Report: LeBron James to Buy $49.5 Million in Home Coral Gables, Florida

Life & Style and also BandwagonerBuzz.com is reporting that LeBron James is going to Buy $49.5 million in Coral Gables. “King James” is going to have a very large slab of real estate in Coral Gables with this one. Now we don’t want to continue reportong in LeBron James’ every move considering he opted to play for the Heat instead of the Bulls. However lucrative real estate purchases with pictures are always entertaining.

Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, Fla. The home was once owned by Pat Riley, and was taken off the market shortly after “The Decision.”

The home is the most expensive in Coral Gables, according to Life & Style, and features:

• eight bedrooms and 11 bathrooms;

• 880 feet of waterfront;

• a master suite with a full gym;

• a private guest suite with its own tennis court and courtyard on an acre of land.

• a 150-foot dock

Taxes are about $1 million per year, with an additional $150,000 price tag for utilities. South Florida auto magnate Alan Potamkin owns the home, and he has listed the home for $49.5 million.

Life & Style reports it’s a “slam dunk” the home will soon belong to James.

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