Diddy’s failed Park Ave. megamansion finally sells at a steep discount

Hip-hop mogul Sean Combs (better known as “Diddy” or, before that, “Puff Daddy”) heads a business empire that ranges from music to fashion and vodka.

Lesser known, perhaps, is the fact that he once tried to develop an Upper East Side megamansion.

Last asking $26.5 million, the well-located building, at 807 Park Ave., just sold for $24 million, according to city property records. That’s a steep discount — 38 percent — from its 2017 asking price of $39 million.

Sean "Diddy" Combs
Sean “Diddy” CombsGetty Images for Sean Combs

Diddy bought the 12-story, 24,000-square-foot building between East 74th and East 75th streets for $12 million in 1998 after living in one of its units. At some point, he scrapped or abandoned plans to turn it into a megamansion. He then sold it for $14.3 million in 2004 to Aion Partners.

Since then, Aion has tried several tactics on the site — including trying to sell three four-story condos priced between $12 million and $16 million, a demolition attempt and then putting the entire building on the market.

Built in 1932, it is currently configured as three separate townhouse-like apartments that are four floors apiece and around 5,000 square feet, with five or six bedrooms and their own elevators.

The units could generate income, house a family compound, or be combined into a megamansion, noted listing brokers Alexa Lambert, Timothy Desmond, Linda Melnick and Marc Achilles, of Compass.

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