Miami Condo Market and Lifestyle Updates
Lil Wayne Could Lose House in Contract Dispute

Lil Wayne Could Lose House in Contract Dispute

by Sep Niakan | June 18, 2013

Even after paying nearly $7.75 million in back taxes owed to the IRS, rapper Lil Wayne may still lose his La Gorce Island waterfront home thanks to the resulting legal fees and fines from a contract dispute in California late last year. The performer’s production company, Young Money, owes $3.4 million that it has been unable to pay, leading to a potential seizing of assets by Miami authorities. In addition to the $11.6 million house, Wayne’s prized car collection is also up for grabs to creditors.

The lawsuit was initiated by Quincy Jones III and, as the plaintiff, is entitled to the receipt of all legal fees collected from Wayne in the case. Last year, Lil Wayne, born Dwayne Michael Carter, Jr., listed the house for sale for $12.9 million but no interest has yet been indicated in its purchase. It is thought that the rapper purchased the home for $14 million in 2010.

 

Photos of Lil Wayne's La Gorce Island home:

See more pictures here

Recent posts

Lifestyle

Car-free in Miami: How to Give Up Your Car for Lyft and Uber . . . and Love it.

by Sep Niakan | November 29, 2016

This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...

Real Estate News

How Miami Condo Sales Will Benefit from New FHA Lending Rules

by Sep Niakan | November 24, 2016

Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...

Real Estate News

Reflecting on BrickellHouse Robotic Parking Garage Failure

by Sep Niakan | November 22, 2016

It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...

Real Estate News

What’s behind Downtown’s Latest Population Explosion?

by Sep Niakan | October 31, 2016

From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...