Report: LeBron James to Spend $49.5 Million on Coral Gables Home

Filed under: Heat, NBA Rumors

What does a $110 million contract buy a person these days?



Apparently a lot of house.



A real lot of house.



Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, Fla. The home was once owned by Pat Riley, and was taken off the market shortly after "The Decision."



The home is the most expensive in Coral Gables, according to Life & Style, and features:



* eight bedrooms and 11 bathrooms;



* 880 feet of waterfront;



* a master suite with a full gym;



* a private guest suite with its own tennis court and courtyard on an acre of land.



* a 150-foot dock



Taxes are about $1 million per year, with an additional $150,000 price tag for utilities. South Florida auto magnate Alan Potamkin owns the home, and he has listed the home for $49.5 million.



Life & Style reports it's a "slam dunk" the home will soon belong to James.

 

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Full story at http://nba.fanhouse.com/2010/07/17/report-lebron-james-to-spend-49-5-million-on-coral-gables-home/