NBA forward Luol Deng has carved out a second career as a successful real estate investor, and sometimes that means having to lower your price.
Deng has sliced the asking on his 1.2-acre hillside property in Brentwood to $6.9 million from its original $7.5 million, according to the Los Angeles Times. He listed it earlier this year.
But the 34-year-old league veteran probably won’t sweat it. Over the years he’s amassed $125 million worth of commercial, hotel, and residential properties, according to Forbes. He’s currently working on a $25.6 million deal for 23 multifamily buildings in Chicago, where he played for the Bulls. His former teammate, Derrick Rose, is also involved.
Deng is also a leading backer of an Opportunity Zone fund called “Our Opportunity,” which is looking to raise $300 million this year. At least a half dozen other NBA players are also involved in the fund, which is working on at least one project in L.A., according to reports.
Deng, a two-time NBA All-Star who is from Sudan, paid $6.2 million for the Brentwood property in 2016 after signing a four-year, $72 million contract with the Lakers. In 2018, he joined the Minnesota Timberwolves.
The property’s three-story home spans 6,500 square feet with seven bedrooms and 7.5 bathrooms. Compass’ Cynthia Ann Festa and Elana Fullmer have the listing. [LAT] — Dennis Lynch