50 Cent’s Mansion Will Be Turned Into a Senior Living Facility
50 Cent's old mansion is going to get some new residents. TMZ reports that the G-Unit rapper's estate in Farmington, Connecticut will transformed into an assisted living facility by its new owner, pending the town's approval.
The 52-room home was reportedly sold for $8 million. This was $10.5 million less than what 50 Cent was asking for the mansion when it first went up for sale in 2007. The estate, which includes 21 bedrooms and 25 bathrooms, was going for $18.5 million when it originally hit the market almost 10 years ago.
50 Cent dropping the asking price was likely necessitated by his current financial woes, which have seen the rapper file for bankruptcy. The massive estate reportedly cost 50 Cent about $70,000 each month just to maintain.
It will be interesting to see if the mansion's sale affects 50 Cent's ongoing bankruptcy case in some way. The case has taken its fair share of twist and turns as 50 recently claimed that his assets were worth $16 million. This was refuted by appraisers, who did some digging into 50's financial status.
Appraisers found that 50 Cent was actually worth $64 million. In documents obtained by the Daily Mail, 50 was said to have $10 million in checking and stock. Appraisers also noted that his G-Unit imprint and other business ventures were worth more than $44 million.
The judge handling 50 Cent's bankruptcy case has reportedly been concerned with the G-Unit boss' affinity for posting photos of his money. The pictures, which include the infamous photo of 50 spelling out "broke" in stacks of $100 bills, have caused the judge to question the validity of the rapper's bankruptcy.
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