The Miami Herald wrote an article yesterday, after a telephone interview with this writer. It appears in today’s print version of the paper. There are some inaccuracies in the article;for example, I did not say that LeBron James made a $49.5 million offer. The following is the text of the conversation.
Even before LeBron James announced he’d be coming to South Florida, which South Florida luxury home he would choose was being discussed
By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com
July 9, 2010
What piece of prime South Florida real estate is fit for a king?
LeBron James landed in Miami on Friday after making the announcement he would be leaving Cleveland to join the Miami Heat, but even before that, the local real estate circuit was abuzz with questions of where the multimillionaire athlete would live.
According to analysis by Esslinger-Wooten-Maxwell Realtors, James will have plenty of multimillion dollar properties to choose from — 355 Miami-Dade properties were listed for sale at prices above $4 million in May.
Some of those properties — and some unlisted mega-mansions — have been in the spotlight this month, as rumors swarmed that James had been shopping for real estate in South Florida in recent days.
On Thursday, Miami-based luxury Realtor Alex Shay began hearing rumors from other agents that James had put in a $49.5 million offer on a Gables Estates home being sold by auto tycoon Alan Potamkin.
The home, at 11 Casuarina Concourse, in Coral Gables, features 20,088 square feet of living space, eight bedrooms, 11 bathrooms and 800 feet of water frontage.
“It’s a great big property on three great big acres of land — it has all the bells and whistles, it has all the goodies that you want in a home,” said Shay, who posted the rumor on his real estate blog. “It’s the second-highest priced property in Dade County.”
The most expensive home, an Indian Creek Village waterfront mansion listed at $60 million, is still under construction.
Other homes for sale in that neighborhood include a six-bedroom, six-bath listed at $12.9 million, a 17,000-square foot mansion listed at $17.9 million and a Mediterranean style villa with seven bedrooms listed at $6.5 million. Heat president Pat Riley also owns a Gables Estates mansion.
If James, 25, wants to settle in at a bachelor pad in one of Miami’s luxury condominium buildings, he could opt for a high-rise in downtown Miami or South Beach.
A website launched weeks before James decided to come to Miami pitched a 4,200-square-foot Miami condo as “LeBron’s Future Miami Penthouse.” It features 20-foot floor-to-ceiling windows, view of Biscayne Bay and, an extra perk, it’s right across the street from AmericanAirlines Arena. The corner unit, at Marina Blue condominium, is on the market for $3.3 million.
Judging from the castle James will be leaving behind in Ohio, a condominium would likely mean a major space downgrade, so speculating Realtors are betting he’ll end up in a single-family home.
James built a 35,000-square-foot mega-mansion outside of Cleveland in 2008, completely razing the 11-bedroom home that was on the land in order to erect the giant abode. The home includes a theater, recording studio, casino and more.
“Barbershop, bowling alley, ATM machine, Starbucks, all that,” he told Jimmy Kimmel in a 2009 interview. “You’re going to have to do a show live from my house.”
With South Florida’s home values still far below their peak, James could end up getting a bargain on a luxury property.
“He could probably make a great deal,” Shay said. “It depends on the house or the seller or the motivation of the seller, but there are good deals out there.”
Read more: http://www.miamiherald.com/2010/07/09/1723461/real-estate-community-on-fire.html#ixzz0tHx6K5Nx