Just a year after picking up a Hidden Hills estate from The Weeknd, Madonna is ready to part with the posh property, according to Dirt.
The “Material Girl” singer is asking for $25,995,000, which is a tremendous markup from the $19.3 million she paid last April. Abel Tesfaye, who goes by The Weeknd, paid $18.2 million for the new build in 2017.
The gated community of Hidden Hills in Los Angeles has seen a recent flurry of real estate activity.
Star-studded neighborhood
It’s where Sylvester Stallone dropped $18.2 million on a mansion and L.A. Rams head coach Sean McVay moved into a $14 million spread. In March, Drake put his famed YOLO compound on the market. Two of YOLO’s three properties have been sold, while its crown jewel remains on the market for $14.8 million.
The enclave is also home to members of the Kardashian family.
“It is not unusual that Madonna would want to sell after only a year of ownership,” says Cara Ameer, an agent with Coldwell Banker licensed in California and Florida.
“Celebrities trade homes quite frequently. If something no longer works for them, they aren’t afraid to change course,” she adds. “Perhaps she wants to move up to something more grand in Hidden Hills and trade up to a mega-estate like so many uber-celebrities on her level are doing.”
Is the price right?
So will the heat of the Hidden Hills market help the “Express Yourself” singer fetch her asking price?
“Hidden Hills remains a highly coveted, secure, and private enclave in Los Angeles,” says The Agency’s Aimee Stern. “While home prices in Los Angeles have increased as much as 14% month over month during the last year, and even with limited inventory, unless there were meaningful improvements to the property since it changed ownership in April 2021, and it appears there may have been, it may be difficult to justify an over 30% sales price increase.”
Alas, the listing photos show only the grounds, so we can’t be sure of what, if anything, has changed since the place last changed hands.
Packed with amenities
Set on nearly 3 acres, the property comes with “extensive upgrades,” the listing notes. Located at the end of a tree-lined drive, the compound features a 12,000-square-foot main house.
(Realtor.com)
Highlights include a two-story wall of windows in the foyer, a great room with an indoor-outdoor bar, and an adjoining outdoor living room.
The layout features a formal dining room, wine cellar, chef’s kitchen, home theater, music lounge, and study. There are seven en suite bedrooms, with the primary one featuring dual closets, a steam shower, and a stone bath.
Elsewhere on the grounds, you’ll find a two-bedroom guesthouse with a full kitchen and a barn, which boasts a newly built gym and dance/Pilates studio.
The landscaping features redwood trees, lawns, a zero-edge saltwater pool, spa, outdoor kitchen, and full-size basketball court.
(Realtor.com)
So, do all the features and amenities justify the high markup?
“A seller can list a property at an aspirational price, which is a strategy that certainly can attract immediate market attention,” says Stern.
“Purchasing a property previously owned by a celebrity such as Madonna does have cachet,” adds Stern. “This property, in particular, sits on nearly 3 flat, usable acres.”
But there are some downsides, she says. “It is also located on the primary road in the neighborhood, on a corner lot, and does not have the view most people pay for to live in Hidden Hills.
“That said, as I have clients currently living in Hidden Hills, I’d love to see Madonna get her price,” she says.
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