Franklin D. Roosevelt once said that real estate’s beauty is that it cannot be stolen, lost or carried away. However, if you pay for it in full and properly manage it, it is the safest investment you can ever have. Such words are further emphasized by multi-billionaire John Paulson who advises that if you don’t own a home, you should buy one and once you do, begin accumulating more. He added that if possible, you should lend your relatives some money to buy their own homes too. Of course, houses do not come cheap, yet one actor, Kevin James, just bought a $14 million Delray mansion. Here’s a detailed tour around the property.
It Was Listed for $15.95 Million
James showed us that he could get his way out of a tight situation in the “Paul Blart: Mall Cop” films, and it seems even in real life, the comedian knows how to handle business. According to The New York Post, the luxurious beach house he has recently acquired had an asking price of $15.95 million, but James purchased it for $14 million. Unfortunately, further details regarding the transaction have not come up yet since the representatives of both the seller and the buyer, Nicholas Malinosky and Jake Elkins, respectively, declined to comment. However, we know that it has doubled the price since 2017 when the U.S Construction and the NRIA (National Realty Investment Advisors) bought it for $7million. The hike in price could be due to the recent upgrades that include partial rebuilding in 2020 by Randall Stofft Architects, furnishings and interior design.
Up-close Look of the Home
Dirt discloses that the six-bedroom, seven-and-a-half bathroom mansion sits on nearly two-thirds of an acre. The expansive house measures 11,500 square feet and is on 344 North Ocean Boulevard, directly opposite a busy beach road. You should note that some sources cite the residence to sprawl across 18,906 square feet. Regardless of the dispute in square footage, there is a consensus on the amenities you will find in the main house and guest house. The main house is three stories tall and on the ground level is the living room. The glass sliders lead to the ocean-view covered patio with ample seating. There is a good use of space by combining the living room and dining room while the large floor-to-ceiling windows allow natural light to pour in and light up the entire living area. The lounge’s main attraction is the fireplace that breaks the pristine and white interiors theme with is grey stones.
The white theme is reflected by the polished marble floors, white ceilings and white walls. The clean look is facilitated by the two large islands covered in white marble countertops and white cabinetry in the kitchen. On one side of one of the islands is a breakfast area with four seats. The kitchen also has a few potted plants to welcome a touch of nature in the home. According to Architectural Digest, the master bedroom is on the top floor and is fit for the “King of Queens.” It has a fireplace, sitting area and private balcony accessed by two large French doors where the lovebirds can take in the breathtaking view of the ocean. The bedroom would be incomplete without a bath that adopts the pristine and luxurious look. It has white marble countertops, a steam shower enclosed in glass to avoid wet floors, and a deep-soaking tub to relax in after a long day. Other facilities that come with the property are a recreational room with a large orange pool table. James’s friends can play while enjoying a drink or two since the recreational room also comes with a minibar. When hosting parties, the wine-cellar will come in handy, and so will the built-in grill on the patio. The home does not run out of relaxing space with the numerous lounging areas, terraces and even a swimming pool in the backyard for anyone who feels that swimming is the ideal form of exercise.
He Had Another Delray Mansion
James has a soft spot for the beach; most specifically houses on North Ocean Boulevard, because in 2012, he wrote a check for $18.5 million for a Delray beach house. According to Palm Beach Post, the house sat on nearly 1.8 acres. The 25,834-square-foot property was located at 502 North Ocean Boulevard and had more amenities, including eight full baths, four half-baths, 10 bedrooms, a 10-car garage and seven fireplaces. As with the current deal, details were not disclosed; even the buyer’s name was not revealed, although it later came to be known the actor had used his official names to buy it. Although the appraisal value was $10.7 million and $250,513 was the annual tax bill, the asking price was millions more. However, it is not unusual for a discrepancy between that appraisal value and the market value, though. The actor only owned the property for four years before selling it in 2016 for $26.38 million. He had listed it for $28.85 million, hoping to make a $10-milion profit, but it attracted buyers thus went off the market within six months. It is no wonder that James did not mind lowering the price instead of holding on to it for years as other celebrities do.
He Once Sold a House for More than the Listing Price
It appears that James likes to keep a low profile when doing his real estate dealings. According to Inquisitr, the real estate listing agent said due to legal disclosure forms, he could not confirm who had been living in a house also suspected to have been put on the market by James. All the same, it took a little while before it was confirmed that James sold the Encino mansion in April 2013. He had bought it in 2003 for $3.2 million, and just like the Delray mansion that only took six months, the Encino mansion took only 36 days to land a buyer. He sold it for $55,000 more than he had put it up for, bringing the sale price to $5,495,000.