At about the same time rapper and producer Bryan “Birdman” Williams cut the asking price of his Miami Beach estate, his lender filed a foreclosure lawsuit against the music mogul.
Fort Lauderdale-based Chemtov Mortgage Group is suing to foreclose on the waterfront mansion at 70 Palm Avenue. The lender alleges that Williams stopped making payments in June on a $12 million loan he used to buy the property in 2014, the Miami Herald reported.
CM Spirits LLC, Williams and others have accrued more than $800,000 in unpaid interest, late fees and charges, according to the suit.
The property is currently on the market for $16.9 million, down from $20 million.
The Cash Money Records co-founder bought the house in 2016 from Rockstar Energy Drink founder Russell Weiner for $14.25 million, and spent millions renovating the 20,000-square-foot waterfront home.
The seven-bedroom, 12-bathroom mansion features about 100 feet of water frontage with a dock for a 100-foot yacht, a volleyball court, movie theater, chef’s kitchen, two wine cellars, a four- and two-car garage, a pool, and a summer kitchen with a pizza oven. [Miami Herald] – Katherine Kallergis