I had someone ask about Kevin Martin’s condo the other day, so I wanted to give the scoop on L Street in Midtown for any who might be wondering. Former Sacramento Kings Guard, Kevin Martin, purchased a penthouse condo in the L Street Lofts on 09/25/2008 for $1,340,000. The property was re-listed on the market at $995,000 in December 2010 and sold all cash on 04/19/2011 for $775,000. Here is a visual tour of the loft in photos. I bet this tour will only be live for a matter of weeks, so sneak a look if you can. Frankly I’m surprised the tour is still up since the property closed a few months back. This post by Bleed Black & Purple goes into a bit more detail about the transaction. By the way, there is a bank-owned corner penthouse loft for sale right now at $750,000 (originally sold on 06/27/2008 for $1,185,000).
The Price of Fame: Would you pay more for a property because someone famous lived there? Would you feel like you had “bragging rights” to say an NBA player previously owned your property? Or what about buying Ronald Reagan’s house in the “Fabulous 40s” where he lived while he was Governor? There is obviously a difference between a former president and NBA star, but the scenario is still thought-provoking. On the other side, would you pay less in other cases, maybe serial killer Dorothea Puente (sold last year)? What role have you seen former ownership play in real estate?