10 Celebrity Real Estate Investors You Should Know
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10 Celebrity Real Estate Investors You Should Know
A-Rod has hit nothing but home runs since he first started investing in real estate when he was just 22-years-old. The retired Yankees slugger, who maintains a custom-built contemporary estate in Coral Gables, Fla., that was featured a few years ago in Architectural Digest as well as a beachfront home in Malibu, Calif., that he and Jennifer Lopez bought last year for $6.6 million from Jeremy Piven, owns Monument Capital Management which has about 10,000 family units to its name, according to CNBC.com. He also owns Newport Property Construction, which has managed the development of over $1.5 billion worth of properties according to A-Rod Corp.
The most well-known celebrity real estate flippers are probably Ellen DeGeneres and Portia de Rossi. They flip luxury real estate like a gymnast does somersaults — with pace, precision, passion and panache. DeGeneres’ well-known love for real estate and design spawned the HGTV show “Ellen’s Design Challenge” and also launched a lifestyle brand “ED by Ellen.”
According at an analysis by The Real Deal, between 2017-2019, DeGeneres and her wife, actress Portia de Rossi, closed approximately $152 million in eight real estate transactions. And, in fact, they have a freshly gussied-up estate in Montecito, Calif., up sale at $6.9 million after buying it less than six months ago for $3.6 million.
The property mad couple additionally own a Beverly Hills mansion they bought last year for $42.5 million from rock star Adam Levine as well as a Balinese-inspired compound in Montecito they scooped, also up last year, for $27 million.
According to Bisnow, married tennis legends Andre Agassi and Steffi Graf founded Agassi Graf Development in the mid-2000’s, which focuses largely on luxury hotels. They formed a partnership with Exclusive Resorts to include Agassi-branded fitness centers, 2,000 homes, a spa and a golf course. Additionally, Agassi builds charter schools with the Turner-Agassi Charter Schools Fund II.
Though not as prolific as Ellen and Portia, Diane Keaton has renovated, restored and flipped a bundle of historic, and often distressed, homes across Los Angeles. According to CoreVest the veteran actress sold Madonna one of her rehabs, a stately Spanish mansion in Beverly Hills, for $6.45 million. She also sold television titan Ryan Murphy another Beverly Hills mansion that he had on the market earlier this year at almost $17 million. And, in early 2016 she sold a 7,800-square-foot Pacific Palisades property for $6.9 million four years after picking it up for $5.6 million.
Keaton hasn’t, however, limited her real estate investing to the Los Angeles city limits. In 2018 she picked up an investment property in Tucson’s Barrio Viejo neighborhood for $1.5 million that she plans to restore and sell.
Maybe it had something to with the fact that these two starred in “Ocean’s Eleven” together, but the first project these Hollywood a-listers dabbled in was attempting to develop a Las Vegas casino, La Ramblas, along with Cindy Crawford’s husband Randy Gerber. High construction costs forced the excavators off the lot but the gamble eventually paid off, as the leading men sold the 25 acres they originally purchased in 2005 for $90 million just a year later to Starwood Hotels and Resorts for $202 million. Jackpot!
Both Pitt and Clooney also preside over extensive portfolios of private homes. Clooney’s holdings include multimillion dollar homes in the Studio City area of Los Angeles, New York City, the U.K. and Italy’s Lake Como, while Pitt’s holdings include a multi-residence compound in Los Angeles‘ Los Feliz area and a funky beachfront compound near Santa Barbara.
Question: what do you do when your roles as a 1990s TV heart-throb dry up? Become a real estate developer, naturally. While many of David Charvet’s contemporaries on “Baywatch” and “Melrose Place” had bumpy post hit TV careers, Charvet co-founded L.A.based Jones Builders Group and developed what’s known as the Charvet Estates line of homes.
In fact, one of the actors’ custom-built residences, Petra Manor, was briefly touted to be a possible future abode of Prince Harry and Meghan Markle who, instead, took up residence in a Beverly Hills mansion owned by Tyler Perry.
Big guy, big investments. Shaquille O’Neal doesn’t do things in small measures. Commercial real estate is just one of the many lucrative post career investments that Shaq has focused on. According to Money.com, the former Laker at one point owned 155 Five Guys restaurants, 10% of the company (a stake he’s now sold), along with 17 Auntie Annies and one Krispy Kreme franchise in Atlanta. He also has a CityPlex 12 movie theater in his hometown of Newark, NJ.
In addition, the avid investor opened a Big Chicken restaurant in Las Vegas (with another location in Glendale), and a restaurant serving up Southern fare located around the corner from the Staples Center in L.A. In his latest gastronomic venture, he’s joined Papa John’s Pizza board of directors. He’s already invested in nine stores near Atlanta and received a payday of $8.25 million for a three-year endorsement deal to be the brand’s ambassador.
Shaq’s private homes include: a nearly 30,000-square-foot spread in Windermere, Fla., that was set out for sale in 2018, first at $28 million and then $22 million; a large home outside Atlanta, Ga., that he picked up in 2016 for $1.15 million; and a five-bedroom house in L.A.’s suburban Bell Canyon that he bought in 2018 for $1.8 million and now has for sale at not quite $2.3 million.
Swift by name, swift by nature. Pop princess Taylor is about to crowned Queen of Tribeca, as she’s buying up real estate in New York City’s priciest neighborhood like most people snatch up hand sanitizer at Costco.
With a net worth estimated to be in the region of $360 million, according to Business Insider, Swift has spent a big chunk of her riches on real estate, somewhere in the region of $100 million,with a huge chunk of that, close to $50 million, spent on a single block in Tribeca.
In 2014 she paid about $20 million for two adjacent penthouses she acquired from “Lord of the Rings” director Peter Jackson. The units were combined into a single, suburban mansion-sized duplex with more than 8,300 square feet.
Then, in 2017, she surprisingly and somewhat inexplicably snatched up the 27-foot-wide townhouse next door in an off-market deal valued at $18 million. However, the property-mad pop star wasn’t done there. In 2018 she ponied up another $9.75 million for a condo in the same building as her penthouse.
Swift’s other holdings include several homes in the Nashville area, a fabled Bevelry Hills mansion she bought in 2015 for $25 million, and a prominently sited seaside mansion in Westerly, R.I., she snagged in 2013 for almost $18 million.
“I’ll be back … with my contractor.” Arnie first muscled his way into real estate while he was pumping iron on Venice Beach, looking for a way to support his 1,000 daily reps body building habit by buying a six-unit building in Santa Monica and living in one of the apartments himself.
In subsequent years, as he traded box squats for the box office, he upgraded by buying a 12 and then a 36-unit building. He currently owns hundreds of apartment units, office buildings and retail space in West Hollywood and Los Angeles, estimated to be worth over $300 million.
Schwarzenegger’s small collection of private estates include a 15,000-square-foot mansion in the Brentwood area of Los Angeles and a multi-winged mansion near the ski resort community of Sun Valley, Idaho.
Former Dallas Cowboys football player Roger Staubach was ahead of his time as far as investing in real estate is concerned. At a time when many pro athletes envisaged a post playing career on the after dinner speaking circuit or opening a sports themed bar and restaurant, Staubach opened his own real estate firm in 1977 and then dived into office development, piggy backing the Texas oil boom of the 1980’s. His effort were, to say the least, lucrative. He sold the firm in 2008 for $640 million.