Katie Holmes spent $14 million in six months in Manhattan

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Katie Holmes is singlehandedly propping up New York City’s economy, according to Page Six. Despite a dismal real estate market and poor retail sales, Katie’s been shopping her heart out. In fact from the way it’s described, it sounds like she doesn’t have any other hobbies. Except, perhaps, running from body thetans.

As well as regularly frequenting the city’s best restaurants, Holmes is often photographed with her daughter Suri carrying purchases from some of New York’s most expensive shops. The New York Post’s Page Six magazine estimates that, mainly due to her real estate purchases, she has spent more than $14 million (£9.6 million) since being in the city.

“While ordinary city dwellers are cutting back, Mrs Cruise has been valiantly doing her bit to boost our economy,” the magazine said. “We tally up a conservative estimate of her 24-week NYC spending spree, and crown her Manhattan’s Most Valued Shopper.” Holmes has reportedly spent a reported $13,987 (£9,600) on child care and taking Suri out over the last six months

According to the publication, she and Cruise have bought three new apartments in the building where he has owned his home since 1985. A spokesperson for Cruise has denied the purchases but real estate executive Barbara Corcoran claims they bought a trio of lofts last year. The magazine says a similar, three-bedroom home on the same street is on the market for $4.8 million, (£3.3 million) and calculates that the Cruises would have spent $14.4 million (£10 million) on their apartments as a result.

Meanwhile the couple is reported to have spent an additional $7,000 (£4,800) on installing gym equipment in their home. The publication also claims that Holmes, 30, and Cruise, 46, have spent an estimated $7,315 (£5,000) on dining out at top restaurants such as brasserie Balthazar, and sushi restaurant Nobu and more than $17,000 (£11,700) on clothes for Holmes and Suri from shops like Hermes and Bonpoint.

[From the Telegraph]

Something tells me Tom is footing the bill for most of these purchases. I’m sure Katie’s got some money of her own, but probably not enough to part with $14 million in half a year. What I’d really like to know is how she spent nearly $14,000 on Suri’s childcare in just six months. Those must be some seriously good babysitters. Obviously the vast bulk of the spending was on real estate, which may or may not be a sensible investment. But Tom and Katie have more money than most of Manhattan, so a bad real estate investment or two won’t negatively affect them like it would the rest of us.

In related Katie Holmes news, this is her last week starring in “All My Sons” on Broadway. No word on whether she’ll stay in New York. It’s often been reported that Tom wants her back in L.A. as soon as possible – but the couple obviously made some substantial investments in housing in Manhattan, so it seems likely that they’re planning on spending more time on the East Coast.

Here’s Katie and Suri doing a spot of shopping on December 18th. Images thanks to Bauer-Griffin.

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34 Responses to “Katie Holmes spent $14 million in six months in Manhattan”

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  1. monica says:

    i wish i had that kind of money…. sigh.

  2. what is ever. says:

    Katiebot is 30? Seriously? I’m fairly certain she’s younger.

    Shopping is probably the only thing in her life she has control over- if I’d let Tom Cruise hold me hostage and impregnate me, you can be damn sure I’d make a sizable dent in his bank account, too.

  3. Gris Gris says:

    I spend $700 a month to send my infant daughter to a cheap-o group daycare out in the wilds of Brooklyn. I am sure little Suri has a fleet of private nannies that cost way more than that…I think the going rate for a non live in nanny is around $800/week in Brooklyn alone so I am not suprised she would shell out that much (if not more) for childcare. As a fellow Mom, I am going to cut Katie some slack on this one – this city is the worst!

  4. The Old KC says:

    I wish I could wear flats with boot-cut jeans like Katie. I’m petite and my legs look so stumpy unless I have on at least a one-inch heel. So I’m suffering from a major case of flat envy. Not to mention that I was never able to make the skinny-jean look work for me either – I didn’t like the way they looked on me even with heels. Oh well, onward and upward.

  5. Jen says:

    I don’t see where $14,000 in 6 months for childcare is extreme. If it’s that person’s job to solely watch Suri then he/she is only making $28,000 a year. I thought stars paid their nannies far better than that. That figure is about $100 per day. I pay $40 per day to a caregiver that takes 6 kids at a time. Suri’s got to count for at least 3 considering the security she requires.

  6. Codzilla says:

    Gris Gris: Believe it or not, I live in Idaho and the daycare rates are about the same. It sucks, to say the least.

  7. Baholicious says:

    And somewhere some poor $cientologist is unable to afford progressing through their OT Levels…

  8. Kara says:

    $14,000 in six months sounds on the low end to me, if we’re talking a salaried nanny. $14,000 in six months would be less than $30,000 a year and in NYC I could easily see that being a reasonable salary for a part time nanny.

  9. boomchakaboom says:

    Outfitting all the homes, cars, jackets, etc., with bomb/bullet proofing would jack the cost up considerably, I’m sure.

  10. boomchakaboom says:

    Ooops. Didn’t mean to double post.

