Adele pays $ 58 million for Sylvester Stallone’s Beverly Hills property

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In a few weeks, Adele will be opening what is probably the most lucrative single residence of all time in Las Vegas. From late January to mid-April, she is expected to earn around $ 13 million with 26 shows. She is also still in high gear from the November release of her latest album “30” and seems to be settling into the couple life with boyfriend Rich Paul. So now it seems like the perfect time for Adele to treat herself to a new, amazing villa!

Adele has just closed a deal to acquire Sylvester Stallone’s Beverly Hills property, according to a variety of sources, with TMZ being the first to report.

If you read CelebrityNetWorth regularly, you may remember that Stallone first listed this house pretty much exactly a year ago, on January 21, 2021. It was an over the counter listing at the time and at the time the street claimed that Stallone was calmly offering it off …

$ 130 million

That number would ultimately prove extremely optimistic.

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

The final amount Adele is supposed to pay?

$ 58 million

That’s a 55% decrease from $ 130 million and a 30% decrease from $ 85 million. New Year’s Eve doesn’t really care. By our count, Sylvester Stallone has a net worth of $ 400 million. I think he even wanted to cut the California wires so he could make the full move to the $ 35 million Palm Beach mansion he bought last December.

Adele will purchase a home that Sylvester custom-built for an undisclosed amount after purchasing the 3.5 acre property in the 1990s. Most of the property’s lots are on steep slopes (as you’ll see if you watch the video below). At the time of purchase, the property was empty.

Stallone built an 8 bedroom, 12 bath Mediterranean mansion measuring 21,000 square feet. Here is a video tour of the impressive property:

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Adele’s new villa is located in an extremely exclusive gated community called Beverly Park. Beverly Park is a 325-acre enclave high up in the Beverly Hills Mountains 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. The nearby Mark Wahlberg mansion is likely worth $ 100 million. Other current Beverly Park celebrities include Justin Bieber, Steve Harvey, Samuel L. Jackson, Magic Johnson, and Denzel Washington.

The average Beverly Park home is 20,000 square feet, and the few remaining vacant lots can easily be sold for more than $ 30 million. So Adele pays $ 58 million for a piece of land that already owns a 21,000-square-foot mansion could arguably be considered a good deal.

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

I didn’t even factor in maintenance / gardening costs, heating costs for this amazing pool, etc … and Adele is already counting on paying $ 200,000 a month to maintain this home. That shouldn’t be a problem considering Adele is worth $ 220 million net worth, but keep in mind that she also has to maintain an $ 11 million mansion in England and TWO other mansions in Beverly Hills – one that Purchased in 2016 for $ 9.5 million and a second which cost $ 10.7 million in May 2019.

Between these three Beverly Hills mansions, Adele owns $ 78 million worth of real estate in California. Your annual property tax bill for these three homes will be around $ 800,000. So to cover California property tax collector, Adele has to set aside around $ 130,000 pre-tax … EVERY MONTH!

Put it all together and Adele almost earned access to the celebrities who own a $ 100 million real estate club 🙂

This post first appeared on celebritynetworth.com

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