Cher Relists Malibu Home With $10 Million Price Cut

Cher’s Malibu mansion has gone back on the market at a reduced price of $75m, after initially being put up for sale in October 2020 for $85m. The 16,000 sq ft home, which was built in the style of an Italian villa, has seven bedrooms; its en suite master bedroom features a meditation room and double closets. Other features in the main residence include a home gym, cinema, tennis court and a climate-controlled wig room that can hold up to 100 hairpieces. 

The grounds extend to 1.7 acres and feature an infinity pool, a fountain, a courtyard and 40 palm trees. Cher purchased the property in 1989 for $2.95m. Last year’s relaunch of the property was her third attempt to sell it; while the house was removed from the market at the start of 2021, it has now been placed back up for sale.

The house is being sold by Drew Fenton and Robert Kass of Hilton & Hyland. The median house price in Malibu is currently $3.3m, so Cher’s estate is around 20 times the average price for the area. Cher has owned many impressive homes throughout her career, including a Miami Beach villa and a Beverly Hills villa. She also owned an apartment in New York City, which she sold in February this year.
 
Cher has been involved in a number of real estate deals over the years. As well as owning several properties, she has also been involved in house-flipping, often buying properties before quickly selling them on at a profit. Other celebrities to have bought and sold properties in Malibu include Cindy Crawford, Charlize Theron, Leonardo DiCaprio and Ellen DeGeneres.



Source link