It took five years, but rap artist and fashion designer Diddy finally sold his apartment in the Park Imperial building. Like many owners, Diddy placed his property in the building for sale when the Extell tower One57 went up, blocking once uninterrupted views as it did so. In the meantime, 220 Central Park South has been under construction, as well.
Diddy’s apartment, situated on the 66th floor, initially hit the market at $8.5 million in 2012. But the price was more than a little optimistic, considering the rapidly deteriorating appeal of the residences in the luxury high rise. ‘Law and Order: Special Victims Unit’ Chris Meloni had priced his unit in the building at $12 million, and sold it in a reasonable amount of time for a little under $10 million, but had to sweeten the deal with a Porsche Panamera to seal the deal.
Diddy’s apartment—a former two-bedroom unit converted to a one-bedroom—saw its price deflate to $8 million, then $7 million, and finally asked only $6.5 million as time marched on. It finally sold for $5.7 million cash. Diddy had purchased it in 2005 for a little under $4 million. It didn’t work out as an investment, but at least he’s out from under.
The second bedroom of the 2,300 square foot apartment has been transformed into a media room; additionally, one of the bathrooms has been repurposed as a wet bar. 10’ ceilings, wide plank hardwood, an open concept living area, and floor to ceiling glass give the place a nicely balanced feel, and a bit of transparency.
Sean Combs—or Diddy—has taken home three Grammy awards, and launched Sean John fashion line, and a film production company, in the meantime. His net worth is estimated to be around three quarters of a billion dollars.
