Kaylah Walton
A recent proposal has emerged for Diddy’s luxurious Los Angeles estate, with real estate investor Bo Belmont and his firm, Belwood Investments, putting forth an offer of $30 million for the property.
This figure is notably less than the initial asking price of $62 million listed in September and is even lower than the nearly $40 million Diddy paid for it in 2014.
Belmont’s aim might be to reposition the estate away from its negative perceptions and showcase its potential as a premier residence.
Diddy’s situation continues to evolve
Nonetheless, this offer has raised questions about its seriousness, especially since the property has had difficulty attracting buyers. Experts in the industry believe that the high asking price and the estate’s controversial history have limited its appeal.
Belwood Investments is known for acquiring notable properties at significant discounts. Earlier this year, the firm gained attention by purchasing Kanye West‘s Malibu home for $21 million, a steep drop from the $57 million Kanye originally invested in it in 2021.
Regarding Diddy, real estate matters may be the least of his worries at the moment. He remains in custody at MDC Brooklyn, dealing with serious charges such as racketeering and sex trafficking.
Recently, his legal team achieved a minor success when a judge ruled that notes taken during a raid on his jail cell earlier this month should be destroyed.
“When we visit him in jail, we have lists,” shared Combs‘ attorney Marc Agnifilo in court.
“All information in these notebooks pertains to discussions around trial strategy and how to challenge witness credibility. We cover every aspect with Mr. Combs.”
