Dash Loses New York Apartments To Foreclosure
DAMON DASH's two New York City apartments have been auctioned off by authorities, two years after the rap entrepreneur fell behind with mortgage payments.
The Roc-A-Fella Records co-founder was slapped with $9 million (£6 million) in liens on his homes in the TriBeCa district of Manhattan in 2008, and the properties were offered up at auction at New York State Supreme Court on Wednesday (28Jul10).
The apartments were offered as a pair for almost $8 million (£5.3 million), but when the package failed to sell, they were re-listed separately.
One of the condos was sold for $5.5 million (£3.7 million), while the other did not meet the reserve price of $3 million (£2 million), so the Eastern Saving Bank now owns the home.
The auction was ordered after Dash was sued for failing to hand over the $78,504 (£52,340) monthly payments on a combined $7.3 million (£4.9 million) mortgage on the homes.