Celebrities making multi million dollar deals on real estate despite crisis

Media has recently reported some multimillion dollar real estate deals made by stars in New York City. The celebs list is quite extensive and includes Madonna, Scarlett, Bono, Sting, Jennifer Connelly, Jon Bon Jovi and many others. Despite the real estate crisis and the high number of foreclosures in New York City, luxurious properties are still on high demand. The luxurious highly priced homes are being sold for as high as $5.6 million dollars, such as the Carol Burnett apartment in the Trump International condo tower that was recently sold. Bono has sold his apartment in Central Park West for $4.9 million and Scarlet Johansson sold her apartment for nearly $1.9 million.

The luxurious homes market is achieving more and more young buyers, that often pays in cash and are the 'new riches'. Often large business executives that achieved their success not a long time ago.