LeBron James has finally and officially sold his house for $13.4 million to Timo Kipp, the owner of the iconic 1980s Coconut Grove Mayfair in the Grove shopping mall nearby.
Curbed reported that the news has been out for months but it has now only been confirmed by The Real Deal. The house was originally listed by LeBron James for $17 million last October. It has been reported to be either 12,000 or 16,000 square feet, but may be including accessory structures.
After months of speculation, Timo Kipp and his wife Nathalia Kipp has officially purchased Coconut Grove mansion from LeBron James for $13.4 million. Timo and Nathalia Kipp, listed on corporate records as co-managers of buyer Panda Home Home LLC, closed the transaction on 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.
When LeBron James put the 12,178-square-foot house on the market in October 2014, he originally wanted $17 million, which was $8 million more than what he paid for in 2010. The NBA superstar was forced to lower the price for the mansion by $2 million when it became stagnant for more than a year.
According to the report of The Real Deal the property features a dedicated 4,500-square-foot guest section with a lounge and game room, a concrete dock with space for two 60-foot yachts, an infinity-edge pool, and an outdoor kitchen. The house also features a private theater, an office, and a wine cellar perfect for a sommelier.
Nathalia Kipp also represented her husband in two real estate transactions in June. On June 12, Timo Kipp and his business partner Maria Vieira bought a five bedroom estate at 25 Tahiti Beach Island Road in Coral Gables for $4.5 million from George Themiotis. The same day, Timo Kipp purchased a five-bedroom mansion previously owned by Alonzo Mourning for $7.1 million.
