Jay-Z will be moving soon

By: Yves Erwin Salomon

Rap mogul Shawn "Jay-Z" Carter has been living in a 4,800-square-foot Time Warner Center luxury condo in New York City that he's been renting for $40,000 a month since September 2005. The New York Post reports that the condo is currently for sale and under contract. The unit, which includes four bedrooms, five and a half bathrooms, 12-foot ceilings, a library, and a formal dining room is expected to sell for $27 million.

As for Jay-Z, he purchased a $6.85 million Tribeca penthouse on Hudson Street in downtown New York in 2004 but he's been living in the condo uptown while his place is being renovated.

If Jay-Z gets stuck between pads, he may crash with his girlfriend Beyonce at her luxury apartment at One Beacon Court. But the rapper is slated to go on a major tour this spring which may keep him on the road for the next few months.