Retired baseball player Alex Guerrero left the diamond and found real estate.
The former Dodgers outfielder sold an oceanfront-spec home in Miami Beach’s Palm Islands for $17.2 million, records show. Guerrero’s Florida entity, AG 07 Investments LLC, sold the home at 216 Palm Avenue to Fred Courtot, according to property records.
Courtot is the CEO and founder of ModFind, a website for buying and selling auto parts.
Douglas Elliman’s Lourdes Alatriste is listed for sale as Florida Republican Robert Barr brings in a buyer.
Guerrero defected from Cuba to Major League Baseball in 2013 and signed with the Los Angeles Dodgers in 2014. His contract was reportedly worth $28 million, including a $10 million signing bonus, but he was fired by the team after an injury in 2016 kept him off the field. Guerrero went on to play in the Japanese Professional Baseball League from 2017 to 2019.
For Guerrero, baseball is his day job. Like other star athletes, Guerrero secured a multi-million dollar contract and began investing in real estate shortly after signing with the Dodgers. Records show he bought a Weston mansion in 2014 for $2.5 million. His AG 07 Investments entity bought the old Palm Isle home in 2016 for $3.1 million, according to property records.
Guerrero rented out the house for a few years before tearing it down to build a spec home, Realtor.com shows. The new home, completed last year, is 5,000 square feet and has six bedrooms, six bathrooms and one-and-a-half bathrooms, according to the listing. Records show it sits on 0.2 acres and has a swimming pool.
Guerrero originally listed the home in 2021 for $14.5 million. He raised his asking price to $25 million last year before dropping it to $19.9 million in January. The final sale price was more than $2 million below the last asking price, according to Realtor.com.
Barr said he knew there would be a lot of interest in going public once the price tag was below $20 million.
“When pricing is right, inventory moves,” he said. “Palm and hibiscus [islands] Still very desirable. “
Even as the South Florida market has slowed from the frenzy of the pandemic, price growth for luxury beachfront homes remains strong.
The Hibiscus Island waterfront home sold for $16.2 million earlier this month, and 13 months later it sold for $15.6 million. Also this month, spec developer Pascal Nicolai sold a beachfront residence in the Isles of Venice for $21 million, the most expensive sale on the islands this year. Elsewhere in Miami Beach, jeweler Paul Morelli sold and demolished his beachfront North Bay Road mansion for $22.9 million.
