The Real Deal - South Florida
July 16, 2009
Athlete Home Sales Strained Amid Lux Market Woes
By Jennifer LeClaire
Professional athletes don't give up on the playing field, and some won't quit in South Florida's brutal real estate arena despite plunging property values. Regardless of how well these sports legends fare on court, the market is taking many to the penalty box.
The latest entrant in the star athlete real estate scrum is Alex Rodriguez, who just cut the price of his Coral Gables ranch to $9.9 million, down from a $14.9 million asking price last October.
Basketball star Shaquille O'Neal, recently traded to the Cleveland Cavaliers, sold his Star Island house for $16 million in June, after it languished for four years. The price dropped like a bad free-throw percentage