splits: 15

In a few weeks Adele will embark on what will very likely be the most-lucrative individual Las Vegas residency ever. She’s expected earn around $13 million performing 26 shows between the end of January and the middle of April. She’s also still riding high from the November release of her latest album, “30.” So now seems like a perfect time for Adele to treat herself to a new amazing mansion!

According to a variety of sources, TMZ being the first to report, Adele just finalized a deal to acquire Sylvester Stallone’s Beverly Hills estate.

If you are regular reader of CelebrityNetWorth, you may recall that Stallone first listed this home almost exactly a year ago, on January 21, 2021. It was an off-market listing at that point and word on the street back then was that Stallone was quietly seeking offers starting at…

$130 million

That number would ultimately be proven to be extremely optimistic.

In August 2021 Sly lowered the asking price for to $85 million.

The final amount Adele is reportedly paying?

$58 million

That’s a 55% drop from $130 million and a 30% drop from $85 million. Not that Sylvester really cares. By our count, Sylvester Stallone has a net worth of $400 million. I think he also just wanted to cut the cord on California so he could make the full move to the $35 million Palm Beach mansion he bought last December.

Adele will be acquiring a home that Sylvester custom-built after acquiring the 3.5 acre property in the 1990s for an undisclosed amount. Most of the property’s acreage is steep hillside (as you’ll see when you watch the video below). It was a vacant lot at the time he purchased.

Stallone proceeded to build a 21,000 square-foot Mediterranean mansion that has 8 bedrooms and 12 bathrooms. Here’s a video tour of the impressive property:

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Adele’s new mansion is located in an extremely exclusive gated community called Beverly Park. Beverly Park is a 325-acre enclave high up in the mountains of Beverly Hills that is home to some of the most-famous people in the world. Eddie Murphy lives a few blocks from Adele’s new home. In April 2021 The Rock paid $28 million for Paul Reiser’s longtime mansion. Mark Wahlberg’s nearby custom mansion is likely worth $100 million. Other current Beverly Park celebrity residents include Justin Bieber, Steve Harvey, Samuel L. Jackson, Magic Johnson and Denzel Washington.

The average home in Beverly Park is 20,000 square feet. The few remaining vacant lots regularly sell for $30+ million, so Adele paying $58 million for a lot that already features a 21,000 square-foot mansion could arguably considered a good deal.

Each home in Beverly Park pays a monthly HOA of $3,000. Adele’s annual property tax bill will be $580,000. That’s around $48,000 per month. These homes are in an extremely high-risk fire zone which means she almost certainly will be required to carry CALFIRE insurance coverage which I bet will cost AT LEAST $100,000 per year, call it $10,000 a month to keep it simple. If she puts 50% cash down and finances the other half, her monthly mortgage payment will be around $140,000.

I haven’t even included maintenance/gardening costs, heating bills for that amazing pool etc and Adele is already looking at a $200,000 monthly payment to maintain this home. That shouldn’t be a problem considering Adele’s $220 million net worth but keep in mind she also needs to maintain an $11 million mansion back in England and TWO other mansion in Beverly Hills – one which was acquired in 2016 for $9.5 million and a second which cost $10.7 million in May 2019.

Total it all up and Adele has almost earned entrance into the celebrities who own $100 million worth of real estate club 🙂

Source: This post first appeared on https://www.celebritynetworth.com

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