(AllHipHop News) Hip-Hop mogul Jay-Z has scrapped plans for a Manhattan hotel. The rapper had plans to open the J Hotel, after the group bought a space at Tenth Avenue and West 21st street in December of 2007 for $66 million. According to reports, Jay-Z turned the mortgage back to the lenders for $52 million. The project also ran into troubles when Jay-Z filed a $3.7 million lawsuit against Highland Capital Management. Jay-Z claimed that he attempted to return the mortgage to Highland when the value of the property began to fall, and that the company’s unresponsiveness cost him millions of dollars.Pittsburgh rapper Wiz Khalifa has struck gold with his latest single “Black & Yellow.” The track, which hit #1 on iTunes’ Hip-Hop chart, has sold over 500,000 copies since its release in September. Last night, Wiz debuted the official remix to “Black & Yellow” featuring Snoop Dogg, Juicy J and T-Pain. The news caps off a productive year for Wiz Khalifa, who recently finished his nationwide “Waken Baken Tour.” Wiz is currently in the studio putting the final touches on his upcoming debut for Atlantic Records, which is slated to drop in Spring of 2011. Rapper Lil Kim isn’t finished with Nicki Minaj just yet, as the Brooklyn emcee is preparing to drop a video for her diss track “Clap Clap/Black Friday.” The video, which began shooting on location in Brooklyn early this morning (December 16th), is slated to be released in the coming weeks, according to sources close to the shoot.
