Tom Brady and Gisele Bundchen Can’t Seem to Sell Their Luxurious $14 Million New York Apartment
It’s been a rough year for Tom Brady and Gisele Bundchen. Not only did Brady and the New England Patriots suffer a devastating loss to the Philadelphia Eagles in Super Bowl 52, the celebrity couple can’t seem to rid themselves of their lavish Manhattan apartment. The pair maintains another expensive property nearby, so they are eager to unload this extra condo and move on. Of course, that’s easier said than done.
Tom Brady and Gisele Bundchen have listed the full-floor unit in One Madison tower on multiple occasions, this time lowering the price substantiality in another desperate attempt to sell. The property is gorgeous, so why won’t it sell? Here are a few thoughts.
A flippant list-price
If the pair wants to sell their luxury Manhattan apartment, it looks like Tom Brady and Gisele Bundchen might have to take what they can get. The Patriots QB and his supermodel wife recently re-listed their condo with a new broker and a considerably lower asking price of $13.95 million. This deduction comes after their failed first attempt to sell in 2016 for $17.25 million, which many believe was wishful thinking, and $15.99 million in 2017. The couple purchased the full-floor dwelling at One Madison for $11.7 million in 2014.
Aggressive price slashing indicates Tom Brady and Gisele Bundchen are having trouble selling the condo nestled on the 48th floor of the sleek, 60-story tower. Here are a few reasons why unloading this estate may be tougher than expected.
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Celebrities face an uphill battle already
Some celebrities grow accustomed to getting what they want just by name dropping. But selling real estate isn’t as easy as scoring dinner reservations at a high-end restaurant last-minute when you’re famous. Curbed Los Angeles says celebrities tend to sit on houses longer than the average American. They sell for less than asking price and spend 36 more days on the market than other homes, according to Redfin.
The public lifestyle, constant press, and higher price tags often dissuade buyers from inking a deal when they “know” all about the debauchery that occurred inside the walls previously. Should house hunters deem this activity distasteful, sellers could be awaiting an offer for much longer than is normal.
Next: Here’s what’s inside Tom and Gisele’s lavish home
Unusual features that may be a turnoff
Fourteen million dollars will buy a lot of swanky features, but it won’t buy privacy — which is exactly what those in the public eye crave at home. The standout feature in Tom Brady and Gisele Bundchen’s home is the floor-to-ceiling windows overlooking the Empire State Building and Manhattan’s skyline. Private celebs with a fear of heights may want to steer clear, as it’s the first thing viewers notice when emerging from the private elevator with bronze double doors.
Other unique features include a den/media lounge (also with sweeping views), en-suite bedrooms, and a master bathroom completely open to the bedroom which also faces, you guessed it, more floor-to-ceiling windows.
Next: It’s not just a lack of privacy that could deter potential buyers
Why people don’t want Tom Brady’s house
Given their swanky tastes for the high-life, Tom Brady and Gisele Bundchen are also facing an uphill battle when it comes to interested buyers. The three-bedroom, 3.5 bath house was designed by Peter Marino. His exceedingly expensive, urban tastes are eclectic, to say the least, as is the sleek modern architecture throughout the unit. Experts say customized features such as these alienate a large list of potential buyers whose tastes may not align to the sellers. And whoever purchases this house will need deep pockets if they plan to renovate and manage upkeep simultaneously.
The bills associated with this pie-in-the-sky location are also unpleasant to clients. Variety reports monthly common charges associated with Tom Brady and Gisele Bundchen’s unit hit almost $7,000. The property taxes climb to nearly $4,000 per month.
Next: Other impressive amenities may be a game-changer
Though agents believe the views to be the unit’s most prominent selling feature (for some), One Madison tower offers a few other top-end luxuries to residents. There’s a 24-hour staffed lobby, a private dining room with catering kitchen, a parlor with billiards table, a fitness center, a lap length swimming pool, and a spa including an all-glass steam room overlooking Madison Square Park.
These extravagancies — plus the lower price tag — has garnered new interest from buyers, including Monaco’s Consul General, Kemal Kropulu, who was one of the first to tour the unit recently.
Next: A pricey real estate portfolio
What Tom Brady and Gisele Bundchen already own
The duo’s real estate portfolio is quite impressive. Paying for it all is tough for even this wealthy couple. They currently maintain a stately mansion in the affluent Chestnut Hill Community just outside Boston, which they picked up for $4.3 million in 2013. The custom-built estate backs up to the prestigious Country Club in Brookline. This is the same club that once declined the couple’s membership application.
Tom and Gisele traded up at 70 Vestry, Robert A.M. Stern’s limestone Tribeca condo rising along the Hudson River for a much bigger five-bedroom, 5.5 bath unit for $32 million because Brady wanted to live on the 12th floor rather than the 11th floor — the same as his jersey number. This sumptuous condo boasts 1,900-square-foot of private terrace space with a view of the Empire State Buildings.
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Another investment, or a failed money pit?
Tom Brady and Gisele Bundchen have a history of buying and selling homes for profit. They sold their Los Angeles French-style residence to Dr. Dre for $40 million in 2014. But previous properties never gave them this much trouble. After purchasing their One Madison condo, the pair tried to rent the place for $40,000 per month. It’s unclear how successful that venture was before they opted to sell entirely.
Wealthy resident Rupert Murdoch also tried to sell his triplex penthouse in 2015 for a whopping $72 million asking price, but that was unsuccessful as well. Is One Madison tower a real estate dead end? Maybe.
Next: Tom Brady and Gisele Bundchen aren’t the only ones with real estate woes
Other celebs who had trouble selling their homes
History indicates the Bundchen-Brady bunch could continue to struggle to sell their condo at a lower price. Matt Lauer also underwent multiple price drops while selling his multi-million-dollar Sag Harbor home. It’s now listed for $5.25 million lower than its original asking price. Other celebrities like Mark Wahlberg, Kelsey Grammer, and Christina Aguilera also faced unexpected real estate roadblocks in their day. It took Aguilera two years to sell her quirky Beverly Hills mansion that was previously owned by the Osbourne family.
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