Jul
14
Written by:
Tim Doehner
7/14/2010 11:05 AM
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Miami Heat Dream Team boosts Real Estate
LeBron James, the 25 year old NBA star has redefined himself with his beyond amazing decision to join the Miami Heat. Restaurants, hotels and real estate, including Miami condo prices and rentals are subject to be in higher demand now more than ever. Real estate agents advised The Herald that James' move down south, drove up the price of at least one condo near the American Airlines Arena, and buyers want Heat tickets as part of the deal..
Business owners are all saying that LeBron James’s presence is giving Miami tourism and real estate a huge boost. The South Beach restaurant Prime 112 says athletes, sportscasters and regular diners want to know if they'll still be able to get tables there now that even more celebrities will be showing up. Miami prices are still well below its peak, but James could end up getting a bargain on a luxury property. Wherever he decides to sleep, you can guarantee his community will be fired up as well as market prices in that area.
If James wants to hang in at a bachelor pad in one of Miami luxury condos he could get a high-rise in downtown Miami or South Beach. Judging from the mansion James will be leaving behind in Ohio, a condominium would likely mean a major space demotion. So contemplative realtors are betting he'll end up in a single-family home.
Rumors are spreading through Miami that James had put in a $49.5 million offer on a Gables Estates home being sold by auto magnate Alan Potamkin. It’s dubbed “the second-highest priced property in Dade County” by Alex Shay, a Miami-based luxury Realtor.
As Miami gets closer to the Heat wave, you can bet your bottom dollar that the influx of movie stars, athletes and music artists will increase tourism in South Florida, as well as its real estate.
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