In an unexpected but relatively tame twist in the often chaotic world of hip-hop, Kanye West and Sean “Diddy” Combs have found themselves on opposite sides of a real estate deal.
Recently, Diddy is said to be being urged to give up his massive Holmby Hills mansion because of more serious legal issues. He received a very attractive offer from real estate investor Bo Belmont.
According to a report from TMZ, the 17,000 square foot property was first listed for $62 million but is now on the market for just $30 million.
Belmont – through his company Belwood Investments – shot to fame earlier this year after buying West’s Malibu beachfront mansion for a bargain $21 million, after the house was cleared amid changes to Knirscht changed before being offered for sale at a 64% discount compared to the price offered by West. payment for the main asset in 2021, leaving the seller with a loss of $57 million.
According to AllHipHop, while Belwood worked with West’s team on the Malibu deal, sources said whether West’s team was involved in the latest transaction is unclear. This adds another wrinkle to this already messy story about other allegations involving the two tycoons.
The sale of Diddy’s mansion was heavily influenced by the rapper’s legal problems with the sex tape. He is currently in federal custody on sex trafficking and racketeering charges, including transporting women for prostitution.
Diddy’s son Justin Combs’ mother Misa Hylton posted a video on Instagram of the raid on Diddy’s LA mansion. She criticized the Department of Homeland Security for being openly militarized and being too aggressive with her son during the surprise raid.
In addition, Misa Hylton also accused the Department of Homeland Security of… pic.twitter.com/0Cw9hpE79c
– Art of Dialogue (@ArtOfDialogue_) April 2, 2024
The property has now sat for two months without any serious offers as the fees have stripped it of its desirability as a marketable asset.
“The property itself is impressive, but clearly the criminal charges have affected buyer interest,” a real estate insider told PEOPLE. Limited high-end international interest has attracted curiosity abroad, but no significant dollars. Buyers are generally more cautious, Brooks said, and that makes for a tough market.
Diddy got into trouble when Homeland Security raided his homes in LA and Miami earlier this year. His lawyers are trying to get him released on a $50 million bail, which will be set under strict conditions, while he awaits his scheduled trial in May 2025. Diddy could be sentenced to life in prison if convicted.
Diddy’s family also condemned the drama he was embroiled in. Misa Hylton, the mother of Diddy’s son Justin Combs, criticized the Department of Homeland Security on social media for their tactics and described them as “militarized” and “aggressive” during the raid.
Tags Kanye West, Diddy