Is Mariah Carey laden with debt? Rumors swirl as she plans to sell one of her prized property in New York

Mariah Carey has put her luxury penthouse in Manhattan’s Tribeca area up for sale for $27 million. This is the first time the property has been listed since she bought and combined it in 1999 for around $9 million, the report said. The sale has raised questions because public records show about $18.6 million in loans linked to the property.

The penthouse spreads across three floors of the building at 90 Franklin Street and covers about 12,728 square feet, the listing details said. The home includes 360-degree views from the Hudson River to the Manhattan skyline and about 1,100 square feet of private outdoor space, as New York Post. If she sells it close to the asking price, she could make a large profit compared to her original investment. The listing describes the property as a “one-of-a-kind opportunity” and says the floors can be used together or separately.

Former home status

The property is described as her “former” residence, though records show she still owns it. Brokers led by Emily Beare from Core did not immediately respond to requests for comment, and Carey’s representative also did not comment. Photos in the listing still show decorative details like painted ceilings and Moroccan-style terrace arches.

Carey created the penthouse by buying two separate units and combining them into one large home. She moved to this property after being rejected by a co-op board at another building where she tried to buy Barbra Streisand’s former penthouse. In June 1999, she signed contracts for a $5.5 million duplex and a $3.5 million unit below it, as stated by New York Post. She hired interior designer Mario Buatta to redesign the space into a glamorous style.

Luxury interior details

The home was designed with art deco inspiration and many butterfly-themed decorations, Buatta earlier told Architectural Digest. The design included silver-leaf doors, limestone floors with bronze, lacquered peach walls, and a 38-foot main bathroom. The media room even had an aquarium and murals to look like an underwater cinema. A white baby grand piano once owned by Marilyn Monroe was also placed in the living area. The apartment appeared in a 2002 episode of MTV Cribs, where Carey said every room was her favorite.

In November 2022, she opened the home for a holiday promotion with Booking.com, inviting fans for a Christmas-themed experience. Behind the luxury, records show she borrowed money against the property over many years through Franklin Views LLC, the report said. She took an $8 million loan from JPMorgan Chase in 2009, according to public records. She added another $2.6 million loan from City National Bank in 2015, records showed, as noted by New York Post.

Debt and spending rumors

In 2016, she refinanced the JPMorgan loan to $17.6 million and reportedly took about $9.6 million in cash. By April 2018, the loan amount increased again to $18.6 million. The City National loan has been paid off, but the JPMorgan balance still remains.

In May 2023, Carey also sold a nine-bedroom Atlanta mansion for $3.92 million, which was about $1.73 million less than what she paid, as cited by New York Post. Rumors about her high spending have circulated for years, with estimates as high as $1 million per month. Her ex-husband Nick Cannon said in 2022 that it costs $150,000 to $200,000 for her just to leave the house.

FAQs

Q1. Why is Mariah Carey selling her New York penthouse?

She listed the property for $27 million while reports say there are loans tied to the home, raising questions about her finances.

Q2. How much debt is linked to Mariah Carey’s Tribeca penthouse?

Public records show about $18.6 million in loans connected to the property.