LeBron James, Los Angeles Lakers. (Photo by Sean M. Haffey/Getty Images)
LeBron James has officially sold one of his Brentwood mansions, albeit for a financial loss.
It is official. LeBron James now has one less Brentwood mansion in the Greater Los Angeles Area.
The Los Angeles Lakers superstar initially put one of his Brentwood Park mansions on the market back in the spring. While this is the one he has not lived in for several years, he was able to recoup $19.6 million of the $21 million he paid for it back in 2015 when he was still a member of the Cleveland Cavaliers. James’ original asking price for it was $20.5 million only six months ago.
James lost $1.4 million on his auxiliary Brentwood Park mansion he bought nearly six year ago.
LeBron James sells his second Brentwood mansion for over a million dollar loss
For essentially a billionaire, losing over $1 million on a real estate transaction is chump change. This is a 9,000-square foot mansion on the same Rockingham Drive O.J. Simpson made infamous over a generation ago. James reportedly sold this second mansion to Los Angeles real estate mogul Hon “Alexander” Shing in an off-market deal. $19.6 million is what it is now worth.
The real estate market can be fickle, but selling a property at a loss is never a great strategy.