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Rapper Birdman drops price of Miami Beach mansion to $15.5 million

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Birdman is looking to fly the coop in Miami Beach. His waterfront mansion on the city’s man-made Palm Island is up for grabs at $15.5 million.

Hopefully the third time’s a charm for the rapper and founder of Cash Money Records. He first asked $20 million for the property last year and then relisted it for $16.9 million over the summer, according to the Multiple Listing Service.

Built in 2004, the palatial estate spans 19,970 square feet, fitting in 10 bedrooms, 15 bathrooms and a pair of guest suites across three stories. According to the listing agency, one of the suites has been repurposed as a recording studio for the label’s stable of artists, which has included Drake, Lil Wayne, Nicki Minaj and Young Thug.

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An expansive foyer flanked by dual staircases and wrought-iron rails opens the interior. Tile lines the center-island kitchen and breakfast nook, and dark hardwood covers the formal dining room.

Upstairs, the master suite stretches 3,500 square feet and opens to a private balcony with views of the water and downtown Miami.

For amenities, there’s a movie theater, gym, two wine cellars, a billiards room with a wet bar and a den with a fireplace. A pair of staircases descend from a patio out back, leading to a palm-topped lawn with a sand volleyball court and swimming pool.

A custom spa, an indoor-outdoor lounge, a kitchen with a pizza oven and 100 feet of water frontage complete the scenic space.

Jeff Miller of Brown Harris Stevens and Darren Weiner of Celebrity Advisors LLC hold the listing.

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Birdman, whose real name is Bryan Williams, founded Cash Money Records with his brother, Ronald “Slim” Williams, in 1991. As a rapper, his albums include “Fast Money,” “Pricele$$” and “Like Father Like Son,” a collaboration with Lil Wayne.

jack.flemming@latimes.com | Twitter: @jflem94

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