Khaled, who began his career spinning records for the Miami-based WEDR 99 Jamz in 1998, has signed a contract to plunk down $25.9 million for a five-bedroom, 13,000 square-foot waterfront home in Miami Beach, according to the Wall Street Journal.
The seller is Michael Lerner, the mogul who created the “Baby on Board” signs in the 1980s. Lerner listed the property in 2016 for $29.5 million. Lerner bought the one-acre lot in 2013 for $4.95 million and built the mansion intending to live it in himself before deciding to relocate to Palm Beach.
The estate features an elevator, an 80-foot swimming pool, a safe room, a four-bedroom guest house and a private dock on Indian Creek.
Khaled is a prolific music producer and recording artist who has worked with practically every big name in the hip-hop and R&B fields, including Jay-Z, Beyoncé, Nicki Minaj, Drake, Pitbull, Lil Wayne and Mary J. Blige. He has released 10 albums, with his 11th scheduled to drop sometime in October.
In August, Khaled launched a new line of home furnishings, called “We the Best Home,” with El Dorado Furniture. The name was spun off Khaled’s production/management company We the Best Music, which he launched in 2006.
Eloy Carmenate and Mick Duchon of Douglas Elliman represented the seller in the transaction. Orli Rudolph of NextHome Realty Professionals represented Khaled.
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