Sandra Bullock, Justin Bieber & Stars Who Lost Money on Real Estate – The Hollywood Reporter

0
30

As the Los Angeles housing market has gone up and up, some high-rolling real estate players are selling their mega-mansions — surprisingly — at a loss.

Trevor Noah recently sold his Bel Air mansion for $26.4 million, more than $1 million less than he paid for it in 2020. Michelle Pfeiffer and David E. Kelley sold a Pacific Palisades home for $6.5 million, $1.2 million less than they paid for it in 2018. Earlier this year, Sandra Bullock sold a condo in West Hollywood’s Sierra Towers in an off-market deal to Joker director Todd Phillips. According to Dirt.com, she paid $5.1 million for it in 2017 and unloaded it for $3.6 million, making for a $1.5 million loss.

Director Simon Kinberg was one of the biggest losers, selling his Hollywood Hills estate, which he bought for $31.5 million, for $28.5 million. But they aren’t the only ones. LeBron James, Simon Cowell, Justin Bieber and Channing Tatum also have sold property at a loss in…

Read more…