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50 Cent Pulls Farmington Mansion Off The Market (Rob Giuffria, GMS) |Prudential Premier Homes

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Managing Real Estate Broker with Tea Leaf Realty

By ROBIN STANSBURY | Special to The Courant | June 2, 2009

Rapper 50 Cent's 50,000-square-foot Farmington mansion is located on 17 acres and has 19 bedrooms and 37 bathrooms, as well as a gym, a disco with a 'dancing' room complete with stripper poles. (Keller William Realty / June 1, 2009)

Rapper 50 Cent's opulent Farmington mansion - priced at more than $14 million - is off the market after nearly two years and no buyers, according to local real estate agents.

The home, which the famous rapper bought in 2003 for $4.1 million, was for sale for 722 days, first with an asking price of $18.5 million. Late last year, the asking price was dropped to $14.5 million in an effort to attract more potential buyers.

In May, the listing contract with Keller Williams Realty's Ridgefield office officially expired, and the property has not yet been re-listed for sale, an agent familiar with the estate said. Keller Williams agents could not be reached for comment Monday.

The 50,000-square-foot mansion on 17 acres has 19 bedrooms and 37 bathrooms as well as a gym, billiard rooms, racquetball courts and a disco with a "dancing" room complete with stripper poles

Past owners of the home include boxer Mike Tyson and real estate swindler Benjamin Sisti, a founder of Colonial Realty, who initially built the estate in 1987.

After 50 Cent (whose real name is Curtis James Jackson III) bought the property, he spent an estimated $10 million on renovations, including a 40-person hot tub inside a grotto.

But even with all those features, the price tag is just too steep for a home in the Hartford area, away from the celebrity world of New York City or Los Angeles, local real estate agents say.

"The house is not worth $1 over $5 million," said Prudential Premier Homes agent Rob Giuffria. "Celebrities often overvalue a house, so they keep dropping in price. That home in that location is not worth anywhere near $14 million and it will never sell for that, no matter how long you leave it on the market."

Comments (1)

Tiffany Torgan
Harcourts Prestige Properties of La Jolla - La Jolla, CA
Featured on HGTV's New Show! How Close Can I Beach

Doesn't sound like the house has a good celebrity track record! You would think though the stripper poles would bring in an extra million!:)

 

Tiffany

Dec 14, 2009 04:01 AM