Still No Sale for Michael Jordan's Highland Park Mansion
Didn't happen. After the December auction fizzled out, team Jordan is back at the strategy board. Is a fickle market at work?
There was great anticipation for this auction. How much would this exotic, custom house from one of the world's greatest sports legends, just how big a price tag are we talking? Once again, a failed sale keeps the basketball legend's home on the block. Score: 0-3.
In 2012, Michael Jordan's 56,000-square-foot Highland Park manse had a nose-bleed ask price of $29 million. No bites. After a team huddle, a price slash is presented as the play to make. How about $21 million? Nope. Try again.
That's when Concierge Auctions was drafted onto the starting lineup. The luxury auction house pushed the celebrity glam angle in marketing and exposure, a Full Monty campaign. But from all that Ritz, the reserve wasn't met at the Dec. 16 auction on the 9-bedroom, 15-bath home, according a statement from Jordan's rep.
“We are disappointed that the high bid in today’s auction of Michael Jordan’s residence in Highland Park did not meet the reserve price," said Estee Portnoy, spokeswoman for Michael Jordan. "Concierge Auctions gave great exposure to the property and opportunity, but the market conditions were just not right to drive a fair value."
What's the next play for the 2700 Point Lane property? "We will be evaluating options for the property in the new year," said Portnoy.
In the meantime, you can still take a look at the gorgeous lay of the land of the Jordan Estate.