Sean 'Diddy' Combs has sold the Miami mansion where he hosted his famous White Parties for $55 million (£40.91 million). The property transaction occurred while the 56-year-old music mogul was serving his sentence at a federal prison in New Jersey.
The news came after public property records revealed the sale of the residence at 1 West Star Island, an estate the rapper purchased nearly five years ago for $35 million (£26.03 million) from Gloria and Emilio Estefan. According to reports published by The Real Deal, he offloaded the waterfront home for about $20 million (£14.88 million) more than he originally paid. The buyer is JFStar LLC, a Newport News-based company led by John A. Franklin of Virginia Beach.
