Whitney Houston’s $2M New Jersey Mansion Remains Unsold

by Christopher Freeburn | July 11, 2012 11:15 am

Whitney Houston’s palatial New Jersey home has attracted a lot of potential buyers since the pop diva’s sudden death earlier this year. Still, it remains on the market[1].

The 12,500-square-foot home features stained glass windows, five bedrooms, five bathrooms, a jacuzzi and swimming pool, and a motor court with parking for up to 15 cars. It was also the site of Houston’s 1992 star-studded wedding to musician Bobby Brown.

For all that, the owner gets to pay about $40,000 in annual property taxes, The Star-Ledger notes. According to the agent in charge of the listing, Houston’s family has received offers, but has yet to accept one.

Houston purchased the home for $2.7 million in 1987. It’s currently valued at about $2 million. She put the home on the market before her death, after being sued for delinquent property taxes and mortgage payments. Naturally, interest in the property soared in the aftermath of her passing.

So far this year, potential buyers have offered about $1.75 million, which may explain the family’s reluctance to sell.

Agents showing the home have learned to insist on minimum financial requirements before giving tours in order to avoid sightseers and curious fans who don’t intend to make an offer.

Endnotes:
  1. remains on the market: http://www.nj.com/news/index.ssf/2012/07/whitney_houstons_former_mendha.html

Source URL: http://investorplace.com/2012/07/whitney-houstons-2m-new-jersey-mansion-remains-unsold/
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