A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
When actor and entrepreneur Mark Wahlberg sold his Beverly Hills mansion in 2023 for $55 million, many brokers said the price was low.
Wahlberg had listed the 30,500-square-foot home for $87.5 million but slashed the price in order to close before Los Angeles’ looming mansion tax took effect.
Perhaps he should have waited.
Wahlberg’s home was the most expensive sale in June, flipped for $63 million, giving the sellers a profit even after accounting for LA’s mansion tax. The buyers this time around: Paris Hilton and her husband, Carter Reum, whose Malibu home was destroyed in the wildfires.
