Getty Images / Realtor.com
The baseball great Alex Rodriguez is playing the real estate game. The former slugger recently sold an investment property in Miami for $6.3 million, Architectural Digest reports.
The transaction occurred just eight months after A-Rod picked up the lakeside abode in April for $5.5 million. Weeks later, he put the pad back on the market, initially asking $8.5 million. In May, the price dropped to $7.2 million, before he sold it in December at the still-lower amount.
Even with the discounts, Rodriguez pocketed a small profit from the quick flip.
According to reports, the place will be torn down by the new buyers to make way for new construction that takes full advantage of the waterfront setting.
Home run
Set on a third of an acre, the single-story residence offers four bedrooms and three bathrooms. Built in 1962, the midcentury modern space comes with walls of glass, an open concept plan, and indoor-outdoor living.
Pool and lake views (Realtor.com)
Kitchen (Realtor.com)
Living and dining room (Realtor.com)
Single-story residence (Realtor.com)
Lakeside property (Realtor.com)
In the heart of Miami’s Design District, it’s on the gated private island of Bay Point Estates.
The location offers views of Sabal Lake and the Miami skyline. Renovated in 1985, the minimalist design features ceramic floors, a light and bright kitchen, and a living and dining space that opens to the patio through glass sliding doors.
Outside, the private oasis features lush landscaping, a pool, and outdoor kitchen.
The listing notes that the buyer can opt to build anew or renovate—which it describes as both “win-win options with its perfect location.” The scenic spot is close to Miami Beach, downtown Miami, the highways, and the airport.
High-profile properties
The former third baseman also owns a spectacular $40 million property on Star Island that he reportedly purchased with his ex, the superstar Jennifer Lopez. He also owns an artful mansion in Coral Gables, FL.
During their time together, the high-profile couple teamed up to take a few swings at the real estate market. They flipped a Malibu beachfront pad they bought from the actor Jeremy Piven for $6.6 million, selling it for $8 million.
The pair also bought and quickly sold a luxury condo in a high-rise on Billionaires’ Row in Manhattan.
Rodriguez is a 14-time All-Star who played for 22 seasons with the New York Yankees, Seattle Mariners, and Texas Rangers. Now retired, the baseball legend serves as an ESPN analyst and is a part-owner of the NBA’s Minnesota Timberwolves.
Arlene Dunand with Coldwell Banker Realty, Rodriguez’s sister, represented Rodriguez. Julianna Castro with Compass represented the buyer.
The post Alex Rodriguez Flips a Prime Property in Miami for $6.3M appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/celebrity-real-estate/alex-rodriguez-flips-prime-property-in-miami/
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