P. Diddy $40 million house was probably built with someone like him in mind. The new mansion is located in Holmby Hills, Los Angeles, the business mogul will have the Playboy Mansion as neighbor.
Life is looking pretty good right now for the man born Sean John Combs, but rose to fame as Puff Daddy, Diddy, and P. Diddy. The father of five who is worth more than $700 million and has long been seen as a guy from the East Coast is moving West in big fashion.
Diddy has spent $40 million on a new Los Angeles house that was built six months ago. The legendary hip hop music producer was looking for a home in California when real estate businessman Kurt Rappaport talked to him about this 17,000 square-foot property.
The “Big Homie” singer’s new two-story mansion has eight bedrooms, eleven bathrooms, a 35-seat theater, a wine cellar and a gym. The impressive estate also contains a 3,000 square feet guest house.
Diddy also owns a home in Alpine, New Jersey, which he has been trying to sell for a very long time. When he first listed the 17,000 square-foot estate in 2011, he was asking for $13.5M. Two years later the asking price went down to $9.99M.
The business man explained last year he was selling some of his properties because he now spends most of his time in Miami where he has a $30 million mansion. Diddy also stated that taxes played a part in his decision to spend more time in Florida.
In 2013, the 44-year-old music star also tried to sell his Manhattan apartment. It will be interesting to see if he leaves the Sunshine State behind after investing so much in a California mansion.
A shrewd businessman, Diddy invested in Revolt TV that launched earlier this year, he is still the head of Sean John fashion line. Since becoming the official ambassador for Cîroc in 2007, the French vodka brand has reached unprecedented heights.
Revolt TV is said to be struggling a bit in its quest to expand, this does not seem to be problem for the founder of Bad Boy Records who is still considered the top earner in the hip-hop industry.
Was P. Diddy $40 million house, money well spent?
