50 Cents Sold His Stunning Connecticut Mansion for an Astoundingly Low Price
Thanks to the immense amount of wealth they accumulate from projects, tours, and endorsement deals, most celebrities are rich enough to buy a large mansion, or two during their glamorous careers.
Real estate investment is a huge trend in the entertainment industry as seen through Taylor Swift and Ellen DeGeneres’ large portfolios. Most of our favorite stars tend to spend a vast fortune on a comfortable abode they can return to after a long day at work.
While collecting stunning mansions is already a norm in this industry, some superstars have put their fabulous homes on the market for various reasons. Some celebrities who already made headlines for selling their properties include Jessica Alba and Gwen Stefani.
Recently, the famous rapper 50 Cent also shocked the world when he announced that he finally offloaded his stunning mansion for an astounding $2.9M. Let us uncover what drove 50 Cent to sell one of his most prized possessions.
50 Cent bought the home a couple of years ago for $4.1 million. At that time, it set a record for the most expensive home sale in Connecticut. However, only four years later, the rapper put the home up for sale but at a huge loss. The house was on the marker for an asking price almost five times lower than its original $4.1 million.
Back in 2007, when he first put the mansion on the marker, the rapper was asking for a hefty $18.5 million. 50 Cent would have been quite glad if someone had purchased this home then because that would have earned him a handsome profit, but unfortunately he was unable to sell this mansion for 12 years until he was forced to lower the price to $2.1 million.
The Sweetest Deal
Yes, Curtis James Jackson III (50 Cent’s real name) went through a lot of trouble to sell this house. There was even a point in time when he even decided to have it converted into a retirement home, but a Florida businessman came in and purchased the property with an 84% discounted rate!
While most fans initially thought the mansion might’ve been already run-down due to its lower price, the real-estate experts say it still showcases the luxurious features and amenities 50 Cent loved. The famous rapper claims the new owner will live like royalty in his lavish home.
The mansion itself comprised of 19 bedrooms and 25 bathrooms. Some of its luxurious amenities include a hot tub, a pool, a couple of game rooms, a video and audio studio, as well as a private nightclub.
50 Cent’s stunning lion statue guarding the gates will greet you warmly as you enter his palatial property. You’ll also notice the house’s magnificent marble floors, a grand piano, and several other luxuries that the rapper enjoyed for years.
With a stunning mansion owned by a celebrity like 50 Cents, you might wonder why he had a hard time selling the house when he has millions of fans who would have been eager to get it off his hands.
The real-estate experts reveal the reason why it didn’t sell immediately was that the mansion was because just too big for its location. Their data shows larger estates are challenging to sell not only because of their eye watering price tags but also due to the high maintenance cost that comes with owning them.
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