August 2, 2021

DCTRS

Damascus Center for Theoretical and Civil Rights Studies

Russell Simmons seeks $5.5 million for New York penthouse

The real estate jettison continues for Russell Simmons, the embattled Def Jam co-founder who stepped down from the label following accusations of sexual misconduct across multiple decades. After finding no takers at $9.925 million, he just relisted his New York penthouse for $5.5 million.

It’s the second home Simmons has tried to sell since the allegations surfaced. In 2018, he unloaded a Spanish-style hideaway above the Sunset Strip for $8.125 million.

Records show he bought this one for $2.32 million in 2007. It’s found in Manhattan’s Financial District and offers 7,175 square feet of interiors and 3,500 square feet of landscaped terraces.

A private landing leads to living spaces complete with 12-foot barrel ceilings above oak strip floors. Highlights include a living room, dining room, screening room, chef’s kitchen with a breakfast nook and library with a fireplace.

An architectural staircase winds its way upstairs, where three sets of French doors in the primary suite opens to a south-facing terrace — one of three attached to the condo. The top level also holds a den and kitchenette. Five bedrooms and 4.5 bathrooms complete the two-story floor plan.

Simmons, 63, co-founded Def Jam Recordings with Rick Rubin in 1984, and the hip-hop label’s current artist roster includes Kanye West, Big Sean, Nas, 2 Chainz and Pusha T. In 2017, The Times published multiple reports of sexual misconduct allegations against Simmons, which he has denied.

Carl Gambino of the Modlin Group holds the listing.