Madonna $32 million New York Mansion

July 06, 2009 - New York

Madonna has taken advantage of the credit crunch - by negotiating a US$7.5 million price cut on her new Manhattan townhouse, the NY Times reports.

The singer was reported to have splashed out US$40 million on the georgian-style mansion in the posh Upper East Side area of New York.

But now real estate insiders have revealed that Madonna drove a hard bargain - and landed the property for just US$32.5 million.

With 57 feet of street frontage, her new mansion is one of the widest town houses in Manhattan, combining what appear to have once been three separate town houses.

According to the listing, the house has 26 rooms, including a 38-foot-wide drawing room and 13 bedrooms.

There are 9 fireplaces, 11-foot ceilings and, in the rear, a 3,000-square-foot garden.

If the house isn't big enough, its size can be doubled under current zoning, and unlike those precious buildings on Fifth Avenue, it is situated beyond the purview of the New York City Landmarks Preservation Commission.

Source: Nytimes

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