Will 50 Cent Re-List His Connecticut Mansion After Bankruptcy Filing?

By on July 20, 2015 in ArticlesCelebrity Homes

Rapper and businessman Curtis James Jackson, III, aka 50 Cent, may have just filed for Chapter 11 bankruptcy protection, but that's just his latest financial setback. His 50,000-square-foot mansion in Farmington, Conn., stands empty, after attempts to sell it in 2011 for $10 million never panned out.

Resting on a 17.6-acre lot, the 20-bedroom mansion boasts almost every amenity one could imagine, with a three-story atrium, conference room, and home theater. Dedicated fitness buffs can work out in the indoor gym, swim laps in the indoor pool, the indoor – or outdoor – basketball court, or get in a few sets at the racquetball court.

In warmer weather, the exterior of the house offers distractions and escapes, with an infinity edge pool and grotto, a basketball court and a tennis court with a viewing area. Here is another unusual feature about the property: It has three separate living areas, each with its own kitchen, bedrooms, living rooms and dining rooms. Perhaps this is the kind of estate where family members can break company with each other to follow their own agendas. Another idea is that the original owner, Mike Tyson, didn't want to travel from one wing of the property to the other just to get a sandwich.

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We can't say we're surprised that the massive property is having trouble changing hands. The pool of buyers for such an estate is already small, plus its background is not exactly sterling. It was built by real estate executive Benjamin Sisti, who made his fortune in the 1980s during the heady days of real estate speculation. He was later jailed for fraud. The next owner was "Iron Mike" Tyson, one of the sport's most storied heavyweight boxing champions, to say the least.

It is unclear when the sprawling house will actually be sold, which can make an already tight financial situation even more stressful. Maybe it's a good thing, then, that the mansion has a nightclub with a dance floor, and a helipad. He can drop in to  party it up with a few dozen friends, then skip town again to manage his music and business dealings.

Articles Written by Donna Mitchell
Donna Mitchell is a financial journalist. Before writing about luxury homes for Celebrity Net Worth, she covered the commercial and residential real estate markets for industry publications. She is a native – and lifelong resident – of New Jersey.
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