The musician Lil Wayne just sold the oceanfront property he had in Miami Beach, Florida, for the sum of $22.583 million, according to the listing agent, Cyril Matz of Douglas Elliman.
The rapper, whose real name is Dwayne Michael Carter Jr., bought the modern house in 2018 for a price of $16.75 million, according to the property records. He listed it for sale in September at a price of $29.5 million, but he ultimately reduced it to $28 million.
Mr. Matz, who handled the transaction, declined to disclose the identity of the buyer. It quickly failed to get in touch with Mr. Carter for comment.
The property is located on Allison Island, a roughly 35-acre island in Biscayne Bay, and it has a dock and around 110 feet of sea frontage. The home, which has seven bedrooms and around 10,600 square feet of area, was built in 2017, according to Mr. Matz. Additionally, there is a home theatre with suede wall coverings and a mahogany-paneled foyer. Access to the garden, which has a huge pool, is provided by sliding glass doors.
The site, which faces west and has a view of La Gorce Island, is one of the larger ones available on the island, according to Mr. Matz, and is around 0.5 acres in size. He asserted that the lot is a serious contender for the title of “the best lot” on Allison Island because of its size and location.
He claimed that although buyers are generally less impatient than they were the year before, the market is still strong despite the lack of available inventory. “Properties that are priced correctly and are in the right locations are selling,” he continued. People are purchasing.
When compared to the pandemic-driven market in the same period of 2021, the number of sales of upscale single-family houses on Miami Beach plummeted by 66.7% in the fourth quarter, according to real estate appraisal company Miller Samuel. Luxury single-family house sales at the median level had a rise in price of 6.7% from the previous year.
Mr. Carter, a native of New Orleans, once had a house in Miami Beach with a shark lagoon and a rooftop skate park. He sold that in 2017 and made a $10 million profit. The seventh overall album in the “Carter” series will be released, as the musician just announced.