Beleaguered rapper and mogul Diddy is reportedly planning on leaving Los Angeles for good as potential legal problems continue to mount around him. TMZ has the story that he has reportedly listed his mansion in the Holmby Hills neighborhood of LA for a cool $70 million — which happens to be $30 million more than what he paid for it a decade ago.
That’s not a completely unheard-of profit margin in luxury real estate, especially in California after ten years of ownership, but sources told TMZ that it’s probably over-optimistic and Diddy will be lucky if he finds a buyer for anywhere near that. He’s also hoping to make the sale off-market without any open listing.
As for the home itself, it’s a 17,000-square-foot palace that you would pretty much expect Diddy’s mansion to be like. It has eight bedrooms and 11 bathrooms, with amenities like a 35-seat movie theater, a wine room, a gym, a lagoon-style swimming pool complete with underwater tunnel, and a basketball half-court. There’s also a separate 3,000-square-foot guest house on the property.
Diddy’s Holmby Hills Mansion (Photo by MEGA/GC Images)
Unfortunately for Diddy, all those luxurious features will have an uphill battle to offset the home’s notorious recent history, which included a raid by the Department of Homeland Security in an ongoing human trafficking investigation. DHS agents basically ransacked the place back in March, so it’s no shock that Diddy would want to put the place behind him, even as he does seem to be trying to make as much money as possible in the process.
Public notoriety that comes from things like federal raids and celebrity scandal can drive down the selling price of even the most impressive mansions, which could be one reason why Diddy has elected to try and sell this one off-market. In any event, time will tell whether someone will snap it up for $70 million or whether it will be had at a discount.
For Diddy’s part, he’s reportedly planning to leave LA for good and has been spending much of his recent time in Miami, Florida. The evidence against Diddy on human trafficking allegations and other charges is currently before a grand jury, which will, at some point, decide whether or not he’ll be indicted on any of the charges.