From Our Archive
This story was published before Summer 2021, when we launched our new digital experience.

Life After Lebron

MOST READ
David Lynch Transcendental Meditation Interview

Self-Care

The Deep Dive

A light conversation with David Lynch on Transcendental Meditation, the unified...

Tonga Room, San Francisco.

Wine and Spirits

The Sweet Escape

On the enduring allure of the tiki bar.

The Hoodie of the Future

Fashion

The Hoodie of the Future

British clothier Vollebak makes garments for today’s superhero.

Surely the rebounding economy powered the median sale prices of condos in Miami Beach, which increased by 35.4 percent from 2010 to 2012. But what about the LeBron Effect? After all, he was there the same years.

Certainly, the allure of watching an NBA dynasty unfold from a balcony overlooking Biscayne Boulevard convinced a few high rollers to buy luxury condos. For instance, high-tech defense contractor Russell Wright plunked down $4.2 million on a penthouse in the Marquis Residences, one block from the Heat’s arena, the same day James decided to sign with the team. Moreover, downtown condo sales in July 2010 doubled from the previous month (The Decision, the ESPN special featuring LeBron’s announcement, aired July 8), recalls Fortune International Realty’s Edgardo Defortuna. Sales at the Marquis were up during the Heat’s first playoff run in 2011, says Wendy Marks Pine, an executive with Cervera Realty. But Defortuna insists the market won’t cool now that James bolted back to Ohio. “Miami is the world’s next major metropolitan city,” he says. “And not just because of LeBron.”

Newsletter

Let’s Keep in Touch

Subscribe to our newsletter

You’re no longer on our newsletter list, but you can resubscribe anytime.

Come On In

U.S. issued American Express Platinum Card® and Centurion® Members, enter the first six digits of your card number to access your complimentary subscription.

Learn about membership.