MADONNA DRIVES HARD BARGAIN TO GET NEW HOME

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John Lennon

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Madonna drives hard bargain to get new home

June 28, 2009

Madonna has taken advantage of the credit crunch - by negotiating a US$7.5 million price cut on her new Manhattan townhouse, it has been claimed.

The singer was reported to have splashed out US$40 million on the 'London-style' mansion in the posh Upper East Side area of New York.

But now real estate insiders have revealed that the Material Girl star drove a hard bargain - and landed the property for just US$32.5 million.

A US newspaper reports: "It turned out [she]... had not lost her street smarts.

"She actually received a significant discount."

They say "brokers briefed on the transaction" were surprised at the bargain price.

Madge, 50, is expected to return to New York this week with newly adopted Malawian toddler, Mercy James.

Friends of the singer said in April - when the deal went to contract - that the four-storey, 57ft-wide, 13-bedroom Georgian-style home with 3,000sq-ft garden was "perfect" for her.

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