According to the selling agent, Cyril Matz of Douglas Elliman, the rapper Lil Wayne has sold his beachfront home in Miami Beach, Florida, for the price of $22.583 million.
Records show that in 2018, rapper Dwayne Michael Carter Jr. (his true name) paid $16.75 million for the ultra-modern home. In September he put it on the market for $29.5 million, but by November he had dropped the price to $28 million.
Mr. Matz, the man in charge of the deal, said he couldn’t say who the buyer was. In a short amount of time, it was unable to reach Mr. Carter for comment.
This waterfront home is situated on Allison Island, a 35-acre island in Biscayne Bay, and has 110 feet of water frontage in addition to a dock. According to Mr. Matz, construction on the seven-bedroom, about 10,600 square foot property began in 2017. There is also a mahogany-paneled lobby and a home theater with suede wall coverings. Sliding glass doors open out to the yard, where there is a large pool.
The approximately half-acre lot faces west and offers a glimpse of neighboring La Gorce Island. According to Mr. Matz, it is one of the bigger lots currently available on the island. Because of its size and location, he said, the property is among the top contenders for “best lot” on Allison Island.
He asserted that the market is robust even if supply is low because purchasers are less impatient than they were a year ago. “Properties that are priced correctly and are in the right locations are selling,” he continued. Consumer demand is high.
According to real estate appraisers at Miller Samuel, the number of sales of high-end single-family homes on Miami Beach dropped by 66.7% in the fourth quarter compared to the pandemic-driven market in the same time in 2021. There was a median price increase of 6.7% for luxury single-family homes sold in comparison to the prior year.
Mr. Carter is from New Orleans, although he had owned a home on Miami Beach complete with a shark lagoon and a skate park on the roof. He earned $10 million from the sale in 2017. The artist recently announced the release of the seventh studio album in the “Carter” series.