Former Spelling mansion sells for nearly $120 million

One final brilliant point that a commenter named Derrick just made on Facebook: Petra spent $85m in 2011. Her property taxes have been $1m per year ($2m before taxes), roughly $9 million in the time that she owned the house. She also spent millions remodeling the property. Some reports say as much as $20 million, but let's say it was "only" $10 million. When you combine taxes and remodeling costs with general maintenance, staff, water bills, furniture etc… it's very likely that Petra dumped at least $30 million into the house. That brings her all-in costs to date to $115 million. She sold the house for $120 million. So a $5 million return.