Bitch await me at the penthouse, I’ma fuck the ho
This line can be seen as a double entendre, in which these two concepts are expressed.
There is literally a girl waiting for Lil B to come sex her up at a penthouse(her’s presumably, knowing Lil B doesn’t reside in a penthouse).
Since a big topic in this song, is girls, him saying the girl is waiting for him at a penthouse is a clear reference to the men’s magazine, Penthouse.
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