8:40 am February 16, 2012, by David Markiewicz
Whitney Houston’s former house in New Jersey is up for sale.
Her 12,600-square-foot mansion in Mendham, N.J. is on the block for $1.75 million, according to Curbed, where you can have a look at the trimmings and trappings.
Perhaps owing to the realities of the modern real estate market, that sum is down from the original asking price of $2.5 million when it was first listed in 2009.
The home has been on and off the market since.
If you’re interested in the property, though, know that it’s a private listing and that it’s only being shown to pre-approved parties with $1.5 million in liquid assets.
That ought to keep the gawkers away.
As anyone who keeps up with the lives of the rich and famous knows, Houston, despite a lifetime of big paydays, was a lot less rich at the end.
How much her estate will capitalize beyond the sale of the house has yet to be determined, although Michael Jackson’s did after his death. But that was a different situation.
According to CBS News, Houston’s estate is expected to take in about $10 million this year, but that’s far less than others will make because Houston did not write or own her songs. The bulk of royalties go to the songwriter and the publisher. In fact, they get about eight cents every time one of their songs is played on the radio.
Dolly Parton wrote “I Will Always Love You” in 1973 and has made a fortune on it ever since.
The late Michael Jackson co-wrote and owned most of his music. Just last year, his estate took in $170 million.
“Whitney Houston’s estate is not going to approach Michael Jackson’s estate in terms of post-mortem earnings,” Zack O’Malley Greenburg, staff writer of Forbes magazine, said. “She didn’t accumulate the kind of assets during her career that Michael Jackson did.”
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