Mark Wahlberg recently made money from real estate. The actor had a house listed on the market for almost a year, and he finally managed to sell it. However, the final price ended up being over $30 million less than what he asked for it.
Mark Wahlberg initially listed his LA mansion for $87 million
The home in question is a mansion in North Beverly Park, a gated community in Los Angeles. Wahlberg bought the property for $8.25 million in 2009.
While under his ownership, the home saw numerous upgrades. According to the New York Post, he reportedly added an elevator, a pool cabana, a guest house with an attached garage, and other amenities. It ended up being 30,500 square feet with 12 bedrooms and 20 bathrooms. It also sits on 6.2 acres of land.
Wahlberg put the property on the market in April 2022 for $87.5 million.
Mark Wahlberg finally sold the home for $55 million
After sitting on the market for several months, the property’s price was reduced to $79.5 million in December 2022. Then, it was finally sold in February 2023 for $55 million.
Homes of this size are not for everybody, and so they generally are difficult to sell. However, given that Wahlberg initially bought the property for $8.25 million, he still ended up making over $40 million from the sale.
Mark Wahlberg and other celebrities are leaving LA
Wahlberg sold the house because he and his family are moving out of LA. They are settling in Las Vegas.
Read Related Also: Antonio Banderas: Heart attack was ‘one of the best things’ to happen to me
According to Dirt, Wahlberg bought a 7,327-square foot home for $14.5 million in the Summerlin community in Las Vegas. He also bought a 2.5-acre property in the resort community the Summit Club. For this, he paid $15.6 million in hopes of building a mansion on the land.
In October 2022, he explained to The Talk (via People) about the move to Las Vegas, sharing that he is hoping to develop “build a state-of-the-art [film] studio here and make this Hollywood 2.0.”
“I want to be able to work from home,” Wahlberg further explained. “I moved to California many years ago to pursue acting, and I’ve only made a couple of movies in the entire time that I was there. So, to be able to give my kids a better life and follow and pursue their dreams whether it be my daughter as an equestrian, my son as a basketball player, my younger son as a golfer, this made a lot more sense for us.”
Wahlberg is not the only celebrity who is leaving LA. According to Love Property, dozens of famous people have ditched LA and settled in other parts of the United States (or even other countries). Some examples include Busy Philipps, Gene Simmons, Post Malone, Matt Damon, and Chris Hemsworth.
Speaking about his decision to leave California and move to Nevada, Gene Simmons said, “I’m done. There are earthquakes, fires and pandemics every year.”
Meanwhile, Busy Philipps, who moved to New York, stated, “I don’t know one f—ing person in Los Angeles who doesn’t have Irritable Bowel Syndrome. It’s why we all give up gluten and wheat, but maybe it’s the toxicity of the city. I don’t know, just a theory. When the fires started again this year I just had this real lightning bolt moment where I turned to Marc [Silverstein, my husband] and said, ‘We have to leave. We have to go to clean air.’”
For more on the entertainment world and exclusive interviews, subscribe to Showbiz Cheat Sheet’s YouTube channel.
