According to the venerable International Herald Tribune, music mogul Damon Dash and his fashionista wifey Rachel Roy are facing foreclosure on a couple of Manhattan condos. Property records show the hip hopping couple own a dee-luxe doo-plex at the Atalanta building on N. Moore Street as well as a triplex penthouse located atop The Sugar Warehouse building on Laight Street.
According to property records, reports and court filings, the alliteratively blessed couple carries a whopping $7,300,000 mortgage on the N. Moore Street condo, which is comprised of two combined units. Mortgage holder Eastern Savings Bank, the entity that initiated the uglee foreclosure proceedings, claims the couple were meant to be making monstrous monthly payments of $78,500, a number that is larger than most people in this country make in an entire year.
Listing information shows that Mister and Missus Dash recently had the 2 bedroom and 2 bathroom Laight Street triplex on the market for $3,650,000 which would have put some paper in their pockets, but the penthouse appears to have been taken off the market recently.
Your Mama can not fathom how a man who recently told New York Magazine that he estimated his net worth to be "around $50 million" could possibly find himself facing foreclosure, but apparently and allegedy he is. Must be some kind of trouble in Mister Dash's hip hop paradise. Or, as we're sure his people will proclaim, it's all just some sort of mistake that will be cleared up toot-suite.
Some of the children surely recall that Mister Dash sold his big Beverly Hills abode in May of 2007 for a reported $3,600,000.