Celebrities Seek Secrecy in Real Estate Dealings

The desire of celebrities to keep their real estate transactions private in a celebrity-obsessed nation is nothing new, but it’s never exactly been an easy thing for them to do.

 

Realtors who work in celebrity real estate report that they are often asked to sign a letter of confidentiality before they can represent the stars in their dealings, and there have even been cases of real estate agents reporting that they had to whisk their famous clients away in the dead of the night to view their prospective properties in secret.

Many celebs, and this is especially true for Manhattan, are taking to buying property anonymously under the cover of limited liability companies or trusts, says the New York Times.

One prime example is the actress Jennifer Aniston, who is said to have recently bought a $4.95 million penthouse in West Village in New York City, reportedly in the name of her dead dog.

 

According to reports, Aniston has a trust fund setup in the dead dog’s name. It was also reported that Jennifer Aniston’s ‘dog’s trust’ paid an additional $2 million to purchase a one bedroom apartment below the penthouse suite.

The trend is given credence by Frances Katzen of the Prudential Douglas Elliman firm, who says “More and more celebrities are showing an interest in buying real estate using some kind of investment vehicle.”

Interestingly, the trend is not just restricted to celebrities. More and more Wall Street traders, who have come under intense scrutiny during these tough economic times, are also seeking ways to keep their real estate dealings as secret as well.