NBA player, real estate mogul Luol Deng drops price of Brentwood pad

The former LA Laker who is involved in a separate Opportunity Zone fund, bought the home after signing with the team in 2016

TRD LOS ANGELES /
Jul.July 26, 2019 03:00 PM
Luol Deng and his Brentwood home (Credit: Getty Images, Realtor)
Luol Deng and his Brentwood home (Credit: Getty Images, Realtor)

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


Related Articles

arrow_forward_ios
Oprah Winfrey and Jeff Bridges with the home (Credit: Getty Images and Realtor.com)

Oprah has now paid $86M acquiring Montecito real estate

Jonas Brothers set real estate records in Encino

Jonas Brothers set real estate records in Encino

William Harold Borthwick, Charlie Munger, and the Barry Building (Credit: Adrian Scott Fine/L.A. Conservancy)

Berkshire vice chair’s family moves to demolish landmark building

Mohamed Hadid and his ill-fated spec mansion

Hadid’s Bel Air mansion must be torn down: city

Simon Fuller and his wife, Natalie

Off key: “American Idol” creator cuts price on Bel Air home

The Getty Fire (credit: Los Angeles County Fire Department Air Operations)

Brentwood sees mass home evacuations as Getty fire rages on

Kawhi Leonard and LeBron James with their California homes (Credit: Getty Images and Redfin)

Real estate rivalry: How the stars of the Lakers and Clippers live

Rachel Bloom and Matt Leinart (Credit: Getty Images)

Actress Rachel Bloom sues Matt Leinart-tied developer over house defects

arrow_forward_ios