Sean "P.Diddy" Combs is closing a deal to move his various businesses
under one roof and is leasing a 52,000 square foot office building and five
floors in New York’s Times Square.
"I had five
offices all around the city. To have them under one roof is a dream come true,"
Diddy told AllHipHop.com. "It’s prime real estate. We are trying to make
a statement. The moves that we are making are unheard of."
Diddy said that
he hopes to create more synergy between his various endeavors. Bad Boy Records
and the related television and film divisions, Janice Combs Management, Janice
Combs Publishing, the corporate offices of Justin’s restaurant, his non-profit
Daddy’s House Social Programs and the Sean John Clothing line will be housed
in the six story building.
"I am putting
my whole heart into this," Diddy continued. "Most of all I want to
inspire people. As young black people we can own fortune 500 companies."
The mogul received
a $100 million investment from investor Ron Burkle and his Los Angeles-based
Yucaipa Cos. Combs plans to open a chain of Sean John clothing stores across
the country.
"A lot of
times you hear people doing these deals, but there aint no one that looks like
you, talks like you, dresses like you or thinks like you. But you can take the
fact that your from the hood and flip it. That’s what we are doing."
Combs’ new offices
will be located at 1710 Broadway, at the corner of 54th street, across from
the David Letterman building. The building was designed and built in 1917 and
is recognized as a New York landmark.
"These past
24 months has been about controlling my own destiny," he said. "I
bought my partners out and resold a smaller piece. Now I am in majority control
to make the decisions. It’s not like the money went in my pocket. I am using
it to build Sean John into a billion dollar company."
