Real Estate Rumors

LeBron James took his talents to Miami, and now he’s taking his money out of it. James, who played with the Heat for four seasons before returning to the Cleveland Cavaliers last year, sold his Miami home Tuesday for $13.4 million, a source confirmed to ESPN.com. James paid $9 million in 2010 for the home, which has six bedrooms and eight and a half bathrooms. He sold it to Timo and Nathalia Kipp, who are married Florida real estate investors.
via ESPN.com
But in an interview with CNN Money, he said it wasn’t gambling — which he was reported to have lost a lot of money on — as much as bad real estate deals backed by his personal collateral. From CNN: The economic chaos caused the implosion of Walker Ventures, his Chicago real estate firm. “We got caught in the recession. We had a ton of undeveloped real estate. It went bad. The banks wanted their money back,” he said. As if that wasn’t bad enough, Walker had unwisely put up his personal financial portfolio as collateral. He ended up being forced to pay back about $20 million to banks.
via For The Win
The Westchester home of former N.B.A. star Allan Houston—complete with indoor basketball court and trophy room—is listing for $19.9 million. Measuring about 19,300 square feet, the house sits on more than 10 acres in Armonk, N.Y., in the exclusive gated community of Conyers Farm, according to real estate agent Brian Milton of Houlihan Lawrence, who is listing the property with colleague Ellen Mosher. The French Country-style estate has seven bedrooms, 10 full and two half bathrooms, Mr. Milton said.
via Wall Street Journal