Joe Giudice got nothing from $2M NJ home sale

Some four months since the sale of Joe and Teresa Giudice’s longtime family home officially sold, new details have emerged.

The six-bedroom, 5.5-bathroom Towaco, New Jersey property officially closed in May for $2 million after a few price cuts, a contract fall-out and a total of 19 months on the market.

But it looks like all of the proceeds went to Teresa — and her ex-husband, Joe, was left with nothing, The Post can report.

“The seller is not receiving net proceeds from the sale. Net proceeds from the sale means the net amount due to the seller on the settlement sheet,” property records obtained by The Post stated of Joe, who has been marked as one of the sellers, along with Teresa.

On the same property filing, it states Teresa would get 100% of the $2 million.

According to an insider, the proceeds went to Teresa as part of the initial divorce settlement between her and Joe, who was deported to Italy in October 2020.

The source added, however, that although the “Real Housewives of New Jersey” star earned the full amount from the sale, her mounting debt from the former couple’s past fraud case essentially left her with nothing as well.

“At the end of the day, neither one of them received any proceeds from the house,” the source said. “Teresa didn’t get money. Joe didn’t get money.”

“They had a mountain of debt, which they discussed in divorce,” the source added.

Records show Joe, 52, purchased the home for $530,000 in 2002. Teresa was later added onto the deed.

The inside of the front door has sculpted wings as handles, which open onto a black marble floor and a two-story foyer with a Cinderella staircase.
Teresa and Joe Giudice’s now former home. The inside of the front door has sculpted wings as handles, opening onto a black marble floor and a two-story foyer with a Cinderella staircase.
Realtor.com
As is fitting for the author of hit-cookbook “Fabulicious!”, Giudice’s kitchen is decked out with stainless steel appliances and a butler’s pantry.
Giudice’s former kitchen is decked out with stainless steel appliances and a butler’s pantry.
Realtor.com
The stone and stucco house has a formal dining room with a hand-carved fireplace, a two-story great room with a wood-burning fireplace, a wine cellar and an office.
The stone and stucco house has a formal dining room with a hand-carved fireplace, a two-story great room with a wood-burning fireplace, a wine cellar and an office.
Realtor.com
The RHONJ star’s six bedroom, five-and-a-half bathroom mansion spans 10,000 square feet on 3.7 acres of property.
The “RHONJ” star’s former six-bedroom, 5 ½-bathroom mansion spans 10,000 square feet on 3.7 acres of property.
Realtor.com
The now-split couple bought the property for $530,000 in 2002 and custom built the house, which was completed in 2008.
The now-split couple bought the property for $530,000 in 2002 and custom-built the house, which was completed in 2008.
Realtor.com
The price cut comes as the divorcée moves on from her two-decade marriage, sharing pictures with her new boyfriend, Digital Media Solutions co-founder Luis Ruelas, age 46.
The entertainment room.
Realtor.com

In 2015, the now-divorced couple’s home faced foreclosure after owing $1.7 million to the bank in connection to their fraud case, in which Teresa was sentenced to 15 months in federal prison and Joe was sentenced to 41 months.

Meanwhile, Teresa explained that it was hard for her to let go of the 20-year home she raised her kids in, but it was something she had to do.

“It’s hard for me to sell the house,” she revealed on camera in a confessional in March. “[My ex-husband] Joe and I built the house together; we raised our four daughters in that home.”

“I am ready for a new beginning,” she added. “I’m looking for a fresh start.”

And a fresh start she got.

Teresa, 50, and new husband, Luis Ruelas, 47, shelled out $3.3 million for a luxe seven-bedroom, 11-bath home in Montville, only 10 minutes away from her old home.

Situated on 5.66 acres of land, her new home comes packed with all the amenities, including a home theater, and a salt water pool with an underground slide and a cabana, according to the previous listing.

The Post has reached out to reps for comment.

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