LeBron James Sells Miami Mansion “The King’s Palace” for $13.4 million
The real estate listing for basketball superstar LeBron James’ Miami mansion didn’t bother trying to hide its ownership of this Coconut Grove home, calling it “the King’s palace” as well as “the most opulent estate in Miami.”
After almost a year on the market, James’ home just sold it for a cool $13.4 million — about 50 percent more than the $9 million he paid for it as a new build in late 2010.
The half-acre bayfront property has more than 12,000 square feet of living space, with six bedrooms and nine bathrooms. Security is paramount: The listing emphasized the property as a “compound,” walled and gated, with its own security quarters and “state-of-the-art security system” as well as its own generator and guest home.
He originally asked $17 million when he listed it in October, then knocked the price down to $15 million in April.
Not long afterward, investor Timo Kipp and his wife, Nathalia, swooped in. “We’re going to use it as our primary residence,” Kipp told the Real Deal Miami, which first reported the sale. “We always thought the price was too high, and we were able to negotiate it down.”
Kipp is trading up from the home that he bought from retired Miami Heat player Alonzo Mourning in 2009 in Coral Gables, Florida. Kipp just sold that property in June, the same month he contracted to buy James’ mansion.