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Kyrie Irving is one of the NBA’s brightest stars. But his real estate game definitely needs work.
After being traded to the Boston Celtics from the Cleveland Cavaliers in 2017, the 26-year-old point guard placed his home in Westlake, OH, on the market for $1.7 million last fall. With no buyers taking a shot, the price dropped in July 2018 to $1.17 million.
In the end, Irving got posterized—the home sold in early October for the much, much lower price of $755,000.
Not only did Irving fail to get anywhere close to ask, he didn’t even break even. The five-time All-Star purchased the upscale abode from former Cavalier Daniel “Boobie” Gibson in 2014 for $800,000.
On the other hand, given that the athlete is long gone, we’re guessing he was a very motivated seller.
It’s also not clear why Irving thought he could double his money on the home just three years after he bought it. The area, while certainly nice, isn’t exactly a million-dollar home market. According to realtor.com®, recently sold homes in Westlake have a median listing price of $325,000, and a price per square foot of $113.
And of the 368 homes sold in the home’s ZIP code over the past six months, only eight sold for a higher price than Irving’s listing.
Kyrie Irving’s Ohio home
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Grand entrance
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Living room with basketball hoop
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New kitchen
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Long driveway and hoop
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So what exactly did the buyer get for the heavily discounted purchase?
Built in 2007, the listing details for the home promise “So MANY incredible updates! This home will exceed your expectations!”
Let’s recap. Inside, the grand entrance of the four-bedroom home opens to a two-story living room, furnished with a hoop. Along with a formal dining room, the new kitchen opens to a casual family and eating space with access to outside.
A curved staircase leads upstairs to the bedrooms and a “luxurious” owner’s suite. The listing description also mysteriously mentions a secret door on the second floor, but doesn’t reveal what’s inside.
However, we know all about the lower level, which contains a baller-worthy paradise, with a bar, home theater, rec room, recording studio, exercise room, along with a bonus space. If you venture outside, you can practice your layups at the end of the long driveway, with the basketball hoop by the attached, three-car garage. The large lot also includes a deck and landscaping.
The home is close to restaurants and shopping at Crocker Park, a golf course, and highways. Another prime feature? If the new buyer is a fan of the Cavs, it’s a mere half-hour drive to the Quicken Loans Arena.
The post Kyrie Irving Gets Dunked On! NBA Star Sells Ohio Home for a Loss appeared first on Real Estate News & Insights | realtor.com®.
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