Just a year after Birdman sold his cursed Miami mansion for $ 11 million, the new owner is moving it for $ 34 million

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Palm Island is an artificial island in the middle of Biscayne Bay in Miami. There are 136 luxury houses on the pill-shaped island, 98 of which are located directly on the sea. There are currently 16 homes for sale on Palm Island. The cheapest home for sale today is a $ 5 million worth of 3,400-square-foot lot in the center of the island … so it doesn’t have an ocean view. The most expensive home for sale on Palm Island today is a newly built, 15,000-square-foot mansion on the ocean side that is currently listed for just under $ 50 million.

Today we’re talking about the house on 70 Palm Ave. This mansion, which recently went on sale for $ 33.9 million, has a pretty amazing history of having two hip-hop entrepreneurs, a bankruptcy, an energy Drink billionaire and so much more …

About the MLS / Lourdes Alatrist

From scratch to stork

Whoever built this house bought the land and the house that stood there in 1999 for $ 1,135,000. That price was $ 57 per square foot for the buyer. Spoiler alert, at $ 33.9 million, the current seller is asking for $ 1,700 per square foot.

The previous structure has been demolished and replaced with the 20,000 square meter 7 bedroom villa you see in the photo above. Construction was completed in 2004.

Whoever built the house only lived there for about a year before putting it on the market.

Past the stork

In 2006 hip-hop producer Scott Storch was at the absolute height of his career. In recent years, the beatmarker has produced hit tracks for artists such as 50 Cent, Beyonce, Snoop Dogg and Chris Brown. In 2005 alone he produced the following songs:

  • “Candy store” from 50 cents
  • “Just a little bit” of 50 cents
  • “Run in!” by Chris Brown, with Juelz Santana

Storch had a great career, but he needed the huge Miami mansion to complete the picture. In May 2006, Scott paid $ 10.5 million for 70 Palm Ave. He parked his recently purchased $ 20 million yacht “Tiffany” in front of the door.

Unfortunately, at this point in his life, Scott was also reportedly spending an ungodly fortune on his lifestyle. Notoriously, he spent $ 30 million in six months. By his own estimate, Scott was spending $ 250,000 a month on parties alone during that time.

Scott Storch’s party ended just a few years later. His yacht was confiscated and a bank at 70 Palm Ave was foreclosed.

A rock star flip

In February 2010, billionaire Rockstar Energy Drink founder Russ Weiner bought the house from foreclosure from the bank for only $ 6.75 million. That’s about $ 4 million less than Storch had paid four years earlier.

Weiner hardly touched the place. No renovations. No big changes.

In 2012 Russ Weiner sold the house to rap mogul Bryan “Birdman” Williams for $ 14.5 million. That sale made Weiner $ 7.75 million in profits for only holding the house for two years. In other words, Russ was essentially getting $ 3.875 million a year to live on 70 Palm Avenue. That’s $ 323,000 a month. That’s $ 10,666 a day … Living in a luxury oceanfront mansion in Miami.

Put some respect on his name

When he was the proud owner of 70 Palm Ave, Birdman poured millions into renovations and furnishings. He notoriously paid $ 2 million for a toilet made of gold.

In June 2017, it was Birdman’s turn as a salesperson. He listed the property for $ 20 million.

Unfortunately, the house languished in and out of the market for the next three years, showing up regularly at a discounted price.

Birdman went from $ 20 million to $ 16.9 million to $ 15.5 million to $ 14.5 million to $ 13.9 million to $ 12.9 million lowered …

On July 23, 2020, Birdman finally had a buyer. The sales price was $ 10.85 million. For the co-founder of Cash Money Records, that meant a loss of $ 3.65 million.

400 days later

As first noted by Dirt.com whoever bought 70 Palm Ave from Birdman wants to get an absolutely unreal flip. After buying the home for $ 10.85 million just 400 days ago, the current owners have just listed the property for $ 33.9 million.

To be fair, the owners have done an almost complete renovation, adding new floors, windows, and bathrooms. They also apparently turned Birdman’s recording studio back into a guest house.

You can see their impressive upgrades in this recently published property tour courtesy of realtor Lourdes Alatriste:

Wherever Birdman has moved, I hope he doesn’t have great wifi for a couple of days. I don’t think he’ll be happy to hear what’s going on over at 70 Palm Avenue 🙂

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