While she's looking for bigger digs on South Beach, Beyoncé took a beating from the real estate market on a small Miami Beach condo she purchased in 2002. Back then, Bey bought the 190-square-foot cabana (which, according to TMZ, she basically used as a private changing room on the beach) for $465,000 and recently unloaded it for $110,000. Ouch!
We doubt Bey will be losing any sleep over the lost pocket change, but can't help but wonder why the need to sell during this down market. She's not the only celebrity to fall victim to the real estate plunge — Chris Tucker and Terrell Owens also recently took hits — but she's certainly still the richest.
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