Tom And Katie Buy Up NYC

While some folks are currently questioning whether real estate is a good investment, Tom Cruise and Katie Holmes seem determined to expand their holdings. The New York Post reports that the famous pair have gone on a multi-million-dollar buying spree in hip Union Square. Tom’s owned a flat on East 13th St. since 1985 (or two wives ago) and now he’s snapped up three more lofts in the same building for a cool $14.4 million.

Will the proximity to such a celebrated family draw more buyers to the area? Real estate maven Barbara Corcoran doesn’t think so. “There’s that sense that he’s a bit odd. I don’t think you’re going to see a ton of people clamoring to move next door.”

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