Even celebrities don’t always make it big in real estate. Just ask Justin Timberlake.
In October, 2010, the former ‘NSYNC member listed his TriBeCa property for $5.25 million, which would represent a nice gain since he purchased the home in 2008 for $4.77 million. However, the final sale had Timberlake taking a loss of $70,000 for his approximately 3,000 square-foot pad that only sold for $4.7 million.
This represents a 10% drop from his original asking price, which can’t be pleasing to Timberlake – especially since he recently signed a contract for $6.6 million for a penthouse in SoHo.
Hopefully Timberlake will prove to be more successful in his future real estate initiatives, success that may rub off from his hot singing and acting career that continues to grow.
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