Prolific artist and entrepreneur 50 Cent recently sold his Connecticut Mansion for $2.9 million, with proceeds to benefit his charity. The sale concludes a long-running saga, and puts a considerable source of frustration in the rapper’s rearview. The home first hit the market twelve years ago with an asking price of $18.5 million. It would be a tough pill to swallow if it wasn’t such a relief to see it gone.
Located in the charming town of Farmington, the expansive estate has a complicated past with the real estate market, one that stretches back to the last decade. 50 Cent purchased the home from fellow star Mike Tyson in 2003 for $4.1 million. A few years later, following expensive renovations, the property was put back on the market with increasing price reductions, but it consistently failed to find the right buyer or renter.
The mansion features a whopping 50,000 square feet of living space. That’s a lot of house. In fact, it might have been just too much house for most buyers. It’s also grandiose in style and layout, with a wildly palatial double staircase, a large elevator, a catering-ready kitchen with two islands, and an extremely formal dining room with marble floors.
A bit like a microcosm of a luxury hotel, the house also boasts a night club, game rooms, a movie theater, a recording studio, a large indoor pool, a fitness center, and a basketball court. Outside, a lake, a footbridge, and a pool with a grotto help fill out the acreage.
Although real estate is typically regarded as one of the safer forms of investment, this investment ultimately cost the rapper an estimated $70,000 a month just to maintain, and ultimately proved to be an albatross.
Aside from his successful music career, 50 Cent is an astute businessman. His minority stake in Vitamin Water-maker Glaceau netted him $100 million after taxes following the company’s acquisition by The Coca-Cola Company to the tune of $4.1 billion.