G-Unit boss 50 Cent has finally sold his decked-out Connecticut mansion after having it on the real estate market over the past few years.
According to reports, Fif’s new owner will turn the mansion into an assisted living facility.
TMZ has learned the home sold for $8 million … $10.5 million less than 50’s original listing price almost a decade ago. It’s resort-like amenities sound like a perfect fit for the buyer who is modifying zoning so it can be converted into the old folks home pending the town’s approval. (TMZ)
December reports claimed 50 had problems trying to sell the crib.
Rapper 50 Cent has lowered the asking price for his Connecticut mansion again after filing for bankruptcy in the state this past summer. The Hartford Courant reports the new listing for 50 Cent’s 21-bedroom, 25-bathroom home in Farmington is $8.5 million. High-end residential real estate expert Rob Giuffria says “50 would have a better chance being a country music singer” than finding a buyer at $8.5 million. (New York Post)
50 met with creditors last summer to discuss leasing his multi-million dream home.
The Hartford Courant reports the disclosure came Wednesday during a meeting of creditors. The meeting was conducted by U.S. Trustee, a federal agency that oversees bankruptcy proceedings. Stephen Savva, a lawyer for 50 Cent, says no deal had been reached to lease the Farmington mansion, which the rapper purchased in 2003. (ABC News)
Recent documents showed Fif had around $25 million in assets.
The records, published by Buzzfeed, also claim that 50 owes creditors more than $32.5 million dollars. His expenses, which range from lawn maintenance on his 21-bedroom Connecticut mansion to $12,000 a month in child support (he has two sons, Marquise and Sire), allegedly leave him with a comparatively modest gross income of $76,969.58. (Billboard)