Disgraced Def Jam Co-Founder Russell Simmons Puts His Plush New York Penthouse on the Market for $11 Million – the Same Price He Listed It For Thirteen Years Ago

He originally put his five-bedroom luxury apartment up for sale in 2005 for an eye-watering $11 million, (£8,414,395) before relisting the property again seven years later for the same price.

And Def Jam co-founder Russell Simmons, 60, has now knocked off a cool $1 million from the price tag, marketing it at $9,925,000 (£7,591,880), after trying to sell the plush New York pad for a total of 13 years.

The music mogul has had a run of bad luck trying to sell the apartment, which is situated in the Financial District, and boasts stylish reception rooms and three sprawling terraces.

Up for sale: Def Jam co-founder Russell Simmons, 60, has now knocked off a cool $1million from the price tag, after trying to sell the plush New York pad for a total of 13 years

Up for sale: Def Jam co-founder Russell Simmons, 60, has now knocked off a cool $1 million from the price tag, after trying to sell the plush New York pad for a total of 13 years

However despite its luxury price tag, it’s hard to see why the lavish Lower Manhattan duplex hasn’t sold, judging by its palatial-sized rooms and incredible interior.

Russell certainly isn’t short of space as his home features 7,175 square feet of interior space as well as a colossal 3,500 square feet of outdoor space split among his terraces.

In the heart of the home is a neutrally-toned living space, which has bags of light pouring into the room, centering around a collection of statement coffee tables.

Relaxing: One of the bedrooms, which appears to be a master suit, features a cushioned velvet wall, in keeping with the rooms grey theme, including bedding, a rug and a selection of chaise longue to lounge about onRelaxing: One of the bedrooms, which appears to be a master suit, features a cushioned velvet wall, in keeping with the rooms grey theme, including bedding, a rug and a selection of chaise lounge to lounge about on

Luxury dining: Another bright and airy room in the luxury pad is the property's dining room, the focal point being a winding wooden staircase which takes you up to another level of the phenomenal apartment

The furniture in the room sits on a grey rug, which is elegantly placed over a dark hardwood floor, offering views out into the busting city.

Russell’s pad also boasts a smaller more intimate second reception room, described as the ‘screening room’, no doubt perfect for cosy film nights and hanging out with his pals.

Another bright and airy room in the luxury pad, is the property’s dining room, the focal point being a winding wooden staircase which takes you up to another level of the phenomenal apartment.

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SOURCE: Daily Mail – Charlotte Dean