Real Estate Bubble? Celebrities Forced To Reduce Asking Price On Homes By Millions

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Both Celine Dion and Puff Daddy have vastly reduced the prices on their mansion homes, featured this week at TopTenRealEstateDeals.com.

“Celine Drops Price on Florida Water Park Home” Grammy Award-winning Canadian singer Celine Dion and her manager husband, René Angélil, built their dream Florida home on Jupiter Island in 2010. The location offered the privacy the hard working couple wanted to relax with their children and friends and they designed an estate around a series of water features and outdoor sports activities that, along with pristine beachfront, took full advantage of the Florida sunshine and Atlantic Ocean breezes. But even for celebrities who seem to have achieved it all, life can throw curve balls.

For Sale -Now Reduced! Celine Dion's Florida home.

For Sale -Now Reduced! Celine Dion’s Florida home.

Though René had successfully fully recovered from a bout of throat cancer in 1999, it reoccurred in 2013 when he had surgery for another malignant throat tumor. Dion announced in 2014 that she would suspend her performances indefinitely due to her husband’s worsening health. In August of 2015, she resumed her Las Vegas residency at Caesar’s Palace, but lost René to cancer in January 2016 and her brother only two days later. The couple and their three children had made the Las Vegas bedroom community of Henderson their home while Dion was performing at Caesar’s Palace. She returned to the stage on February 23rd for the first time since René’s death and paid tribute to his memory and their life together in her first performance.

Their Bahamian-inspired Florida oceanfront estate was first put up for sale in 2013, the year that René was re-diagnosed, for $72.5 million. Over a period of time with no buyer interest, the price was cut to $62.5 million and recently reduced to $45.5 million.

Among many five-star features, the 5.5-acre beachfront property’s centerpiece is the 500,000 gallon water park highlighted by a slow-current lazy river connecting two pools, bridges and a twisting water slide. There is also another pool located beachside. The two-story, 10,000-square-foot main residence has five bedrooms with a second-level wraparound terrace with ocean views and multiple main level terraces. The luxurious master suite walk-in closet has automated carousels for quick access to shoes and clothing at the touch of a finger. The open-plan main level is light and airy in keeping with the subtropical climate. There are also two separate four-bedroom guest houses, tennis house, simulated golf range, pool house and beach house. Celine’s Jupiter neighbors include Michael Jordan and Tiger Woods, and Palm Beach is just a few miles down the road.

Now settled in Nevada at least until the end of her Caesar’s Palace residency in 2019, Celine has stepped up her effort to sell her resort estate by engaging a new brokerage and lowering the asking price. Fenton Lang Bruner & Associates in Jupiter Island holds the listing.

“Puff Daddy’s New Jersey Mansion” Whether called Puff Daddy, Puffy, P. Diddy, or his real name Sean Combs, the Grammy-winning rapper, actor and businessman is frequently in the news, whether for his recordings, his charity or his clothing line. Most recently, he has signed on as Pharrell Williams’ team adviser for season ten of “The Voice.” Listed as number one by “Forbes” as the wealthiest hip hop artist of 2015 with an estimated net worth of $735 million, Sean has reduced the price on his New Jersey mansion  several times, now at $7.89 million.

For Sale- Now Reduced!- Puff Daddy's NJ home.

For Sale- Now Reduced!- Puff Daddy’s NJ home.

Combs purchased his elaborate 3.25 acre estate in Alpine in 2004 for $6 million. Built in 1999, the home has all the glamour and amenities expected in the home of one of America’s most popular celebrities. The 8,000-square-foot home has six bedrooms, six baths, foyer with double staircase and expansive formal rooms with walls of glass filling the interior with light. The basement is the activity heart of the home with its own kitchen, wet bar, home theater, an aquarium and another bedroom with full bath. There is also an indoor basketball/racquetball court and a fully equipped gym with full bath. Outside is a swimming pool with waterfall, putting green, a lighted tennis court and a six-car attached garage. Originally, Sean put the property on the market in 2011 at $13.5 million. Without a buyer, he pulled it from the market and relisted it again in 2015 at $8.5 million. Again with no buyer, he has once again dropped the price to $7.89 million. The listing agency is Sotheby’s International in Alpine, New Jersey. For the Silo, Terry Walsh.

Visit TopTenRealEstateDeals.com for more famous, spectacular and celebrity homes and real estate news.

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