UPDATED, April 6, 3:20 p.m.
Jeff Schwartz, the preeminent agent for National Basketball Association athletes, sold his Coral Gables estate for $12.4 million.
Records show Jeff and Natalie Schwartz sold the mansion at 5201 Oak Lane to Frank Joseph Gonzalez Esposito and his husband, Marc David Troisi.
Oren Alexander and Jennifer Goldstein of Official had the listing, and Carl Gambino of Compass brought the buyer.
Jeff Schwartz is a sports agent and founder of Excel Sports Management, a management and marketing firm for athletes, based in New York. Schwartz counts Nikola Jokic, Russell Westbrook, and Kevin Love among his clients. Forbes ranked him as the second most powerful sports agent in the country last year (after an agent who specializes in baseball), and estimated his commissions for the year at $86 million.
The Schwartzes bought the 1.4-acre estate in Coral Gables’ gated Snapper Creek Lakes community for $5 million in 2020. The 7,900-square-foot mansion, built in 1957, spans seven bedrooms, six bathrooms, and one half-bathroom, records and the listing show. The couple completed an extensive renovation of the home last year, according to the listing. The property includes a saltwater pool, an outdoor shower and a gym, the listing shows.
The estate first listed for $14 million in January, and sold when it dropped to $12.4 million last week, Redfin shows.
A corrective deed for the sale shows a new mailing address for the Schwartzes as Schwartz’s office at 3480 Main Highway, Suite 401, in Coconut Grove.
Demand and prices for Coral Gables luxury real estate have surged in the three years since the Schwartzes bought their home. The market skyrocketed during the pandemic, and is now beginning to come down to earth, reflected in increasingly frequent price reductions.
Trial attorney John Ruiz sold one of his waterfront Coral Gables mansions for $30 million in January, a significant discount from the $45 million he originally asked. Self-storage mogul Jay Massirman sold his Coral Gables home for $10 million this month, after first listing it for $14 million in October 2021.
Also this month, Leon Medical Centers boss Benjamin Leon III sold a 1-acre waterfront lot in Coral Gables for $10.4 million.