There may be a very simple reason that Madonna has yet to close on a townhouse for her highly anticipated return to the Big Apple: Her bids are too low.
The Queen of Pop has been drastically underbidding on some of the city’s most luxurious properties, according to a broker who represents a number of high-end listings in the city.
The most notable bid to date, according to the broker, was for 8 East 62nd Street. Madonna reportedly offered $25 million for the famed John Duncan Mansion. That is quite the celebrity discount, as the 14,700-square-foot property is currently listed for $35 million.
This is the mansion that Madonna had “fallen for” in March, according to the New York Post. The six-floor townhouse has seven bedrooms, 10 bathrooms, three kitchens, a gym with a sauna, and a garden.
Perhaps the bargain-hunting makes sense. The Material Girl did only make $175 million last year, according to Billboard magazine.