The real estate jettison continues for Russell Simmons, the embattled Def Jam co-founder who stepped down from the label following accusations of sexual misconduct across multiple decades. After finding no takers at $9.925 million, he just relisted his New York penthouse for $5.5 million.
It’s the second home Simmons has tried to sell since the allegations surfaced. In 2018, he unloaded a Spanish-style hideaway above the Sunset Strip for $8.125 million.
Records show he bought this one for $2.32 million in 2007. It’s found in Manhattan’s Financial District and offers 7,175 square feet of interiors and 3,500 square feet of landscaped terraces.
A private landing leads to living spaces complete with 12-foot barrel ceilings above oak strip floors. Highlights include a living room, dining room, screening room, chef’s kitchen with a breakfast nook and library with a fireplace.
An architectural staircase winds its way upstairs, where three sets of French doors in the primary suite opens to a south-facing terrace — one of three attached to the condo. The top level also holds a den and kitchenette. Five bedrooms and 4.5 bathrooms complete the two-story floor plan.
Simmons, 63, co-founded Def Jam Recordings with Rick Rubin in 1984, and the hip-hop label’s current artist roster includes Kanye West, Big Sean, Nas, 2 Chainz and Pusha T. In 2017, The Times published multiple reports of sexual misconduct allegations against Simmons, which he has denied.
Carl Gambino of the Modlin Group holds the listing.
Source: latimes.com