It seems not all celebrities are immune to the turbulence in the housing sector. Recently, Ryan Seacrest joined an increasing list of celebrities selling their homes at a loss, proving that the celebrity tag doesn’t always guarantee wise real estate transaction.
The anchor/producer has reportedly sold his Hollywood mansion for a price tag of $11 million, taking a loss of $500,000 on the property, which he bought from actor Kevin Costner in 2006. Costner had purchased the property from Richard Dreyfuss.
The Mediterranean style Hollywood property known as Casa di Pace includes a private night club, supposedly inspired by the Hôtel Costes in Paris, and three other guest homes spread across 2.87 acres. Other highlights include a pool, spa, tennis court, a bar and a wine cellar.
On his decision to buy the house, Ryan had earlier told the Architectural Digest, “It was really tricky to find something that had the convenience factor—I wanted to be at work in 10 minutes—and at the same time the escape factor. In my head I was seeing the sort of villa you might see in Spain or Italy. The day I saw the house was the day I made an offer.”
Ryan and his girlfriend Julianne Hough are currently put up in the mansion in Beverley Hills he bought from talk show host Ellen DeGeneres. He purchased the house for $37.5 million.
Meanwhile, other celebrities such as Tiger Woods and Ben Stiller recently sold their homes at losses. Woods’ Corona del Mar luxury beachside condo fetched him only $2,213,875, which is $800,000 less than what he paid for in 2004, and Stiller to take a loss of $400,000.