SELLER: Ricky Martin
LOCATION: N. Bay Road, Miami Beach, FL
SIZE: 9,491 square feet, 7 bedrooms, 8 full and 2 half bathrooms
DESCRIPTION: Mediterranean masterpiece with breathtaking open bay views from every room. 7 bedrooms, 8 full baths and 2 half baths. Living room, master bedroom and the master terrace all have fireplaces. Travertine marble throughout. Gourmet kitchen, fully wired media room. Solid mahogany doors, moldings and trim. Full bar, elevator, jacuzzi & pool.
YOUR MAMAS NOTES: Ayeee muchachas and muchachos, Miami is very expensive and Ricky Martin is very, very rich. Your Mama knows that ya'll have already read and heard about swivel hipped singer Ricky Martin putting his Miami Beach mansion on the market, but Your Mama is clearing out some of our back log of celebrity property information, so if you know all about this already, move one. Otherwise, welcome aboard.
Say what you will about Ricky Martin, his bubble booty, and bikini bathing suits, but the man knows how to flip the high end real estate at huge profits. Your Mama does not have the time or inclination to go back and recount every Miami mansion that metrosexual Mister Martin has occupied, so we'll arbitrarily begin in March 2001, when he paid $6,400,000 for a 7,082 square foot house at 5030 N. Bay Road that has 6 bedrooms and 6.5 bathrooms. Just four years later, the smooth bodied singer sold the place for $10,600,000, netting him a huge profit. And you just know that bigger is better in Mister Martin's pocketbook.
At the same time Señor Martin was selling 5030 N. Bay Road, he was purchasing a larger, 9,491 square foot house just a few doors up at 5130 N. Bay Road. In May of 2005, our Mister Martin paid $10,000,000 the the house he currently has on the market for $16,900,000. Which will net him a staggering $5,000,000+ profit in just two years if he gets anywhere near the asking price, which could be a wee bit difficult in a flailing South Florida real estate market.
The listing for the property does not show many photographs, so we're unable to discuss Mister Martin's interior decorating abilities. However, we do get a photo of the delicious swimming pool where it's not difficult for Your Mama to imagine several scantily clad Mister Martin look a-likes spread out around that pool sucking on Mai Tais and comparing tan lines.
We've read that Mister Martin has already purchased a new home in Miami and one of our South Florida peeps, whom we'll call Richie Rich, tells us that the Puerto Rican singer's new, palm encircled house occupies an ocean front parcel way up on Ocean Boulevard in Golden Beach. Property records indicate the house spans 9,882 square feet with 4 bedrooms and 6 bathrooms. Most reports say Mister Martin paid $17,500,000, but property records show a purchase price of $16,250,000.
Sources: Lust Hunt, Miami MetBlogs, A Socialite's Life