It looks like a hip-hop mogul will be moving out of New York’s posh Time Warner Center in the coming months. Jay-Z has been renting a $40,000 a month, four bedroom, five and a half bath condo on the seventy-sixth floor of the Manhattan dwelling since September 2005.

Well, the word in New York is that the condo is in the process of being sold by it’s owner New York real estate magnet Michael Hirtenstein. Jay-Z’s condo, which gives him a full-frontal view of Beyonce’s apartment across the street at One Beacon Court, sports one of the building’s few private terrace and even a library so that Jay can catch up on his latest edition of The Source. Could Jay-Z’s big move have anything to do with why he and Bee were checking out villages in D.R over the holidays?

Don’t feel too bad for Jay, chances are he won’t be moving back to Brooklyn’s notorious Marcy Projects anytime soon. The rapper has also been renovating a $6.85 million townhouse on New York’s famed Houston Street.