You think New York City rents are steep, with 90 percent of apartments costing over $3,000 per month? Well, celebrity personality and fashion designer Kimora Lee Simmons is looking to lease out her Los Angeles mansion for a whopping $86,000 a month, according to Nine.com.
Hoping to cash in on the current rental boom, Simmons upped the rental rate from the $62,500 a month she was charging back in March. And, about three years ago, the home was for rent with a monthly asking price of roughly $15,000 cheaper, Dirt reported.
Located in posh Beverly Hills, the Mediterranean-style mansion offers 10 bedrooms and eight bathrooms — including a detached two-bedroom guesthouse, according to the San Francisco Gate.
Simmons purchased the 3.8-acre gated estate in 2008 for $10.95 million.
Built in 1990, the mansion also includes a grand two-story entrance, a conservatory, formal living and dining rooms, a family room, and an eat-in kitchen.
There’s also a massive master suite, expansive pool, rooftop terrace, library, a tennis court, and in the basement, there’s a wine cellar and a home gym, Nine.com reported.
Simmons and her German financier husband Tim Leissner have been embroiled in legal problems lately. In 2018, the former Goldman Sachs head banker in Asia was accused of helping to divert billions of dollars from the Malaysian State Fund 1MDB. In 2020, he pleaded guilty to criminal conspiracy to violate the Foreign Corrupt Practices Act and agreed to pay $43.7 million into a compensation fund for victims, Dirt reported.
A lawyer for Leissner recently asked the court for permission for Leissner to relocate to Texas for a new job. Leissner has certain restrictions due to his plea deal.
In 2021, Simmons’s ex-husband, hip-hop music mogul Russell Simmons, sued her for fraud and allegedly stealing stocks to pay Leissner’s bond in the 1MDB case.
The Def Jam Records co-founder claimed that Lee and Leissner conspired to fraudulently transfer almost 4 million shares of the energy-drink company Celsius to their accounts. The lawsuit also accused the couple of breach of contract and breach of confidential relations, Vanity Fair reported.
Even though Russell and Kimora were divorced, they continued to be business partners. In 2016, Lee and Leissner joined Russell’s investment company, Nu Horizons. Nu Horizons holds shares in Celsius.
In 2019, Kimora, who has a net worth of an estimated $200 million, announced she was relaunching her iconic streetwear brand Baby Phat.