Scott Storch Loses Mansion in Foreclosure

Scott Storch's empire has been in a state of collapse for some time now so it's kind of surprising to hear that he's only now losing his mansion.

Hip Hop Soda Shop Building on Auction

The building that housed the Hip Hop Soda Shop, among other businesses, was up for auction this week but the highest bid was rejected by the owner.

Tough times all around.

Related ProHipHop Coverage:
Hip Hop Soda Shop Slips Into Dead Pool

50 Cent's Overpriced Mansion Taken Off Market

50 Cent's Farmington mansion has been taken off the market after a two year effort:

"The home, which the famous rapper bought in 2003 for $4.1 million, was for sale for 722 days, first with an asking price of $18.5 million. Late last year, the asking price was dropped to $14.5 million in an effort to attract more potential buyers."

"In May, the listing contract with Keller Williams Realty's Ridgefield office officially expired, and the property has not yet been re-listed for sale, an agent familiar with the estate said."

Via AllHipHop.

Related ProHipHop Coverage:
50 Cent Seeks Home Buyer w/MTV CRIBS' Help
50 Cent's Mansion for Sale

Eminem's Manager, Paul Rosenberg, Selling NY Maisonette

Paul Rosenberg, said to be the manager of Eminem, The Knux, Three 6 Mafia and Blink 182, is selling his New York maisonette at a current listing of $4,950,000, reduced to date by $500k.

What's a Maisonette?
"a maisonette is a multi-story house-like apartment, usually on the ground floor of a larger building, that possesses its own entrance from the outside."

Realtor's Description:
"a massive 4634 sf triplex with 785 sf of combined outdoor space, currently configured as three bedrooms (two en suite masters), 3.5 baths, plus a home office & dining area.Not only is this an elegant loft home, but a total environment as well which offers a patio with hot tub and outdoor Viking Professional grill with food and beverage center, a Crestron system which has integrated speakers and lighting control throughout every room and patio, home theatre room, glass enclosed wine and cigar bar, game room, and exercise room with sauna."

Check The Real Estalker for more details and pics of this rather opulent offering.

P Diddy: From Sunset Strip Rental to Home Ownership?

According to The Real Estalker, P Diddy is considering buying his current Sunset Strip rental which has somehow risen in price from $5,495,000 to $5,995,000 despite the difficult economy:

"The 4 bedroom house offers...3 main bedrooms, an additional bedroom for the staff/entourage...5.5 bathrooms, a media room, a lovely view towards Century City, and two swimming pools. That's right children, two damn swimming pools."

Guess his mere presence has an effect on real estate values!

Tour DMX's Abandoned, Foreclosed Home

Having recently pled guilty to various charges, DMX awaits sentencing as all eyes have turned to his foreclosed home.

AZFamily.com has more info and a video tour of his home which was raided last May and has been burglarized since.

Is there any indication that anybody has DMX's back?  Apparently he has a public defender representing him.

If he doesn't have any real support, i.e. everybody in for the money has run, I guess we'll just keep watching it get even worse until he's dead or permanently incarcerated.

But that's the streets, ain't it?

[They shoot horses dogs, don't they?]

Foreclosures: Doug E. Fresh, T-Boz, Wyclef Jean

Here's some sucky foreclosure news from the New York Post:

"Doug E. Fresh...has been socked with three foreclosure actions by banks looking to collect more than $3.5 million in unpaid mortgages on a trio of his Harlem homes."

"The rapper, 46, also is being chased by American Express for nearly $60,000 in credit-card debt, and the IRS just slapped him with a $367,000 tax lien on top of more than $40,000 owed to the state tax collector, records show."

I wonder how many celebrity oriented reporters are spending chunks of time or having others spend chunks of time keeping up with foreclosure records?

Via The Home Front. Also:

T-Boz, of TLC, in Danger of Losing Her House

Ex-Fugee Wyclef Jean’s House in Foreclosure

Homeowners: Less Healthy and Joyful than Renters

1520 Segwick Ave. Hangs In, Gawker Hangs Weak

The folks at 1520 Sedgwick Avenue, the birthplace of the breakbeat, are hanging in and planning actions that will continue if the building is sold and eviction begins.

This situation has evoked a rather odd post by Gawker's Hamilton Nolan who doesn't seem to know how to deal with a topic that's neither humorous nor has an easily parodied villain.

1520 Sedgwick Cleared for Sale

The Bronx building sometimes known as the birthplace of hip hop, 1520 Sedgwick, has been cleared for sale and could be sold this week.

Despite some hopes that the financial meltdown would cause a retraction of what is considered an overvalued offer:

"The current landlord group of the building, 1520 Sedgwick, is expected to withdraw the building from the city’s Mitchell-Lama moderate housing program by paying off the mortgage with a $5 million payment. This will then free the building to be sold to an investment group led by Mark Karasick."

Donda West's Home Headed for Price Cut

From the LA Times:

"Look for a price drop this week on the home that belonged to Kanye West's mom, Donda West, until her death in November. The Playa del Rey house, originally priced at $1,945,000, was dropped to $1,745,000 at the end of May. It is expected to be lowered to $1,595,000 this week."

Damon Dash Facing Foreclosure on 2 Properties

The Associated Press is reporting that Dame Dash and Rachel Roy face foreclosure on two Manhattan apartments on which they owe $7.3 million.

"Your Mama" at the Real Estalker has more:

"According to property records, reports and court filings, the alliteratively blessed couple carries a whopping $7,300,000 mortgage on the N. Moore Street condo, which is comprised of two combined units. Mortgage holder Eastern Savings Bank, the entity that initiated the uglee foreclosure proceedings, claims the couple were meant to be making monstrous monthly payments of $78,500."

Hit her blog for a taste of Your Mama's style and her take on this situation.

Forbes: Hip Hop Real Estate, 50 Cent's Home Still for Sale

Thought I was done with Forbes but they've got an article on hip hop homes for sale and a slideshow that includes a few additional properties previously bought or sold.

50 Cent's home in Connecticut has been on sale for over a year now even after appearing on MTV CRIBS!

Kanye West Selling Mom's Home

Kanye West is selling the home of his deceased mother, Donda West.

No doubt a sad but necessary decision.

Real Estate: Diddy, Kimora Lee Simmons, Beyonce & Jay-Z

From The Real Estalker:

Diddy is "rumored to be forking over around $30,000 per month to lease a 4 bedroom house in the hills above West Hollywood."

Kimora Lee Simmons is selling a house in Beverly Hills she bought last year.  See Update for pics.

In late May, rumor had it that Beyonce and Jay-Z were buying a place in Scarsdale.

Rev Run's House Still for Sale, 8 Houses of Bling

I got a an email telling me that Rev Run's house is for sale.  Or maybe it just hasn't sold because it looks like it was on the market in 2005 and has remained on the market ever since unless, of course, it was sold and now the buyer wants to be a seller.

I can't sort it all out right now but, if you're digging the hip hop real estate scene, you'll appreciate 8 Houses of Bling featuring real estate offerings from Rev Run, Russell Simmons, Kanye West, 50 Cent, Suge Knight, Snoop Dogg, Eminem and Jermaine Dupri.