Damon Dash's Foreclosed Tribeca Loft selling for $8 Million

By on November 12, 2011 in ArticlesCelebrity Homes

Did you know Damon Dash, who co-founded Roca-a-Fella Records with Jay-Z, is broke-ass now? Dash, who was integral to Jay-Z's success, said he was worth over $50 million in the mid-2000s. Jay-Z and Dash broke off their business ties around that time, with Def Jam buying out Dash's stake of Roc-a-Fella and made Jay-Z president. While many though Dash should have gotten the CEO position, he did get $10 million for his part-ownership. Jay-Z then bought Dash's stake in their clothing line, Rocawear, for $20 million as well.

Related Post: Damon Dash Net Worth

It now looks like though his lavish lifestyle and some failed business ventures, Dash is broke. He reportedly owes $2 million in taxes, been sued a couple times and had his SUV and pricey loft seized last year. Now that Dash is back living the Hard Knock Life and hustling up again, you can snap up his foreclosed loft in Tribeca, New York for only $8.65 million!

Damon Dash's former luxury loft is found in the Tribeca area of New York City. He bought it on loan, along with another condo, totally $7.3 million in the mid-2000s. Unable to sell them, he eventually couldn't keep making the $78,000 monthly mortgage payments (yes, the 3 zeros are not a mistake).

The loft that is on the market has four bedrooms and four bathrooms on prime Tribeca real estate. Featuring soaring 20 foot high ceilings in the living room and hardwood floors. The second floor with the master bedroom has huge walk-in closets and done-out bathroom. The modern kitchen features high-end Sub Zero appliances, such as a double-wide stainless steel fridge.

So hope you enjoyed how Damon Dash used to be living, We'll just have to wait to see what other ventures he pulls off and what he blows those millions on. Until then, Celebrity Net Worth is going to add him to the short list of celebs with an negative net worth.

For another recent riches-to-rags, check out our post on funny-man Chris Tucker who's having his $6 million Florida mansion foreclosed and owes the the IRS $11 million in taxes.

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