Expensive Mega-Mansions That Are Nearly Worthless Today

Celebrities and people with money to spend have invested part of their riches in living a comfortable life, which includes having a grand mansion to live in. While some people purchase a mansion and live there for most of their lives, there are some who love to amass these magnificent properties or purchase one until the best thing comes along. You would think that the real estate business is a breeze amongst the rich and the famous.

With seemingly unlimited wealth, they can buy any luxury piece that they want without a second thought! However, these mansions have been in the market for so long that their price and value are now seemingly worthless. If you had unlimited money and could purchase a mega-mansion from the list, which one would you pick?

Mel Gibson’s Home

Mel Gibson’s Home

You would think that Mel Gibson’s spectacular summer vacation home in Malibu, California, would be one of the top choices of real estate, but you are mistaken. Its original price was at $14.5 in 2010, but since there were no takers, he dropped it to $12.8M, and by 2011, it hit its lowest point at $11.8 million. A decade later? Still, no takers.

Kurt Russell and Goldie Hawn’s Beach Mansion

Kurt Russell and Goldie Hawn’s Beach Mansion

In Malibu, California, couple Kurt Russel and Goldie Hawn’s Beach mansion has been on the market since 2011 for a whopping $14.8 million! It is not easy to imagine why people would not want to purchase this beach house with its beautiful tropical-theme! However, three decades later, the beach house is still on the market, but the couple has been renting it out to Airbnb for $95,000 per month.

50 Cent’s Connecticut Mansion

50 Cent’s Connecticut Mansion

With all the amenities of 50 Cent’s mansion home that boasts a whopping 52 rooms, a recording studio, a hot tub area, and a gaming room, you would think that this is well worth the asking price of $18.4 million. He purchased the mansion for a mere $4 million, and he listed the mansion to be what it is priced today. According to real estate agents, the rapper cannot sell the house because it is way too overpriced.

Faith Hill and Tim McGraw’s Mansion 

Faith Hill and Tim McGraw’s Mansion 

Faith Hill and Tim McGraw have a combined net worth of about $135 million. With that spending power, of course they can afford this amazing castle in Tennessee, which boasts more than 1853 acres! It is currently on the market for $20 million. It seems like a good deal for such a catch, but the location means everything when it comes to real estate. Since the castle is located in a sleepy town, it may be too boring for celebrities who are used to the fast-paced city life.

Tommy Hilfiger’s Mansion

Tommy Hilfiger’s Mansion

Boasting several rose and water gardens, a greenhouse, and a beautiful cottage, you would think that people would be lining up to have first dibs on Tommy Hilfiger’s mansion in Connecticut. The mansion was originally named Chateau Paterno, as it was built for Charles Paterno. The mansion is filled with many paintings and sculptures. Hilfiger and his wife are now relocating to Florida and put their mansion up for sale for $48 million in 2020, but after a year, still no takers.

Michael Jordan’s Estate

Michael Jordan’s Estate

Michael Jordan’s amazing mansion in Chicago has been on the market since 2012 with an original asking price of $29 million. Currently, the mansion is priced at $15 million, and Jordan even forked in a rare pair of Jordan shoes to no avail. According to real estate experts, his asking price is just too high for a mansion that only has Jordan as a selling point.

Jennifer Lopez Mansion

Jennifer Lopez Mansion

Jennifer Lopez’s mansion in Los Angeles, California, is a dream come true for any celebrity. It has nine bedrooms, a dance studio, a gym, a theater, and even a recording studio! It was originally listed on the market in 2015 for $17 million, but she has significantly lowered the asking price by $4 million. The main reason why this mansion is not selling is because of the high property tax in LA.

Sylvester Stallone’s Mansion

Sylvester Stallone’s Mansion

Sylvester Stallone’s mansion in La Quinta, California pays homage to his Italian ancestry as the actor himself picked out the house décor and theme himself! The original listing of the mansion dated back to 2014 and was priced at $4.5 million. However, because of a lack of buyers, Sylvester has reduced the price to a mere $3.9 million.  

Ellen DeGeneres Mansion

Ellen DeGeneres Mansion

Ellen DeGeneres and her wife, Portia, are known for flipping mansions and reselling luxury homes. However, their luck seems to have ended with their swanky Los Angeles condo. Their condo is priced at $8 million and has been in the market since 2014.

