What does a $110 million contract buy a person these days?

Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, FL. The home was once owned by Pat Riley, and was taken off the market shortly after “The Decision.”

The home is the most expensive in Coral Gables, and features: eight bedrooms and 11 bathrooms; 880 feet of waterfront; a master suite with a full gym; a private guest suite with its own tennis court and courtyard on an acre of land. a 150-foot dock. Taxes are about $1 million per year, with an additional $150,000 price tag for utilities.

South Florida auto magnate Alan Potamkin owns the home, and he has listed the home for $49.5 million. Life & Style reports it’s a “slam dunk” the home will soon belong to James.

Tags: lebron james, lebron james in miami heat, miami heat, miami real estate, the decision, where will lebron live

Posted on Tuesday, August 3rd, 2010 at 11:38 am and is filed under Community. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.