After 722 days on the market, 50 Cent has taken his Farmington, Conn. mansion out of the running for a new resident.
The Hartford Courant reports that the 50,000-square-foot home’s asking price of $14.5 million was too much to attract potential buyers.
“The house is not worth $1[dollar] over $5 million,” Prudential Premier Homes agent Rob Giuffria told the newspaper, as he joined local real estate agents in alluding to the mansion’s Hartford area location as a possible factor in deterring buyers.
“Celebrities often overvalue a house, so they keep dropping in price,” Giuffria reasoned.
“That home in that location is not worth anywhere near $14 million, and it will never sell for that, no matter how long you leave it on the market.”
Soon after acquiring the 17-acre home, the rapper spent an estimated $10 million on various renovations.
Prior to dropping the price to $14.5 million late last year, the mansion was initially put on the market for $18.5 million.
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