Def Jam’s Russell Simmons buys wife’s share in penthouse near Ground Zero

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Russell Simmons, the co-founder of Def Jam records and the creator of the Phat Farm clothing line, has purchased his estranged wife’s share in a luxury duplex the couple had owned at 114 Liberty Street, which is across the street from the World Trade Center site.

The home, which was featured on MTV’s “Cribs” before the 9/11 attacks, has been on the market since 2005, when it was listed at $11 million. The condo has since been reduced in asking price to $7.2 million.

Court filings show that Simmons bought Kimora Lee Simmons’ share of the 7,000-square-foot home at $2.32 million on December 3. According to the filing, Simmons has been living in the West Village, while his estranged wife has been living in their Saddle River, New Jersey home. The 49,000-square-foot home in Saddle River, 25 miles out of Manhattan, has also been listed on the market, at $23,888,000.

Neither Simmons nor his wife responded to media inquiries regarding the real estate deal.

Via The Real Deal

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