Exclusive: Diddy Speaks On Business Moves

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."