The Real Deal Miami

LeBron’s manse sells to Mayfair in the Grove owners: $13.4M

Sale price was $1.6M under last ask
By Francisco Alvarado | August 25, 2015 04:30PM

Basketball star LeBron James and 3590 Crystal View Court in Coconut Grove

After months of speculation, a company controlled by Mayfair in the Grove owner Timo Kipp and his wife Nathalia Kipp has officially purchased LeBron James’ Coconut Grove mansion for $13.4 million, The Real Deal has learned.

Timo and Nathalia Kipp, listed on corporate records as co-managers of buyer Panda Home LLC, told TRD the transaction closed Tuesday afternoon.

“We’re going to use it as our primary residence,” said Timo Kipp. “We always thought the price was too high and we were able to negotiate it down,” he added. Nathalia Kipp acted as the broker for herself and her husband.

James’ listing agent, Tomi Rose of Opulence International Realty, declined to comment, but said the closing would take place Tuesday.

When he put the 12,178-square-foot home on the market in October 2014, James originally wanted $17 million, which was $8 million more than what he paid in 2010. But the sale stagnated for more than a year, forcing the NBA superstar to lower the price for the mansion at 3590 Crystal View Court by $2 million.

In June, the MLS showed a pending sale for the property, which features a dedicated 4,500-square-foot guest section with a lounge and game room, an infinity-edge pool, an outdoor kitchen and a concrete dock with space for two 60-foot yachts. The home also has a private theater, office and a wine cellar fit for a sommelier.

Kipp also represented her husband in two June real estate transactions. On June 12, Annoying LLC, which lists Timo Kipp and his business partner Maria Vieira as managers on corporate papers, bought a five bedroom estate at 25 Tahiti Beach Island Road in Coral Gables for $4.5 million from George Thermiotis. The same day, Timo Kipp flipped 3525 Anchorage Way, a five-bedroom mansion previously owned by Miami Heat ex-player-turned-team-executive Alonzo Mourning, for $7.1 million to Thermiotis.

Nathalia Kipp is licensed with Mayfair Real Estate Advisors, her husband’s company.