Sean ‘Diddy‘ Combs has reportedly sold his Miami home for a whopping $55 million while he is serving a prison sentence. The reports suggest that the buyer financed the purchase of Diddy’s property with a mortgage.
Diddy offloads his waterfront Star Island estate amid ongoing legal battles
Diddy pleaded guilty to two prostitution charges, and he is currently facing a prison sentence of more than four years.
While in jail, the former rapper has reportedly sold his Star Island mansion in Florida. The home has six bedrooms, eight-and-a-half bathrooms, a pool, a dock, a spa, and a 240-foot waterfront, built in 1940 and expanded in 1955. The estate spans nearly 8000 square feet and sits on 1.3 acres lot, according to Real Deal.
This property was reportedly purchased by a real estate company, JFStar LLC, from Newport News, Virginia. The buyer financed the purchase with an $18.5 million mortgage. However, the convicted star still owns the main Star Island estate located next door to the sold property. The Star Island property has been one of the best-known real estate holdings by Combs.
The sale comes as the former record executive was facing charges of racketeering conspiracy and two prostitution charges. According to US Weekly, Diddy spends his time shelving books in the prison library, exercising at a federal prison in southern New Jersey. He is currently waiting for the decision on appeal to overturn the prison sentence.
The judges from the Second U.S. Circuit Court of Appeals in NYC heard his legal team’s appeal seeking a conviction overturn. However, the decision is yet to come from the court.
The sale marks one of the biggest real estate moves involving Combs while he continues to deal with court proceedings, making it one of the significant developments outside the court. While the sale is complete, attention now turns to the outcome of his appeal.
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