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Ice-T

Burned on Condo Sale

... LOSES $250k

8/19/2012 5:00 AM PDT BY TMZ STAFF
EXCLUSIVE

0817_ice_t_coco_miami_condo_launch
It's a good thing Ice-T knows how to act, rap, and carry a reality TV show ... because dude just took it in the shorts -- selling off his Miami condo for almost a quarter million LESS than he paid for it, TMZ has learned. 

Ice-T -- real name Tracy Marrow -- bought the 1,956-square-foot beachfront Miami pad back in 2007 for a whopping $1.53 million.

But Ice just sold the 3-bedroom, 3-bath, stark white crib for a measly $1.29 million ... which our sharp math mind calculates to be a $240,000 hit.

The condo's got ocean views, marble floors and other awesome amenities ... like concierge service, pool, spa, gym ... and of course a sauna AND steam room.

Coco tells TMZ, "We don’t go to Florida as much as we used to anymore. We have a lot of other properties that we love, so we just made the decision to get rid of this one."

35 COMMENTS

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16.

Poopey Poopstein    

I wonder if it is extra large toilet seats for Coco's giant azz?

764 days ago
17.

BD    

"I'll never go broke, I got property." --Ice-T

764 days ago
18.

MIKE    

ICE T NOT THE SHARPEST TOOL IN THE SHED ANYWAY,LOOK WHO HE MARRIED,AN X HOOKER

764 days ago
19.

roger    

this is at the SAYAN in Sunny Isles Beach -- that's actually one of the smaller type condo's in that boutique building with only about 65 units compared to the other high rises which have 100's of units and are 60% empty.. the condos on sunny isles hold their value relatively well.

764 days ago
20.

Gary    

What's the rub ? Anyine selling any proporty in this depression would lose the same amount of moneyIt has nothing to do with Ice-T.
It's the economy,stupid.

764 days ago
21.

CriticXtreme    

With the uncertainty of 12.21.2012, no one in their right mind would want to be anywhere near water.

764 days ago
22.

Kelly    

He doesn't care. He could have taken a much bigger hit or been stuck with it. What's that, thee fee for an episode and a half of L&A (or whatever)?

764 days ago
23.

YdoIreadthisstuff    

That is the ugliest home I have ever seen. I'm surprised anybody bought it at all.

763 days ago
24.

Sincerity    

Considering Ice-T makes very good money from his acting gig on Law & Order, I doubt seriously if he's "BOO HOOING" over $250,00 dollars. Chances are that he saved a "TON OF MONEY" on the utilities, taxes, condo association fees and other miscellaneous fees attached to this property that will offset this losses from selling it.

763 days ago
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