Russell Simmons has just bought a new home in L.A. for about $5.875M. The hip-hop magnate and Def Jam founder hasn't had such luck on the East Coast, though, where his New Jersey mansion sold for half its $20M ask in 2011, and where his 7,175-square-foot Manhattan penthouse, bedecked with peace signs and Ankhs, just won't sell. [The Real Estalker; previously]
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