Miami Heat: Ray Allen’s Sweet $50K/Month Rental!

Ray Allen's rental

New Heat star Ray Allen plunks down $50,000-a-month for this 9-bedroom rental in Coral Gables (Click on the photo for the grand tour)

New Miami Heat sharpshooter Ray Allen is a man of fine taste when it comes to living arrangements!

Miami Heat star Ray Allen

Ray Allen

The 37-year-old ex-Boston Celtics guard, who signed with the World Champions in the summer, is living in a $50,000-a-month rental in one of South Florida’s most exclusive island enclaves, Gossip Extra has learned.

Click for the tour of Allen’s place, and the homes of celebrities throughout South Florida

The nine-bedroom, 10-bathroom Mediterranean mansion opens up on a private beach fronted by a private bay in the gated Coral Gables neighborhood of Tahiti Beach.

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Other features include formal dining and living rooms, sitting room and a custom library; marble and wood flooring; an elevator; a master suite with double door entry with a  private sitting room and terrace, exercise room, sauna and spa bath.

“It’s as exclusive, secluded and luxurious it gets in South Florida,” said realtor Philippe Diener, who works the Coral Gables area.

Check out the video tour below:

Despite Allen’s presence with his wife and their five children, the house (at 5 Tahiti Beach Island Road) is for sale. It’s on the market for a whopping $13.9 million! The owner is healthcare investor Miguel Fernandez, CEO of MBF Healthcare Partners.

So, why would Allen rent, instead of buying a little something?

“People who rent in the luxury market don’t have any intention of staying for a long time,” said Diener. “It’s hassle-free.”

Ray Allen's house in Coral Gables

Siesta anyone? Ray Allen’s backyard in Coral Gables (Click on the photo for more)

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Comments

  1. hg says

    that’s why these guys go broke five years after they retire. He’s making 3 mill this year and spending 700k on RENT?! He could have BOUGHT a luxurious condo or bought a , let’s say 6 bedroom house. Instead he’s blowing 7ook on renting a nine bedroom crib…does he have a financial advisor? Im not in a finance but I think i could help…

    • says

      He has been in the league a loooooooonngg time. Yeah 3 mil this year, what about all his other years when he was making top dollar. All the endorsements, etc. Do you reallllly thing 700K to rent is a huge deal for me. What about his other house he owns. I would do the same thing, if I had that money. Celebs have so much money they don’t even know what to do with, we all know that. I wish I could afford it.

    • pelle says

      they don’t all go broke (the ones who marry or date women other than black women. I am married to a white man but we’ve been together since I was 18 and he was 25. I was not a a groupie looking for a meal tickect for me and and the rest of the family in the trailer park. It is not a coincidence. It is a trend. Michael Jordan made most of his money and retained it while married to Juanita. Wade is worth $65 mil (black women). When his house in Miami was listed about four years ago; it was listed for the appreciated value of 2mil. LB James is worth 110mil (black women), etc, etc. They also take care of many family members. So now, because a couple of people were misguided and went for the chicken heads who were only after their money; It’s most of them who go broke? Do some research. “Most” of the ones who went broke were with white chicks (money hungry chicken heads). Oops, Look who Ray Allen married. It must be a coincidence. I can see her saying: this is the house. this is the one. Honey. I want it. Now, the dum-arsses are running lose, blaming him. Any baller married or dating a “made over” trailer trash whore will most likely end up in bankruptcy court. Hey Scotty, Dennis, Terrell, etc. Are you listening?

      • Anthony says

        Pelle,

        Wow! You are just plain ignorant. While I think it is foolish for him to spend that kind of money on a rental when he could just buy a pretty nice place for $750K/1million and keep it as a second — especially since he had a 2 year contract with an option 3rd year.

        Whether or not he goes broke depends on how intelligent he is about investing. We also do not know if it’s a short-term rental. The guy is worth $100 million and makes a little over $3 million a year (btw he opted out of his 2 yr/ $12 million to take less money so he could win another title or 2). Dropping $200K for a 4 month rental is not a big deal until he decides to buy a place if you are worth 9 figures.

        Additionally, I can give you a VERY long list of athletes who shacked up black women are now broke. Gold diggers come in all shades. By the way, his wife is not white, she is mixed race black. Her father is white and her mother is Black (specifically, she’s African from Cape Verde)…but that should not matter. They have also known each other since he was at UConn and she was at Northeastern.

  2. A 1911 SHOOTER says

    It’s not that bad really. Generally speaking your debt service on your Mort/rent/lease should be around 25% of your net income. His is above that figure by around +/- 6% , he also has some sponsor deals I am sure that supplement his income.