Madonna Sells Beverly Hills Home for $20 Million

The "Hard Candy" pop diva, Madonna has reportedly sold her Beverly Hills home for $20 million. The residence debuted on the market with a $22.5 million asking price.

Madonna was previously searching for a buyer privately. She was apparently hoping to sell it for $28 million. However, failing to find a suitable buyer, she listed it on the Multiple Listing Service for $22.5 million in January.

TMZ broke news of the sale. According to the gossip website, Madonna hired real estate guru Kurt Rappaport to handle the deal, who closed on the sale helping 'Madge' earn a $8 million profit.

The 'La Isla Bonita' crooner purchased the Beverly Hills mansion in 2003 for around $12 million when she married director, Guy Richie.

The home is a multi-winged facility spread across an area of 17,000 square feet. The home comprises of 9 plush bedrooms and 15 bathrooms. The home sports a French-country fashioned look. The residence has two living rooms and offices. In addition to the double dining/family rooms, the house also has an art studio, a screening room and a modern open kitchen with a breakfast bar. A state-of-the-art gym and a huge screening room are also part of the luxurious amenities of the mansion.

A resort-like infinity pool and an open tennis court are also some of the other features. There is a separate garage and also a guest house. The private residence is a well maintained property with a cabana adjacent to the place.

Check out some pictures of the home, here.

More recently, Madonna sold her Upper West Side duplex condo for a little discount to a New York City hedge fund manager, Deepak Narula. She also owns several properties in London and New York.

The 'Material Girl' is currently in Toronto where she is gearing up for the opening of Hard Candy Fitness, a chain of fitness centers started as a joint venture by Madonna, her manager Guy Oseary and New Evolution Ventures.

According to the press release:

This full-scale club will exude the brand's signature modern style with high-end amenities, extensive cardio, functional strength and personal training spaces, state-of-the-art equipment, saunas, steam rooms, custom juice bar and an all-around rooftop terrace. Hard Candy Fitness Toronto members will benefit from unique group fitness programming with studios for everything from cycling and Pilates to yoga and cardio-dance - including Hard Candy Fitness' signature Addicted to Sweat workouts. Madonna and her long-time personal trainer, Nicole Winhoffer were directly involved in the selection of each Addicted to Sweat instructors at the Toronto location.

Hard Candy Fitness has branches in several branches in areas that include Rome, Berlin, Santiago, Sydney etc and is a fast growing chain of fitness centres, reports Global News.