Asking for mo’ money leads to mo’ problems for hip-hop mogul Sean “Diddy” Combs — at least when it comes to his Manhattan condo, which has lingered on the market since 2012.
The self-proclaimed “Bad Boy 4 Life” has skimmed nearly half a million dollars off the asking price, bringing it down to $6.5 million. Just a few months ago, the apartment was listed for $6.995 million, and was originally listed for $8.5 million when it first hit the market in 2012, the New York Observer reports.
Tastefully designed by the renowned New York-based architecture firm, Skidmore, Owings & Merrill (SOM), the 2,300-square-foot residence, now listed with Whitney Didier of Douglas Elliman Real Estate, sits on the 66th floor of the Park Imperial — a 70-story condominium tower in Midtown Manhattan.
Combs — who’s returned to using his Puff Daddy moniker for the Bad Boy Family Reunion Tour, which kicked off in May — has converted the three-bedroom residence into a two-bedroom. The master suite, which offers sweeping views of Central Park, includes a bathroom with custom cream finishes, upgraded hardware and radiant heat floors.
The residence also has seven-foot-wide plank solid wood floors, kitchen appliances by Miele and Sub-Zero, and roughly 40 feet of window frontage.
Forbes estimates Combs’ net worth to be roughly $750 million, naming him hip-hop’s wealthiest artist. The Grammy-award winning performer is the founder of record label Bad Boy Entertainment, as well as the cable network REVOLT TV and fashion label Sean John. He is also an actor, restaurateur and vodka slinger — who brought the Cîroc brand to fame.
Diddy is no stranger to real-estate investments. His property portfolio includes a European-style villa in Los Angeles’s Holmby Hills, as well as a Colonial-style red brick mansion in Alpine, New Jersey, which has seen a number of discounts in its five years on-and-off the market. He also owns a waterfront mansion on Miami’s Star Island and a contemporary house in East Hampton, New York.
Write to Gina Faridniya at gina.faridniya@dowjones.com