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Shaq Gains New Team Drops Old Mansion, by Sara Lin

After four years on the market, Shaquille O’Neal finally sold his Miami Beach mansion. The NBA star was traded to Cleveland today, and word is out that his home closed this week for $16 million after first listing it for $32 million. It’s a humbling sale: Shaq bought the nearly 20,000-square-foot home on Star Island, in Biscayne Bay, for $18.8 million in 2004.

For Shaq, unloading the house has been a serious saga. Apparently New York Yankee Alex "A-Rod" Rodriguez had signed a contract to buy the place in 2007, but then changed his mind. He’s shaved the price several times ever since.

The Mediterranean-style home on 2.5 acres has seven bedrooms, eight bathrooms, an indoor basketball court, gym, a pool and sauna. The property also has a two-bedroom guest house, a tennis court, a dock and a six-car garage. The home, built in 1992 by Miami Heat center Rony Seikaly, was last listed for $22.5 million.

Coldwell Banker brokerage team Jill Eber and Jill Hertzberg, who originally sold the home to Shaq, had the listing.

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