Originally posted on Busted Coverage  |  Last updated 8/20/12

Are you in the market for a Miami Beach house with waterfront access, 6,400 sq. ft. of living space and ceilings that can accommodate a 7-foot-3 NBA center? Zydrunas Ilgauskas has a house just for you. This guy went out and paid $4.7 million for this place in 2011. He then dropped huge money to gut the house and raise the ceilings so he’d quick hitting his head on the door frames.

The new price: $8.3 million.

Why the huge price increase, besides the complete renovation? Big Z’s realtor has a legitimate sales pitch.

“There was a ton of inventory on Miami Beach’s private islands — there were a lot of lots that had potential, for new construction homes,” Hertzberg said. “That inventory has completely disappeared.”

A number of current Miami Heat players have made their homes in Miami Beach, including Dwyane Wade and Chris Bosh, both of whom live on North Bay Road.

“This is the kind of home where buyers can come in and not change a single thing,” Hertzberg said. “I think there is a huge demand for that, particularly with the international market — they want to be able to come in and start enjoying the property right away.”

Noted.

Highlights of Big Z’s Miami Beach pad:

• 5 bedrooms, 8 bathrooms

• Sub Zero appliances!

• Has a gym house!

2.4 miles to Whole Foods

3.7 miles to Fontainebleau

Asking: $8.3 million

Mortgage: $37,000 before all the extras

[Buy Big Z's Expensive Miami Beach Pad - Trulia]


Filed under: Basketball
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