The pop star’s recent foray into a new venture could stand to make her even richer.
Just a year after a judge ended her 13-year conservatorship, pop star Britney Spears has wasted no time in crafting an entirely different kind of life — she married boyfriend Sam Asghari in a small but celebrity-heavy ceremony and has been trying her hand at the California real estate market.
Less than two weeks after her June wedding, Spears doled out $11.8 million for a 12,000-square-foot home in the celebrity enclave of Calabasas; fellow pop star Justin Bieber and wife Hailey Bieber had at one point owned the 1.6-acre home while Travis Barker and Kourtney Kardashian are next-door neighbors.
This was in June and, just under seven months later, sources from the area reported seeing Spears show the home to prospective buyers.
Another Real Estate Listing, Seven Months Later
While Douglas Elliman (DOUG) agents Josh and Matt Altman and Coldwell Banker’s Todd Bernstein handled the sale of the Calabasas estate the first time around, Spears is now selling it off-market with Bryce Pennel of Compass (COMP) – Get Free Report.
The sprawling single-story complex is in a beige color with a terracotta roof in Los Angeles and has seven bedrooms, nine bathrooms and a 33-foot foyer decked out in stone finishings. The grounds are heavy on amenities with a pool, a wine cellar, a lounge with a wet bar, a chef’s kitchen and a heated patio and outdoor kitchen.
As the $12 million price tag is just $200,000 above what Spears paid for it last June, it appears more of a change of heart than an attempt to take advantage of Los Angeles’ notoriously tumultuous real estate market.
The same sources told TMZ that Spears moved out not long after moving in because the Calabasas home was “way too exposed” given the level of both fan and media interest in Spears’s life.
Steve Granitz/WireImage via Getty
An Extensive Real Estate Portfolio And Up-And-Down Market
But in the same seven months, Spears has tried to take advantage of her real estate portfolio both to streamline and protect her estimated $60 million fortune. In August, she listed a three-bedroom, 3.5-bathroom condo overlooking the ocean in Destin, Florida for $2 million. Spears had bought it at the height of her fame in 2001 for $920,000.
Other properties owned by Spears include a 21-acre Thousand Oaks mansion that Spears purchased for $7.4 million in 2015 while still under conservatorship and 7.4 acres of land in her hometown of Kentwood, Louisiana that Spears secured as soon as she started gaining fame in the 1990s.
While Spears has spent the first year of her freedom figuring out where to go with what she owns, it is not uncommon for celebrities who left entertainment to get into home-flipping.
One prominent example is former reality talk show host Ellen DeGeneres. Last fall, she and partner Portia de Rossi earned $15 million in profit after buying a mansion in California’s Montecito for $21 million and reselling it off-market for $36 million to entertainment executive Scooter Braun half a year later.
In January, DeGeneres and de Rossi sold another Montecito home for $21 million to Bumble (BMBL) – Get Free Report dating app founder Whitney Wolfe. Other sales in 2022 include another $13.5 million Montecito property and a $8.8 million miidcentury home in Beverly Crest in May.
At the same time, the two shelled out $70 million for two side-by-side oceanfront properties in Santa Barbara in December.