Interesting things have been happening for New York Yankees baseball player, Alex Rodriquez. Better known as A-Rod, this pro player is a fan favorite and he recently had his Miami home on the real estate market. This mansion style house includes 19,861 total square feet located on North Bay Road, right on Biscayne Bay.
The home, with the address of 4358 North Bay Road in Miami Beach, has a wide variety of features and amenities, like:
• A full sized gym
• A built-in sauna
• A steam room
• A full sized swimming pool
• 16 security cameras
• And much more
It may seem like a surprise that A-Rod decided not to sell at this time. However, since the real estate in Miami appreciates so quickly, it might be a wise decision. He left it for sale for a while, but at $38,000,000 it did not find buyers, but found renters.
Not just any renter could choose to pay the price for this house. Reportedly, the lease is for $125,000 a month. It seems like only another star or baseball player could afford it. However, an interesting group has taken residence in the mansion: royalty.
According to sources, the renters of Rodriguez’ mansion are Saudi princes. Of course, this makes sense with an American house fit for royalty. The only change that the princes have made is to bring in more air conditioning. Reports are that the princes chose to add a total of four all-new units to ensure the large house is as comfortable as possible.
Perhaps the reason why this gained so much attention would be the cavalcade of black Escalades that have recently been seen parked in front of the mansion.
By renting out his home, A-Rod can get steady money from the residence and then wait until the market reaches a higher upswing before attempting to sell it again. More and more developers and investors have found themselves doing the same thing in the hope that the market will continue its turnaround.
The good news is that experts say it will. Hopes are that the market will be on a long-term upswing with no new crashes or bubble bursts. This means more people will be buying and more investors will be selling, opening up the housing market extensively. People can expect to see housing prices going up and more buyers paying closer to the asking price than they once would have.
It’s not every day that a professional baseball player rents out his home to princes, but it does happen. It seems true that A-Rod’s mansion was actually fit for a king. With a hefty rental tag, it would take a prince to pay the lease on the house.