Public records have cleared on the 2,274-square-foot town home in Los Angeles' Century City area that singer Lionel Richie purchased for his daughter Nicole Richie and her rocker boyfriend Joel Madden, and they reveal that Lionel paid $1,200,000 for the town home.

 

In a Big Time Listings exclusive, we can report the purchase price for the town home, which had been listed at 2300 Century Hl in Century City. As we noted on Aug. 23, the Aug. 27 National Enquirer broke the news that Lionel had purchased the town home from actor Dennis Franz. Public records showed that the deal closed on June 27 and was recorded on July 24. We also had noted at that time that we highly had doubted the Enquirer's characterization of the town home as a '$2 million town house,' particularly since it had been listed for $1,395,000.

Built in 1980, the town home was purchased by Franz in 2003 for $715,000, according to public records.

It's unclear if Nicole and Joel, who are expecting a child, are now living in the Century City town home, or if they have any intention to. As we previously have noted, Nicole owns a 2,246-square-foot, 10th-floor unit in the Empire West building at 1100 N. Alta Loma Road in West Hollywood, Calif., which she purchased in early 2005 through her CNR Trust for $1,180,000. She and Joel also have been rumored to have been looking at units in downtown Manhattan, although that has been reported to be far more at the urging of Joel than of Nicole, who has been reported to prefer instead to remain in the Los Angeles area.