Investor buys rapper Birdman’s Miami Beach home out of receivership

Foreclosure suit was filed in 2017, and the property has gone through multiple listing agents

Miami /
Jul.July 24, 2020 02:42 PM
Birdman with the home (Credit: Gabriel Olsen/Getty Images)

Birdman with the home (Credit: Gabriel Olsen/Getty Images)

Entrepreneur and investor Teddy Truchot bought the Miami Beach home that belonged to rapper Birdman. The house, with an onyx bar, golden toilet, and two pools, sold out of receivership for $10.85 million, The Real Deal has learned.

The golden toilet in Birdman’s former waterfront Miami Beach mansion

Bryan “Birdman” Williams bought the house in 2016 from Rockstar Energy Drink founder Russell Weiner for $14.25 million. Williams reportedly spent millions renovating the 20,000-square-foot waterfront home at 70 Palm Avenue on Palm Island.

In November 2017, Fort Lauderdale-based Chemtov Mortgage Group filed a lawsuit to foreclose on the waterfront property, alleging that Williams and other companies tied to him had stopped making payments on the loan. The foreclosure suit also targeted the building at 1755 Northeast 149th Street, home to Birdman’s Hit Factory Criteria Studios, which was not included in the sale of the Palm Island house.

Lourdes Alatriste

Lourdes Alatriste

Lourdes Alatriste of Engel & Völkers brokered the sale of the house, she said. Alatriste, who has been involved in three Palm Island sales over the past year, declined to comment on the buyer, but said it is a family that plans to renovate the house.

Records show a court order filed in late May allowed the receiver, Seth Heller, to approve the sale of the property to Teddy Kevin Trucht (sic).

Truchot is a co-founder and partner at BlackDivine, an internet company and venture capital firm. Records show he owns a waterfront home at 308 South Coconut Lane in Miami Beach through a trust. It was listed for sale in May for $7 million, according to Zillow.

The seven-bedroom, 12-bathroom mansion he bought on Palm Island also includes a movie theater, two wine cellars, a summer kitchen, a dock that fits a 100-foot yacht, and a volleyball court. Since it hit the market in 2017 for $20 million, a few real estate agents have had the listing, including Brett Harris and Darin Tansey of Douglas Elliman, and Brown Harris Stevens Miami’s Jeff Miller and Darren Weiner of Celebrity Advisors.

Alatriste said it was challenging to sell the house, but that it has solid bones.

“I think the buyers are going to have a hell of an equity here,” she said.

Write to Katherine Kallergis at [email protected]


Related Articles

arrow_forward_ios
What’s an Airbnb worth? Suit seeks nearly $3M price drop for Miami Beach building without short-term rental permit
What’s an Airbnb worth? Suit seeks nearly $3M price drop for Miami Beach building without short-term rental permit
What’s an Airbnb worth? Suit seeks nearly $3M price drop for Miami Beach building without short-term rental permit
David Gebbia and renderings of the property (Realtor.com, Getty)
Real Housewife of Beverly Hills’ ex-husband buys non-waterfront Palm Island house for record $6M
Real Housewife of Beverly Hills’ ex-husband buys non-waterfront Palm Island house for record $6M
Dave Grutman and Jeffrey Soffer
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
Inset: Jay Philip Parker, Alicia Cervera Lamadrid, Edgardo Defortuna
Real estate developers, brokers court Art Basel Miami Beach attendees
Real estate developers, brokers court Art Basel Miami Beach attendees
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
South Florida by the numbers: Winter sports heat up market
Michael Huffington and the condo building (Getty, Eighty Seven Park)
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Michael Huffington sells Eighty Seven Park condo for $11M a year after purchase
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Vineyard owner sells Venetian Islands home to investment firm founder for $15M
Corcoran’s Julian Johnston, Luxe Living Realty’s Dora Puig, One Sotheby’s’ Jeff Miller, Douglas Elliman’s Dina Goldentayer and Douglas Elliman’s Oren Alexander
WATCH: Top luxury brokers go head to head at TRD’s Miami event
WATCH: Top luxury brokers go head to head at TRD’s Miami event
arrow_forward_ios

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

Loading...