Hip-hop artist Sean "Diddy" Combs had listed his 10-bedroom, 17,000 square foot Beverly Hills mansion for $61.5 million in September as per Realtor.com. Last week, real estate investor Bo Belmont of Belwood Investments offered $30 million for the mansion. While speaking to TMZ, the investor called the original price tag "completely overpriced."
"When I went inside, it really wasn't reaching that $60 million expectation that buyers want."
Bo added that there is no room for negotiation and his team would withdraw the current offer and instead propose $27.5 million. Combs had bought the home in 2014 for $39 million.
The property has been involved in several controversies amidst numerous s*xual assault lawsuits filed against the singer. As per reports, the property was the center of Diddy's alleged "freak offs" and was raided by an FBI agent in March as part of an alleged s*x trafficking investigation along with his waterfront residence in Miami.
More about Sean "Diddy" Combs' Beverly Hills mansion
As per marketing images of Sean 'Diddy' Combs' Beverly Hills Mansion, the house is surrounded by a manicured lawn, and the property is sprawled across 1.3 acres. There's a large cobblestone driveway leading to the entry, with a sweeping staircase foyer.
The mansion includes a large living room, a formal dining room, a chef's kitchen, and a wine cellar. There's also a theater with 35 seats, dual baths, large closets, a two-story guest house, and a recording studio.
Real estate investor Bo Belmont in a video posted on Instagram on November 7 revealed why his company invests in homes like P. Diddy's despite the controversies surrounding the property. In the video, he can be heard saying,
"Some investors stay away from houses like the Kanye West house, the P. Diddy house but this is our target, we take the house we renew it we restore it, but we also change the persona and the stigma. We make sure this house is No. 1."
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As per news outlets, Combs is struggling to sell the property since it has repulsed potential buyers with its past controversial events and fresh scandals revolving around the singer. The singer is currently in custody after being arrested and indicted by federal authorities in New York.
As per TMZ, one woman was "creeped out" by thoughts of the mansion's "Freak-off" persona. As per Daily Mail, the property was originally planned to be sold for $70 million but the price was slashed.
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