Yahoo Finance No One Can Agree How Much Mar-a-Lago Is Worth: 7 More Properties With Mystery Values
No two homes are entirely alike, but some stand out more than others. These unique and expensive properties are often easy to fall in love with, yet tough to value. They’re so different from the homes around them that it’s hard to say exactly how much they’re worth.
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Celebrities often buy places like this only to have difficulty selling them later on. In fact, no one can quite agree on how much the following celebrity dream homes are worth.
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Donald Trump’s Mar-a-Lago Country Club
Donald Trump’s Mar-a-Lago resort in Palm Beach, Florida, has been in the news quite a bit recently. A New York judge ruled that the former President exaggerated the property’s value when he said it was worth at least $420 million. The best estimate from tax appraiser valuations is between $18 million and $37 million.
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Trump bought the 126-room property in 1985 for around $10 million. It was originally built by the heiress to the Post cereal fortune, Marjorie Merriweather Post. Mar-a-Lago was designated as a National Historic Landmark in 1969 and was used as a winter getaway by Presidents Richard Nixon, Gerald Ford and Jimmy Carter.
The property is difficult to value for multiple reasons. It has historical significance, which is tough to put a price tag on. Plus, Mar-a-Lago is an active country club with 500 members. That may increase its value, but it’s hard to pinpoint by exactly how much.
The Rock’s Atlanta Estate
Next up is Dwayne “The Rock” Johnson’s estate just outside Atlanta. The actor and professional wrestling icon listed the property for sale in 2021 and priced it at $7.5 million. That’s quite a bit more than the average home in the area, which sells for just under $400,000.
Johnson’s estate has sat on the market for over three years without any price cuts. It’s situated on 45 acres and has its own lake. It also has a 12-stall horse barn, a riding arena and a viewing deck.
The Atlanta-area estate is tough to value because it’s so different from the places around it. It may be worth $7.5 million, but only to a very specific kind of buyer. Or maybe Johnson needs to finally cut the property’s price if he ever wants to sell it.
Pierce Brosnan’s Malibu Beach House
Actor Pierce Brosnan has been trying to sell his Malibu dream home since 2020. It’s a 13,000-square-foot mansion with ocean views, a two-story guest house and direct access to a private beach.
Brosnan and his wife designed the home with a Southeast Asian aesthetic. They’ve had the property listed for $100 million for four years without making any price cuts.
The asking price is steep for a 1-acre property, even if it sits in one of the most desirable locations on the planet. Most of the homes around it are also modern or Spanish style. The Southeast Asian design of the Brosnan home is unusual enough that it may be turning away some potential buyers.
Jennifer Lopez’s NYC Penthouse
Singer Jennifer Lopez owns a New York City penthouse on the corner of East 26th and Madison Avenue. She finally sold the property for $25 million after leaving it listed around that same price for seven years.
It’s a beautiful space. It takes up the top two floors of a boutique condo built in 1924. Featuring over 6,500 square feet, the four-bedroom home even comes with a landscaped roof deck and putting green.
That being said, the home is in a high-traffic area, which isn’t always what the ultra-wealthy want. It’s also only on the sixth story, which is much lower than the penthouses around it. These reasons may be why the property was listed for so long without attracting a buyer.
Luckily for Lopez, she finally found someone who agreed with her valuation. It just took seven years to do it.
Michael Jordan’s Chicago Mansion
Next up is Michael Jordan’s iconic mansion in the Chicago suburb of Highland Park. It’s currently listed for $14.9 million, but that’s after three price cuts. Jordan originally listed the 33,000-square-foot home for sale in 2012 and has not had luck selling it for all these years.
You’d think given Jordan’s popularity, a wealthy superfan would have made an offer on the NBA legend’s home by now. But real estate professionals say the property is highly customized based on Jordan’s tastes. They say it would take a lot of renovations for a new buyer to make the home their own.
Celine Dion’s Water Wonderland
Celine Dion is one of the most famous vocalists on the planet. She also built an incredibly unique home for herself in Florida. The 20,000-square-foot mansion has a full-on water park in the backyard — complete with a lazy river, water slides and two swimming pools.
The Canadian singer must have thought those additions would add a ton of value to the property when she listed it for $72 million in 2013. But it took years and many price cuts to find a buyer. Eventually, Dion sold her home for $38.5 million in 2017 — just over half of her initial asking price.
Steve Cohen’s Central Park Penthouse
Steven Cohen is an ultra-wealthy hedge fund manager who owns the New York Mets. In 2013, he tried to sell his luxurious midtown Manhattan penthouse for an eye-popping $115 million.
The two-story property features floor-to-ceiling windows that overlook Central Park and Manhattan. It’s one of the most desirable locations in the city, too, at East 58th Street.
But others never seemed to love the penthouse quite as much as Cohen. He didn’t find a buyer for the place until 2021. By that point, Cohen had dropped the price several times. It eventually sold for just $29.5 million — over $85 million less than his initial valuation.
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This article originally appeared on GOBankingRates.com: No One Can Agree How Much Mar-a-Lago Is Worth: 7 More Properties With Mystery Values
