Lil Wayne finally sells his La Gorce Island manse for discounted $10M

It hit the market in 2015 for $18M

Miami /
Jun.June 20, 2017 05:30 PM

Young money millionaire Lil Wayne sold his Miami Beach mansion for a deeply discounted $10 million, his real estate agent announced on Tuesday.

The rapper, whose real name is Dwayne Michael Carter Jr., listed his waterfront home at 94 La Gorce Circle for $18 million more than two years ago, and cut the price three times to $12 million in July, according to Redfin. Ty Forkner of One Sotheby’s International Realty brokered both sides of the deal.

“The $18 million price was not ever really expected. Like most sellers out there, he wanted to shoot for the stars and then we came down when the market came down,” Forkner told The Real Deal. He declined to identify the buyer.

The nine-bedroom, three-story, 15,100-square-foot home features a waterfront pool, glass-enclosed elevator, 120 feet of bay frontage and a rooftop skate park. It sits on a 20,900-square-foot lot. Thanks to the city’s new rules on lot coverage, “you can’t construct a house that large on a lot that size anymore,” Forkner said.

It sold for about $660 per square foot.

Lil Wayne will continue living in Miami, his real estate agent said.

He paid $11.6 million for the house in August 2011, marking a slight loss for the rapper, property records show. Forkner said the latest sale was a “really good deal for the buyer.”

Across South Florida, multimillion-dollar home prices are being slashed by potential sellers in exclusive neighborhoods as more mansions continue to enter the market.

“For sellers who don’t adjust [their prices], the houses are going to stay on the market,” Forkner added.


Related Articles

arrow_forward_ios
Victor Oladipo joined the Miami Heat earlier this year. (Getty)
Miami Heat’s Victor Oladipo buys non-waterfront Miami Beach spec home for $8M
Miami Heat’s Victor Oladipo buys non-waterfront Miami Beach spec home for $8M
Tommy Hilfiger and Grant Cardone with 605 Ocean Boulevard (Getty)
Tommy Hilfiger selling waterfront South Florida mansion to Grant Cardone for $28M: sources
Tommy Hilfiger selling waterfront South Florida mansion to Grant Cardone for $28M: sources
Tomo Kipp, LeBron James, Jeff Conry and the Crystal View Court Mansion. (Getty, iAero, Compass)
Former Coconut Grove mansion of LeBron James sells for $13M
Former Coconut Grove mansion of LeBron James sells for $13M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Major Food Group's Jeffrey Zalaznick and Mike Piazza with the Miami Beach mansion (Getty, The Jills – Photography by Luxhunters)
Hall of Famer Mike Piazza sells waterfront Miami Beach mansion to Major Food Group partner
Hall of Famer Mike Piazza sells waterfront Miami Beach mansion to Major Food Group partner
Ava F. Roosevelt (Getty, Google Maps)
Widow of FDR’s grandson sells Palm Beach home
Widow of FDR’s grandson sells Palm Beach home
Lionel Messi and photos of the Regalia unit (Getty)
Goooooool: Lionel Messi’s family scores condo in Sunny Isles Beach
Goooooool: Lionel Messi’s family scores condo in Sunny Isles Beach
Sean Hannity and 9 Sloans Curve Drive, Palm Beach (Getty, Google Maps, iStock)
Sean Hannity buys oceanfront townhouse in Palm Beach
Sean Hannity buys oceanfront townhouse in Palm Beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...