“Prime Property of the Week” – Allen Iverson Loses $4.5MM Atlanta Mansion in Foreclosure
This week’s “Prime Property of the Week” has been making waves in the luxury real estate sector recently, but for all the wrong reasons. The impressive Atlanta estate located in the gated West Paces Ferry Road community belonged to retired NBA superstar earlier this week. Unfortunately for Iverson, the bank foreclosed on the $2.8 million dollar home this past week due to the fact that Iverson defaulted on the $1.2 mortgage that he had on the home. The house has been listed for sale for $2.8 million dollars for some time to no avail. The house ended up getting purchased back by the bank for $2.5 million this week.
Iverson originally built the breathtaking estate back in 2009 for $4.5 million dollars. The nearly 8,000 square foot stone faced home has 6 bedrooms, 9 bathrooms and is built in the French Chateau architectural style. The interior is equally as impressive with 10+ foot ceilings, a gourmet kitchen, wide plank hardwood floors, a master suite that is to die for, and exquisite detail work throughout. In terms of exceptional rooms, the mansion has a billiards room, complete with a bar and media room attached, along with a solid wood paneled study/library. Also, the exterior of the home has no shortage of amenities, including a pool, poolhouse, and an outdoor patio with a fireplace and grill.
Allen Iverson has not had good luck in the real estate sector lately, as he was also in danger of losing his Colorado home to foreclosure back in March 2012. Luckily, a buyer flew in and scooped up the house at the 11th hour.
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