From Housing Watch:
Bruce Springsteen, winner of 20 Grammy Awards, has sold one of his two neighboring homes in Florida’s Palm Beach County for $1 million less than its original list price, reported the Palm Beach Daily News. This is just further proof that celebrity real estate isn’t immune to the housing bubble.
The legendary rocker sold the home at 3561 Ambassador Road in Wellington for $2.95 million, a big cut from its original $3.95 million list price. The sale price is also less than the $3.1 million Springsteen paid for the 5-bedroom in the spring of 2008. The $150,000 loss (not including his real estate agent’s cut), may seem like a drop in the Atlantic Ocean for a man worth millions, but when you consider the short time he owned the home, it’s quite a chunk of change.
The Springsteens’ primary residence is in Rumson, N.J., and they also own a home in Beverly Hills, CA.
From the Palm Beach Daily News:
New Jersey rock star Bruce Springsteen, through his Los Angeles attorney Nancy G. Chapman, has sold one of his two Equestrian Club Estates houses in Wellington for $2.95 million, according to the warranty deed filed late Thursday afternoon.
The buyers, Daniel M. and Ellen Podell Crown, live in New York and Connecticut.
The property was listed for $3.95 million, according to several sources.
In June 2008, Springsteen bought 3561 Ambassador Road for $3.1 million; the following September, Springsteen’s Stone Hill Trust closed on an adjacent improved parcel, 3581 Ambassador Road, for $4.6 million, purchasing it from William Farish Jr. and Kelly Farish, according to Palm Beach County Property Appraiser’s Office records.