Miami Heat’s Tyler Johnson sells Miami mansion at a loss

November 27, 2018

Chalk up another assist for the Miami Heat’s Tyler Johnson. The five-year guard out of Fresno State has sold his mansion outside Miami for $4.35 million.

The sale comes at a loss for Johnson. Records show he bought the home two years ago for $4.82 million a few months after inking a four-year deal with the Heat worth $50 million.

Spanning an acre in Pinecrest, the two-story house opens through an arched front door to 9,476 square feet of living space. Custom coffered ceilings — each different in style — hang over the living room, center-island kitchen, formal dining room, breakfast nook and movie theater.

Wood finishes make appearances as well, touching up a wall in the family room, a wet bar in the billiards room and the ceilings over the master suite. In all, there are six bedrooms and nine bathrooms. An elevator services both floors.

Outside, a spacious loggia with a kitchen extends to a swimming pool, spa and pool house. The grounds also hold a basketball court, a built-in trampoline and a four-car garage.

Kimberly Knausz of One Sotheby’s International Realty holds the listing.

A native of North Dakota, Johnson joined the Miami Heat as an undrafted free agent in 2014. Through 16 games this season, he’s averaging 11.4 points and 3.3 rebounds.

Don’t feel sorry for this guy. He had a $50 million dollar contract. He could give the house away and still be a multimillionaire for the rest of his life. I think I should’ve went into sports. Although I just found playing football in high school a bit awkward. Maybe it was the high heels and mini skirts I wore to practice every week. Who knows? They kicked me off the team! All I wanted to do was sit on the bench, chew gum, and talk about the Kardashians. So the bottom line is: No $50 million dollar contract for me. Although I was once paid $200 to pose in the nude. But that’s another story. And right now, there may be children reading this.

Don’t read into this article and think it has anything to do with the real estate market in general, because it does not. People with these huge salaries (million of dollars per year) make financial decisions based on their immediate needs. This guy has no need to hold out and sell his house for a big profit. People like this sell because they’ve got somewhere else to go quickly. They don’t have the time to let the market come to them. They make their own market. And they sell at whatever price they please. Remember, they usually owe big tax bills by the end of the year. Their income is mostly all taxable. Therefore, if they sold their house at a loss, it could be used to offset earned income, therefore lowering their tax bracket. There are a lot of tricks for rich people. Especially smart rich people with good accounts. People like me and you, we need to make money on our properties. I know I’m not selling anything at a loss. I need the income to live. And I’m sure you do too. Very wealthy athletes often go through houses like they go through cars. Although, the norm is most athletes and celebrities still make good profits on their homes if they don’t need to sell quickly. And now you have the rest of the story.

About The Author

Robert Annenberg: Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.