Madonna Drops $40M on NYC Townhouse

Madonna may be sending her moving van(s) to the Upper East Side of Manhattan rather than Malawi, reports the New York Post. The singer is plunking down $40 million for a Georgian-style townhouse. That’s $5 million less than the asking price, but hardly a bargain; no residence in the area “has ever sold for $20 million, let alone $30 million—or ever will again,” says one broker.

The residence may also suffer from its close proximity to the subway. But the style of the house apparently made it irresistible for the Material Girl. “She’s trying to re-create London in New York City,” said one source, “and this is in the style of a London townhouse.” Madonna has also asked designers to build a residence on a plot of land she owns in Malawi, in the hope of adopting another child there. (More Madonna stories.)