While the ongoing trial of Sean “Diddy” Combs has been the center of media attention, the Los Angeles mansion that he listed a week before his arrest has been mostly ignored after roughly 250 days on the market.
Combs’ 17,000-square-foot mansion with 10 bedrooms and 13 bathrooms is located in the swanky Holmby Hills enclave. It went up for sale at $61.5 million last September prior to his arrest on charges including sex trafficking, racketeering and transportation to engage in prostitution. Combs acquired the 1.3-acre property in 2014 for $39 million.
Although Combs’ ex-girlfriend, singer Cassie Ventura, testified in court last week that the estate was not used for any of the notorious “freak offs” coordinated by the controversial music mogul, the property nonetheless carries a guilt-by-association stigma due to Combs’ ownership. Combs has denied the multiple charges brought against him.
“When they buy a home at that price point, they like to brag about it,” Michael Tachovsky, a partner at Landmark Research Group, said in an interview with Business Insider. “P. Diddy’s reputation, at the current time, really isn’t a positive bragging point for a potential buyer. It can play into perceptions, and when there’s a negative perception with a property, it just makes it harder to sell.”
Last November, real estate investor Bo Belmont publicized his offer of $30 million for the property. Belmont made headlines with his discounted acquisition of the Malibu property of Kanye West – the oceanfront property was listed for $53 million and Belmont snagged it for $21 million.
“I want to remove the stigma and focus on the charming elegance of this remarkable property,” said Belmont regarding the Combs estate, adding it “will be a great asset to our growing portfolio of luxury properties.”
Photo courtesy of Zillow
I know they say his sex parties didn’t happen in this house, but wouldn’t it be interesting to go through it with a blacklight?