• Sosa purchased the property in 2013 for $7.6 million.
  • The Ocean Boulevard property was purchased privately by a Detroit-based investment group.
  • The buyer has plans for minor renovations to the property.

Sammy Sosa may have enjoyed a career of knocking it out of the park, but an investment group based in Detroit may have stolen home base. The group privately purchased Sosa’s beachfront home for $9.15 million, approximately $750,000 below the asking price of $9.9 million.

[Tweet “Sammy Sosa sold his #Miami home for $9.15M off-market in March.”]

Stuart Drossner, founder of Drossner Realty, confirmed the off-market sale of the retired baseball player’s 7,273-square-foot home at 667 Ocean Boulevard on March 31.

Sammy Sosa's just-sold Miami pad.

Sammy Sosa’s just-sold Miami pad.

Drossner said the seller was looking for a quick sale. The deal closed within 45 days of going under contract for $9.15 million.

He compared the purchase price to the market value, noting that it sold for roughly 30 percent less.

An oceanside view of Sammy Sosa's just-sold pad.

An oceanside view of Sammy Sosa’s just-sold pad.

Sosa purchased the home in 2013 for $7.6 million.

The seven-bedroom, 8.5-bathroom 1998-constructed home sits on a 24,900-square-foot piece of land and offers 75 feet of beach property.

His client has plans to do minor renovations to the property, said Drossner, who cited the 1998 property as being prime for renovation, which will only increase present and future value.

Author’s note: Selling the home for $9.15 million means that Sosa profited approximately $1,415 per day on his three-year investment. Over his 18-year professional baseball career, he averaged $18,884 per day based on his total baseball salary of $124,068,000 divided by 6,570 — 18 years — days under contract, so this is peanuts to ol’ Slammin’ Sammy.

Comparable Golden Beach oceanfront sales

263 Ocean Blvd.
75 feet Oceanfront
Sold for $11,000,000
Closed in June 2015
8,718 square feet
Renovated in 1980 from 1923 build — land value sale

469 Ocean Blvd.
50 feet Oceanfront
Sold for $10,500,000
Closed in 2015
6,885 square feet

219 Ocean Blvd.
100 feet Oceanfront
Sold for $12,000,000
Closed in October 2014
7,272 square feet
Land Value sale

317 Ocean Blvd.
150 feet Oceanfront
Sold for $22,500,000
Closed in late 2014
11,722 square feet

Email Britt Chester

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×