Luxury Real Estate Participates in the Growth Trends of Real Estate Transactions for Famous Celebrities in Florida
According to the Tampa Bay Business Journal, once owned by George Stein Brenner, the owner of the legendary New York Yankees, Southern Pa Waterfront Estate is on the market for $12 million. The vast facility at 5002 S. Shore Crest Circle in the famous Beach Park district was listed by Florida Compass on Friday.
The 1.34 acres of property includes an 8,567 square foot main house and another 1,565 square foot guesthouse. Built in 1975, the house was purchased in 1986 by George and Joan Steinbrenner for $1.4 million. The couple sold it to current owners John and Tracy Bales in 2004 for $2.9 million. Tracy Bales, president of Bales Security, has assured that the property will include the security guard’s home. This is an amenity compass that is said to provide “peace of mind” to residents.
Gate Estate offers plenty of privacy and includes a transfer boat dock with lifts, providing direct access to Tampa Bay. In its marketing material, Compass called it “an oasis of tranquility and security in one of Tampa’s most popular regions.”
This list reflects a broader trend in real estate transactions for famous celebrities across Florida, where more and more public figures are investing in luxury properties.
Earlier this year, music icon John Bon Jovi sold an incredible $22 million just a year after purchasing the land. Meanwhile, supermodel Gisele Bundchen has closed at his $9.1 million surfside home, over the water from his former residence with NFL star Tom Brady.
In Miami, NBA legend Dwyane Wade and actress Gabriel Union recently sold their Gate Hiddo Hills-style property for $22 million, setting a record in the North Bay Road Area. These eye-catching sales are part of Florida’s wider luxury real estate boom, supplemented by lower taxes, warmer climate and increased celebrity migration to Sunshine State.
Regarding Steinbrenner’s previous home, Mike Hughes, a Florida Compass listing agent, said the property “provides an unusual opportunity to own sports history in one of Tampa’s most exclusive enclaves.” It’s another sign that the Florida luxury market hasn’t shown any signs of cooling, as the property already appears to be on sale at the full asking price.
