Damon Dash, Hip Hop Mogul, Facing Foreclosure on 2 NY Apartments
The latest celebrity to get the ol’ foreclosure notice is Damon Dash. Co-founder of Rock-A-Fella Records with Jay-Z has been served with a foreclosure notice on 2 of his Manhattan apartments.
Damon Dash’s net worth was estimated at 50 million dollars, but my hunch is that it has dwindled if he is being chased for the $78,000 by the bank.
He recently invested in his wife Rachel Roy’s fashion business. That might be the reason that things went south.
Eastern Savings Bank has filed suit against entrepreneur Damon Dash, charging the Roc-a-Fella Records co-founder hasn’t made a payment on his $78,504.20-a-month mortgage since January.
“YOU ARE IN DANGER OF LOSING YOUR HOME,” reads the foreclosure action against Dash and wife Rachel Roy.
The $7.3 million mortgage was actually taken on two TriBeCa properties the couple owns, at 25 N. Moore St. and at 79 Laight St.
A rep for Dash did not return a call and e-mail for comment. The clothing big has been besieged by debtors in the past year, despite having an estimated $50 million fortune. via the New York Post.
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