Less cash money will be needed to purchase rapper Birdman’s Miami Beach mansion.
Birdman, whose real name is Bryan Williams, is re-listing his nearly 20,000-square-foot home at 70 Palm Avenue for $15.5 million, a 22.5 percent reduction in price from when it first hit the market in 2017 for $20 million.
The waterfront Palm Island home is now on the market with Brown Harris Stevens Miami’s Jeff Miller and Darren Weiner of Celebrity Advisors LLC. It was previously listed with Douglas Elliman’s Brett Harris and Daren Tansey, who cut the price a year ago to $16.9 million.
Shortly after, EMG Transfer Agent, which holds the mortgage on the property, filed a lawsuit against Williams and his affiliates CM Spirits LLC, Criteria Operations LLC and others seeking to foreclose on the property after CM Spirits and Williams allegedly failed to pay the principal on a $12 million mortgage. A non-jury trial is set for January 2019, court records show.
Williams co-founded Cash Money Records with his brother, Ronald “Slim” Williams. Artists signed to Cash Money Records include Drake, Nicki Minaj and Lil Wayne. According to Forbes, Birdman was worth an estimated $110 million in 2017.
He bought the Miami Beach house in 2016 from Rockstar Energy Drink founder Russell Weiner for $14.25 million, and spent millions renovating the 10-bedroom, 14-bathroom mansion.
The property 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-car garage and a two-car garage, a pool, and a summer kitchen with a pizza oven. It was built in 2004.