Ricky Martin sells Miami Beach house for $10.6 million

24 Apr

 

 
 

Martin Jason Kempin / Getty Images

 

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BY JOSE LAMBIET

JOSE LAMBIET

Livin’ La Vida Loca singer Ricky Martin has finally sold his breathtaking Miami Beach mansion. According to MLS real estate records, the sale — for $10.6 million — closed Thursday.

The name of the buyer has yet to be published in Miami-Dade County records. However, news reports in December indicated that musical power couple Jay-Z and Beyonce took a long, hard look at the house.

The 10,000-square-foot, seven-bedroomer faces the bay from North Bay Road, just a long three-pointer from the homes of Miami Heat starsDwyane Wade and Chris Bosh, and up the road from Bee Gees frontman Barry Gibb.

Martin, who now stars in Evita on Broadway, wanted $12.5 million. But the house, built in 2004, was sitting on the market on and off for nearly five years.

The Puerto Rican singer bought it in May 2005 for $10 million, according to records. The property was listed for $19.5 million in 2008, but Martin steadily decreased his price as the economy went south.

Martin, 40, has been a visible, well-liked presence in South Florida for almost 20 years. But the North Bay Road sale is Martin’s second in the area in six months. He also sold his beachfront digs in Golden Beach for $6.3 million in the fall.

Will Martin ever come back?

“Ricky Martin has such strong ties to Miami that he will always consider it his home alongside Puerto Rico,” said spokesman John Reilly. “As much as Ricky loves [South Florida] … Ricky is currently performing eight shows a week at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute.”

http://www.highendluxuryrealty.com

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