Kobe Bryant Looking to Offload Newport Coast Mediterranean Estate

Basketball star Kobe Bryant is looking to sell his Mediterranean Estate in Newport Coast. Originally listed in August of 2013 for $8.599m, the list price was recently cut on January 22, 2015 to the “bargain” price of $6.995m.

Listing and Sale History of Kobe Bryant Estate

The property was originally built and acquired by NBA sports agent Dwight Manley in 1997 for $1.7m. Kobe Bryant acquired it from Mr. Manley in 2001 for an undisclosed amount. He transferred the property to his wife Vanessa Bryant in 2012.

The property was listed for sale by Kobe Bryant and his wife Vanessa in August of 2013 for $8.599m. They reduced the price in April of 2014 to $7.999m, and reduce it again in September of 2014 to $7.599m. They dropped the price again last week to $6.995m.

Description of Kobe Bryant Estate

The 4 bedroom, 5 bathroom, 8,471 square foot home sits on almost half an acre of land overlooking the Pacific Ocean. Set behind private gates in a guarded community, the home includes an interior gym, a hair salon, an office/library with a shark tank, and a theater with a lobby and wetbar. Additional images are available here.

Recent Comparable Sales and Valuation Analysis

Despite the multiple reductions in list price, the $6.995m price tag remains optimistically high. Although the Kobe Bryan estate is one of the larger available homes in the area, there are many other homes on the market in the neighborhood in the $4m-$5m price range that are equally elegant. Moreover, this home’s recent sale at $4.35m, just down the street from the Kobe Bryant estate, makes an asking price of $826 per square foot seem relatively high. Of course, there is something to be said for having a shark tank in your office/library, so only time will tell whether the property will sell at its current asking price.

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