Russell Simmons selling 13-room penthouse in Manhattan's financial district

By: Urban Hustler Staff

Forbes.com reports that entrepreneur Russell Simmons has put his 13-room 9,000 square feet penthouse in Manhattan's financial district on the market for $11 million, twice as much as he orginally planned to sell it for four years ago.

The duplex has four bedrooms, four and a half baths, two kitchens and a dramatic curving staircase. It has been vacant since 2001, when Simmons and his family moved to Saddle River, N.J.

In 2001, Simmons was to sell the apartment to Sean "P. Diddy" Combs. However the deal was disrupted by the Sept. 11, 2001 terrorist attacks, which damaged the house. Simmons kept the apartment on the block without lowering the $6 million asking price but there were no takers.

Since then, the apartment has been renovated, and Manhattan real estate prices have increased, accounting for the almost doubling of the asking price.