LeBron James’ Miami home still on market, price dropping

As WFNY’s Scott Sargent noted back in October, LeBron James put his Coconut Grove, Florida house on the market for what he believed a fair market value of $17 million.

Unfortunately, the multi-million dollar mansion market must not be booming in South Florida as the house remains on the market four months later. LeBron did not seem to mind as he even took advantage of the home back in December in order to successfully recover from injury and unsuccessfully recruit Ray Allen to the Cleveland Cavaliers.

However, after the Cavaliers most recent trip to Miami, LeBron has decided to aggressively pursue liquidating his asset. He has decided to drop the asking price on the mansion to $15 million, according to the Miami Herald. The nearly 17,000 square foot home includes all of the modern luxuries one would expect, including a wine cellar, infinity pool, outdoor kitchen, two boat docks, and gorgeous views of the Biscayne Bay.

From the Herald:

“We’re trying to capture the spring buyers and move the property,” said Tomi Rose, a senior vice-president at Opulence International Realty and James’ real estate agent, of the price drop. “Most of the properties in that Coconut Grove, Coral Gables area — especially properties of this magnitude and luxury — they can stay on the market for a year or more.”

Fear not for LeBron’s investment, however, as records indicate that the Cavs wing paid $9 million for the estate back in 2010, so he still stands to make a profit on home assuming that he can find a buyer at the new price.