As Justin Timberlake faced media turmoil following his drunk driving arrest in the Hamptons, the singer quietly completed a lucrative real estate deal, revealed The Sun. In fact, he sold a property of nearly 51 hectares located near Nashville for 8 million dollars (around 7.3 million euros).
This sale comes against a backdrop of a booming real estate market in Nashville. The city attracts many newcomers from major American cities, and real estate prices are soaring. Justin Timberlake purchased the land in 2015 for 4 million dollars (around 3.7 million euros), half the price at which he just sold it.
Justin Timberlake has sold a protected and recreational property
The property sold by Justin Timberlake is located on the outskirts of the village of Leiper’s Fork, Tennessee. Covering an area of approximately 51 hectares, it is renowned for its beauty and preserved character.. According to the real estate listing, there is a spring-fed fishing pond, miles of hiking trails, pastures, streams and areas suitable for hunting. The land also benefits from protection against real estate development, thus guaranteeing the conservation of its natural environment.
Justin Timberlake was known for his involvement in local life in Leiper’s Fork. He would have participated in numerous events and would even have been associated with businesses in the village, such as the Pilgrimage Music and Cultural Festival, a music and culture festival very popular in the region.. When he acquired the land in 2015, the singer purchased it from a local philanthropist and conservationist. The latter also declared to the Tennessean in 2017: “We both share a love of Tennessee and the great outdoors where we grew up.“.
A profitable investment to say the least
Although the final sale price is lower than the $10 million (around €9.1 million) initially hoped for by Justin Timberlake, the transaction remains largely positive for the singer. He has in fact made a capital gain of 4 million dollars (around 3.7 million euros) in just a few years. This sale also illustrates the strong demand that currently exists for large lots located near Nashville.
This successful real estate transaction comes at a delicate time for Justin Timberlake on a personal level.
His arrest for drunk driving tarnished his image and certainly had an impact on his career. The sale of his property in Leiper’s Fork, however, allowed him to raise a significant amount of money and bounce back financially. It remains to be seen whether this real estate windfall will be enough to calm the media turmoil in which he currently finds himself.
