March 3, 2008

Tommy Lee purchase price revealed; rocker paid $5.85M for his house in Calabasas, CA, which was $100K above its asking price

Public records have cleared on the purchase price paid recently by Motley Crue's Tommy Lee for a 8,841-square-foot house in Calabasas, Calif., and they reveal that the aging rocker paid $5,850,000 for the house, or $100,000 above its asking price -- a clearly unusual thing in this slowing residential real-estate market.

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In a Big Time Listings exclusive, we can report on the amount that Lee, 45, paid on July 6 for the house, at 24359 La Masina Court in Calabasas. We wrote about Lee's new house on September 7, several weeks after our friends over at the Real Estalker broke the story of his purchase.

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We initially had speculated that the purchase price might have been $5,350,000, since we initially had known that he had taken out a $4,280,000 mortgage, and a mortgage of 80 percent of a purchase price -- common in celebrity real estate -- would have implied a $5,350,000 purchase price. Now, we know that that wasn't the case; the $5,850,000 actual amount indicates that Lee's down payment represented about 27 percent of the house's purchase price.

Built in 1987, Lee's new six-bedroom house was remodeled in 2005 and has a 3,000-square-foot underground garage with space for 12 cars, seven and a half baths, a three-story atrium, an indoor koi pond, walnut and travertine floors, granite slabs, copper doors, etched glass, wrought iron accents, and beamed ceilings, according to listing information. The house sits on a 0.67-acre lot.

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