It’s a good thing Ice-T knows how to act, rap, and carry a reality TV show …

because dude just took it in the shorts — selling off his Miami condo for

almost a quarter million LESS than he paid for it, TMZ has learned.

Ice-T — real name Tracy Marrow — bought the 1,956-square-foot beachfront

Miami pad back in 2007 for a whopping $1.53 million.

But Ice just sold the 3-bedroom, 3-bath, stark white crib for a measly $1.29 million

… which our sharp math mind calculates to be a $240,000 hit.

The condo’s got ocean views, marble floors and other awesome amenities … like

concierge service, pool, spa, gym … and of course a sauna AND steam room.

‘Cause true ballers gotta have TWO kinds of heat.

via: tmz