Dwayne Johnson and his new Broward County home
Wrestler, actor and former University of Miami football player Dwayne “The Rock” Johnson has purchased a home in Southwest Ranches from Miami Dolphins player Vernon Carey, a fellow UM alumnus, the Sun Sentinel reported. Johnson paid $3.45 million for the 13,000-square-foot home, which is located in the Landmark Ranch Estates development. [more]
Tony Sparano and his Davie home
Former Dolphins coach and current New York Jets offensive coordinator Tony Sparano has cut the asking price on his home in Davie, the South Florida Sun Sentinel reported. The price has been lowered to $1.39 million from $1.49 million on the home, which is located in the Stonebrook Estates community. “He’d like to sell it and be done with it,” said Connie Voke, Sparano’s broker. Sparano joined the Jets in January after being fired by Dolphins owner Stephen Ross in December. [Sun Sentinel]
Miami Dolphins owner Stephen Ross has negotiated a loan modification on the CityPlace mixed-use development in West Palm Beach, following a foreclosure by Miami Beach-based special servicer LNR Partners, according to the South Florida Business Journal. While complete terms were not disclosed, the deal likely lowers the monthly payments on the loan. CityPlace is the largest delinquent commercial loan in South Florida. [SFBJ]
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Miami Dolphins head coach Tony Sparano put his Davie home up for sale this week, although the reason is not job-related, he said. The house is listed at $1.49 million and is located at 12467 Ridgeway Court in Davei’s Stonebrook Estates. Sparano indicated that he had put his home on the market previously and then later removed it, but now plans to move closer to the beach. [more]
The Miami Dolphins could be in the market for a casino license if Florida’s legislature expands gambling statewide, possibly in the land surrounding SunLife stadium. And the Dolphins aren’t alone — Miami Beach could seek a similar deal, potentially at the Miami Beach Convention Center. “That has been talked about,” said Miami Beach Mayor Matt Bower. “People have said maybe this is a place to put [a casino].” There are a series of obstacles on either side, including the NFL’s prohibition on gambling. [more]
Real estate mogul and Miami Dolphins owner Stephen Ross may have to return the $1.1 billion he raised to invest in a vehicle called SJB Escrow. Ross raised funding from firms like Greenlight Capital, Maverick Capital and Elliott Management more than a year ago, but if no investment is made by August, the money must be returned, a source said. SJB was an initial bidder for ING’s online banking wing, but later withdrew. [The Street]
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Miami Beach commissioners unanimously voted Wednesday to support a yet-to-be-filed state bill that would create a funding mechanism for a proposed renovation of the city’s aging convention center, but not for Sun Life Stadium, home to the Miami Dolphins. The vote reinforces the city’s position that the two renovation projects should not be linked, and that the football team should not get public money to revamp its stadium, the Sun Sentinel reported. The bill would enable a 1-cent increase of the county’s convention development tax, which would have to be approved by county commissioners. [more]
The Miami Dolphins are seeking a change in state law that would let Broward County spend hotel taxes across county lines, on a $225 million renovation of the team’s stadium in Miami-Dade, according to the Miami Herald. Mike Dee, Dolphins CEO, revealed the proposal in a speech before a business group in Miami today, describing a funding package that would also use Miami-Dade hotel taxes to fix the 1987 stadium and pay for a major renovation of the Miami Beach Convention Center. While the Dolphins have sought Miami-Dade hotel taxes for at least a year, the public bid for taxes in Broward marks an escalation in the team’s effort to persuade taxpayers that the stadium is a major economic boost for the region. [more]
Former Miami Dolphin Patrick Surtain is battling with current Dolphins wideout Brandon Marshall over the home Marshall bought last month for $4.15 million, one of the year’s biggest athlete real estate deals. Surtain and his wife have sued the developer of the home, Landmark Custom Ranches, claiming they entered a deal to buy the home in 2007 for $5.2 million. “It’s been a nightmare,” said Michelle Surtain. “The strangest part about it, the part we can’t understand or grasp, is how the [Marshall] closing even occurred. We had the documents.” The builder declared the Surtains in default in March 2010 after they weren’t able to get financing because the appraised value was $1.8 million less than the agreed-upon sales price. [Sun Sentinel] [more]
South Florida was just as shocked as the rest of the sporting world when LeBron James and Chris Bosh decided to join the Miami Heat in July, but a banner year for Miami sports has turned into a solid one for the higher-end real estate market, with Miami Heat’s Big Three — James, Bosh and Dwyane Wade — leading a year of high-profile purchases and sales by local athletes. The Heat stars weren’t the only ones buying or selling high-end properties in South Florida — athletes from baseball, football and basketball have purchased some of the area’s biggest and most expensive homes in 2010, led by Chris Bosh. See the list after the jump. [more]
