The Ghetto Won't Change
Ice Cream Man
He does not sell drugs nor use money from the sale of drugs to buy expensive things. Shiping (or selling) drugs does not appeal to him.
Can't Deny It
Diamonds are often referred to as "ice" because of their clear, glassy nature and resemblance to ice. His chain (necklace) has so much "ice" in it it's making his neck cold, allegorically speaking.
The S-type could also refer to a Mercedes Benz S class, commonly accepted as the most luxurious of the Mercedes Benz line of sedans.
Hot in Herre
He has the top floor (suite) of the Four Seasons all to himself