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50 Cent attends a movie premiere in Los Angeles in January 2018.
One of Connecticut’s better known white elephants — rapper 50 Cent’s massive Farmington mansion —has finally traded for $2.9 million, or 84% less than what it first sought 12 years ago, according to people familiar with the deal.
The musician, whose birth name is Curtis James Jackson III, purchased the property from former boxer Mike Tyson for $4.1 million in 2003, property records show. That deal set a still-standing record for the most expensive home ever sold in Farmington, which is about 80 miles north of Greenwich, according to appraiser Jonathan Miller. The property first listed in 2007, then underwent several price cuts over the years and was listed by various different agencies. Most recently it was seeking for $4.995 million, according to Zillow. It had also been listed for rent at $100,000 a month.
Approximately 50,000-square-foot, the 52-room compound is much larger with other homes in the town of Farmington. The original listing pictures show a basketball court with the logo for Jackson’s G-Unit hip hop group, and a night club decorated with murals depicting Jackson’s large back tattoo and of him wearing a bedazzled cross medallion and pointing a gun. The house also has game rooms, a recording studio, a home theater, an indoor pool and a conference center.
The estate was costing the rapper almost $70,000 a month to carry, including property taxes and mortgage payments, according to documents related to his Chapter 11 bankruptcy filing in 2015. He managed to hold onto the house despite his financial difficulties several years ago.
An expanded version of this report appears on WSJ.com.
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