July 24, 2024
Property

Justin Timberlake Sells 127-Acre Nashville-Area Property


Justin Timberlake has just cashed in on runaway home price growth in Nashville, Tennessee, parting with an almost 127-acre swath of land on the outskirts of town.

Timberlake, 43, said “Bye Bye Bye” to the property at the end of May, selling it for $8 million. While that’s less than the $10 million asking price he’d attached to it when it listed last summer, it’s still twice as much as the $4 million he acquired it for in 2015, records show. The deal closed a couple of weeks before the singer’s DWI arrest in the Hamptons.

More: John Denver’s Former Colorado Music Studio—Now a Home—Is Selling For $8.5 Million

Multimillion-dollar home sales have been booming in the Nashville metro in recent years, driven by an influx of transplants from cities like Los Angeles. The median sale price of a luxury home around Nashville was nearly $1.7 million in the first quarter of this year, an annual increase of more than 8%, according to the latest figures from Redfin.

The former ‘N Sync star and Tennessee native used a trust for the purchase, with an accountant—who is also tied to other Timberlake ventures—listed as trustee. The trustee didn’t respond to a request for comment. The new owner is listed in records as a limited liability company. 

Advertisement – Scroll to Continue


The parcel, which is reportedly protected against development, is on the outskirts of the village of Leiper’s Fork, where Timberlake has reportedly been involved in a number of local events and businesses over the years, including the Pilgrimage Music and Cultural Festival.

Spanning 126.63 acres, the land is home to a spring fed fishing pond, miles of trails, pastures, spring creeks and hunting opportunities, according to the listing with Tom Sullivan of Covey Rise Properties, who did not respond to a request for comment. 

Timberlake bought the property from a local philanthropist and preservationist who told the Tennessean in 2017 that, “both of us share that love of Tennessee and enjoyed how we grew up, on land.” 

A representative for Timberlake couldn’t be reached for comment. 

The U.S. Sun first reported the news.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. View more
Accept
Decline