News: Drake Packs His Bags, Banks Millions Selling Hometown Crib
Thursday, Oct 31, 2013 6:30PM
Young Money's Drake may have money to blow these days as reports claim the Forbes Cash Kings lister recently made just under $4 million for selling his hometown condo.
According to reports, Drake did not have his asking price matched but still managed to sell his home.
Drake won't be going home to his posh Yorkville condo. The Toronto-raised rapper sold his 1 St. Thomas St. condo for $3.75 million, below the asking price of $4.2 million when it went on the market this July, confirmed local real estate website and research firm BuzzBuzzHome on Wednesday. The price was later lowered to $3.895 million and sold on Oct. 21, a few days before his 27th birthday and hometown concert last week. (Metro News)
After some mounted speculation, Drizzy's real estate agent confirmed his crib was up for grabs last summer.
The three-bedroom dwelling that occupies 3,600 square feet on the 22nd floor of a high-rise condo building on St. Thomas St. includes three bedrooms, three bathrooms and a pair of heated balconies. You can have all that and access to the building's amenities, including a pool, sauna, gym and valet parking, for $4.2 million. The price doesn't cover maintenance fees, which total $3,361.51 monthly, but it does include two parking spots. (The Star)
Drizzy's agent also revealed most of the potential buyers were not familiar with the rapper's work.
The rapper's agent, who works with the brokerage Royal LePage, Johnston & Daniel division, says the listing has generated plenty of social media buzz, but the seller's high profile won't necessarily help close a deal. She says most of the people considering buying the condo are wealthy couples in their 50s looking to downsize from sprawling estates. "Most of the people who have seen it don't even know who he is," said the agent, who withheld her name lest Drake fans flood her with phony offers. "The décor is a 25-year-old bachelor décor, and doesn't suit the type of person coming through to look at a $4.2 million condo." (The Star)
Last year, the Young Money protégé dropped over $7 million on a California mansion.
This beautiful estate features seven bedrooms, nine bathrooms and is more than 7,444 square feet. The home features a multi-million dollar pool that boasts cascading waterfalls, an 80-foot water slide and a grotto (watch out, Hugh Hefner). Other exterior features include a tennis court, five horse stall facilities with riding area (remember he said "my aunt, she rode equestrian," so that clearly makes sense), a sand volleyball court, commercial bathrooms, a mechanical bull and viewing pavilions to name a few. Oh, and if you think that mechanical bull is random, it's really not. The property was developed by Larry Pollack, owner of the famed Saddle Ranch Chop Houses. Now you get it. (E! Online)
In March 2012, he sold one of his Miami, Florida cribs to NBA player Mario Chalmers.
South Beach-based attorney Matthew Krieger represented Miami Heat player Mario Chalmers in the $2.6 million purchase of a five bedroom, six bath condo (created by merging two units together) at the Marquis in downtown Miami. Seller? Aubrey Graham, better known as Canadian rapper Drake. (Miami Herald)