Springsteen Takes a Loss on House Sale

Bruce SpringsteenBruce Springsteen, winner of 20 Grammy Awards, has sold one of his two neighboring homes in Florida's Palm Beach County for $1 million less than its original list price, reported the Palm Beach Daily News. This is just further proof that celebrity real estate isn't immune to the housing bubble.

The legendary rocker sold the home at 3561 Ambassador Road in Wellington for $2.95 million, a big cut from its original $3.95 million list price. The sale price is also less than the $3.1 million Springsteen paid for the 5-bedroom in the spring of 2008. The $150,000 loss (not including his real estate agent's cut), may seem like a drop in the Atlantic Ocean for a man worth millions, but when you consider the short time he owned the home, it's quite a chunk of change.

The home is on the grounds of the Equestrian Club Estates, a fitting location for the family since teen daughter Jessica is one of the nation's best young riders, according to an equestrian Web site aptly dubbed, "A Horse Blog."

The buyers, Daniel M. and Ellen Podell Crown, are part of the Chicago Crown family listed as No. 208 on the 2010 Forbes 400, with an estimated worth of $4.1 billion.

The Crown's will be neighbors of the "Born in the USA" crooner, who also owns the home next door at 3581 Ambassador Road, which he purchased in September 2008 for $4.6 million. The 4-bedroomer is a home the Springsteen family previously rented, according to the Realestalker.

The Springsteens' primary residence is in Rumson, N.J., and they also own a home in Beverly Hills, CA.

See homes for sale in Wellington, Fla.
See homes for sale in Palm Beach, Fla.
See homes for sale in Rumson, NJ
See homes for sale in Hollywood


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