sports stars real estate

Lenny Dykstra's Former Home Foreclosed

It was back in April 2009, that we first learned that the home belonging to former baseball player Lenny Dykstra was facing foreclosure. Now, over a year later, the home in Thousand Oaks, California which Dykstra bought from Wayne Gretzky, has been foreclosed on. Dykstra bought the mansion from Gretzky in 2007 for for $18.5 million (a price that included some of the furnishings) and first put it on the market in 2008 for $24.95 million.

CNBC reports that the winning bid came from Index Investors the lender which once loaned Dykstra around $600,000 before his financial collapse. The home was originally scheduled for a real estate auction last year but that was canceled after Dykstra filed for bankruptcy protection. At that point he listed less than $50,000 in assets with debts totaling between $10 million and $50 million.The lavish, Richard Landry-designed home has over 6.5 acres of space that includes three guest houses, formal gardens, tennis courts, pool, spa and gym. The neo-Georgian main house has six bedrooms. Before his financial downfall, Dykstra showed off the home in a New Yorker article in which he discussed the plans for his magazine, The Players Club, which would help sports players manage their investments.

Index Investors, which is run by Jeff Smith, bought the home for far less than Dykstra spent. Smith paid close to around the amount of money Dykstra owed Index, plus interest, between $600,000 and $700,000. CNBC reports that Chase still has a lien on the property for its $12 million first mortgage and Smith is working with Chase to come to an agreement that would have Smith fixing up the mansion and selling it with both parties sharing the profits. The home has suffered some damage in involved with Dkystra's exit. He removed fixtures and flooring to show water damage to the property seeking payment from Fireman's Fund. The insurer has agreed to repair damage in this mansion and another that Dykstra owns in the area. That home was on the market last year for $4.7 million.

The Gretzky mansion had a most recent asking price of around $10 million, after renovations it should be back on the market for around $10.5 million which is still quite the deal considering previous prices.

Gallery: Lenny Dykstra in Thousand Oaks

Tags: celebrity real estate, Lenny Dykstra, sports stars real estate, thousand oaks

Pitcher Ted Lilly Lists Chicago Home

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping, Sports

Last month we learned that Los Angeles Dodgers pitcher Ted Lilly was putting his Chicago home up for market. Now, Housing Watch led us to the listing. Lilly, who used to play for the Cubs is yet another sports star who may end up losing money on a home he bought in a town he no longer plays for; Housing Watch reports that Lilly bought the home in 2006 for $2.15 million bit it is listed for $2.1 million with Mike Lavorato of d'Aprile Realty.

The 5,500-square-foot Chicago home is located near the Chicago Cubs stadium, Wrigley Field. The brick home on a corner lot has four bedrooms. Lilly and his wife, Natasha did the decorating and the home has a modest, casual appeal. Key features include a wine cellar, roof decks and a heated garage. It also has a self-contained backyard courtyard.

Gallery: Ted Lilly in Chicago

Tags: celebrity real estate, chicago cubs, chicago real estate, illinois real estate, los angeles dodgers, sports stars real estate, ted lilly

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Antoine Walker Facing Foreclosure

by Deidre Woollard (RSS feed) —

Filed under: Estates, Sports

Another former athlete is facing foreclosure. Housing Watch reported that former NBA star Antoine Walker, who has been trying to sell his Miami home since late last year, filed Chapter 7 bankruptcy in a Miami court. At that time he listed liabilities of $12.7 million including his Coconut Grove home. Mortgage lender SunTrust Bank was granted a relief from stay from a May Chapter 7 bankruptcy protection filing Walker made in Miami so that it could file a foreclosure lawsuit which it did in September.

Last year we wrote about Walker's debt situation after we learned that he had been arrested in a Lake Tahoe casino for writing bad checks to satisfy over $1 million in casino markers in Las Vegas. Walker is a known gambler who reportedly once played $15,000 hands with another known gambler, basketball great Michael Jordan.
J.P. Morgan Chase Bank, Wachovia Bank, and American Express Centurion Bank all won decisions against Walker for failing to pay off promissory notes. Over a decade ago when Boston signed him to a six-year, $71 million deal he was, at just 22 years old, instantly insanely wealthy. During the Boston Celtics season Walker stayed at the Bishops Forest condominium complex in Waltham and was known to have a variety of luxury cars including customized Bentleys, Mercedes and more. He also had a taste for expensive watches by Rolex and Cartier and enjoyed wearing custom-tailored suits. In 2007 Walker was robbed at gunpoint in his Chicago home. He bought the home for $4.1 million but put it on the market for $3.9 million after the robbery. In 2007 he also sold a townhouse in the same neighborhood for $1.39 million, he had bought the home for $1.3 million in 2004.

Walker bought the Florida home for $3.1 million in 2005 and signed the $2.15 million mortgage in March 2007, when he was still playing for the Miami Heat but like many players, he was traded around, first to Minnesota and later to Memphis. He retired in from the NBA in 2008. The five-bedroom home is now listed at an even $3 million with real estate agent Andre Shambley of the ERA Herman Group. The Coconut Grove home has a lap pool, Zen garden, a mother in law suite, separate maids quarters, walk in closets and more.

A Crain's Chicago Business article from last May says that Walker was hit with a $2.3-million foreclosure lawsuit on a mansion in south suburban Tinley Park that he bought for his mother. That article also goes into Walker's Chapter 7 filing which lists his other assets including his 2006 NBA championship ring, valued at $6,000 two Range Rovers and a $20,000 designer watch.The article also mentions gambling losses including $770,000 owed to Harrah's in Las Vegas and $500,000 owed to Ameristar Casino.

Gallery: Antoine Walker in Coconut Grove

Tags: antoine walker, celebrity foreclosure, celebrity foreclosures, celebrity real estate, florida real estate, miami real estate, sports stars real estate

Jim Palmer Cuts The Price Of His Florida Home

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping, Sports

The Wall Street Journal reported on another former athlete selling his Florida home. Retired Major League Baseball pitcher Jim Palmer spends most of his time in California so he is trying to unload his home in Palm Beach, Florida. The home slipped onto the market under our radar around a year ago for $3.4 million but is now listed for $2.85 million through Corcoran.

Palmer spent 19 years playing for the Baltimore Orioles. His wife Susan is an interior designer which explains the blandly perfect decor of the home. The pair purchased the 1940-built home in 2001 for $1.6 million and renovated it. The 4,100-square-foot, three bedroom home is about a block from the beach and also has a swimming pool in the back yard which is visible from the glass-surrounded family room.

Gallery: Jim Palmer In Palm Beach

Tags: celebrity real estate, estate of the day, florida real estate, Jim Palmer, palm beach, sports stars real estate

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Dikembe Mutombo Lists Trump Place Apartment

by Deidre Woollard (RSS feed) —

Filed under: Estates, Celebrity Shopping, Sports

Former Houston Rockets center Dikembe Mutombo has made the most of his post-basketball career, raising money through his charitable foundation. He was praised by President Bush in his 2007 State of the Union address for helping to build the first new hospital in the Republic of Congo, Mutombo's homeland, in 40 years. The NY Times Big Deal column reports that the seven-foot-two-inch athlete has put his apartment at Trump Place in New York City up for sale for $4.5 million.

The unit is a three-bedroom condo on the 42nd floor. It is around 1,900 square feet and property records from Property Shark indicate that he bought the unit for $2.576 million in 2004. The apartment has river and skyline views from all three bedrooms. Building amenities include a health club, business center, valet service and party room. The apartment is listed by Heather E. Stein of Brown Harris Stevens.

Gallery: Dikembe Mutombo at Trump Place