A villa that’s been called “one of the most exquisite estates in the Caribbean” is headed for the real estate market.
And the buyer will own one of the former properties of Prince.
Carver County District Court Judge Kevin Eide has given Bremer Trust, which is handling Prince’s estate, permission to sell seven properties. The order issued Thursday includes a villa in the Turks and Caicos Islands.
The judge also OK’d the sale of half a dozen properties in Chanhassen. The Star Tribune reports the total value of the Minnesota properties comes to about $2 million. But the appraised value of the Turks and Caicos villa has not been made public.
10 bedrooms and two private beaches
According to the Turks and Caicos Sun, Prince paid $12 million for the mansion, which is on the main island of Providenciales.
It was an expert with Christie’s International Real Estate who told the paper the estate is one of the Caribbean’s most exquisite.
According to the Sun, the mansion sits on a peninsula and has 10 bedrooms, 10 bathrooms, two private beaches, a boat dock, and tropical gardens and trails.
It includes a guest wing and a separate three-bedroom house for the staff, the paper says.
Big tax bill coming due
Judge Eide ruled the properties can be put on the market beginning August 26. Another eight properties might be approved for sale later, after they have been appraised.
Bremer Trust clarified last week that Paisley Park – the Chanhassen home and studio where Prince died of a painkiller overdose in April – is not among the properties they hope to sell.
The judge agreed that selling the properties is a good idea given the cost of maintaining them and the need to meet the estate’s “ongoing and expected financial obligations.”
Those include a big tax bill that the Star Tribune says will be due in January. According to USA Today, federal and state taxes together could amount to as much as 55 percent of the estate’s value.