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Friday, September 16, 2022

Demolition planned for Derek Jeter’s former $22.5M Tampa mansion

Jeter sold the home for $22.5 million last year, earning it the title of Tampa Bay’s most expensive home, according to Smith & Associates, the realty firm that handled the sale. Coming in at 21,796 square feet, it is also one of the largest homes in Tampa.

The 7-bedroom, 16-bathroom waterfront property sits on 1.25 acres with 345 feet of open bay. The inside is decked out with a wine cellar, a movie theater, a gym, an in-law suite, an au-pair wing, an air-conditioned six-car garage, a scullery and a full-home generator. There’s also 9,000 square feet of covered porches and balconies, a dock with two boat lifts, a heated spa and an 80-foot saltwater lap pool.

Built in 2011, Jeter and his family lived in the home for some time before relocating to South Florida. The already iconic house solidified its status as a local landmark in 2020 when Tom Brady began renting it from Jeter and moved in with his family.

The current owner of the home appears to be a trust run by a local lawyer. The deed lists David L. Koche as well as “Zebb.com Trust.”

Zebb.com is a cryptocurrency app that allows people to invest Indian rupees into Bitcoin. On its website it mentions affiliations with Zebpay, a major cryptocurrency exchange headquartered in Singapore.

RoyalsRetro (AG#1F) Posted: September 16, 2022 at 10:25 AM | 28 comment(s) Login to Bookmark
  Tags: derek jeter

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   1. Starring Bradley Scotchman as RMc Posted: September 16, 2022 at 10:38 AM (#6096411)
Why tear it down? Do they want to clear the lot to, you know, build something nicer?
   2. VCar Posted: September 16, 2022 at 10:45 AM (#6096412)
they need to remove all the gift baskets b4hand
   3. Ron J Posted: September 16, 2022 at 10:46 AM (#6096413)
They plan to replace it with affordable housing.
   4. My name is Votto, and I love to get Moppo Posted: September 16, 2022 at 10:52 AM (#6096414)
Somebody will have to convince me of the benefits of crypto. It opens the door for extortion, eases black market transactions, and is horrible for the environment.
   5. Ron J Posted: September 16, 2022 at 11:06 AM (#6096417)
#4 It's mostly a religious thing. If you ain't got religion it won't make a ton of sense.

   6. Itchy Row Posted: September 16, 2022 at 11:08 AM (#6096419)
Zebb.com is a cryptocurrency app that allows people to invest Indian rupees into Bitcoin.
Oh, they're turning the land into bitcoin. I still have no idea how that works.
   7. Buck Coats Posted: September 16, 2022 at 11:19 AM (#6096423)
you had me at extortion
   8. snapper (history's 42nd greatest monster) Posted: September 16, 2022 at 12:06 PM (#6096426)
#4 It's mostly a religious thing. If you ain't got religion it won't make a ton of sense.

The fundamental problem is that they can't decide if it's a currency or an asset class. People buying it for appreciation are treating it as an asset, but that makes it a lousy currency. You don't want currency having massive fluctuations in value. It's scarcity is good as an asset, but awful as a currency.

It's the same issue they had with gold as a currency. Works great if the supply is pretty stable and keeps up with growth and demand. But when the growth of the economy exceeded the growth in supply, you got deflation and depression. If a bunch of new discoveries outpaced demand, you got inflation.

Crypto could work as a currency, if they constantly expanded the supply to meet demand, and keep the price stable. But, those investing as an asset clearly don't want that.
   9. Cris E Posted: September 16, 2022 at 03:54 PM (#6096484)
1. I bet that au pair wing is both bigger and nicer than my house.

2. My only view on the world of klepto^H^H^H^H^Hcrypto is a (bad) news aggregator tracking scams, rug-pulls and other shady aspect of the industry: web3isgoinggreat.com
   10. winnipegwhip Posted: September 16, 2022 at 04:16 PM (#6096495)
That's a lot of memorabilia to break up and put in topps cards.
   11. ReggieThomasLives Posted: September 16, 2022 at 05:26 PM (#6096512)
They plan to replace it with affordable housing.


And a dock on the bay frontage to make it easier for DeSantis to ship the residents directly to Martha's Vineyard.
   12. Infinite Yost (Voxter) Posted: September 16, 2022 at 05:41 PM (#6096519)
Somebody will have to convince me of the benefits of crypto. It opens the door for extortion, eases black market transactions, and is horrible for the environment.


Remember like 20 years ago when Bill James said the idea of momentum in sports is a bullshit dump, where people place their nonspecific, unprovable, and probably wrong ideas? I'm pretty sure crypto, at least as it currently exists, is a bullshit dump.
   13. Never Give an Inge (Dave) Posted: September 16, 2022 at 07:51 PM (#6096528)

So no word on why they're demolishing it? It's kind of ugly but I can't imagine that demolishing it and building a new house on the same property is going to be more cost effective than just selling the existing one.
   14. Ron J Posted: September 16, 2022 at 08:05 PM (#6096531)
#13 Just guess that they'd want to parcel it up. One of the largest can probably be more profitable as a couple of smaller properties.
   15. Misirlou cut his hair and moved to Rome Posted: September 16, 2022 at 09:27 PM (#6096545)
I recently moved from an area where multi million dollar homes were being bought and demolished so that newer, bigger homes could be built on the property. but this is not that. This isn't some 1960's shack on a 22 million dollar lot. The existing house is only 11 years old and is about as big as one could build on the lot. A great deal of the $22 million value is in the structure. I can't believe it is economically prudent to buy this and tear it down and re-build rather than find some other property to do so. I don't understand this at all.
   16. Pat Rapper's Delight (as quoted on MLB Network) Posted: September 16, 2022 at 09:45 PM (#6096547)
I can't believe it is economically prudent to buy this and tear it down and re-build rather than find some other property to do so. I don't understand this at all.

