Monday, July 23, 2007

Ricky Martin Selling Miami Mansion

SELLER: Ricky Martin
LOCATION: N. Bay Road, Miami Beach, FL
PRICE: $16,900,000
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

9 comments:

alex the sea turtle said...

That is a beautiful pool. Looks like it's entirely mosac tile.

I would love to do that with my pool but a bit to slippery when you are in it.

Anonymous said...

I like his place in New York at 40 Shake Your Bond Bond better.

Anonymous said...

STOP advertising in the comments section! This house is pretty nice - what area is his new place in mama?

Phoenix said...

Anon @ 7:41 AM , I agree. His new N.Y. place is gorgeous, as is the entire building.

Phoenix said...

re: this house.. listed for nearly $7 Million profit in just two years is aiming pretty high in my opinion. Besides the considerable slowdown in the Florida housing market, it's become extremely difficult to obtain homeowners insurance on the atlantic coast, neither of which seem conducive to obtaining record profits at the present time.

d2 said...

Anyone have linkage to the NY place?

Phoenix said...

d2, you can find it referenced by Mama Here. The website for the building is Here.

Anonymous said...

Looks like 6** Ocean Blvd, Golden Beach, FL.

Anonymous said...

Lovely view.