December 05, 2016  

Aerosmith's Joey Kramer Suffers Massive Loss From Property Selling

March 6, 2010 (4:08 am) GMT
The Aerosmith's drummer who puts his home in Massachusetts on market is left with a massive 27 per cent loss from the property selling.

's drummer Joey Kramer has made a massive 27 per cent loss on the recent sale of his home in Massachusetts. The 59-year-old percussionist bought two houses and knocked them together in 2003, but put the mega-mansion on the market in 2008 after he split from his wife, April.

After 19 months, the property has finally sold for $2.7 million - significantly less than the original $5 million asking price. The house boasts four bedrooms, a swimming pool and a recording studio, as well as a guesthouse and three stand-alone garages, which Kramer used to house his car collection.

Another musician who is forced to sell his property in low price is ' rocker Ronnie Wood. Wood has been forced to slash the price of his London mansion by $2.3 million. The rocker initially purchased her home for $11.6 million less than two years ago but had to put it on market for $9.3 million.

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