All I know is as long as it's Crypto Bro money backing it, I can rest easy with the knowledge that the resulting structure will be cultured, refined, elegant, and understated yet timelessly classy.
   17. DFA Posted: September 16, 2022 at 10:06 PM (#6096557)
7 bedrooms and 16 bathrooms, is that weird? I mean I get the bedrooms, but why so many bathrooms?
   18. snapper (history's 42nd greatest monster) Posted: September 16, 2022 at 10:58 PM (#6096570)
7 bedrooms and 16 bathrooms, is that weird? I mean I get the bedrooms, but why so many bathrooms?

Because the architects and contractors swindled him. There's nothing in the past 30 that would suggest Jeter is bright.
   19. What did Billy Ripken have against ElRoy Face? Posted: September 17, 2022 at 10:23 AM (#6096609)
I can't believe it is economically prudent to buy this
Welcome to crypto.
   20. McCoy Posted: September 17, 2022 at 11:23 AM (#6096612)
Because it's a giant house with tons of rooms.

There's probably a bathroom off the dining room, game room, TV room, gym, probably one or two next to the covered decks, by the pool, next to the bar and so on.
   21. sunday silence (again) Posted: September 17, 2022 at 11:28 AM (#6096613)

Crypto could work as a currency, if they constantly expanded the supply to meet demand, and keep the price stable.


El Salvador says "hello"
   22. The Yankee Clapper Posted: September 17, 2022 at 05:25 PM (#6096649)
I can't believe it is economically prudent to buy this and tear it down and re-build rather than find some other property to do so. I don't understand this at all.
Very rich hardcore Jeter-hater getting his jollies?
   23. Howie Menckel Posted: September 17, 2022 at 10:03 PM (#6096701)
this is smaller than the ex-NBA player's "crib" I have visited, and I doubt the overall acreage is as much, either (more than 60 acres for this player).

a full-length (about 160 yards) par-3 golf hole complete with ball washer at the tee, a go-kart track, skeet shooting, a petting zoo - and that's just outside.

15-seat movie theater with, well, the finest Corinthian leather. a huge swimming pool modeled after the players' favorite visiting hotel pool. 94-foot basketball court, naturally. massive dining room table sat 16 or so (no "add-on sleeves" for holidays needed here, lol). double spiral staircase. "Evita" balcony to hold sway over the peasants - or guests - below. 41 rooms or so.

this is two decades ago, but the player - who has expertise in construction - built it with his father and pals for about $2 million and sold it not many years later for $8 million, iirc.

that said, I don't get it.
   24. mike f Posted: September 19, 2022 at 03:50 PM (#6096912)
The only plausible theory I've seen is that the flood insurance is sky rocketing and they're going to build 2 or 3 houses on the lot that are up to current code. It still doesn't make sense why someone would pay $22 million to do that. They probably assumed the Florida coast prices would keep going up.
   25. Cris E Posted: September 19, 2022 at 04:32 PM (#6096917)
10. Neighbor wants to make his place 1.2 acres larger.
9. Incredibly wealthy but deeply unhealthy Red Sox fans can finally get revenge on Jeter.
8. They are convinced there's buried treasure on the lot.
7. Collect underpants
6. ?
5. Profit
4. "Honey, have you seen the Visa bill? Were you drinking and bidding on things online again?"
3. Global warming is a hoax to drive down waterfront prices, but this guy can see the truth!
2. Didn't have enough bathrooms.
1. Duh - it's crypto bros doing stupid with other people's money.
   26. Misirlou cut his hair and moved to Rome Posted: September 19, 2022 at 04:40 PM (#6096919)
The only plausible theory I've seen is that the flood insurance is sky rocketing and they're going to build 2 or 3 houses on the lot that are up to current code. It still doesn't make sense why someone would pay $22 million to do that. They probably assumed the Florida coast prices would keep going up.


These people don't pay flood insurance.
   27. The Yankee Clapper Posted: September 19, 2022 at 07:28 PM (#6096943)
Because the architects and contractors swindled him. There's nothing in the past 30 that would suggest Jeter is bright.
As noted above, you need bathrooms near the gym, movie theater, bar, and outside areas. Reportedly, Jeter made $7M on the sale, so he didn’t do that badly.

That article indicates the permit process for demolition hasn’t been completed, so there may still be time to designate it a historic landmark.
   28. Ben V-L Posted: September 19, 2022 at 08:44 PM (#6096967)
These people don't pay flood insurance.


What they need is crypto insurance.

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