Real Estate Industry News

Former baseball star Alex Rodriguez and his wife, singer Jennifer Lopez, have caught a winning offer in Malibu, selling their oceanfront home for $6.775 million, according to real estate sources not authorized to comment on the deal.

The A-list couple had begun a renovation of the home before putting it up for sale in July for $7.99 million. They bought the place last year from actor Jeremy Piven for $6.6 million, The Times previously reported.

Set along the sand between Corral and Puerco Beach, the three-story house is well-suited for beach living with wraparound decking and two upper balconies overlooking the ocean. Some 4,400 square feet of interior includes five bedrooms and 4.5 bathrooms.

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Lopez, 51, has enjoyed an iconic career as a musician and actress, selling roughly 80 million records worldwide and appearing in 34 films, including “Selena,” for which she was nominated for a Golden Globe.

Rodriguez, 45, notched 696 home runs and 3,115 hits across 22 seasons with the Mariners, Rangers and Yankees. In addition to 14 All-Star Game appearances, the slugging infielder won the American League MVP award three times (2003, 2005, 2007). More recently, he has worked as a baseball analyst for Fox Sports and ESPN.

The couple was recently part of a group of investors that put in a bid to purchase the New York Mets franchise. The team was sold this week to billionaire Steve Cohen for $2.475 billion.

Carl Gambino of Compass handled both ends of the deal, according to the Wall Street Journal.