Hip-hop magnate Russell Simmons has bought a new home in Los Angeles for about $5.875 million, according to reports.
The Real Stalker reports that the Spanish style home comes complete with five bedrooms and 7.5 bathrooms in 5,979 square feet of completely renovated interior space that includes at least three fireplaces (plus one more outside), loads of custom wrought iron work, scores of vintage light fixtures, scads of (inlaid) tile and stone flooring .
The walled, gated and high-hedged residence also has a 1,500 bottle wine cellar and tasting room hidden behind a secret door. In addition to the swimming pool and elevated spa, the lushly landscaped backyard also includes a vine-covered arbor that leads to a secluded outdoor lounge area with massive tile-accented outdoor stone fireplace, the report notes.
The Def Jam founder sold his South Hampton mansion for $7 earlier this year, and his 7,175-square-foot Manhattan Financial District penthouse has been on and off the market since before 9/11 with an asking price of $11 million. Simmons is now trying his luck by investing in West Coast real estate.
Russell Simmons and his model turned fashion designer ex-wife; Kimora Lee Simmons put their t 35,000 square foot mega-mansion in Saddle River, NJ on the market in 2007 for a hefty asking price of $23,888,000. After four years on the market with ever decreasing price tags finally agreed to sell the lavish spread for $10 million to an unknown corporate entity.
