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Former NBA All-Star Carlos Boozer has listed his Mediterranean-style estate in the exclusive Pinecrest, Florida, area for $3.95 million. Purchased in 2012 for $1.8 million, the property represents a significant potential capital gain for the athlete, underscoring the strong appreciation in the South Florida real estate market. This single-story mansion, situated on a full acre, offers seven bedrooms, 8.5 bathrooms, and a host of luxury amenities, including a custom pool, a basketball court, and a separate guesthouse.
What are the key features of Carlos Boozer's Pinecrest home? The 7,250-square-foot residence is designed for luxury and entertainment. Double gates open to a grand entrance with a circular driveway. The interior is defined by marble flooring and custom ceilings throughout. Key living areas include a formal dining room, a living room with a coffered ceiling and French doors, and a chef's kitchen equipped with high-end appliances, a stone island, and a breakfast nook that flows into a family room. The master suite features direct patio access and a spacious bathroom with a soaking tub and separate shower. The outdoor space is a private resort, complete with a custom pool and spa, a dedicated basketball court, a beach area with a fire pit, and a full outdoor kitchen and bar.
How does the property's value reflect the current Pinecrest market? Based on our experience assessment, the asking price of $3.95 million is consistent with premium properties in Pinecrest, a sought-after suburb of Miami known for its top-rated schools and lush, spacious lots. The estimated $2 million gain from the original 2012 purchase price highlights the area's robust market growth. For context, the following table illustrates potential tax implications on such a gain for a primary residence, though individual circumstances vary.
| Scenario | Capital Gains Exclusion for Primary Residence | Taxable Gain (Estimated) |
|---|---|---|
| Primary Home (Lived in 2 of last 5 years) | Up to $500,000 (for married couples filing jointly) | Potentially $0 |
| Investment/Second Home | $0 | Approximately $2 million |
Note: This is a simplified example. Capital gains tax is a levy on the profit made from selling an asset. Consulting a tax professional is essential.
What is the story behind Carlos Boozer's history with real estate? Boozer's history with luxury properties includes a notable transaction involving music icon Prince. In 2004, Prince rented Boozer's 10-bedroom West Hollywood mansion for a reported $95,000 per month. The tenant famously made extensive unauthorized alterations, such as painting pillars purple and converting rooms, but reportedly restored the property to its original condition upon moving out. This anecdote serves as a reminder of the unique considerations involved in high-value rental agreements and the importance of clear contract terms.
What should potential buyers consider about this property? The home includes modern conveniences like a comprehensive 16-camera Crestron security system and a 20-kilowatt Generac generator, ensuring privacy and uninterrupted power. The inclusion of a one-bedroom guesthouse adds value for visitors or potential rental income. The acre lot provides ample space and privacy, a rare find in South Florida.
Conclusion The listing of Carlos Boozer's Pinecrest mansion offers a glimpse into the high-end real estate market. Key takeaways for interested parties or market observers include:
