Kim Ng Sells Coconut Grove Home for $4.5 Million, Securing 40% Profit

Kim Ng, a former boss of the Miami Marlins baseball team, is in the news again, but this time it’s not about baseball. She and her husband, Tony Markward, who owns Silas Wines, just sold their house in Coconut Grove.

Their home, located at 3901 Kumquat Avenue, was sold for a big $4.5 million. Ng, who made history as the first woman and first Asian American general manager in Major League Baseball, has achieved a personal milestone with this sale.

This also shows how lively the real estate market is in Coconut Grove, a fancy part of Miami where lots of sports stars and rich people like to buy houses.

Strategic Market Moves

The big house, which is 3,400 square feet in size, sold for a lot more money than it was bought for in 2021. It sold for 40 percent more than its original price. This shows that Ng and Markward, the owners, made a smart move by renovating the house at the right time. They put in a new kitchen and updated the floors.

Kim Ng’s house is located at 3901 Kumquat Avenue, was sold for a big $4.5 million. (Credits: Redfin)

The house sits on a big piece of land, about a quarter-acre, and has four bedrooms and four and a half bathrooms. It’s a great example of the high-quality living spaces and beautiful architecture you find in Coconut Grove.

The sale of the house involved top real estate agents from Engel & Völkers and Berkshire Hathaway HomeServices EWM Realty. Their involvement shows how important and professionally Coconut Grove’s real estate business is handled.

A Favorite Spot for Sports Stars

Kim Ng’s decision to buy property is happening in Coconut Grove, a place famous for being home to many sports stars.

Former Miami Heat player LeBron James also owns a house in Miami

This area has become popular among famous athletes. NBA All-Star Kevin Love and former Miami Heat player LeBron James are among the big names who have bought fancy houses in this lively Miami neighborhood.

These purchases show how Coconut Grove attracts famous people. It’s part of a bigger trend where sports celebrities like to invest in top-notch properties. They want the privacy, luxury, and exclusivity that this area provides.

The Influence of Celebrity On Real Estate Prices

The sale of Ng’s house in Coconut Grove, along with Kevin Love and LeBron James buying properties there before, shows how famous people owning homes can change the value of real estate and how the market works.

Kim Ng Sells Coconut Grove Home for $4.5 Million
Coconut Grove is a place under the influence of celebrities ‘ real estate demand

These big-name deals make the area more attractive, which means more people want to buy there, and that could make property prices go up.

The fact that celebrities want to live in Coconut Grove, along with its nice scenery, different kinds of buildings, and being close to Miami’s important places, makes it even more appealing for rich people buying and selling fancy houses.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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