Allen Iverson selling mansion at “frugal” price | The Frugalista

Allen Iverson selling mansion at “frugal” price

by frugalista on September 10, 2008

A_iverson Allen Iverson cut the price on his 14,000-square-foot mansion in Pennsylvania, according to this Wall Street Journal article. Iverson paid $5 million for the house in 2003, records show, and listed it for $6.3 million; he’s now asking $4 million.

Poor Iverson. All that house and he has to sell it for $1 million less than what he paid for it. He’s prone to home trouble. He bought a home in Atlanta and ended up suing the builder for alleged shoddy construction. At least he isn’t in the same position that ex-NBA buddy, Latrell Sprewel, was in a few months back. Foreclosure proceedings are no fun, I’m sure.

In case you want to buy it, here’s some info from The Luxist blog:

The six-bedroom home is on four acres that include a pool house, stream and waterfall. The chateau-style home on Chateau Lane has four levels including a great room with floor-to-ceiling Palladian windows. The master suite has his and hers marble bathrooms, a coffee bar, media area and a veranda overlooking the grounds. There are four additional en-suite bedrooms and a separate guest quarters with a bedroom, living room and kitchenette. The entertainment level has a 12-seat movie theater, billiard room, and a lounge with a custom wood carved bar accommodating 200+ wine bottles.

Do you think the athletes get suckered into paying too much for their homes? Do you think Iverson can afford the $1 million loss? Do you care? Is he overpaid?

Thanks PJD for the tip!

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