  11. vdantev says:

    Well it takes a lot of money to hire experienced mercenaries, finance them, equip the operation, not to mention the expert deprogramming/debriefing team after the rescue operation for Katie and her daughter.

  12. melonie says:

    Too bad money can’t buy you love. Shopping is a wonderful addiction when there is a big whole inside of you that you walk around with every day.

  13. yadira says:

    Katie has aged a lot since she hooked up with Cruise. She always looks so drained and tired. And yes I am too surprised that Suri is wearing a coat

  14. Faye says:

    Cut her some slack?? C’mon!! 14 million REALLY!! Try too much frikin shopping damn rich people maybe she should sign up for the millionair show on fox and actually see what it is like to struggle. Childcare yes maybe a couple Grand a month but that is absurd!! WTF happened to all former top celebrities, Tom Cruise, Angelina Jolie, Brad Pitt, they are all headed downhill fast… what happened to them, they had it all and just threw it away..they all make me sick!!! Please don’t reproduce anymore siblings, I am sick of stupid people.

  15. WYou says:

    These celebrities have money. Let them spend it, to help our ailing economy!

    Honestly, if we all stopped spending money, we will end up with a bigger recession than we’re facing.

  16. Bodhi says:

    Holy shit! That’s more money than I’ll ever see in my life! I HATE all this excessive bullshit! No sane or normal person could possibly conceive of spending that much damn money in 6 months, real estate not withstanding.

    Edit: Celebs aren’t spending their money on stuff that will stimulate our economy. How would a $600 silk scarf made in Italy possibly help a family facing foreclosure?

  17. Aspen says:

    The childcare bill is actually much more conservative than I would’ve guessed given the certification level and security competence they probably require.

    The rest of it smacks of depression to me. I mean…how many lipsticks and scarves can you actually buy before the hole in your soul gets full?

  18. mif says:

    How much was the cupcake bill?

  19. lunachick says:

    Agree, the child care amount looks low, if anything. Infant day care runs about $1200/month in some cities (for me here in Portland, Oregon and for my sister in D.C.)

    The rest of it…OK I know NYC is expensive but seriously!!

  20. Kelly says:

    I saw here shopping in Barneys with a friend before Tom and she was just like my friend and I … normal.

  21. boomchakaboom says:

    Shouldn’t a 30 year old mom who can spend that kind of money be rockin’ a hellacious happy face? She rather looks as though she scrubs cold tile floors of bathrooms at night after her day shift at the plant just to make ends meet.

    Co-co-could it be true that money doesn’t buy happiness? Surely not.

  22. Best of British says:

    Buying real estate at the moment in the States is a fantastic idea, there are some awesome deals to be had with the drop in prices.. The richest people in the world are those that made the most of a poor economy and took advantage of it.

  23. Maggie says:

    I Don’t get it. All She ever wears is JEANS!! I Look better than her and shop at used clothes stores!

  24. Ned says:

    She is the most successful gold-digger in the world.

  25. Ned says:

    She looks like a 35 years old midwestern wife and mother of 3 children who also works at a farm.

    Marrying for (more) fame and (more) fortune, will do that to you.

  26. Kim says:

    With the real estate, it does not seem like a lot. I thought she spent that amount shopping. I was clicked on the thread to see what cost that much. This is not news, she must spend that much usually. The expenditure on child care is actually reasonable for their standardads.

  27. WYou says:

    @ Bodhi: I believe only $17,000 were spent on luxury clothes, according to the article. The rest of the money was spent on childcare, restaurants, real estate… thus helping the economy in some way or another.

  28. far says:

    14 million..let’s say they bought 3 apartments for 4 million each that is going to be 12 million…real estate earns an average of 5 percent per year so they have made 300000 dollars in this 6 months. This leaves 1700,000 spending dollars for 6 months so it is roughly 9,444 dollars a day. This might include some mortgage too but for NY is not too much. They can keep those apartments and sell them in a couple of years when market climes up again an make a good profit.

  29. Trashaddict says:

    Ain’t crazy about Katie and her life, but in her defense, I wouldn’t look too happy if the flashbulbs were popping in my face all the time. Maybe it means she can skip the tanning salon tho.

  30. Bodhi says:

    Only $17k? On clothes? In six months? I can’t see any justification for that

  31. mich says:

    $14 mil?! really?!

    i haven’t seen a single cent she spent on clothes! granted, she didn’t spend all of it on clothes. she badly needed some improvement on that department.

    she just dresses the same to me…

  32. colleen conlon says:

    Katie Holmes would be better off divorcing Tom as you can tell by the way his ex’s have fared…especially the first one…before Nicole

  33. Ok first of all, great review ! This is a noteworth topic that deserves more reads than it gets online . A online spokesperson can hugely increase sales through the roof . I have seen huge increase in online orders by using one that I bought a few months ago! If you do not have one, you should get one and you will quickly see a big increase in sales!