Alex Rodriguez is on Top of His Real Estate Game, And Even Warren Buffett is Impressed!
In the world of professional sports, retirements usually come unprecedented. There are a lot of notable figures that fans feel can bring so much more to the table, while some feel that their idols are still on a roll that a sudden stop to their careers, no matter how on a high note it may be, is too early to happen.
However, most players just know when it is the right time to bid adieu to the industry that made them famous – but that doesn’t mean they vanish from the spotlight.
Real Estate A-Game
Alex Rodriguez, for one, is known for his impressive performance when he was still playing. The invaluable athlete of the New York Yankees retired in 2016 at just 41 with a record 696 home runs throughout his more than two decades of career that included over 12,000 games. In 2007, he struck a $275-million 10-year-deal with the team, beating his previous mark of $252 million with Texas in 2000.
Although it seemed to be a very lucrative job for Alex, who is more known as A-Rod, he continued to excel in the paths he chose to dip his toes into outside the world of sports.
Interestingly, the 43-year-old has made wise decisions and has maintained his status as a celebrity. He became a broadcaster on ESPN and Fox Sports 1 and made appearances, maybe the most notable was his Shark Tank guest stint.
Because of this, A-Rod has teamed up with Barbara Corcoran, a Shark Tank judge, to buy a 21-unit building in the East Village for $8.3 million, which, according to the latter, was just the start of their partnership to purchase even more properties in the city.
Meanwhile, the athlete’s A-Rod Corp. has collaborated with Stonehenge NYC operator Ofer Yardeni and Modlin Group brokerage specialist Adam Modlin for a still unnamed venture that will see them buying out bulk condo units and apartment buildings of different sizes in New York.
Of this, it does leave Barbara’s partnership hanging. Will there still be a team-up? The 70-year-old investor hopes so because she said that A-Rod is such a great partner. In a statement, the former MLB star explained that he always wanted to go bigger in his real estate endeavor, dreaming that he could own New York rental apartments.
While there are a lot of opportunities in the past years, he was reluctant to grab these and waited until he could tap a local partner with an impressive track record.
Despite hesitating to make a bold move in the Big Apple, don’t underestimate the 14-time All-Star. He certainly knows his way around real estate, especially because his Monument Capital Management has 15,000 apartments in more than 10 states.
Why Real Estate
From baseball to real estate, it is quite a big jump. What fueled A-Rod to invest in properties? Apparently, things weren’t always the same when he was young. Growing up poor, he learned from early on that it was hard to always move just because the landlord raised the rent. Being raised by a single mom, life used to be hard for them.
But after being drafted at 17, real estate piqued his interest. By 22, he already owned his first duplex. That was just the beginning as A-Rod went on to put up his eponymous corporation. He also earned praises from none other than Berkshire Hathaway CEO Warren Buffett himself.
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