As was previously reported, Lebron James has listed his Miami Mansion for $17 million late last year.
Thereafter, the Prodigal Son of Akron has since moved on with his return to his former home, and is now trying to lead his Cavaliers into the thick of things in the ongoing NBA season's final stretch.
Meanwhile, the King's palace in Coconut Grove has remained barren and left unwanted.
So, whatever happened to the commercial appeal of the very same man that has sold jerseys more than anyone else for the last five years, and has earned his way into Forbes 2015 list's third highest-paid athlete ranking through endorsements and sponsorships amounting to $53 million?
We could put our conspiracy theorists' hat on and speculate that, maybe, the property's potential buyers were mostly Miami Heat faithfuls still clinging to the far-fetched idea of a future return of the king that they are so desperately trying to thwart any attempt of the mansion's sale; or, better yet, they still so loathe him for ditching them, and they wouldn't want the mansion for anything other than to burn it down.
None of these preposterous ideas are valid, though. Chris Leavitt, luxury sales director for Douglas Elliman, told Realtor that the mansion wasn't getting enough attention because: LOCATION.
Had it been placed on one of Miami's prime locations, the property would have probably flown off the market just as fast as LeBron James could fly by the whole length of a basketball floor.
But, that wasn't the case.
The asking price of $17 million would have been a beggarly sum in upmarket locations such as Star Island, Palm Island, Indian Creek Island, or North Bay Road according to Leavitt; to the contrary, the current current zip code has turned it into more like a king's ransom. And, not even the property's "celebrity status" could turn the tide in its favor.
He said that luxury-home buyers would prefer properties that are situated on the coveted Miami Beach neighborhoods.
On potential buyers of the mansion: Leavitt said that clients who haven't been bitten by the South Beach party bug are your best bet. "I would focus on the privacy. It's close enough to the action, but it's far away enough that you're not in the hustle and bustle. It's very serene and peaceful down there", he said.
The ultra-cunning and cold-heartedly savage Frank Underwood may have gotten it right after all: "Power is a lot like real estate. It's all about location, location, location". Unfortunately for Miami's "Kingforsaken Palace", its selling power has been scaled down.
And, not even His Royal Highness could do anything about it, thus far.
