Wellington real estate investor pays $16M for shopping center in own backyard
Vanilla Ice, the “Ice, Ice Baby” rapper and self-proclaimed seasoned house flipper, is going on camera with his latest project: the rehab of a 7,000-square-foot foreclosed Wellington mansion for which he bid $420,000 after it had been stripped bare by its former owners. Vanilla Ice, or Rob Van Winkle, as is his legal name, said the DIY Network reality show — “sorta like ‘Pimp My Ride,’ except for houses” — will premier in the fall, chronicling the property’s transformation. “The previous owners took everything. They ripped out mirrors attached into the walls, the fridge, the files by the pool… at one point, the house was worth $2.4 million,” said the Wellington native, who has lived in the same gated Versailles community where his project is located for five years and owns some two dozen rental properties in Palm Beach County. He plans to relist the finished property for $1.5 million this summer. [Palm Beach Post]