Joey Lawrence’s Mansion

Joey Lawrence’s Mansion

The former Bloom actor has been selling his Spanish estate in Los Angeles for nearly two decades! His estate has six bedrooms, sauna rooms, a movie theater, and a master suite. He bought the property back in 1994 for $1.4 million, and his current asking price i $2 million. 

Matt Lauer’s Hampton House

Matt Lauer’s Hampton House

Matt Lauer’s house in the Hamptons is a dream vacation house! It boasts six bedrooms, a huge porch located in front of a picturesque beach – just imagine chasing sunsets with this house! He is currently selling his mansion for a whopping $44.8 million, and it has been in the market since 2019.

Steven Cohen’s Penthouse

Steven Cohen’s Penthouse

You would think that a businessperson would be luckier in the real estate industry. However, there is no such luck in selling Steven Cohen’s New York penthouse. Steven Cohen is a wealthy hedge fund owner who decided to sell his penthouse for a whopping $113 million back in 2013. Since then, the asking price has been significantly reduced and now sits at $98 million.

Alan Wilzig’s Townhouse 

Alan Wilzig’s Townhouse 

If you have watched the film Wolf of Wall Street, you would know who Alan Wilzig is as he is depicted as a minor character in the film. He has been selling his New York townhouse for $44 million since 2014. However, the famous businessman seems to have trouble selling because his townhouse is still on the market.

Forge Mansion

Forge Mansion

The Forge Mansion was built in Pennsylvania back in the 1770s. This classic masterpiece is made from stones and a gable roof! With such a classic home, you can probably guess why this house has been on the market for some time now – it is said that ghosts haunt the home. 

The Halston Penthouse

The Halston Penthouse

Now, who can forget the Halston Penthouse and the many extravagant parties it has hosted back in the day! This extravagant home has been in the market since 2011, where its initial value sat at $38 million; however, the price has significantly dropped down to $21 million because of a lack of interest from potential buyers.

Mediterranean Mansion

Mediterranean Mansion

The Mediterranean Mansion is also known as Palazzo di Amore boasts over 43,000 square feet, a wine cellar, and 12 bedrooms. It was used by many celebrities who chose to have extravagant parties there, but apparently, there are no takers on any celebrity who wants to purchase the mansion. It is on the market for a whopping $129 million.

Aiken State

Aiken State

The Aiken Estate is a lush mansion located in Savannah, Georgia. The house is in a prime location with beautiful gardens, a huge verandah, and five bedrooms and bathrooms. It was previously owned by the famous poet, Conrad Aiken who did not have a happy relationship with his wife, Anna, who was rumored to be a socialite that loved to spend money. The relationship did not turn out well, and rumors are that the couple’s ghosts continue to haunt the manor.

Granot Loma

Granot Loma

Granot Loma is considered one of the most beautiful mansions in Lake Superior, Michigan. Around 400 Scandinavian craftsmen have worked on the home. It has over 20 rooms, a hot tub, four separate apartments, and a private marine area to boat! It has been in the market since 2017 with the initial asking price of $40 million, but the asking price was cut in half due to a lack of buyers.

Neverland Ranch

Neverland Ranch

The iconic Michael Jackson famously owns the Neverland Ranch. The famous property has two guest houses, a lake, a 50-seat movie theater, and several Disney-themed rides. However, when the music icon died, the property fell into despair and had a history of financial difficulties and even foreclosures.

Stone-Walled Estate

Stone-Walled Estate

This fairy-tale mansion offers any royalty’s dream come true! The mansion has its own wine cellar, an eleven-car garage, a home theater, and is over 30,000 square feet! It has been in the market since 2010 with the asking price of $60 million but has since depreciated due to hefty property taxes.

Golden Gate Glamour

Golden Gate Glamour

This classic home boasts of amazing architecture that just reeks of Old-World glamor. Its space boasts of over 16,000 square feet, an elevator, seven bedrooms, and eleven bathrooms. It has been listed in the market since 2017 for an expensive $29.5 million in the San Francisco market.

Denise Richards Mansion

Denise Richards Mansion

Denise Richards is a famous actress and model and is also on The Real Housewives of Beverly Hills. Her mansion in Calabasas is worthy of a Beverly Hills housewife because of everything it has – a water pool, a waterslide, a wood-fired pizza oven, and an extravagant master’s bedroom. It is also rumored that Angelina Jolie rented the mansion after her divorce from Brad Pitt.

