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Diddy’s Mansion Gets Lowball Offer
Music mogul Diddy’s $62 million Holmby Hills mansion has received an offer of just $30 million from investor Bo Belmont. Belmont believes the property is not worth its asking price, saying it was underwhelming upon inspection.
Belmont’s company, Belwood Investments, has emailed the listing agent but has yet to receive a response. Belmont is confident Diddy will consider the offer, citing his company’s previous purchase of Kanye West’s Malibu mansion for $40 million less than his asking price.
If Diddy rejects the offer, Belmont plans to lower it to $27.5 million. He is unfazed by any past activities associated with the house, as he intends to redesign the interior completely.
Real estate experts say Diddy’s high asking price and the stigma surrounding the mansion are hindering its sale. Belmont’s offer seems to acknowledge these issues.
Diddy’s legal troubles may add pressure to sell the property, but it’s uncertain if he will accept Belmont’s significantly lower bid.