Feb. 24, 2012 at 8:44 AM ET
What's up in the world of celebrity real estate? Oprah -- or buddy Gayle King -- is selling a modern penthouse, and Patricia Arquette sold her home for a loss.
In the world of celebrity real estate, stars buy homes through trusts in LLCs in an effort to cut the paper trail leading to their name.
Despite their best efforts, it's possible to figure out who the real owner of a mansion or penthouse is with a little sleuthing.
Such is the case with a posh Manhattan penthouse for sale. In 2008, it was reported that former news anchor and Oprah Winfrey's best bud Gayle King bought a 3-bedroom, 3.5-bath apartment in the new Midtown tower Place 57.
After all was said and done, it appeared that the home was not purchased by King, but by the talk show diva herself for $7.1 million.
Who actually lived there is up for debate, but as for now, the penthouse is for sale for $7.9 million and appears to be vacant.
Finished in 2006, Place 57 has condos from $1.47 million to $7-plus million. Oprah's penthouse sits on the 36th floor and features 2,530 square feet of wall-to-ceiling windowed space as well as a 768-square-foot terrace.
The modern space features a "triangle-shaped" living room, high-end kitchen, dining area, and two bedrooms, one with an attached bathroom. The master suite has three walk-in closets, a jetted tub and sleek shower.
Read more about Oprah's penthouse and see more photos here.
Celebrity real estate, like regular real estate, usually hits the market in the aftermath of divorce proceedings.
Patricia Arquette and former husband Thomas Jane listed their home for sale in Mid-Wilshire, Los Angeles after they announced their divorce. First listed on the market in June 2011, Arquette's home recently sold for $2.775 million — 20 percent less than the original asking price, according to the Real Estalker.
Arquette, best known for her role in TV's "Medium," which aired 2005 through 2011, purchased the vine-covered home in 2003 with Jane for $2.25 million. Arquette and Jane — of TV series "Hung" — were married in 2006, they divorced in late 2010.
Built in 1929, Arquette's former home is a stucco "Rennaisance Revival" home covered in vines and filled with 1920s details. The 4-bedroom, 5-bath home has hand-painted ceilings and stained glass windows as well as chef's kitchen with inlaid limestone tile. Situated on a one-third acre lot, the home also has a pool and outdoor living area with barbeque.
See more photos of Patricia Arquette's former home here.