You do recall former NBA champ Michael Jordan. Not only is he known as “the greatest basketball player of all times” but he is gaining a rap as the greatest home builder of all times! Jordan is completing a 28,000 square foot mansion in The Bears’ Club, Palm Beach County, Florida, near where Tiger Woods just completed his grand estate. The builder: Lavelle Builders out of Jupiter, Fla. Of course, Tiger’s estate is surrounded by water on three sides to, perhaps, keep the paparazzi (among other things) at bay. Jordan’s mega-mansion, which is still under construction, is not even close to the water. But it now goes down as one of the largest, most expensive homes ever built in Florida that is not on the water, says real estate agent Jeff Lichtenstein of Christie’s Great Estates and Illustrated Properties. Lichtenstein knows of what he talks: he sells real estate in the Palm Beach area, which is notoriously filled with high net worth people who like to enjoy a second or third home here because here they have it all: a backyard marina for their yachts, sea, beach, and plenty of gorgeous Florida sunshine.
Oh yes, and I almost forgot: golf.
Though waning with the general population, the wealthy still love to tinker on the greens. Jeff’s father, Cary Lichenstein, was a golf rater for GolfWeek Magazine and has been playing since he could walk. In fact, he lives so close to Jordan — in Admiral’s Cove – the elder Lichenstein could lend a hammer or nail to the twenty million dollar project.
The Jordan home will have 11 bedrooms, sits on a three-parcel site right in the backyard of the uber exclusive (and hard to get into) Bear’s Club. Let me put it to you this way: it costs $350,000 just to call yourself a member of the club. The area is loaded with courses designed by Jack Nicklaus, but he personally plays at Bears Club — so basically this area is golf nirvana and the membership list is a regular Who’s Who… stars, Fortune 400 execs, and the Nicklaus family.There are 55 residences ranging from $4 million on up to, well, probably Jordan’s home. When complete, Jordan’s mansion will be a contemporary with Spanish-style roof — this I have to see. It will have four separate structures: A main house, a guardhouse, a guesthouse and a poolhouse for the mammoth swimming pool. In other words, the largest spread in the ‘hood.
Neighbors once included chanteuse Celine Dion, who ran into a few problems with her HOA over her desire to add a commercial recording studio or music room to her property — deeds are so tough in this ‘hood that even if a home burns down, you have to re-build it to look just like the original home. I mean, can you imagine the disaster if a Mediterranean went up right next to — another Mediterranean?
Jordan paid $4.8 million for the land and is spending an estimated $7.6 million for the construction. The Lichtenstein boys estimate that the total booty will top $20 million, and they worry a bit about re-sale value:
“It would be interesting to see what the Jordan home resells for, being that its location, while great for MJ’s privacy, is not ideal for resale to the usual trophy-and-yacht buyer,”says Jeff.
Only his banker knows for sure!