Ellen DeGeneres just unloaded her second condo in a posh L.A. building, but the sale offers more proof that condos are the red-headed stepchildren in the Southern California housing market.
Ellen sold half a floor in the Beverly West condo complex in West L.A. She's pocketing $5,850,000 which sounds great, but here's the rub. She owned the entire floor, and she previously sold the other half for $6 million.
Real estate sources tell TMZ she bought the floor for $13 million, so after commissions and renovations ... she's underwater.
Ellen, who's repped by real estate guru Kurt Rappaport, still has a swanky home in Beverly Hills. She buys and sells lots of property and usually turns a big profit, so this is all part of the game.