| Special to The Courant | June 2, 2009
Rapper 50 Cent's opulent Farmington mansion â€” priced at more than $14 million â€” is off the market after nearly two years and no buyers, according to local real estate agents.
The home, which the famous rapper bought in 2003 for $4.1 million, was for sale for 722 days, first with an asking price of $18.5 million. Late last year, the asking price was dropped to $14.5 million in an effort to attract more potential buyers.
In May, the listing contract with Keller Williams Realty's Ridgefield office officially expired, and the property has not yet been re-listed for sale, an agent familiar with the estate said. Keller Williams agents could not be reached for comment Monday.
The 50,000-square-foot mansion on 17 acres has 19 bedrooms and 37 bathrooms as well as a gym, billiard rooms, racquetball courts and a disco with a "dancing" room complete with stripper poles
Past owners of the home include boxer Mike Tyson and real estate swindler Benjamin Sisti, a founder of Colonial Realty, who initially built the estate in 1987.
After 50 Cent (whose real name is Curtis James Jackson III) bought the property, he spent an estimated $10 million on renovations, including a 40-person hot tub inside a grotto.
But even with all those features, the price tag is just too steep for a home in the Hartford area, away from the celebrity world of New York City or Los Angeles, local real estate agents say.
"The house is not worth $1 over $5 million," said Prudential Premier Homes agent Rob Giuffria. "Celebrities often overvalue homes, so they keep dropping in price. That home in that location is not worth anywhere near $14 million and it will never sell for that, no matter how long you leave it on the market."