Geriatric haven! The demographic at 50 Cent's sprawling 52-room mansion is about to get considerably older now that the financially-strapped rapper has officially found a buyer for the property.
According to TMZ, the massive estate in Farmington, Conn., was sold for $8 million and will be turned into an assisted living center, arguably the nicest in the country!
50 originally listed the estate for $18.5 million nearly 10 years ago, so the old folks certainly got one heck of a deal. 50 had reduced the price several times over the years as he tried to dump the property.
The home has 21 bedrooms, 25 bathrooms and is 50,000 square feet.
The Casa de 50 didn't come cheap for the rapper-turned-actor. He said it cost him $70,000 month to maintain the home that includes 9 kitchens, an outdoor infinity pool and grotto, indoor pool, helicopter pad, casino, nightclub, basketball courts and pond.
Including 50, the estate has reportedly had four previous owners, all of whom unloaded the property as it became too expense to maintain.
In 2003, 50 bought the property from Mike Tyson's ex wife for $4.1 million. He spent another $6 million renovating the house - installing stripper poles, the helicopter pad and a private cinema.
Like we said, the old folks struck it rich with this property.
The folks behind the assisted living center are reportedly modifying zoning so that the home can he converted into senior care center. The petition for a zoning change would require the town's approval, but few expect any kind of road blocks in the process.
50 has been hit with a truckload of financial issues in recent times. He reportedly owes creditors $30 million.
In February, creditors put forth a plan to get their money back from him, but 50 petitioned the bankruptcy court saying the plan violated the U.S. Constitution, claiming that it essentially turned him into a slave.
In his mind, the payment plan creates "a near-indefinite period of involuntary indentured servitude," he said, adding that he would work solely for the creditors' benefit, with no take home money of his own.
50 says, "The plan conditions [50's] access to food and shelter on the whims of the trustee, who answers only to the [creditors]."
Furthermore, he says that the plan amounts to "compulsive labor" which he says is unconstitutional.
Too early to make the "get rich or dying tryin'" joke about the new occupants of 50's property?
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