Not so fast! 50 Cent's sale of 52-room Connecticut mansion for cut price of $8 million 'contingent on buyer getting permission to turn it into a nursing home'

  • 50 Cent - real name Curtis Jackson III - bought the 21-bedroom, 25-bathroom pad for $4.1m from boxer Mike Tyson in 2003
  • He then added $10m renovations - including a disco with stripper poles
  • The rapper, 40, filed for bankruptcy last summer after he was ordered to pay $7 million to a woman who said he posted her sex tape online 
  • It's now claimed sale is contingent on buyer getting zoning approval to make property a nursing home 

By Rachel Mcgrath For Dailymail.com

Published: 21:36 EST, 3 March 2016 | Updated: 23:43 EST, 3 March 2016

Rapper 50 Cent may have found a buyer for his Connecticut mansion but he's not likely to get his hands on the $8 million right away.

The artist, whose real name is Curtis Jackson III, sold his sprawling 21 bedroom, 25 bath home to a developer who wants to turn it into an assisted living facility for the elderly.

But, according to TMZ Thursday, the sale won't go ahead if the buyer is unable to secure a change in zoning to allow the business to be established at that location or if the bankruptcy judge handling 50 Cent's case doesn't sign off on the sale.

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Sold, maybe: 50 Cent sold his Connecticut mansion for the cut price of $8 million, but it's claimed the sale will only go through if the buyer gets permission to turn the sprawling estate into an assisted living facility

Sold, maybe: 50 Cent sold his Connecticut mansion for the cut price of $8 million, but it's claimed the sale will only go through if the buyer gets permission to turn the sprawling estate into an assisted living facility

Court approval: The bankruptcy judge in charge of the rapper's case must also be willing to sign off on the deal regarding one of the largest private residences in the U.S.

Court approval: The bankruptcy judge in charge of the rapper's case must also be willing to sign off on the deal regarding one of the largest private residences in the U.S.

The website says that lawyers for the rapper are hoping to close the deal by April 29.

And the money won't actually end up in the rapper's bank account since the reason he's selling the pad is to be able to pay off his creditors.

He filed for bankruptcy last summer after a New York City jury ordered him to pay $7million to Lastonia Leviston for posting - with his own mocking commentary - a sex tape of her on his personal website.

Leviston, 36, who has a child with Jackson's rapper rival Rick Ross, said the tape destroyed her life and drove her to the brink of suicide.

Get rich or die tryin': The home, based in Farmington, Connecticut, boasts a number of opulent features including a swimming pool and private casino

Get rich or die tryin': The home, based in Farmington, Connecticut, boasts a number of opulent features including a swimming pool and private casino

Incredibly pricey: As part of his bill of $72,000 a month to maintain the property, 50 Cent spends $5,000 on gardening

Incredibly pricey: As part of his bill of $72,000 a month to maintain the property, 50 Cent spends $5,000 on gardening

50 Cent was also embroiled in a $18million lawsuit over his headphones businesses, and says his costly legal woes have forced him to file for Chapter 11.

The musician has sold more than 22 million albums, and Forbes once estimated the entertainer and businessman's net worth at $150 million.

The fortune came largely from his business interests in clothing, beverages and music technology.

Sports fan: The Candy Shop singer larked about on his private basketball court in this social media snap

Sports fan: The Candy Shop singer larked about on his private basketball court in this social media snap

Grandiose: The artist is seen posing in front of his waterfall in his lavish back garden in a photo he shared on Instagram

Grandiose: The artist is seen posing in front of his waterfall in his lavish back garden in a photo he shared on Instagram

He snapped up the incredible estate from boxer Mike Tyson for $4.1 million at the height of his fame in 2003, the year he released some of his top hits P.I.M.P., In Da Club, and 21 Questions on the album Get Rich Or Die Tryin'.

Over the next few months, he invested up to $10 million in renovations to the property's gym, racquetball courts, and disco room with stripper poles.

The 50,000-square-foot home boasts 25 bathrooms and is one of the biggest private residences in America.

Personal playground: 50 Cent posted this photo on Instagram of him and some friends enjoying his mansion's private casino 

Personal playground: 50 Cent posted this photo on Instagram of him and some friends enjoying his mansion's private casino 

 

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