Wednesday, October 3, 2012

Jennifer Lopez’s Former Miami Home for Sale

Jennifer Lopez hasn’t lived in this enormous Miami Beach estate in seven years, but that doesn’t mean the home is any less fabulous.
J.Lo sold the home at 5800 N Bay Rd, Miami Beach FL 33140 in 2005 to health care entrepreneur Mark Gainor and his wife, Elyse Gainor, for $13.9 million. The Gainors took it upon themselves to completely renovate the Miami Beach residence.
Looking at the property history, it appears this isn’t the first time J.Lo’s former home has been on the market. In 2010, the home was listed for $29 million, (perhaps prior renovation) and then briefly listed for a whopping $42.5 million in 2011. In early 2012, the price was slashed to $34.5 million before it was re-upped to its current price tag of $40 million.
The home certainly matches its hefty price tag. Measuring over 12,000 square feet, the home has 7 bedrooms and 9.5 baths on a 1.21-acre lot bordering the bay. In addition to waterfront and skyline views, the grounds feature koi ponds, gardens and a large pool.
Inside, the home opens up with a two-story rotunda foyer, leading to living spaces with vaulted, beamed ceilings and hardwood floors.
Of course, the home also includes the usual celebrity amenities: wine cellar, home theater, enormous master suite with private terrace and a gourmet kitchen.
 
According to Zillow’s mortgage calculator, a monthly payment on the J.Lo’s former house would be $141,825, assuming a 20 percent down payment on a 30-year mortgage.
 

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