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

Posted by Jose Lambiet , November 9, 2012 Print

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!

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.

– Who’s moving in? Who’s moving out? Click to register for the daily news alerts

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.”

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

Featured Miami Photos Videos Cocoplum, Coral Gables, Gossip Extra, Jose Lambiet, luxury rentals, Miami Heat, National Basketball Association, NBA, Ray Allen, real estate, Tahiti Beach Island

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hg, 6 months ago Reply

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…
joe van weisal, 6 months ago Reply

Are we still wondering why all of these guys go broke?
- pelle, 1 month ago Reply
  
  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?
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A 1911 SHOOTER, 6 months ago Reply

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.
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