Beyoncé Loses $335,000 on Condo Investment; Ricky Martin's Realtor Hangs Up on Crossfade

Nestled on 500 feet of prime, ocean-front real estate, the Blue and Green Diamond Condominiums are two of the most exclusive residential towers in Miami Beach. And back when the market was stable, only the über-rich -- like Beyoncé Knowles -- could afford to shit and sleep in one of these high-priced condos.

In December 2002, Knowles dropped $465,000 on CA-A3 at the Green Diamond, a 190-square-foot cabana with little more than a half-bath and dressing room. Last month, though, Knowles unloaded the tiny property for $110,000, 75 percent less than the original purchase price, TMZ reports.

With an estimated net worth of $300 million, Knowles is one of the wealthiest entertainers in the business. So losing $335,000 is no big deal. However, when you're in the market for a $12.5 million mansion, every penny counts.

Earlier this month, Knowles and husband Jay-Z were caught house hunting in Miami Beach. Hoping to join two-thirds of Miami's Big Three in the North Bay Road neighborhood, the couple toured a seven-bedroom mansion owned by Ricky Martin.

Crossfade contacted Martin's listing agent, Pablo Alfaro (Esslinger-Wooten-Maxwell, Inc), and asked him point-blank whether or not Jay-Z and Beyonce had made an offer on the Mediterranean-style home. He immediately hung up.

Guess who won't be using Alfaro next time we're in the market...

If you were Pablo Alfaro, would you talk to Crossfade?

Follow Crossfade on Facebook and Twitter @Crossfade_SFL.

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