NBA's Bosh Scores Miami Beach House Deal

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Newly signed Miami Heat player Chris Bosh will join other all-stars and celebrities on Miami Beach's North Bay Road after snagging a brand new house for about 25 percent off its list price.

The reason he was able to get the $16-million listing for $12.5 million? Perfect timing. Summertime in Miami, before the hype of the NBA season and Art Basel, also had something to do with it. But ultimately it was developer Glenna Norton's influence, says Lourdes Alatriste of Engel & Voelkers, the agent on the sale.
"The developer [Norton] put her heart and soul into the house," Alatriste told HousingWatch, "making it into a contemporary oasis built specifically for someone who would be entertaining regularly and also wanted a modern, clean look.

"She wanted to sell it to someone who would enjoy it, who understood the house and would maximize the use of such a state-of-the-art home to its fullest potential."

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Here's how the deal ultimately went down, though: Bosh's agent, Diane Lieberman of SBI Realty, had already been communicating with Norton (the two know each other from Lieberman's extensive years working the luxury market in the area). So when Alatriste began pitching the home to Lieberman for Bosh, the interest already was there.

It was a quick sale, too. Bosh visited the home, and after the second visit it was clear that the basketball star was very interested. The main issue then was price.

"The owner [Norton] was already in Monte Carlo when Bosh began looking at the house, and so her being out of town, coupled with the fact that it was summer and the transaction was done so quickly, were major factors in the price dropping," Alatriste said. "If it had taken a little longer, the price would not have dropped so quickly."

There were many other buyers -- in particular, a couple from New York -- interested in the house. But by the time their offer was put in, the sale to Bosh was done.

Alatriste had a gut instinct that Bosh would be interested in the house for the simple fact that he's a young, talented and very tall basketball star. "When they are young and so driven, they want something modern, clean-looking and beautiful," she said.

The place has all the right accents: high ceilings, state-of-the-art entertainment room, open floor plan, and most importantly, it's on the water.

It's no secret that Miami Beach attracts many buyers to South Florida, especially celebrity ones. Actor Matt Damon, director Michael Bay, and Yankees third baseman Alex Rodriguez all have homes on the same street as Bosh's new residence.

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