According to Cyril Matz of Douglas Elliman, the artist Lil Wayne has recently closed the deal on the sale of the oceanfront home he owned in Miami Beach, Florida. The sale price was reported to be $22.583 million.
According to the property records, the modern home was purchased by the rapper, whose true name is Dwayne Michael Carter Jr., in 2018 for the price of $16.75 million. In September, he put it up for sale with an initial asking price of $29.5 million, but in the end, he decided to lower it to $28 million.
Mr. Matz, who handled the transaction, declined to disclose the identity of the buyer. It quickly failed to get in touch with Mr. Carter for comment.
The site is situated on Allison Island, which is a small island in Biscayne Bay comprising around 35 acres, and it features a dock in addition to approximately 110 feet of water frontage. According to Mr. Matz, the house was constructed in 2017, and it features approximately 10,600 square feet of living space in addition to seven bedrooms. In addition to that, there is a home theater with suede wall coverings as well as a foyer that is paneled in mahogany. Sliding glass doors allow access to the backyard, which features a big swimming pool.
The site, which faces west and has a view of La Gorce Island, is one of the larger ones available on the island, according to Mr. Matz, and is around 0.5 acres in size. He asserted that the lot is a serious contender for the title of “the best lot” on Allison Island because of its size and location.
He claimed that although buyers are generally less impatient than they were the year before, the market is still strong despite the lack of available inventory. “Properties that are priced correctly and are in the right locations are selling,” he continued. People are purchasing.
When compared to the pandemic-driven market in the same period of 2021, the number of sales of upscale single-family houses on Miami Beach plummeted by 66.7% in the fourth quarter, according to real estate appraisal company Miller Samuel. Luxury single-family house sales at the median level had a rise in price of 6.7% from the previous year.
Mr. Carter, a native of New Orleans, once had a house in Miami Beach with a shark lagoon and a rooftop skate park. He sold that in 2017 and made a $10 million profit. The seventh overall album in the “Carter” series will be released, as the musician just announced.