P. Diddy has slashed the asking price on two properties he has on the market.
The 'Hello Good Morning' rapper - who has an estimated fortune of $580 million - may have be crowned the wealthiest artist in hip-hop in 2013 by Forbes magazine, but he'll still feel the hit after lowering the value of his Manhattan apartment in New York City by a staggering $600,000 and cutting his Alpine, New Jersey, estate by $3.6 million.
The 43-year-old music mogul's West 56th Street apartment was designed specifically for entertaining and at an astonishing 2,292 square feet, is complete with a fancy piano room, wet bar and a marble foyer, but Diddy has been forced to list the 66th floor property on the market for a mere $7.99 million in comparison to its $8.5 million price tag in 2012.
The star who attempted to sell his Alpine manor - which was ranked as America's most expensive area by Forbes last year - for $13.5 million seven years ago has had to put the asking price down to $9.99 this year. The posh pad has seven bedrooms, nine bathrooms, a putting green, tennis court and an aquarium.
Diddy - real name Sean Combs - wants to offload the properties because he is spending most of his time in Miami.
A source told the New York Post newspaper: ''Diddy's spending more time at his $30 million mansion in Miami, on Star Island. It makes sense for tax reasons.''