Foreign Property News | Posted by Aye Myat Thu
A Caribbean home owned by Prince—which has a driveway and a movie theater in his signature purple—has sold for $10.8 million.
Located at the tip of a peninsula of Providenciales in Turks and Caicos, the property had been on the market for a couple of years.
It was scheduled to be auctioned last year, but ultimately was not sold.
It was most recently listed in December 2018 for $11.8 million.
Totaling nearly 6 acres, the beachfront property’s main house is almost 10,000 square feet and comes with six bedrooms, a 200-foot hardwood dock, a tennis court, a staff gatehouse and multiple cabanas.
The driveway is stained purple concrete, and the home theater is lined in purple velour.
Prince purchased the original property around 2011, and added two adjacent parcels over about a year, according to listing agent Nina Siegenthaler of Turks and Caicos Sotheby’s International Realty.
Ms. Siegenthaler said Prince made additional changes to the home, knocking down walls to make the space more open plan.
The buyer is Tom Barnes, chief executive of 319 Capital Partners, a private equity and investment firm based in North Carolina. He said it was a "bonus" that the artist had owned the property.
"I can remember myself back in 10th grade listening to ‘1999’," Mr. Barnes said, referring to the Prince album. "If I could go back and tell that 10th grader that some day he’d buy Prince’s house, his head would probably explode."
Mr. Barnes said he and his family had enjoyed vacationing in Turks and Caicos for many years, and wanted to have a compound large enough to host large gatherings of extended family.
He said he would rent the property, which he has dubbed Emara, when he’s not there.
Ref: Property Report
