YOUR MAMA’S NOTES: The “massive real estate holdings” of Prince will be sold off on the open market at a minimum of 90% of their fair market value, according to celebrity gossip juggernaut TMZ, when and if the otherwise unidentified “special administrator” of his estate gains approval of the Minnesota judge who is presiding over the administration of the late musician’s probated estate.
The seven-time Grammy winner, who also earned himself an Oscar for the 1984 film “Purple Rain,” was found unresponsive on the 21st of April, 2016, in an elevator at Paisley Park, his long-time recording and residential compound in Chanhassen, MN, about 20-miles southwest of downtown Minneapolis. An autopsy revealed the star passed at 57, without natural-born heirs or a will in place, of an accidental overdose of the powerful and powerfully addictive opioid fentanyl. Not surprisingly, dozens of people have come forward to stake claims on the enigmatic and flamboyant singer’s superstar-sized fortune, estimated to be between $250-300 million. The presiding judge reportedly dismissed close to 30 cases has ordered at least six people, all previously believed to be relatives of the star, to be DNA tested for genetic parity.
Since the section of the request by the unidentified “special administrator” was sealed by the court, again according to TMZ, it’s not known which of Prince’s many residential properties are slated for sale. A comprehensive perusal of a variety of property record data bases and a friendly consult with The Bizzy Boys at Celebrity Address Aerial indicates that in addition to Paisley Park, an approximately 65,000-square-foot post-modern complex he custom built in the late 1980s at an estimated cost of around $10 million on more than nine acres and that contains state-of-the-art recording studios, executive offices, and an apartment that he used as his primary residence, several other properties were part of his extensive portfolio.
Included are several well-maintained although hardly luxurious houses in unassuming neighborhoods just west of downtown Minneapolis as well a modest little number on a leafy if otherwise unremarkable cul-de-sac in Chanhassen that was for sale at the time of his death at $335,000. The Chanhassen property, which was originally listed in the fall of 2015 at $365,000, was taken off the market in the months after his death but still-available digital marketing materials from when it was listed show the late 1960’s ranch house has three bedrooms and 2.5 bathrooms in 2,508-square-feet with open-plan living/dining/kitchen area, dark hardwood floors, colorfully painted walls and a finished and fully carpeted basement with fireplace.
Directly across the busy, four-lane expressway from Paisley Park are two vacant residential parcels that together total more about 31 acres and which will likely be sold along with two more mostly wooded residential parcels that come to just over 3.3 acres on the picturesque shore of Chanhassen’s Lake Riley. The Lake Riley properties were once the site of a purple-painted Tudor-style residence where Prince’s father lived until his 2001 death and that was torn down in 2003. According to published reports, in 1994 Prince paid $605,000 for a nearly 20-acre estate about 1.5 miles to the north and west of Paisley Park where for some time he resided in a bright yellow mansion with purple trim. He scooped up several additional and sizable adjoining parcels that ballooned the size of the property to around 150 acres but had the yellow and purple mansion razed in 2005. The land remains undeveloped.
In 2010 the semi-reclusive singer, who became staunchly religious in his later years, reportedly paid an undisclosed amount for a sumptuous waterfront retreat on the Caribbean island of Providenciales in the Turks and Caicos that came for sale just weeks after his untimely passing with a reported asking price of $12 million. A gated, serpentine drive that Prince painted his signature purple, according to Architectural Digest, snakes up to the 10,000-square-foot, hill-topping multi-winged mansion that encompasses ten bedrooms and ten bathrooms. Other features of note include a hexagonal great room with panoramic views, vast ocean-view terraces for outdoor lounging and dining, a resort-worthy swimming pool where a circular spa floats like and island in the middle under a palapa, tennis court, tropical gardens, a two-story guesthouse, and a 200-foot-long boat dock. (For the record, we have yet to turn up a publicly accessible digital listing for the opulently appointed estate and a digital query sent to Robert Greenwood at Regency Christie’s International Real Estate, the named listing agent in a myriad of publications, has yet to be answered.)
Prince once owned a large but not particularly extraordinary house tucked up into a quiet cul-de-sac in the Coldwater Canyon area of Beverly Hills that was sold in 1997 for $2.2 million and, at least as far as this veteran property gossip knows, the globetrotting Minneapolis native never owned another home in Los Angeles. He did, however, on at least two occasions, spend a spend some pretty pennies to lease lavish mansions in Los Angeles. In 2008 he was widely reported to have shelled out around $200,000 per month for an opulent mega-mansion in the Beverly Park enclave in the mountains above Beverly Hills that is currently owned by handbag mogul and high-end property investor Bruce Makowsky. Several years earlier he reportedly shelled out $70,000 per month on an eight-month lease to rent a ten bedroom and 11-bathroom mansion just above the Sunset Strip from NBA player Carlos Boozer who was less than pleased to discover the theatrically eccentric musician not only made scads of unauthorized alterations to the interior of the house that included the installation of a hair salon but also painted the exterior with purple stripes along with his preposterously unpronounceable “Prince” symbol and the number 3121, the name of his thirty-first studio album that was released on March 21, 2006.
While it seems a pretty safe bet that most if not all of Prince’s properties will eventually be sold, his legacy as a preternaturally innovative and hugely influential musician of beloved global renown will live on in well-earned perpetuity through his 39 studio albums, five soundtrack albums, four live albums, five compilation albums, and seventeen video albums.
Aerial and exterior photo of Paisley Park: Google
Listing photos (Chanhassen): Lakes Sotheby’s International Realty (via Movoto)
Listing photos (Turks and Caicos): Regency Christie’s International Real Estate (via Daily Mail)