Sylvester Stallone’s Beverly Park Mansion was sold to Adele for a ‘steal’
There’s no stopping her! Adele has made a lowball offer to buy Sylvester Stallone’s extravagant 90210 estate, according to TMZ. The star has agreed to pay somewhere around $58 million for the house, although the deal has not yet closed – Adele is reportedly still in the inspection phase of escrow. Upon signing off on the inspection reports and removing any contingencies, the internationally mega-famous songstress will be able to close.
The $58 million purchase price has been described as a “steal” by real estate sources. On the surface, that may seem a little extravagant, but it makes sense when you consider the property was last sold for million and Stallone originally wanted $110 million.
Does that price represent a real bargain? We’re not so sure. If it closes for anywhere near the reported $58 million, it will easily rank as the most expensive Beverly Park estate ever sold. (Beverly Park, for those who are unfamiliar, is an ultra-exclusive gated community in the mountains above Beverly Hills. The enclave is particularly famous for its many huge mansions – some of which span more than 30,000 square feet of living space. Some of the current residents include Denzel Washington, The Rock, Justin Bieber, Magic Johnson, Mark Wahlberg and Sofia Vergara.)
In the history of Beverly Park, only one other house has ever sold for more than million. An extravagant Mediterranean-style estate sold for million at auction last year. Despite this, the auctioned property is significantly larger than the Stallone estate in both interior square footage and acreage, with 28,660 square feet of living space and nearly 10 acres versus 15,401 square feet and 3.5 acres for Stallone. In contrast, Adele is paying nearly $3,800 per square foot for her prize, while the auction winner paid less than $1,800.
Although the Stallone property lacks some notable amenities, it still has some notable features. The property is hidden down a long gated driveway, at the end of a “hidden” cul-de-sac, far from neighboring properties. Among the few local estates with an infinity pool overlooking spectacular city views, it certainly adds value. A thorough renovation, overseen by Rocky himself, was recently performed on the entire place. You can’t put a price on that, can you?
No matter what, Adele can afford to splurge. The internationally renowned singer reportedly earned $400 million in the past decade. She’s made good investments in real estate, acquiring a $30 million compound in Beverly Hills with three houses.
