Rockstar Energy Drink CEO Buys Scott Storch’s Foreclosed Home
DAMN!!!!!!! WHAT A STEAL FOR WHERE THIS HOUSE IS, THE SIZE AND TWO POOLS
Over the past couple years we touched on the rise and fall of music producer Scott Storch. His Miami home was eventually foreclosed on as part of his financial meltdown. Now Russ Weiner, the CEO of Rockstar Energy drink has announced that he is the new owner of Villa Ferrari, Storch’s former 20,000 square foot home on Palm Island. The mansion has a 100 foot boat dock, 11 bedrooms, 15 bathrooms, 3 guest houses and two pools. Last summer we learned that after Storch declared bankruptcy, SunTrust bank, which held two mortgages worth a combined $7.75 million against the property, bought the property back at auction on for $5.5 million. Storch had bought the home for $10.5 million but it had been listed for $13.9 million. Alex Shay found that SunTrust sold the property to Weiner Russell Trust for $6.75 million. According to Shay the house was, like many homes that have gone through a prolonged foreclosure, not in great shape and that renovation is needed.
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This is what I have been talking about. Income minus expenses. Producers and artist that were making money when people were buying CD’s are still out here spending like people are still buying their music. They are still consuming at the same rate that they were when the market was totally different. All the people that were balling so hard in the 90′s are going to have to revamp their finances and realize the product that they are producing pretty much is free now!!
I guess once you go up it’s hard to come back down. When the market changes you better make adjustments fast or just get into a new market. I am not happy about Scott losing his spot, but I can’t understand how you can make that kind of money and not set up other multiple income streams away from the music business.
SPOCK
damn SPOCK you are talking that sense!!!! You would think that with all that money he made from making music, he would have invested and found other ways to make more money…..guess not
There’s a WHITE girl in town! Her name is COCAINE get inside your brain
play you like a LAME! That’s that KILO and that shit will make you lose everything
i don’t care who you are!
I’m no Fan of Scott. his name might have been tied to some hits in the past, but when i think of heavy hitter producers i dont think of Scott. The dude played down Riffs. And he got shit loads of money for it. Some people if they are being honest with you would say he was over rated and over paid. And he blew all his money on bullshit. i think i even read somewhere that he had a drug problem too which is where a lot of his money went. I’m sorry but if you are makin that kinda money doin as little as it seemed like he did. he should be havin fuckin Diddy money. That foo should have been swimmin in his riches like Scrooge McDuck in Ducktales. but instead hes broke. now i dont wish that kinda stuff on anyone, but when you do it to yourself there isnt much we can feel sorry for u about.
Spock is right tho, this is a whole new ball game now a days. you got to watch how you spend your money. it aint about how much money you can blow any more. its all about the last one standing. Id rather not buy shit i dont really need and still be rich 20 years from now,then to buy a bunch of shit i dont need every week and be broke within a couple years. maybe thats just me tho.
[...] CEO Russ Weiner, for a reported $6.75 million. Storch bought the crib for $10.5 million. Even Jermaine Dupri recognizes a bargain when he sees one. More pics after the [...]
I BET WHEN THEY SWEPT AND DUSTED THE RECORDING STUDIO…THEY WOULD CAME OUT THERE WIT A KILO!
COCAINE IS A HELL OF A DRUG…MAKE YA SELL ALL YOUR ASSETS
[...] [Article taken from Global 14, Jermain Dupri] [...]
It’s a steal when U see the value and the potential!!!!!!!
A 100 foot boat dock, 11 bedrooms, 15 bathrooms, 3 guest houses and two pools…all for less than 7 millie! That really is a bargain! Then again, it also depends on how much renovation the house needs.
Its sad that he made drugs more important than anything else in his life. Doesn’t he have kids?
Makes me wonder how many musicians actually have drug addictions that no one knows about.
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Side note: Does anyone know if Russell Simmons ever sold his Saddle River, NJ mansion?
JD, can I get a loan to purchase that home? I was in LOVE with it, when it featured on Cribs.
Damn!!! is right.
He shouldn’t have spent all his money buying worthless shit, like 12 foreign cars that he couldn’t afforded in the first place.
Sad……… Poor Scott!!!!!!!!!!! Can he bounce back Lifers? What say u?
Is Shawntae still in jail? I read something about her escaping — was that ever true? When will she be out? I cannot wait — I hope she’s going to have an easier time once she’s released.
Cindy Taylor
Chicago, IL