It looks like Prince’s Paisley Park Estate located in Chanhassen, Minnesota may soon be up for purchase.
According to the New York Daily News, court documents reveal that the late singers property is ready to be sold by his bank, along with other properties.
The 60,000 square-foot estate where Prince passed away, housed many of the late singer’s music with a state of the art recording studio, rehearsal space and a room full of memorabilia.
The property is estimated to be worth nearly $7 million, while his other properties are totaled to be more than $21 million.
A trust officer from Prince’s bank said in a statement the estate must “immediately begin to list and market” Prince’s real estate holdings to “take advantage of the current market.”
Trust officer Alison said the continued maintenance and repairs of the estate would be too costly to maintain. The sales from the property would be enough to pay estimated estate and income tax liabilities and estate administration bills.
Weeks following Prince’s death his half brother, Alfred Jackson talked about the possibility of turning the estate into a museum to honor him. His lawyer Frank Weaton said, “We were given a tour of every inch of that 55,000-square-foot palace. It is museum-like in a great many ways. But it’s out of my area to speculate on what might happen.”
His family is of course trying to prevent the estate from being sold.
Roommates what are your thoughts?
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