A new bid has surfaced for Diddy‘s sprawling Los Angeles mansion, with real estate investor Bo Belmont and his company, Belwood Investments, offering $30 million for the property.
This amount is significantly lower than the $62 million price tag the home hit the market with in September and even less than the nearly $40 million Diddy paid for it back in 2014.
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Belmont’s goal could be to shift attention away from the negative associations tied to the 17,000-square-foot estate and highlight its true potential as a luxurious residence.
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However, the offer has raised eyebrows, as it’s unclear how serious the bid is, given the property has struggled to attract buyers. Industry insiders suggest the steep price and the home’s controversial reputation have deterred interest.
Belwood Investments has a history of purchasing high-profile properties at deep discounts. The company made headlines earlier this year for acquiring Kanye West‘s Malibu beachfront house for $21 million-a massive markdown from the $57 million Kanye originally spent on the property in 2021.
As for Diddy, real estate is likely the least of his concerns. He remains in custody at MDC Brooklyn, facing charges related to racketeering, sex trafficking, and other serious allegations.
His legal team recently secured a minor victory when a judge ordered the destruction of notes taken during a raid on his jail cell earlier this month.
“When we visit him in jail, we have lists,” Combs‘ attorney Marc Agnifilo said in court.
“Everything that’s in these notebooks are things we discuss: trial strategy, who we should talk to, to undermine the credibility of a witness. We talk about everything with Mr. Combs.”