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Justin Timberlake sells 127-acre property in Nashville area

Justin Timberlake sells 127-acre property in Nashville area

Justin Timberlake has just capitalized on the rapid rise in real estate prices in Nashville, Tennessee, by selling a nearly 51-acre property on the outskirts of the city.

Timberlake, 43, said “bye bye bye” to the property in late May, selling it for $8 million. That’s less than the $10 million price he asked for when listing it last summer, but still double the $4 million he bought it for in 2015, records show. The deal was finalized a few weeks before the singer was arrested for drunken driving in the Hamptons.

More: John Denver’s former Colorado music studio – now a home – sells for $8.5 million

Million-dollar real estate sales have boomed in Nashville in recent years, fueled by an influx of newcomers from cities like Los Angeles. The median sales price for a luxury home in Nashville was nearly $1.7 million in the first quarter of this year, representing a year-over-year increase of more than 8 percent, according to the latest figures from Redfin.

The former ‘N Sync star and Tennessee native used a trust for the purchase, with an accountant — also associated with other Timberlake ventures — listed as the trustee. The trustee did not respond to a request for comment. The new owner is listed in the filings as a limited liability company.

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The property, which is reportedly protected from development, is on the outskirts of the village of Leiper’s Fork, where Timberlake has reportedly been involved in a number of local events and businesses over the years, including the Pilgrimage Music and Cultural Festival.

The 126.63-acre land is home to a spring-fed fishing pond, miles of hiking trails, pastures, spring-fed streams and hunting opportunities, according to the listing by Tom Sullivan of Covey Rise Properties, who did not respond to a request for comment.

Timberlake purchased the property from a local philanthropist and preservationist who told the Tennessean in 2017, “We both share a love of Tennessee and enjoyed growing up on this land.”

A representative for Timberlake could not be reached for comment.

The US Sun first reported the news.