Bernie Kosar In Weston, Florida, Estate of the Day
Like quarterback Dan Marino, former NFL quarterback Bernie Kosar has a home in Weston, Florida for sale. But Kosar's situation is a bit more urgent. Kosar has filed for Chapter 11 bankruptcy protection with his top 20 debts clicking in at $19.5 million including around $1.5 million to his former team the Cleveland Browns. Small wonder then that his Florida home is up for sale. Kosar has not paid the property taxes on the home for the last couple of years.
Kosar's home in Weston is a 9,900 square-foot mansion on the lake which has a large backyard area with a summer kitchen, pool, spa and cabanas. It is located in the same community, Windmill Ranch Estates, that Marino lives in and the home has a similar Florida Mediterranean style. This ample residence includes an office/library, a kitchen and a separate butler's kitchen and seven bedrooms. This home is listed at $3.5 million.
Kosar's financial woes seem to stem from a number of factors including Florida's depressed real estate market and some bad investing advice. His top creditor is Florida Bank which is owed $9.7 million in real estate development foreclosures. He also owed KeyBank $3.2 million for loan guarantees and a personal line of credit and owes his ex-wife Babette Kosar $3 million from the couple's divorce settlement. Like many ex-football players, he was also in the restaurant business. His Bernie's Steakhouse, a Miami-area restaurant closed last year. Kosar is said to be optimistic about his ability to get out from under his debt and he has many supporters in Cleveland and elsewhere cheering him on.
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[via Move Trends]
Gallery: Bernie Kosar In Weston, Florida