Sylvester Stallone Signs $24.95 Million Home Deal

Sylvester Stallone is in contract to buy an eight-bedroom, nine-bathroom mansion in East Hampton for $24.95 million, intended as a gift for his three daughters, Sophia, Sistine, and Scarlet. The newly built property, which spans over 11,600 square feet on 1.1 acres, has been designed by James Michael Howard and features high-end finishes and furnishings. Stallone made the all-cash offer after viewing the home through video tours and has not yet seen it in person. The luxurious estate includes a great room, chef's kitchen, multiple fireplaces, a cinema, and outdoor amenities such as a heated pool and cabana. This purchase marks Stallone's latest real estate move, as he currently resides in a $35 million mansion in Palm Beach. The sale has not yet closed, leaving some details of the transaction pending.