Summary
After nearly a year on the market, Nicole Richie and Joel Madden have officially sold their luxurious Beverly Hills château—but not without taking a $2 million hit from their original asking price.
The couple initially listed the home for $12.95 million but ultimately closed the deal on May 30, 2024, for $10.18 million, just $33,985 above what they paid in 2021.
A Lavish Home with Parisian Flair
Purchased for $10.15 million three years ago, the five-bedroom, six-and-a-half-bath estate blends Old World elegance with modern luxury.
The property, originally built in 1987, underwent a stunning SIMO Design renovation before Richie and Madden moved in. Key features include:
Interior Highlights
✔ Grand two-story foyer with a curved staircase and arched windows
✔ Lime-washed walls, dark oak floors, and marble accents throughout
✔ Custom plaster-and-limestone table at the staircase base (a standout piece featured in Architectural Digest)
✔ Two spacious family rooms—one designed for an L-shaped sofa, the other ideal for a home theater
✔ Gourmet kitchen with Calacatta Corchia marble countertops, double ovens, and sliding glass doors leading to a patio shaded by olive trees
✔ Primary suite with a fireplace, sitting area, and marble ensuite bathroom
Outdoor Oasis
🌿 Pool and spa surrounded by manicured hedges
🌿 Multiple terraces for al fresco dining and entertaining
🌿 Three-car garage with custom cabinetry and storage
Despite the high-end finishes, the home lingered on the market, forcing the couple to slash the price by $1 million in July 2024 before securing a buyer.
Why Did It Take So Long to Sell?
🔹 Cooling Luxury Market – High-end real estate in Beverly Hills has seen slower sales amid rising interest rates.
🔹 Niche Aesthetic – The home’s Parisian-inspired design, while stunning, may not appeal to all buyers.
🔹 Pricing Strategy – The initial $12.95 million ask was ambitious, given the couple’s $10.15 million purchase price just three years prior.
Nicole Richie & Joel Madden’s Real Estate Portfolio
The couple still owns properties in:
🏡 Los Angeles (their primary residence)
🏡 Sydney, Australia
With a combined net worth of $80 million, they’re far from strapped for cash—but this sale marks the end of their Beverly Hills era.
What’s Next for the Power Couple?
💡 Nicole Richie continues to expand her House of Harlow fashion brand and recently appeared in Amazon’s Paper Girls.
💡 Joel Madden remains active with Good Charlotte and his side project, The Madden Brothers, with twin brother Benji Madden (who’s married to Cameron Diaz).
Final Takeaway
While they didn’t score a massive profit, Richie and Madden walked away with a slight gain—proving that even in a challenging luxury market, well-designed homes still attract buyers.