Pharrell Williams’ Miami Home Lists for 35% Less

The Real Deal has reported that famed rapper and producer Pharrell Williams has reduced the price of his Miami Brickell condo for sale to $10.6M. This is down from the previous listing price of $16.8M in the last quarter of 2012.  In January of 2013, the rapper marked down the value to $13M+, according to Yahoo! Homes.

The home was previously owned by developer Ugo Columbo, who resided in the property prior to Williams’ purchase. Miami Curbed reports that the entertainer paid $12.5M for the property in 2007. This new markdown is unlike other trending property value increases like the former home of Yankees’ Alex Rodriguez in Miami Beach, which earned $15M in profits.

The penthouse features three floors, a summer kitchen, seven garages, a rooftop terrace and excellent views of the bay. The interior has a white spiral staircase, a great room, and other enviable amenities that sit 40 stories high.

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Property Name: Bristol Towers
Address: 2127 Brickell Avenue, Miami, FL, 33130
Year Built: 1993
Type: condo
Units: 247
Number of Floors: 40
SF: 9,080
Floor Plan: 5 BR/6.5 BA
Price: $10.6 Million

Listing Broker: Coldwell Banker

Sources: The Real Deal, Miami Curbed
Photo Credit: Yahoo! Homes
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty