Russell Simmons Unloading Real Estate as Abuse Claims Mount
6:00 AM PDT 7/25/2018 by Peter Kiefer
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Courtesy of Tantris; Amanda Edwards/WireImage
Russell Simmons' 8,000-square-foot, two-story Tantris Yoga Studio on Sunset Blvd
The embattled hip-hop mogul has listed his L.A. home for $8.25 million and is said to be spending a lot of time in Bali as his West Hollywood yoga studio closes.
Is Russell Simmons leaving the jurisdiction?
Amid more than a dozen accusations of sexual misconduct and assault, Simmons is selling off his real estate holdings in both Los Angeles and New York and is shuttering the West Hollywood yoga studio that he opened in 2016.
In May, the embattled co-founder of Def Jam Recordings put his New York Financial District penthouse at 114 Liberty St. on the market for $9.92 million. Now, Simmons has listed his five-bedroom, eight-bathroom 6,000-square-foot Spanish-style home in L.A.'s Hollywood Hills for $8.25 million.
Simmons' 8,000-square-foot, two-story Tantris Yoga Studio on Sunset Blvd. offered a juice bar, blow-dry services and a retail area carrying the Tantris apparel line. When contacted by The Hollywood Reporter, an employee confirmed that the studio would be shutting down at the end of the month.
Sources say Simmons has been spending a lot of time in Bali, a favorite destination (the island is a province of Indonesia, which has no extradition treaty with the U.S.). A spokesperson for Simmons says the mogul is still America-based but simply is traveling more. "Russell divested himself of his active U.S. business interests last year to focus on his spiritual practice and serving his community," says the rep. "As part of that journey, Russell has traveled to many spiritual destinations around the world but continues to retain active family presence and residence in the U.S."
More than a dozen women have come forward in recent months with allegations against the 60-year old Simmons of sexual misconduct dating back to 1983, with several women accusing him of rape. (Simmons has denied the claims.) Last year, Simmons announced that he would be stepping down from his companies — All Def Digital, his film company Def Pictures and the yoga lifestyle brand Tantris — in the wake of the allegations.
In a statement announcing his resignation, Simmons said the companies will “now be run by a new and diverse generation of extraordinary executives who are moving the culture and consciousness forward,” while he would commit himself to “personal growth, spiritual learning and above all to listening.” Since then, several more women have come forward with accusations.
Simmons’ Hollywood Hills gated home above the Sunset Strip is described as offering “true resort-style living with thoughtful Balinese influences throughout.” The main level includes a living room, family room, dining room and an open kitchen with pitched beamed ceilings. There are three en-suite bedrooms on the second floor and a master suite with a fireplace, terrace and walk-in closet. The home also has a pool and a lower level “rock cave” wine cellar. Simmons purchased the home in 2013 for $5.87 million.
The Agency’s David Parnes and James Harris have the listing.
