The cost of purchasing famous TV and movie theaters

There are a range of characterful homes for sale – and buyers are sure to pay extra for these proportions.

However, that premium is difficult to determine since some wealthy buyers will pay almost anything to own a piece of pop culture, according to real estate experts.

“It's like owning a Picasso painting” or a Fabergé egg, said Tomer Friedman, a Los Angeles-based real estate agent who specializes in luxury homes and celebrities.

“You're buying something very unique and very rare,” he said.

Among the latest listings: The Victorian home depicted in the sitcom “Full House” went on the market Thursday in San Francisco for $6.5 million. Last month, “Home Alone,” the brick home made famous by Kevin McAllister’s character, was listed for $5.25 million.

John Lennon and Yoko Ono's first New York City home, a two-story loft in SoHo, also hit the market for $5.5 million in May. The Los Angeles home of the late Paul Reubens, best known for his character Pee-Wee Herman, is on the market for about $5 million.

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Luxury real estate prices have recently reached a record high. According to real estate experts, wealthy people are largely insulated from high mortgage rates since many of them can afford to make all-cash deals.

These experts said that popular homes generally command higher prices than their counterparts on the market.

Josh Altman, a Los Angeles luxury real estate agent who has appeared on the Bravo show “Million Dollar Listing,” estimates that the premium could be as high as 5% to 10% if the home is linked to a celebrity.

“There's definitely a Hollywood vibe of, 'I bought so-and-so's house.'” Altman said, and his company's clients have included stars like Justin Bieber, James Cameron, Alicia Keys and Britney Spears.

He added that “Home Alone” is “one of the most famous films of all time.” “This will definitely get a raise, in my opinion.”

Friedman, who has sold properties owned by celebrities including Marilyn Monroe, Sylvester Stallone, Kylie Jenner and Travis Scott, said the final price of such homes generally does not matter to wealthy buyers.

Many people view the home as an antique and make an emotional purchase, Friedman said.

Sellers can command a premium on a particular popular property through a high initial asking price or if potential buyers get into a bidding war, experts said.

“They're one of one,” said Amanda Pendleton, Zillow's home trends expert. “Some people with means will pay whatever it takes to own this house.”

The “Home Alone” real estate listing, outside of Chicago, leans into its collector's status, highlighting the “rare opportunity to own one of the most iconic movie theaters in American popular culture.”

An offer is pending on this home and was made within a week of it being on the market, said Andrea Gillespie, a spokesman for Coldwell Banker Real Estate. The sellers' asking price is more than three times the $1.585 million they paid in 2012.

The listing of John Lennon and Yoko Ono's residence – the first time it has been sold in 53 years – also highlights the fame of its former occupants.

“Anywhere they live is going to have some sort of value,” Philip Norman, author of the biography John Lennon: A Life, told the New York Times.

Buyers of the “Full House” home have the option to have handprints in the concrete stones of members of the show’s cast, including Bob Saget and John Stamos, Architectural Digest reports.

Shame can also bring a higher price, said Arto Bouladian, a Redfin luxury real estate agent in Los Angeles.

In 2021, Bouladian sold the so-called LaBianca House — the house where Charles Manson followers killed Leno and Rosemary LaBianca in 1969 — for $1.875 million.

“The property’s notoriety generated interest and attracted more potential buyers — and ultimately with that interest you get a slightly higher premium than without it,” Bouladian said.

The listing was aimed at buyers such as “history buffs” or those who wanted to “add their touch to reimagine one of Los Angeles' most distinctive properties.”

Sometimes, even being close to a famous residence can help, he added. For example, in 2018, he sold the house next door to the one used to film the original movie “The Karate Kid.”

“Any type of famous home — or a home next to a famous home — will attract interest from potential buyers and people who look like a mess,” he said.

“Sometimes there's a cap on what superfans are willing to pay,” Pendleton said.

She cited the “Brady Bunch” house as an example: A Studio City, California, house — which was remodeled to look identical to the house in the TV series — sold for about $3.2 million in 2023 after months on the market; It is listed for $5.5 million.

Pendleton said the publicity associated with some properties would likely be a “turn-off” to some potential buyers.

Likewise, a star's home won't have as much quality if it's not updated and move-in ready, Bouladian said.

For example, Kanye West – the rapper now known as Yee – bought a massive mansion in Malibu, California for $57.3 million in 2021. However, he struggled to sell the house, which he gutted and left in disrepair; He listed the home last year for $53 million but recently lowered the price to $39 million. (A contractor also filed a lawsuit against West in January and a lien was placed on the property, which could complicate the sale.)

“Kanye West can't give up his house in Malibu,” said Altman, the Los Angeles real estate agent.

Ultimately, though, the value of a home—whether it's a sprawling, famous estate or an ordinary home—is in the eye of the beholder.

“At the end of the day, a home is worth whatever a person is willing to pay for it,” Pendleton said.