The New York Post reports that Dash lost the two apartments, after he fell behind on the $78,504 monthly tab.
Only one of the apartments was sold yesterday, while the other was taken over by the bank that held the mortgages for both of the residences.
Damon Dash originally purchased the properties for $3.87 million in 2004.
Just last week, Dash blamed his current situation on his former Roc-A-Fella records partner, Jay-Z and his business partners during an interview with The Village Voice.
“The people that I was helping, once they realized their dreams, they did what a criminal would do,” Dash said. “They stabbed you in the back. Think about the frustration of building a brand for years that should be taking care of your family, and then the person that was the closest to you saying, ‘Nah, you can’t have no parts of it,’ and flushing it.”
Back in the day when Jayz was on the come up, Dame Dash was a straight bully for Jayz. That was Jay’s right hand man. He did all of the dirty work in business. But in my opinion Dame was too much of a bully and very cocky especially when on camera. I remember on a Mtv Crib Special, Dame Dash was on camera throwing away white t-shirts and sneakers after wearing them just one time. Now that just plain arrogance.
Bad business deals help put Dame in the position he’s in now. Real estate was a lucrative investment at one point but with a rapidly changing economy & inflated property values it just isn’t today . Dame also invested in pro-keds a sneaker company which dropped him 2008.
The same people you pass on the way up are the same people you pass on your way down in life. Dame burnt a lot of bridges with people in business. From this experience he should humble himself if he hasn’t already. Learn from his life’s mistake and emerge as a better business man.
Since the split, Jay-z has proven to be the better business man, married the hottest chick in the game (Beyonce), and put out a successful rap album.
Watch Video below of a furious Dame Dash going to bat for Jayz at a meeting.
After all that Dame’s done for Jayz, is time for him to reach out to Dame?
Tags: dame dash
