Kelsey Grammer, real estate tycoon
Kelsey Grammer, however, is an exception to the rule that celebrities can't manage money. Over the years, he's been quite the speculator. Here's a look inside one property Sotheby's is selling for the Frasier star:
As Big Time Listings notes, this is the latest in a string of lucrative transactions carried out by Grammer, many through his Fossil II Trust. A few recent successes:
- Kelsey's home ("primary residence") in Malibu was purchased for $4.5 million in 1998 and is now worth over $7 million according to Zillow.
- The Bridgehampton home at 7 Morgan Way shown above was purchased for $8.5 million in early 2006, and is being listed at $16 million -- wow.
- In 2004, he paid $17.5 million for an enormous mansion in Beverly Hills, at 80 Beverly Park Lane, selling it in 2006 for $22 million. According to Zillow's photos (which may or may not be current), the property is now being renovated -- and is only worth $18 million. Nice timing, Kelsey!