Alex Rodriguez sells $30M home
Alex Rodriguez is a bit richer today.
The New York Yankees third baseman closed on the sale of his Miami Beach home on Friday morning, ESPN.com has learned. The confirmed sale price of $30 million is one of the highest purchase prices for a home in Miami.[+] EnlargeNewport Property ConstructionAlex Rodriguez paid about $15 million for land and house construction and sold the home for $30 million Friday.
Rodriguez, who has earned approximately $360 million to date in salary alone, more than any U.S. major sports athlete in history, will make a $15 million profit.
In 2010, Rodriguez bought the 54,000-square-foot plot of land on the water for $7.4 million. He then put roughly the equivalent amount into the 20,000-square-foot modern, minimalistic home that his own construction company, Newport Property Construction, built in 11 months.
It has nine bedrooms and 11 bathrooms with the oft-coveted European white oak flooring throughout. Its most impressive feature is at the rear of the house, where clear, glass windows can be adjusted so that someone can walk straight outside. The house also features a zen garden and rooftop deck.
Rodriguez moved in in October 2011 and, encouraged by the rebound of the Miami real estate market, listed the home for the first time at $38 million a year later. Failing to get a nibble, he took the home off the market in December 2012.
Rodriguez never listed the home again, as he was personally offered the deal that was consummated Friday.
"When you're offered the highest price for a home in a city's history, you have to take it," said Jose More, a business partner of Rodriguez who is the vice president of his construction company.
Confidentiality agreements protect the buyer's identity, but More did reveal that the buyer is a businessman, not an athlete.
That's an important distinction, since so many athletes customize their homes so much that they find trouble selling them to anyone outside the sports world. The only feature in the house that is obsolete to the new owners is an indoor batting cage.
"Alex was ahead of his time in his design of the modern, clean, elegant structure," More said. "There are eight houses in the area that are now being built exactly like this."
More says that A-Rod has not picked his next home site, but he will very likely demolish what he buys.
"He really enjoys the design process," More said.
The 37-year-old Rodriguez, who has not played for the Yankees this season after getting surgery on his left hip in January, is currently rehabbing in Tampa and is expected to return after the All-Star break.
When he comes up to play in New York, he will be living in a rented apartment in Manhattan.
In October 2011, A-Rod bought a condo on Manhattan's upper west side for $5.5 million, but flipped that, too -- for a $2.5 million profit less than eight months after buying it.
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