LeBron James's move to the Miami Heat isn't just enticing people to buy downtown Miami condos. Just to be near him is causing buyers to drop mad money like it was 2006 again. One example: Russell Wright, a millionaire defense contractor and one of the richest African-Americans in the nation, recently purchased some pricey Miami real estate in downtown. He and his wife spent $4.2 million on a downtown Miami condo located at The Marquis, just three blocks from the American Airlines Arena on the same day LeBron announced his decision.
According to Alejandra Serna, a publicist representing The Marquis,
that's the most spent on any downtown apartment this year. Wright said being near the Miami Heat stadium was a big part of their decision and swears he did not have any privileged info about LeBron's announcement. "I figured that in the best-case scenario, LeBron, Dwyane Wade, and Chris Bosh come together to make history right outside my house," he says. "Worst-case scenario: I'm a couple of blocks away from the stadium."
Russell Wright is not the only one eager to pay over the top for downtown Miami condos
to be close to the new Miami Heat tropical trio. According to an agent for Cervera Miami Real Estate, Penni Chasens, at least one other LeBron fan has spent an extra $100,000 to be near his hero. Chasens says, "We were working on a deal at the Marquis, and the buyer was low-balling the developer. The day after LeBron signed, he came back with a much better offer."
Head of Fortune International Realty, Edgardo Defortuna, says the LeBron effect is valid but hard to measure. He says Icon Brickell
has sold 49 units since LeBron's announcement and that July sales for downtown Miami condos were nearly double in June. He added, "I've had friends from South America call and tell me they'll buy an apartment but only if I can find them Heat tickets first."
Call MLR Realty
at: 1-305-673-3303 to speak with a Realtor that specializes in downtown Miami real estate or information on downtown Miami condos for sale and for lease.