Tuesday, June 14th, 2011 at 5:57 pm  |  31 responses

Carmelo Anthony Loses $5.8 Million On Denver Home

Ouch! There’s not many details, but word is that Knicks star Carmelo Anthony lost a lot of money on his Denver home. Luckily for Anthony, he can compensate with his $65 million contract . From The Denver Post: “Carmelo Anthony and LaLa Vazquez just sold their Littleton pad for $6.2 million, says Kentwood Real Estate broker John Fitzpatrick. It had been on the market for one year for $9.5 million. That’s about a 30-percent discount. But wait. It gets worse. Anthony paid $12 million for it in 2007. That’s a loss of $5.8 million.”

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  • http://Zogs.ca Zogs

    Man that’s change for him

  • http://dsjkfl.com Jukai

    Anyone know where he’s living now?

  • Drew

    Why does anyone need a $12 million dollar home to begin with. Even if you’re an NBA superstar and making money like that. That’s just a terrible investment decision.

  • http://www.kb24.com The Seed

    These NBA players are dumb, Buy a 1 to 2 million dollar home and just chill and live off the interest of all your money.

  • http://www.slamonline.com Nick Tha Quick

    ^^^ @ The Seed It’s not all that easy. If he sees Lebron, a peer, buy a $15M mansion, he feels the need to get something comparable if not better. Not that he has to but peer pressure and status demands that. Just like when you getting the #1 value meal at MCD and your buddy is getting the Angus 1/3 pounder. You feel the pressure to get the bigger sandwich when the #1 is just fine.

  • http://www.kb24.com The Seed

    ^^^^AGREE, but I rather get 5 things off the dollar menu at MCD and get more for my money.

  • Eric

    ^^^
    Why pay for a #1, when you can have a McChicken Mini Meal for $3?

    Latrell Sprewell is a perfect example of how not to invest. But let’s face facts, buying a $12million home in Colorado is an unwise decision.
    Purchasing a $12million home for $6million is a bit wiser…
    People will always want bigger and better. It’s making the right decision that’s most important. That’s why I always take a few weeks to decide before making any purchase.

  • That Dude

    ^^^ Are you guys serious? If my buddy is getting the Angus 1/3 pounder I don’t feel pressure to get a bigger sandwich. He can get what he wants, I get what I want. Im a grown ass man. Peer pressure is for boys knamean? I understand your point Nick, but these NBA players need to grow up and know how to handle their money. I got no sympathy for this.

  • http://twitter.com/BeezKneezy LA Huey

    I love the fact there’s more comments about what to order off the menu at McD’s than there are about the actual article. I’ll just go with medium fries and their new strawberry lemonade drink.

  • http://hibachi20.blogspot.com Moose

    @The Seed and Nick Tha Quick: That isn’t how I work. If my buddy gets the bigger sandwich for more money and I get the value meal, I’ll feel like he’s the chump and I got away with one. If I were an NBAer, I’d do the same with houses and sit back a validated man when news articles like this comes out. I wish players had more logic/used their brains instead of competing in everything.

  • http://dsjkfl.com Jukai

    Well…. Carmelo Anthony is making 65 million dollars over three years. Subtract twelve million from that, and it’s 53 million for three years. That itself is not terrible.
    Now, if he’s going to be constantly moving and losing money on investments, that’s bad, and this isn’t a good showing… but he didn’t spend like, 3/4ths of his paycheck on this sucker.

  • http://www.facebook.com/joe.l.brewer3 BlackPhantom

    If I’m an NBA superstar I probably still wouldn’t buy a house for that much money, but I’m more of a contemporary/regular person when it comes to living conditions. I don’t wanna be too flashy, i just want enough to be comfortable

  • BigYellow

    Guys, I know his contract says he is going to make 65M, but you failed to include state and federal income tax and his agent fees. So the kid may see 40M when it’s all said and done. Hell, that’s still a boatload of change!!!

  • Groves

    @nick the quick. who feels that kind of peer pressure ever, men do what the want for $#!+ sake. i’d take more pride in a $1million dollar home in a growth area than any mansion. these guys aren’t all dumb, just some

  • Hugh Jass

    It would have been funny if it was sold to Gallinari or Mozgov.

  • MikeC.

    Co-sign That Dude 100%. Oh, and this is Teddy-the-Bear, not MikeC. Sorry Mike.

  • rich

    that hurts a lot, it may be a drop in the well in his current contract but things happen and when he retires he wants to have enough money to live like a king the rest of his life. its gotta last from 34-35 until he dies and support his future generations and family. he can just go to a club though they will pay him 50 grand a night to just show up

  • JoeMaMa

    Large Fries, lots of condiments, a glass of water, and bring in an apple. That’s how to Scrooge a McDee’s meal. And I don’t care how much he made: he’s hurting from losing close to 6 million.

  • http://slamonline.com tealish

    Must be nice to have $5.8 million to lose!

  • http://slamonline.com SpaceJam

    1 dollar large drink 2 apple pies a large fry and maybe some nuggets. Cheap and good as hell. I don’t think even Bill Gates wants to lose 6 million dollars

  • LeBron de Con

    Are you kidding? $5M is real money for anyone. Melo has a limited number of years to make his money. The economy suxs and $5M will come in handy for him and wife in 10 years.

  • http://www.slamonline.com Nick Tha Quick

    All I’m saying is that if it didn’t break your bank to get the Angus 1/3 pounder as opposed the getting the regular #1 which is sufficient for your meal but not quite like the 1/3 which, when made just right with the large fries and the vanilla shake…is like Dirk in the 4th – pure money! Would you still be fine with the measly single with crappy tomatoes, a regular Mellow Yellow and small fries… sufficient to sate your hunger but not enough to fully satisfy you – kinda like a Lebron game in the finals.

  • http://slamonline.com The Fresh Prince of Nsam

    Best convo on Slamonline since sunday.
    Thanx guys 4 the free economy classes

  • papabearATL

    Some of these athletes are enrolled in the MC Hammer school of economics! Young, Fly and Flashy is fleeting, just like athletic ability and max contracts, lol! Just because you CAN buy it, doesn’t mean you SHOULD buy it. Get some toys, make some investments for the long term and show a little maturity and restraint. Not just for the money but, how many athletes and former athletes have we lost in the past 3yrs alone to violence because someone wanted what they had? Flashy attracts a lot of insects…

  • http://www.slamonline.com Max

    4 cheeseburgers and a big mac!

  • Riggs

    what in the hell are yall talking about? all homes are being sold at a loss right now across the country. The reason why his cost so much is because the amount that he paid for it in the first place. Also he had a lot of family living with him in denver and he needed the space.

  • EtheKnickfan

    makin 60+ mil the gubmint wont allow for you to live in the projects man. They will tax/take all that money. He should have kept the house and rented it to puffitypdiddysean diddydirtyjohn to make videos.

  • lp

    Yea, melo took a loss… He can’t lose 5 mil, it will hurt him later, like 10 years from now. That’s money that could have been invested and tripled, etc etc… He isn’t Mark Cuban.

  • permaculture james

    every nba player should get investing classes. You and I couldn’t afford to heat that Colorado house in the winter. FYI: 15-20 of the waste in this country is from construction. Bums me out how much flying (ie CO2 emissions) it takes to bring us the games we love to watch; let’s work on that teleportation thing.

  • http://www.walshsportsblog.com Darren

    George Karl moved in next door and walked around naked all the time. That brought down the price pretty quick. There’s nothing that man won’t do to hurt Carmelo.

  • bosss

    if carmelo making so much money then he shudnt be eating mickey d’s and lebron can eat there if he wants… yuh????

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