50 Cent Sells Massive Connecticut Mansion After 12 Years for an 84 Percent Loss
The 50,000-square-foot estate with 50+ rooms languished on the market for 12 years
50 Cent’s massive home in Connecticut has finally sold after 12 years on the market — and it was no where near his original asking price.
The rapper, nee Curtis Jackson, couldn’t find a buyer for the 50+ room mansion for over a decade and continually slashed the price down from its original $18.5 million reported asking price.
The home was most recently listed for $4.995 million with Million Dollar Listing New York star Fredrik Eklund of Douglas Elliman, PEOPLE confirmed in January 2018. It had also previously been listed for rent at $100,000 per month.
According to the Wall Street Journal, he let go of the home for $2.9 million, which is 84 percent less than the original listing price. Jennifer Leahy of Douglas Elliman brokered the sale.
However, even though the mansion was sold at a massive loss, the “Get Rich or Die Tryin'” rapper will not pocket any of the money. A spokesperson for 50 Cent reportedly told WSJ that the proceeds of the sale would be donated to the G-Unity Foundation Inc., his charity that is dedicated to providing grants to nonprofit organizations that focus on improving the quality of life for low-income and underprivileged communities.
The extravagant home includes 19 bedrooms, 25 bathrooms, an indoor pool and hot tub, and a “substantial” night club, according to the listing. Multiple game rooms, a green-screen room, a recording studio, a full gym and a home theater can also be found in the 50,000-square-foot structure.
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The palatial pad sits on approximately 17 acres. The lot features a pool, pond with fountain, basketball court, guesthouses, gardens, and a Playboy mansion-style grotto.
When PEOPLE first reported on the listing in 2007, the latter was said to have a hot tub that seats 40 people.
Inarguably opulent, the house has had its fair share of problems. In May 2017, a Windsor, Connecticut, man allegedly broke into the mansion, according to CBS Connecticut. Nothing appeared to be stolen, and Jackson — who no longer lived there — reportedly laughed off the incident on social media in a post that’s since been deleted, writing, “What my house got robbed, I thought I sold that MF. LOL.”
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But the storied history dates back to the original owner of the 1985-build, who was eventually jailed for embezzling millions from business investors. The house was bought back by a bank at a foreclosure auction, and later purchased by a Lithuanian businessman who filed for bankruptcy a year after.
Boxer Mike Tyson scooped it up next, and then listed it in 1996 for $22 million. It sat on the market for six years before it as awarded to his second wife, Monica Turner, in their divorce settlement. She then sold the estate to Jackson in 2003 for a reported $4.1 million.
Jackson filed for bankruptcy in 2015, and settled in July 2016, agreeing to repay $28 million in debt, according to Billboard.