50 Cent, rapper, actor, and Vitamin Water investor, owns one of the largest homes in America. At 51,657 square feet, his mega-compound found at 50 Poplar Hill Drive in Farmington, Conn. dominates the neighborhood it resides in. Considering its 52 rooms and 17 acres–including mountain views, nine kitchens, an NBA regulation-size basketball court, a helipad, and more–itâ€™s shocking, quite honestly, that its owner filed for bankruptcy earlier this year.
TheÂ history of this cribÂ has been a bumpy one. Originally built in 1985 for Benjamin Sisti, the co-founder of Colonial Realty (later found out to be a Ponzi scheme), the mansion was purposely built with aggrandizing visions in mind. In fact, the mansion is five times larger than Farmingtonâ€™s second-largest home. But 50 Cent wasnâ€™t the only of its owners to have financial troubles. After Sisti plead guilty to bankruptcy fraud, Peopleâ€™s Bank bought the home and sold it to Romas Martsinkiavitchous, a Lithuanian import-export business owner, for $2.7 million in 1993. When he faced possible foreclosure and accumulating back property taxes, MartsinkiavitchousÂ hawked it to Mike Tyson for $2.8 million.
Tyson added a lot to the property in order to make it his own. According to The Wall Street Journal, the boxer added an indoor discotheque with a smoke machine and computerized DJ booth that fits 1,000 people, a giant neon â€śClub TKOâ€ť sign, an indoor gym, an indoor shooting range, and a racquetball court, among the many other toys and features that purportedly cost Tyson millions.
As part of a divorce settlement, Tysonâ€™s home was awarded to his now ex-wife Monica Turner, who then sold it to 50 Cent for $4.1 million. The rapper spent an additional $6-10 million renovating the property toÂ hisÂ liking, adding an infinity pool, grotto, a movie theater and the aforementioned helicopter pad, according to The Courant.
In a segment with Oprah Winfrey filmed on location in 2012, 50 Cent was confident he wouldnâ€™t have the same financial troubles that plagued Tyson, saying, â€śMike [Tyson] earned over $400 million. He sold the property to me when he couldnâ€™t keep it. So it keeps you conscious of it.â€ť
In 2007, the rapper asked $18.5 million for the mansion and its 17 acres. That price was reduced four times, says The Courant, to $10 million by the end of 2010. Since then, itâ€™s been on and off the market several times. Now, itâ€™s once againÂ relistedÂ by Douglas Elliman (for $8.5 million) and seeking a suitable (and preferably, loaded!) buyer. 50 Cent claims that the mansion costs about $67,000 a month to maintain.
Additional features include a green screen room, a recording studio, a conference room, an indoor pool and hot tub, and more, perfect for the next up-and-coming rapper, pro athlete or hot shot CEO. (Financial advice not included.)
Listed for: $8.5 million
This post was originally published on RISMedia’s blog, Housecall. Check the blog daily for winning real estate tips and trends for you and your clients.