Lil Wayne is about to make it rain with the sale of his waterfront Miami Beach mansion.
The award-winning rapper, whose legal name is Dwayne Michael Carter Jr., found a buyer for his Allison Island home that is on the market for $28 million, according to Realtor.com. It went into contract last week, according to the Multiple Listing Service. Lil Wayne paid nearly $17 million for the estate at 6480 Allison Road in 2018, records show.
The 10,632-square-foot, seven-bedroom, nine-bathroom and two-half-bath mansion hit the market in September for $29.5 million with Douglas Elliman agent Cyril Matz. The price was lowered in December to its most recent asking price.
Matz didn’t respond to a request for comment, but the property is in contract, according to Realtor.com. Other publications incorrectly reported that the deal has closed.
The roughly half-acre property has 110 feet of water frontage, a pool and cabana. Spec home developer Laurent Harrari built the mansion in 2017, and it includes a movie theater, a wine cellar and a great room with 22-foot-high ceilings. Choeff Levy Fischman Architecture + Design designed the home.
In 2017, the Grammy Award-winning rapper sold his house on nearby La Gorce Island in Miami Beach for a discounted $10 million. That property, which featured a skate park on the roof and a shark lagoon, was the subject of a swatting incident, where police were falsely sent to the home.
Lil Wayne’s neighbors on Allison Island include Grammy-winning rapper Future, who in November paid $16.3 million for the 7,250-square-foot, seven-bedroom house at 6493 Allison Road. Insurance broker Laurent Ouazana and Pascale Ouazana sold the property.
Though home sales have slowed down dramatically compared to last year, owners are still listing their waterfront properties for sky-high prices — for both rent and sale. On the Sunset Islands in Miami Beach, developers Jackie Soffer and Craig Robins listed their waterfront home at 2511 Lake Avenue for $45 million.
A recent ranking by The Real Deal revealed that the top rental listings in South Florida range from about $225,000 to $350,000, many of which are in Miami Beach. One of the priciest, the waterfront home at 5718 North Bay Road, is asking $350,000 a month in rent, and hit the market this week for $76.5 million.