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Tory Lanez Faces Foreclosure on Luxury Penthouse Condo in Miami

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Paperwork filed in Miami-Dade County shows rapper Tory Lanez is facing foreclosure on his Florida condo.

The rapper, whose given name is Daystar Peterson, is mentioned in a notice of foreclosure that was filed with the clerk of courts on Feb. 4 and in a separate complaint filed earlier this month.

The property in question is a corner penthouse condo on the 49th floor of Brickell Heights East in Miami. Lanez purchased the three-bedroom unit in late 2018 for $1.8 million.

The 2,182-square-foot unit features views of Biscayne Bay and the city skyline from many of the rooms as well as an oversized balcony. When it was up for sale four years ago, it was marketed as the “absolute best” with “contemporary Italian cabinetry, imported stone countertops, [and] floor-to-ceiling tinted glass walls.”

Brickell Heights




The notice and lawsuit were filed by BH 4908, a limited liability company registered in Florida that sold the condo to Lanez.

Documents show Lanez took out a promissory note with BH 4908 for $1.26 million in 2018.

It included interest-only payments in the monthly amount of $11,057.50 and a balloon payment of $1,237,456.06 due on Dec. 1, 2021.

The court complaint filed on March 1 states that Lanez made only the monthly payments and failed to make the balloon payment.

As a result, the complaint filed with the court includes two counts: mortgage foreclosure and breach of the promissory note.

As part of the foreclosure count, BH 4908 asks the court to be allowed to sell the property and pay off the loan. This would leave Lanez without a place to stay in Miami. We’ll keep an eye on the property to see if it winds up on the market.

The second count asks for judgment against Lanez for the $1.23 million he owes.

Lanez, 29, is a Canadian rapper who released his sixth studio album, “Alone at Prom,” in 2020.

Foreclosure isn’t the only legal drama in Lanez’s life. In 2020, rapper Megan Thee Stallion accused Lanez of shooting her after an argument. He faces trial in California on charges of assault with a semiautomatic firearm and carrying a concealed, unregistered weapon.

The post Tory Lanez Faces Foreclosure on Luxury Penthouse Condo in Miami appeared first on Real Estate News & Insights |®.

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