Rapper and producer Bryan “Birdman” Williams is reducing the asking price of his Palm Island mansion.
The Cash Money Records co-founder cut the price of the property at 70 Palm Avenue in Miami Beach by 15.5 percent to $16.9 million from $20 million amid the slowdown in luxury residential sales.
It’s on the market with Brett Harris and Darin Tansey of Douglas Elliman.
The house is now listed for less than $800 per square foot, which Harris called “a good value for someone looking on a per-foot level.” They’re gearing up to market the property during Miami Art Week and throughout the holidays with about half a dozen showings already scheduled.
Williams bought the house in 2011 from Rockstar Energy Drink founder Russell Weiner for $14.25 million, and spent millions renovating the 20,000-square-foot waterfront home.
Williams, whose net worth was pegged at about $180 million, is reportedly looking to downsize, Harris previously said. The seven-bedroom, 12-bathroom mansion features about 100 feet of water frontage with a dock for a 100-foot yacht, a volleyball court, movie theater, chef’s kitchen, two wine cellars, a four-car garage and a two-car garage, a pool, and a summer kitchen with a pizza oven. It was built in 2004.
The record producer, whose label is home to artists like Drake, Nicki Minaj and Lil Wayne, listed the house in June. Curbed first reported the price cut.