Wednesday, November 14, 2007

A-Rod Walks On Shaq

According to the Miami Herald (via the South Beach Real Estate Blog) the princely paid professional baseballer Alex Rodriguez (known in ball luvin' circles as A-Rod) has walked away from his contract to purchase the$32,000,000 Shaq Shack on celebrity laden Star Island in Miami.

Apparently the Rodriguez family have changed their minds and decided they prefer to remain in the Coral Gables area where they currently own a $12,000,000 ocean front house with six bedrooms, and also where Mrs. A-Rods built in babysitter parents live in nearby Coconut Grove.

According the the Herald report, Shaq and Shaunie O'Neal are butting heads in dee-vorce court and it is in fact Shaunie who resides in the Star Island mansion. And apparently she wants to stay living there. Court papers reveal she "no longer agrees to the sale" of the palatial property. Uh oh, this is gonna get ugly children.

Shaunie lives in the 19,440 square foot mega manse with the splitting couple's four children, plus her son from a previous relationship, plus her mother. A nanny, a chef, two housekeepers and a house manager come in daily, so it's a good damn thing Shaq rakes in a reported $1,500,000 per month to pay all them people and keep Shaunie and the shorties shacked up in style.

Shaq is reported to be living elsewhere in the area, but according court papers (copies of which were provided to Your Mama by the always helpful Mister Smiley), the couple also own a lavish home in Orlando and a luxury apartment at the Ritz-Carlton Residences in downtown Los Angeles.

21 comments:

The Hollywood Mayor said...

No divorce is good, and this one definitely sounds awful!

Megan said...

I imagine A-Rod does't want to move up since he's still unemployed.

caveman said...

4 young kids & he has to keep them & the ex in a lifestyle that they are accustomed to.
he's doomed.

Layler said...

I'm sure Shaq is getting his karma.

A-Rod is still negotiating his next contract, so shouldn't he wait to find out where he'll be living????

Aunt Mary said...

Juanita Jordan is getting about $180mm from #23. Shaq can afford to give her the house. What's the world coming to when a nice NBA couple with 4 chilren can't stay married? I'm shocked.

mr jones said...

house is worth 20MM in todays market tops, in a year 5MM tops, price is to high, that is why rodriquez walked away.....

smiley said...

a hem... ritz carlton... who told you about that one mama?

:)

Anonymous said...

A-Rod's financial adviser talked him out of it. Bad investment in a crashing market.

mr jones said...

I imagine that if it was a good market rodriguez would put it back on the market for 70MM, why ? because he can............. but it is a bad rock et about to get worse, in LA median price went down 9% and it is still falling.

Like I said before, 70-80 percent correction is needed.

These are inflated prices brought on by trickery and we all bought it, until the scandals broke out.

Same thing happened in England years ago, prices went down, way down.

Anonymous said...

It is starting. LA Times

The median price dives 8% in the Southern California market while sales volume plunges to record low.

Old Hag in a house said...

I'm not selling.

Anonymous said...

You don't have to sell. Your kids are sending you to Shady Pines.

Anonymous said...

I'm glad I live in the cozy 'burbs of Philadelphia, where prices never got so far out of control and well priced houses in good 'hoods are actually still moving quickly and prices are still actually rising modestly....don't know why so many suckers live in LA anyway

average joe said...

It is going to drop everywhere, including philadelphia, atlanta, tennesee, texas, it will be coming down everywhere, even detroit where you can get an estate for 1MM or a house for 70k (where NY,LA use to be at) is still coming down.

Anonymous said...

LA was bad in the 90's, MR. Jones, I'll give you that, but the NYC market you obviously know nothing about...maybe it was that cheap in the 70's & early 80's, but since the mid-90's Manhattan has been on-fire...I agree you don't know what you're talking about! Your future predictions on some other posts are also way too pessimistic!!! If you're to be believed, we all might as well shoot ourselves in the heads, because an 80% drop in home values would lead to a cratering of the world economy and life as we know it!

Anonymous said...

The Foreigners are going to swoop in on the cheap dollar and save us all because our houses look like investment & vacation home BARGAINS to them as the dollar keeps falling, it's already starting to happen...

Chicken Little said...

The Sky Is Falling! The Sky Is Falling! The Sky Is Falling!

average joe said...

I lived in new york in 2000 that is when I was shopping for real estate out there, the prices were cheap !!!! back then......... and manhattan was not on fire, a friend of mine bought a building with 30 units for 4MM, he wanted me to go in half with him.

I was an idiot for not getting involved, what can I say.

In a realistic market real estate is only supposed to go up 5% a year, in this market it went up 1500% in some areas in 4 years, in most areas it went up 400%.

I have a RE Lic in NY and LA and I can look go back 20 + years on the MLS and I can tell you that after 2001 it jumped big !!!!!!.

Maybe it was because of the very very low qualifying loans where anyone with a minium job at Mickey D's or above could get a 200k home, the navity of our leaders, the war ? maybe it was a combination of all of those things.

When it does drop back down life will go on, it will not be the end of the world and I do not think we will see a crazy RE market like this for the next 15 to 20 years when at such time we will have forgotten the major disaster this one was.

Btw the bankers are starting to lie to the public, to keep a panic from happening, the truth will not come out until after christmas but they are losing billions in this fiasco.

They are going to have to drop the prices on their platial estates and sell them fast when the truth comes to light, the lawsuits have not even begun yet by the investors.

average joe said...

If you took out the subprime equation, then the market would be up 30% which falls in with what folks can afford, rich and the poor.

Subprime, is taking the bankers for a long and wild ride.

btw if I had gone in for half on that building in 1999/2000 I could have made 20MM, it sold for 40MM in 2005, it is in greenwich village on the eastside I think. Back then the neighborhood was not so great, now it is very safe.

Anonymous said...

When will these pro athletes learn that you get married AFTER your playing years are over with a prenup. Silly athletes.

Anonymous said...

The common man speaks;

Typical manifestation
Subject still thinks people will line outside his home when he plan to sell his home after inflating it price to 300% and giving 5-10 % rebate on price. People have no brain and they will fall for it since there will be one fool who is like me.
I can afford the home since I lied on my salary and my employer will be obligated to give me 100% raise otherwise banks or US GOVT will pitch in since they donot want me to lose american dream.
Federal bailout is on its way and meanwhile I can use my plastic to shield me as long as it comes to me.