Leavitt said the property has to be in the right location for the right price. And that’s where James has an issue. His home is located in the Coconut Grove neighborhood.
“What people really want is Star Island, Palm Island, Indian Creek Island, La Gorce Island, or North Bay Road. These are the premier real estate locations in Miami,” Leavitt said. “This is not, unfortunately, there.”
“It’s not a bad price per square foot, but I think it’s a tad high for that area,” he added about it being hard to find someone to write $17 million check.
“At this price point,” Leavitt said, “people aren’t impressed by who owns it. They don’t care. It doesn’t really matter to them. The people that buy these homes won’t say, ‘Oh my God, it’s LeBron James’ home, I’m going to buy it.’”
Leavitt said it’s a good idea to focus on using the seclusive area as a selling point to potential buyers who don’t want to live in a party atmosphere.
“I would focus on the privacy,” he said. “It’s close enough to the action, but it’s far enough away that you’re not in the hustle and bustle. It’s very serene and peaceful down there. It is one of the most wide-open bay views you’ll find. There are lots and lots of great attributes.”