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Musician Nicky Jam relists Palm Island home at a loss
Rapper paid $3.4M for 3,600 sf home in 2018
Nicky Jam is trying again to sell his Miami Beach home — and this time, he’s looking at taking a loss.
Jam paid $3.4 million for the 3,600-square-foot home in Palm Island two years ago, but is now asking just $3.3 million for the property, according to Variety.
He first tried selling the home last year with an asking price of $3.65 million. The ask was eventually dropped to $3.5 million. Eventually, it was taken off the market, then re-listed at its current price. Tony Rodriguez Tellaheche with Prestige Realty Group has the listing.
The home at 240 Palm Avenue was developed by Sabal Development, which paid $950,000 for the development site in 2016. The property was completed in 2016.
The five-bedrooms, five-bathroom home is modern both inside and out, with an open-concept living room and kitchen. Floor-to-ceiling glass windows lead to the backyard and patio, which has a pool. The second floor has a balcony running the length of the house.
The exteriors are mostly right angles with a mix of wood cladding and black-and-white painted stucco.
The lot is about a fifth of an acre and packs in an infinity pool and two-car garage. Residents of the gated community have access to shared tennis and basketball courts.
Businessman Joel Meyerson recently bought a home on Palm Island for $11 million.
[Variety] — Dennis Lynch