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Real Estate News and Advice |
September 5, 2008 |
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IRS Takes a Bite Out of Mike Tyson
by Blanche Evans
![]() It is the largest bureaucracy on the planet. It is a world of its own, with its own investigation, enforcement, and judicial system, and it is allowed to operate completely outside of the checks and balances loop of our fair-minded democratic government. It is the only sector of American jurisprudence in which the accused is guilty and must prove his/her own innocence. It is the IRS, and it has just lowered the boom on Mike Tyson. Tyson has been bitten with a $6.3 million lien on his 61-room Farmington, Conn. mansion. Only the week before, the fighter had signed a $33 million fight agreement with Showtime. But Tyson is still hoping the Nevada boxing regulators will lend his cause an ear. A September 19th hearing is scheduled to determine whether or not the carnivorous boxer's license to box will be reinstated. The mansion, recently profiled in Agent News, was purchased by Tyson for $3 million One year later, he grew tired of his 56,000 square-foot home and decided to sell it -- for $25 million. But the title fight with Evander Holyfield chewed up his credibility, and Tyson, fearful that he might not be allowed to continuing fighting, quickly reduced the price to $22,000,000. The home's astounding $19 million mark-up was justified by changes Tyson had made to the home, including: a 3,500 square-foot nightclub designed for 1,000 people, and a 1,500 square-foot exercise facility. Century 21 agent Curt Clemens Sr. is handling the sale of the home. Selling the home could prove the end to Tyson's IRS troubles, but he still has yet to have his license to bite, I mean, uh, license to fight reinstated. For those interested, the over-muscled home boasts 18 bedrooms; 24 full bathrooms and an additional 14 half-baths; an indoor racquetball court; seven kitchens; a theater; an elevator; a three-story foyer; a 3,400 square-foot pool house; and approximately 50 skylights. ![]() Meanwhile, Making Beautiful Music in Malibu... Barbra Nests with James Newlywed Barbra Streisand is well served by Fred Sands agent, Joe Babajian of the Beverly Hills office. He managed to keep the marketing of her Holmby Hills, California home a private affair. Co-listed at $7.5 million with Mindy Williamson, the gated two-acre estate includes five bedrooms, seven full bathrooms, a sun room, a swimming pool and ten-car motor court. The bride of actor James Brolin, Ms. Streisand is settling down in Malibu and is also offering her Central Park West apartment for sale. Offered at $10 million, the triplex has 5,000 square feet, eight bedrooms, seven and a half baths, a built-in hair salon, and magnificent views. Kenny G Moves In ![]() Kenny B. Gorelick, better known for obvious reasons as Kenny G, the Grammy-award-winning saxophonist has just become the proud owner of a $12.5 million home in Malibu. The Cape Cod-style home is situated on two acres and boasts a private beach access. June Scott Estates, a Coldwell Banker-Jon Douglas Company holding, brokered the estate. Published: September 16, 1998 Use of this article without permission is a violation of federal copyright laws.
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