First Charlotte Hornets owner George Shinn is selling a waterfront home in Jupiter, Florida, for $5.25 million.
Mr. Shinn, 76, who founded the pro basketball team that would later morph into the New Orleans Hornets, listed the five-bedroom home in the upscale South Florida development of Admirals Cove on Friday. A company tied to the businessman bought the modern Spanish-style home less than a year ago, property records show.
The house, built in 1992, has stately, wide-open interiors, including a foyer and great room with soaring, double-height ceilings. From the front door a winding staircase leads to a second-floor balcony overlooking the expansive entertaining space, images of the home show.
The master bedroom is located on the first level and has a private terrace and sun-filled master bath and dressing room overlooking the tropical grounds, according to the listing with Debra Manuel of NV Realty Group.
Interior amenities include a home theater and bar. Outside, the backyard encompasses a pool, one-bedroom guest house and private dock that can accommodate an 80-foot yacht.
A private company linked to the businessman bought the home in April for $4.15 million, property records show. An email sent to his foundation was not immediately returned.
Mr. Shinn, an entrepreneur who built a chain of for-profit schools in the South, founded the Charlotte Hornets as North Carolina’s first professional basketball franchise in 1988. He moved the team to New Orleans in 2002 and anointed them the New Orleans Hornets amid a political dispute over a new arena and a personal scandal.
The Charlotte Hornets are now largely owned by retired NBA star Michael Jordan.
The sports mogul’s real estate move comes on the heels of retired Yankees pitcher Jeff Nelson listing his own estate in the same luxury development for $14 million.
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