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Tommy Hilfiger's Plaza Penthouse and Celebrity Homes



The New York Post recently reported that Tommy Hilfiger's Plaza penthouse finally sold after an epic eleven years on and off the market. The palatial palace, which started as high as $80M, is finally under contract for $33.25M. Lena Dunham went so far as to say she felt “real estate-shamed” because of her very public post-breakup panic buy followed by her instantaneous buyer’s remorse and then not being able to sell the home she never moved into for a year. So, not only does a celebrity’s status not make sales easier, it can often seem to complicate things.
 
We’d love to write a pitch about why celebrity homes aren’t selling/don’t sell faster than other homes and have the following questions for you:

  1. Have you had experience with listing a celebrity’s home and have you found it takes longer to sell (no need to name names, of course)?
  2. Can you tell us a bit about what happened (again, no need to name anyone specifically)?
  3. Why do you think a celebrity home doesn’t sell faster than other homes, even though it has a famous name attached to it?

Have you had experience with listing a celebrity’s home and have you found it takes longer to sell (no need to name names, of course)?
 
Martin: Often someone gets the celebrity's ear saying "your property commands X% premium because you live there. As such, celebrities are inclined to mark-up their properties with an X-factor and feel no need to stage or style the property. The most common no-nos are using secondary bedrooms as closets, a tired paint job/scratched floors, and strong furniture/art choices (...really?!?!... a wall of  plaster vaginas or a glass case filled with dildos?)
 
Can you tell us a bit about what happened (again, no need to name anyone specifically)?
 
Martin: Please see above.
 
Why do you think a celebrity home doesn’t sell faster than other homes, even though it has a famous name attached to it?
 
Martin: In the end, a celebrity should price the property at the market value. Having a famous name to it may create a bidding war...that is where you would get a premium.



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