
It was fourth and long for Funari Realty this week and the real estate company may have given up a sack.
That because one of its high profile listings — the eight-bedroom, 20,000-square-foot mansion of former National Football League (NFL) superstar and current Fort Leavenworth prison inmate, Michael Vick, in suburban Atlanta, Ga. — hit the auction block yesterday to little fanfare.
In fact, just two curious buyers showed up but did not place the minimum bid of $3.2 million to become a new homeowner in the upscale Sugarloaf Country Club community, according to CNN.com.
Narender Reddy of Metro Brokers/GMAC Real Estate was one of those interested in the sale because a client of his offered the same amount as the minimum bid two months ago. Funari Realty, however, passed on the offer, according to the article, thinking more could be made in an auction format.
Now he intends to advise his client to offer less than the original $3.2 million after the luxurious Gwinnett County residence, which has been on the market for more than one year, attracted so little interest this week.
Vick lived in the home while he played quarterback for the Falcons. He was forced to vacate it and serve a 23-month sentence at the federal penitentiary under terms of his plea for running a major dogfighting operation in late 2007.
He has since struggled to repay creditors and filed for bankruptcy while incarcerated. The sale of the Atlanta home, which he more than likely no longer needs since he was released from the Falcons after his arrest, and other assets will be put toward paying off debts the 28-year-old athlete has amassed.
Vick is scheduled to be released in May to serve the final two months of his sentence under home confinement at another property he owns in in Hampton, Va. He has expressed an interest in returning to the gridiron; however, he will have to receive the stamp of approval from the league commissioner before that can happen.
We’ll pass along additional news on Vick’s home in Duluth as it becomes available.







Recent Comments