Wednesday, November 14, 2012

The last piece of pop star Michael Jackson's real estate empire has been sold for a cool $18M


The home where pop singer Michael Jackson lived for about six months until his death has sold for $18.1 million, says broker Mauricio Umansky, who represented both the buyer and the seller in the transaction. He declined to name the buyer, but two people close to the deal said it was Steven Mayer, a senior managing director of private investment firm Cerberus Capital Management. 
Concert promoter AEG had been renting the property for Mr. Jackson for $100,000 a month when he died there in June 2009. The home belongs to Hubert Guez, owner of apparel company Ed Hardy, and his wife, Roxanne Guez, according to public records. Located in Los Angeles's Holmby Hills neighborhood, the 17,000-square-foot home has seven bedrooms and 13 bathrooms. Real-estate developer Mohamed Hadid built the home in 2002 and the Guez family bought it in 2004 for $18.5 million. Two years ago, the couple put it up for sale for $29 million. They relisted it for sale earlier this year for $23.9 million. 
(Wall Street Journal)

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