The Post has confirmed that Adele took out a mortgage for $37.7 M in order to fund the own of the Beverly Hills mansion that she owned from Sylvester Stallone for $58 M.
The document, which was acquired by The Post, reveals that the singer known for her song”Easy on Me” secured the sizable loan from City National Bank on January 10, 2022, more than a month before she closed on the own of the property.
Adele, who is now 34 years old, has the customary amount of time, which is 30 years, to repay the loan.
According to the deed, “Borrower has promised to pay this debt in regular periodic payments and to pay the debt in full not later than March 1, 2052,”
But the “Rolling in the Deep” singer won’t have any trouble paying it off if her Las Vegas residency at the Colosseum in Caesars Palace resumes on schedule in November as originally planned after being postponed.
Considering that the residency is expected to last for three months, this would indicate that she would earn at least $48 M in such a short period of time.
In the meantime, the Grammy winner of 15 awards made the announcement in May via an Instagram post that her partner of a couple of years, Rich Paul, had moved in with her.
According to the property records, the previous owner, Sylvester Stallone, who is now 76 years old, owned the land for $2.35 M in 1994 and developed the home from the ground up.
The Italian Riviera-style estate, which Sylvester Stallone termed “the house that ‘Rocky’ built,” is located on 3.5 acres and is tucked away in an exclusive guard-gated enclave in North Beverly Park. Stallone gave the home its moniker.
The property has more than 18,500 square feet of living space and contains eight bedrooms and 11 bathrooms.
According to the previous real estate offering, the Italianate house was designed by Richard Landry and comes with a variety of amenities.
Some of these amenities include a screening room, gym, cigar room, and custom bar. In addition, there is an art studio, a spa, an eight-car garage, and a pool with an infinity edge.
In addition, the residence offers breathtaking views of the city and canyon. In addition, there is a motor court, a family room, an office, and formal living and dining rooms in the home.
The entrance spans two stories. In addition to that, there is a two-story guest house on the property that has two bedrooms and a kitchen that is completely furnished.
A dual-sink bathroom, a steam room, a sauna, and an office with a terrace are all included in the major en suite bedroom.