09:16:17 | 2012-08-14
(New York, NY) — Some say South Florida’s real estate market is on the upswing with high demand, low inventory, and prices rising.
Well, a sign of the times could be Alex Rodriguez’s waterfront Miami mansion, which just listed for $38 million dollars after the Yankees third baseman purchased the property back in 2010 for $24 million while dating actress Cameron Diaz.
According to Miami realtors, part of what has bolstered this surge in market confidence in an otherwise erratic market has been the influx of Russian and Brazilian cash buyers looking for deals on trendy addresses. After listing the mansion for $38 million, it seems A-Rod’s broker is banking on this foreign investor interest to turn the $14 million profit on this property that he is seeking.
Surely, it will be interesting to see how A-Rod’s move plays out. As the true New Yorkers that we are, we are rooting for the Yankee slugger to see a somewhat close return on his investment for the 20,000 square-foot property which he reportedly did not even get to enjoy, as sources say he did not live there and construction was not completed until after he broke up with Cameron Diaz.
Rodriguez’s 9-bedroom, 11-bathroom mansion boasts pristine white coral-colored rock, white oak floors, an infinity pool, gym, steam room, home theater, and 12-foot, floor-to-ceiling glass windows with breathtaking views of the bay and Miami skyline.