Photo: Vallery Jean/FilmMagic
After three years of twists, turns, and foreclosure proceedings, Birdman’s mansion was finally sold for $10.85 million.
The Cash Money Records co-founder purchased the Miami Beach, FL, mansion back in 2012 for $14.5 million from Rockstar Energy Drink founder Russell Weiner.
Three years ago we reported the music mogul, aka Bryan Williams, had listed the swanky spot for $20 million. He quickly slashed the price to $16.9 million, followed by subsequent discounts over the years. The price was just under $13 million in June of this year.
The reason for the rush to sell at a discount: the reported $12 million foreclosure proceedings on this luxury home and a Miami office building that housed his recording studios.
According to reports, in 2015, the hip-hop entrepreneur’s holding companies took out a $12 million mortgage on both buildings. In 2017, the mortgage holder filed a complaint, alleging Williams had defaulted on the mortgage and owed $12 million in principal, plus interest. A lawyer for the rapper said reports of a foreclosure were greatly exaggerated.
Amid the claims and counterclaims, one thing is certain: After Birdman bought the mansion, he poured millions into customizing the place.
Located in the gated community of Palm Island, the 20,000-square-foot estate has seven bedrooms, four half-baths, and nine full baths, one of which includes a golden toilet.
The spread features a grand foyer with a split staircase with custom iron railings, chandelier, and spacious living area with water views. The chef’s kitchen includes a center island, two sinks, and sleek white cabinets.
The massive, 2,000-square-foot master suite includes dual baths with a golden commode, a sitting room with a fireplace, as well as a private balcony overlooking the water.
Luxe perks include an entertainer’s bar, home theater, and two wine cellars. The grounds feature a sand volleyball court, two pools, a private dock, and a four-car garage.
Residents of Palm Island also enjoy 24/7 security, tennis and basketball courts, and a playground. The location is just minutes away from upscale dining and shopping venues.
Williams co-founded Cash Money Records with his brother Ronald “Slim” Williams in 1992. He has worked with such artists as Lil Wayne, Nicki Minaj, and Drake. The 51-year-old and musician Toni Braxton announced in January that they are engaged.
Lourdes Alatriste with Engel & Voelkers Coconut Grove represented Birdman and the buyer.
The post Birdman Finally Unloads Luxurious Miami Beach Mansion for $10.85M appeared first on Real Estate News & Insights | realtor.com®.