The musician Lil Wayne just sold his beachfront property in Miami Beach, Florida, for $22.583 million, according to listing agent Cyril Matz of Douglas Elliman.
In 2018, the rapper, whose real name is Dwayne Michael Carter Jr., paid $16.75 million for the modern house, according to property records. He listed it for $29.5 million in September, but he ultimately reduced the asking price to $28 million.
The property is located on Allison Island, a roughly 35-acre island in Biscayne Bay, and has around 110 feet of sea frontage along with a dock. Mr. Matz claims that the home was built in 2017 and has seven bedrooms and roughly 10,600 square feet of area. There’s also a mahogany-paneled foyer and a home theater with suede wall coverings. Access to the garden, which has a large pool, is via sliding glass doors.
Mr. Matz claims that the land is approximately 0.5 acres in size, one of the biggest lots on the island, and faces west with a view of La Gorce Island. He asserted that the property is a serious candidate to be named “the best lot” on Allison Island because of its size and location.
While the market is still strong and there isn’t as much inventory as there was a year ago, he said that buyers are generally less motivated than they were. “Real estate in the right places at the right prices is selling,” he continued. “People are purchasing.”
When compared to the pandemic-affected market in the same period of 2021, the number of sales of upscale single-family houses on Miami Beach fell by 66.7% in the fourth quarter, according to real estate appraisal firm Miller Samuel. A luxury single-family home’s selling price at the median level rose 6.7% in comparison to the previous year. The former owner of Mr. Carter’s Miami Beach residence, which had a shark lagoon and a rooftop skate park, is originally from New Orleans. The selling of that brought him a profit of $10 million in 2017. The musician has revealed his intentions to release the seventh album overall and the following installment in the “Carter” series.
