Former Dodgers player sells waterfront Palm Island spec home for $17M

Retired baseball player Alex Guerrero left the diamond and found real estate.

The former Dodgers outfielder sold a waterfront spec home on Miami Beach’s Palm Island for $17.2 million, records show. Guerrero’s Florida entity, AG 07 Investments LLC, sold the house at 216 Palm Avenue to Fred Courtot, according to property records.

Courtot is CEO and founder of ModFind, a website for buying and selling car parts.

Lourdes Alatriste of Douglas Elliman had the listing, and Robert Barr of R Florida brought the buyer.

Guerrero defected from Cuba in 2013 to play in Major League Baseball, and signed with the Los Angeles Dodgers in 2014. His deal was worth a reported $28 million, including a $10 million signing bonus, but he was released from the team in 2016 after injuries kept him off the field. Guerrero went on to play in Japan’s Nippon Professional Baseball league from 2017 to 2019.

For Guerrero, baseball was his daytime gig. Much like other star athletes, Guerrero took his multimillion-dollar contract and started investing in real estate shortly after signing with the Dodgers. He bought a mansion in Weston for $2.5 million in 2014, records show. His AG 07 Investments entity bought the previous home on the Palm Island site for $3.1 million in 2016, according to property records.

Guerrero rented out that house for a few years before tearing it down to build a spec home, Realtor.com shows. The new house, completed last year, spans 5,000 square feet, with six bedrooms, six bathrooms, and one half-bathroom, the listing shows. It sits on 0.2 acres and has a pool, records show. 

Guerrero initially listed the home in 2021 for $14.5 million. He bumped the asking price to $25 million last year, before dropping it to $19.9 million in January. The final sale price is more than $2 million below that last asking price, Realtor.com shows.

Barr said he knew the listing would have a lot of interest once it was priced under $20 million.

“When they’re priced properly, inventory is moving,” he said. “Palm and Hibiscus [islands] are extremely desirable still.”

While the South Florida market has slowed from its pandemic frenzy, price growth remains strong for luxury waterfront homes. 
Earlier this month, a waterfront Hibiscus Island home sold for $16.2 million, 13 months after it sold for $15.6 million. Also this month, spec developer Pascal Nicolai sold a waterfront Venetian Islands home for $21 million, marking the most expensive sale on the islands this year. Elsewhere in Miami Beach, jeweler Paul Morelli sold his waterfront North Bay Road mansion as a teardown for $22.9 million.