SK Pierce Mansion

SK Pierce Mansion

One look at the SK Pierce mansion, and you would probably guess why it has been sitting on the market until now. The large Victorian mansion was previously owned by Sylvester Pierce, known for his amazing furniture. The mansion was built in the mid-1870s and is known to be haunted. In fact, some people rent the house to try to get a glimpse of the paranormal.

8 Mile Road Mansion 

8 Mile Road Mansion 

This Chateau-inspired mansion is so secluded that it requires tourists and visitors to drive on a long and winding private road before reaching it. Boasting over 4 acres of land, the location of 8 Mile Road is in Michigan.

Pillar Estate

Pillar Estate

This stunning Greek-inspired estate is in a prime location in New York and has five fireplaces, a library, a ballroom, six bedrooms, and even a parlor! It was first put in the market in 2015 for a million but has depreciated 50% since. This sudden depreciation of value is partly due to the many paranormal occurrences that have happened within the home.

Ann Starrett Mansion

Ann Starrett Mansion

The Ann Starrett Mansion is a Victorian-inspired mansion that boasts more than 5,000 square-feet, eleven bedrooms, seven bathrooms, and a majestic scenic view. It was briefly turned into a boutique hotel but was quickly shut down partly due to the rumors that the mansion is haunted.

Tri-Mansion

Tri-Mansion

True to its name, the tri-mansion is literally three mansions in one! It has the mansion proper, an apartment, and a guesthouse. It also is located in a prime location in Dallas which is minutes away from downtown. Dallas also has fairly low property tax guidelines, so real estate people still wonder why the Tri-Mansion has been up in the market since 2019.

$10 New Jersey Mansion

$10 New Jersey Mansion

Yes, you read that right. This New Jersey Mansion is priced at $10 currently. The catch? Once you buy the mansion, you must relocate the mansion by physically moving the house because an approved subdivision is built within the area.

Schweppe Mansion 

Schweppe Mansion 

The Mayflower Place or the Schweppe Mansion was a wedding present for Laura Schweppe, the daughter of a prominent businessman. The place was mainly used to entertain royal visitors from Sweden and England. 

French Provincial Castle

French Provincial Castle

The French Provincial Castle is a fairy tale princess dream come true! Located in the Bronx, New York, it has turrets, a lush garden, and oak floors. It is priced at more than $3 million and has been in and out of the market since 2009.

Nightlife Nest

Nightlife Nest

This Connecticut mansion features all the accoutrements you’d expect from a mansion: a home theater, a hot tub, an indoor pool, a… nightclub? Yup, the so-called nightlife nest features a full-scale, fully functional nightclub. Given that the cost of the home has gone down 60% in the last decade, it seems like their *shockingly*
isn’t the much demand for an in-home club.

Historic New Jersey Home

Historic New Jersey Home

This historic New Jersey mansion looks like it’s worth a ton from the outside. However there are two major factors going against it. First off, the home itself is in desperate need of renovation and full of asbestos and lead paint. However, the house can’t be renovated or torn down since it’s listed as a Historic Landmark. On top of that, the land immediately around the house has been zoned for 8 more homes.

The “Watcher’s” Mansion

The

This home would sell for millions under normal circumstances. So, why hasn’t it? The Watcher…

What’s The Watcher you ask? The Watcher is the self-appointed name of an anonymous letter-writer who sends strange correspondence to anyone who lives in the house. The letter-writer’s “ancestors” were allegedly caretakers in the 1920s and 1960s, and they’re somewhat “overprotective” of the home, to the point where many buyers simply skip it all together.

Billy Joel’s Palm Beach Mansion

Billy Joel's Palm Beach Mansion

There’s nothing blatantly wrong with the Piano Man’s Palm Beach mansion. However, the 10,000 square foot, eight bedroom home simply hasn’t moved in the six years it’s been on the market.  The price has dropped several times, currently sitting at $9 million cheaper than its initial asking price. The singer has even offered to include the furniture!

Joe Pesci’s Hall of Justice

Joe Pesci's Hall of Justice

Joe Pesci’s Jersey Shore mansion sits on a highly desirable piece of property. So, why hasn’t it sold for its $6 million asking price? Well, probably because it looks like the Justice League’s Hall of Justice or another alien/comic book spaceship was dropped into the middle of a completely unrelated neighborhood.

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