Recession has seen the mighty fall in a big way over the last couple of years. Music producer Scott Scorch known for his hip hop tunes with artists such as Justin Timberlake and G Unit was one of those. He had to foreclose his Miami home as part of the economic downslide.
News now is that Rockstar Energy drink;s CEO Russ Weiner has announced purchase of the Miami villa otherwise known as Villa Ferrari. It is Storch’s 20,000 square foot home on Palm Island. Storch’s former dream home has a 100 feet boat dock, comprises of as many as 11 bedrooms and 15 bathrooms, three guest houses and two pools.
After the high flying music producer Storch declared bankruptcy, SunTrust bank that held two mortgages worth a combined $7.75 million against the property bought it at auction on for $5.5 million. It eventually sold the house to Weiner Rusell Trust for $6.75 million.
Apparently, like other homes that have witnessed a prolonged foreclosure, renovation is needed for Weiner’s newly acquired villa too. Considering the location and deal though, Russ Weiner can rest happy for his enviable catch.
Storch had earlier bought it from APR Palm Partners, a Florida general partner ship.
Via: Rockstar69, haladdin