential buyers.
He was finally able to sell in 2015 for $2.565 million.
The Obama's, Martha's Vineyard, Massachusetts
The Obama's vacation home, a 7,000-square-foot mansion located in Martha's Vineyard, Massachusetts, boasted numerous amenities, including an infinity pool. But the family found it difficult to sell their property when they listed it back in 2015.
That year, the Obama's put the property on the market for $22.5 million. It took three years to finally sell the mansion, opting to sell it to the Menemshovitz Realty Trust for $15 million.
Calvin Klein, Miami Beach, Florida
Fashion designer Calvin Klein's Miami Beach, Florida, bungalow was a catch by the time he put it on the market. A 5,800-square-foot mansion with 133 feet of unobstructed bay views, one would think Klein's home would go off the market without issue -- it didn't.
It took two years for the designer to finally find a buyer, ultimately selling in 2017 for $13.2 million.
Demi Lovato, Los Angeles, California
When it came to her 5,564-square-foot Los Angeles, California, mansion, Demi Lovato went through a multiyear effort trying to sell. The singer initially purchased the three-story mansion in 2016 for $8.3 million.
Putting the property on the market in 2018, Lovato's original asking price was $9.495 million. They trimmed the price the following year after no one was interested. Finally, they found a buyer in 2020 who purchased the home for $8.25 million, a loss in profit for Lovato.
Schossberger Castle In Tura, Hungary
Once upon a time, back in the 1870s, Schossberger Castle in Tura, Hungary, was alive with residence. Sitting on a 10-hectacre of land, this place is absolutely massive and, at one point, was worth a pretty penny.
Sadly, the castle became abandoned in 1991 before getting picked up by Tiborcz Istvan and converted into a 5-star hotel in 2020.
Kathy Griffin, Hollywood Hills, Los Angeles, California
Comedian Kathy Griffin bought her Hollywood Hills mansion, "Wings," back in 2004 for $2.85 million. She enjoyed the 8,098-square-foot home for a few years before opting to put it on the market, somewhere it would ultimately stay for well over a year.
Initially, Griffin's asking price was $5.495 million. Without any potential buyers, she lowered the price to $4.5 million, finally finding a buyer in 2017.
Bruce Willis, Beverly Hills, California
Built in 1929, actor Bruce Willis's 10,379-square-foot, Spanish-style Beverly Hills, California, mansion had some trouble selling. When Willis first put his home on the market in 2014, his asking price was $22 million, a far cry from the $9 million he paid.
The property stayed on the market for a year with no potential buyers. Finally, he dropped the asking price, and someone scooped up the mansion in 2014 for $16.5 million.
