Russell Simmons Sells New Jersey Mansion for $10 Million
Russell Simmons doesn’t exactly hide his wealth. He just published a book called ‘Super Rich: A Guide To Having It All.’ Simmons continues to add to his hefty bank account with the recent sale of his trademark mansion located in New Jersey for a reduced price of $10 million.
The expansive property was originally listed in August 2006 at an asking price of $24 million. As reported by Homes of the Rich, the Saddle River, N.J. property dropped from that figure to $20 million and then slowly trickled down to the lower asking price. The property runs approximately 35,000 square-feet and has an incredible amount of amenities including a 50-seat home movie theater and majestic indoor pool. The deal was completed on Feb. 15 to a buyer that wishes to remain private.
Simmons lived in the house for years with his ex-wife Kimora Lee. The mansion was actually featured in one of the most well-known episodes of the MTV series ‘Cribs.’ Although many real estate spectators said that its condition was different from those glory days, there were also other furnishing items up for sale when people took tours of the property. These included a $200,000 Faith Ringgold painting, $20,000 bronze lions and $7,500 Versace chairs.