Madonna is famous for her expensive taste and  savvy business mindset, but did she make a mistake in her latest real estate investment? The tabloids and blogs were ablaze this week with news of Madge’s $40 million purchase of an Upper East Side townhouse — which is actually two townhouses put together — located at 152 East 81st Street, New York NY 10028 and 156 East 81st Street, New York, NY 10028.

The home sale is said to be the most expensive in neighborhood history, but still $5 million shy of the original asking price of $45 million. The property is said to be near the noisy Lexington Avenue subway line, and the train can supposedly be felt vibrating the foundation as it passes underneath.

Critics aside, the urban pad has quite a resume of home frills and the Sotheby’s listing hints at the feel of a London townhouse, which could be the appeal for the Material Girl. The laundry list includes: 12,000 sq ft, 13 bedrooms and 14 bathrooms, two-car garage, 3,000 sq ft garden, nine fireplaces, wine cellar with a grotto, and an elevator.

A nugget of humor in this Madonna real estate  mayhem is New York City Mayor Bloomberg’s response to the news. According to the New York Post, when Bloomberg was asked whether he’d send Madonna a thank you note for buying a new place – a boost to the city’s sagging revenues – he said, “No. But we do plan to send her a bill.”

Hilarious. Clearly Bloomberg isn’t star struck by the multitude of celebs (such as Brangelina) shopping for big ticket real estate in the Big Apple.

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Update: Christopher Plummer's Former Estate Sold for $11.2M

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