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Miami real estate news

NBA All-Star Kevin Love has made a significant real estate move by purchasing a home in Miami's Coconut Grove for $9.5 million. Love, a power forward for the Miami Heat, along with his wife, Kate, acquired the property through a trust and financed the purchase with a $6.1 million mortgage from Morgan Stanley.

Kevin Love's journey in the NBA began in 2008 with the Minnesota Timberwolves, followed by a stint with the Cleveland Cavaliers in 2014, before joining the Miami Heat last season. He signed a two-year contract with the Heat worth $7.9 million.

The Coconut Grove home spans 6,400 square feet and features seven bedrooms, seven bathrooms, a wine cellar, and a pool. The property was listed for nearly $10 million by Brett Eaglstein and Eli Faitelson with the Chad Carroll Group at Compass, who declined to comment on the sale.

The house was sold by a company led by Carlos Fontecilla and Justin Drexler. Completed in 2023, the home sits on a third-acre lot. This purchase adds to the trend of NBA players acquiring multimillion-dollar homes in areas ranging from Pinecrest to Sunny Isles Beach. Recently, Miami Heat shooting guard Tyler Herro bought a $10.5 million mansion in Pinecrest, and Victor Oladipo, a former Heat player, sold his Miami Beach home on Hibiscus Island for $9 million.

In late 2022, LeBron James, a Los Angeles Laker and former Miami Heat star, purchased a $9 million unit at the oceanfront Estates at Acqualina in Sunny Isles Beach. Interestingly, James' former Coconut Grove mansion was recently sold for $18.5 million, highlighting the continued interest in luxury properties in the Miami area among high-profile athletes.

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