Why Michael Jordan’s $50 Million Mansion Sold For Way Less

Benzinga

Michael Jordan faced an unexpected challenge in selling his 56,000 square foot Highland Park mansion, which featured numerous luxury amenities. Despite its impressive features, including an NBA regulation basketball court and a wine cellar, the ultra-customized home sat on the market for 12 years. Originally listed at $29 million, it eventually sold for just $9.5 million. The difficulty in selling the property highlighted how market dynamics can affect even the most prestigious names and opulent homes.

Transcript

00:00Michael Jordan, a name synonymous with success, faced an unexpected challenge off the court,

00:05selling his $50 million mansion.

00:08This 56,000 square foot Highland Park estate had it all, an NBA regulation basketball court,

00:14a lavish wine cellar, and even gates adorned with his iconic number 23.

00:19But here's the twist, it sat on the market for an astonishing 12 years.

00:24Originally listed for $29 million, the price kept dropping until it finally sold for just

00:29$9.5 million, less than 20% of what he spent building it.

00:35Why so hard to sell?

00:36The home was ultra-customized and way beyond what most buyers wanted or needed.

00:41The takeaway?

00:42No matter how big the name or the house, sometimes the market has its own rules.

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