Michael Strahan is the man.
Not only is his post-NFL career at an all-time high after he snagged the co-hosting duties on “Live! With Kelly and Michael” when Regis Philbin retired, he also just sold his Bel Air home for a $3M profit in an off-market deal.
But here’s the kicker. He made the massive profit by doing NOTHING. You read that right – nothing!
According to a source close to the deal, Strahan found a buyer willing to pay $11M for the the home he bought for $7.9M in May 2012. The ink is drying on the contracts and sale is about to close, and according to sources, the home’s an outdated “teardown” that will need to be completely rebuilt, but because it’s on an acre of land in a killer Bel Air location, it was worth the higher price.
The Trulia Price Monitor shows that asking prices in Los Angeles are up 19.2%, and even higher in primo locations like Bel Air and Beverly Hills, so all Michael had to do was ride the market up and make some serious coin along the way.
While Strahan enjoys life in New York and pockets the $3M profit, the unknown buyer is picking up a 5 bedroom, 6.5 bath estate on an acre of land. Built in 1926, the “teardown” features Mediterranean influences throughout, with courtyard entry, glass walls, theater and bar. Additionally, the home includes a gym, sauna, detached guesthouse and swimming pool.
While it all sounds lovely, word is that the home’s new buyer will actually tear it down and put up a newer home on the prime piece of land.