Celebrity Real Estate Roundup

Alex Rodriguez didn't quite hit it out of the park with the sale of his Coral Gables, Fla. home. A-Rod and his ex wife sold the six-bedroom house for $8.5 million -- a big discount from the $12 million they paid in December 2004. No worries, he'll make around $30 mil with the Yanks this year in New York, where he rents on Central Park West.

Conan O'Brien may be staying in Los Angeles for a while. (Here, he and wife Liza Powel shopping on New York's Fifth Avenue -- You're more likely to find them on Rodeo Drive these days.) Glen Close and Josh Groban are also on the move - read on to see who's selling what!

Conan O'Brien
seems willing to make a go of it in L.A. - even without the show that lured him there and then unceremoniously dumped him - putting his two-unit Central Park West, New York City condo on the market for a jaw-dropping $29.5 million! The apartment joins together two 8-room corner units into one massive space consisting of 7 bedrooms, 8 bathrooms, 2 libraries, and three terraces facing both south and west over Central Park. Briefly listed at $35 million, the new price represents a 16 percent reduction. But don't hold your breath for an even better deal - with a cool $45 million settlement over his broken Tonight Show contract, he may not be in a rush to unload.

Glen Close
is movin' on out of the West Side, putting her 2-bed, 2.5-bath Central Park West co-op on the market for $11.8 million. The 2,000-square foot apartment - which Close and husband David Shaw bought for a reported $6 million in 2005 - boasts impressive views over Central Park, and even fits in some small staff quarters (if you have any funds left after coughing up the purchase price). Other residents of the rarefied Bereford Building (left) include Jerry Seinfeld, John McEnroe, and CitiGroup CEO Vikram Pandit.

Josh Groban is decamping to the East Coast, leaving behind his beloved 4-bedroom Tuscan-style Malibu villa (below). The property, purchased in 2005 for $4.125 million, is on the market for $6.1 million. The sprawling 1.8 acre estate features a guest house (with recording studio, natch), a pool with waterfall, a tennis court, and a private beach. Though there isn't info on any new digs, Groban is reportedly moving to New York. Perhaps he should check in with Glen or Conan.

Josh Groban Malibu House

Read about more HousingWatch celebrity news this week. Or find more Manhattan real estate at AOL Real Estate.

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Latoya Rutledge

When it comes to selling real estate, one of the most difficult and frustrating situations for sellers is when market conditions make it nearly impossible to sell at the desired price point. A high initial listing price might be because the seller simply has an unrealistic idea of how their house stacks up against the competition in the area, or because the owner needs to sell for a set minimum price in order to pay off their loan against the property.

With traditional property sales methods, the only way to prevent the property from sitting on the market indefinitely is to keep dropping the price. Unfortunately, this technique doesn't always work - especially if the seller is unwilling to "discount" their house by much.

In areas flooded with homes for sale, reducing the asking price slightly will not bring the desired result. In fact, it's common that the property will continue to sit on the market without offers, alongside the multitude of other unsold properties with similarly reduced prices.

April 19 2011 at 5:36 PM Report abuse rate up rate down Reply