Three years after selling the Houston Rockets for $2.2 billion, billionaire Leslie Alexander has wrapped up another sale in La Jolla, shedding his massive beach house for $16 million.
The deal caps a nearly decade-long effort from Alexander, who originally asked $17.75 million for the waterfront home back in 2012 before lowering and raising the price multiple times in recent years. It’s still a big profit for the 77-year-old; records show he paid $1.7 million for the property back in 1988.
One of 22 homes on the coveted stretch of coast known as La Jolla Shores Beach, the contemporary three-story expands to 50 feet of waterfront and overlooks the ocean from multiple decks and patios.
Walls of glass line nearly every living space, bringing ocean views into the dining room, chef’s kitchen and sky-lit great room. Another highlight comes in the game room with its two fireplaces, a wine cooler and wet bar.
The primary suite spans an entire floor, boasting a private deck, spa bathroom and a chute that runs from the closet to the laundry room. It’s one of four bedrooms and 5.5 bathrooms in 9,320 square feet.
Alexander bought the Rockets for $85 million in 1993, and the team won back-to-back NBA championships during the next two seasons led by star center Hakeem Olajuwon. In 2017, he sold the franchise to fellow billionaire Tilman Fertitta for $2.2 billion.
Greg Noonan and Maxine Gellens of Berkshire Hathaway HomeServices California Properties held the listing. Jana Greene of Pacific Sotheby’s International Realty represented the buyer.