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Area Expert ~ Gary Youngman ~ Call (561) 306-SOLD (7653)

By Gary Youngman | Agent in Boca Raton, FL

Jennifer Lopez's Old Miami Beach Home On The Market For $40M

Jennifer Lopez's Old Miami Beach Home On The Market For $40M (PHOTOS, VIDEO)

The Huffington Post  |  By Christiana Lilly 
Posted:  Updated: 08/27/2012 4:32 pm


Jennifer Lopez Miami Beach Home For Sale

A Miami Beach home once owned by singer-actress Jennifer Lopez is back on the market for $40 million, over 25 percent more than its original listing price.

Current owners Mark and Elyse Gainor originally put 5800 North Bay Road on the market in 2010 for $29 million but didn't sell, the Wall Street Journal reports.

It was one of Miami's 10 most expensive listings of 2011, but now the Gainors want $40 million. The price increase is because of rising property values in the area, Nelson Gonzalez of Esslinger-Wooten-Maxwell Realtors told WSJ.

The 12,153 square foot, two-story home was built in 1929 with seven bedrooms and 11 bathrooms. The Mediterranean-style manse has a three-car garage, a pool with a gorgeous view of Biscayne Bay, and a private dock. One stand-out feature is the arched picture windows in the dining room, combining old-school architecture with updated Miami flair.

The home also boasts 150-year-old reclaimed hardwood and a 6,000-gallon koi pond, according to Business Insider.

The Gainors purchased Lopez's home in 2005 for $13.9 million and put another $11 million into the home for renovations, according to the Wall Street Journal.

See more images of JLo's former home:

http://www.huffingtonpost.com/2012/08/27/jennifer-lopez-miami-beach-home-sale_n_1832964.html?utm_hp_ref=miami-real-estate 



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