There was an interesting real estate article in the Sports section of the Journal News – yes the Sports section – regarding what would happen to real estate and local businesses if LeBron James were to sign with the Knicks and buy a home in Westchester County. The home the Journal News picked for Lebron was a Houlihan Lawrence listing, Rosewood in Chappaqua, NY.
Houlihan Lawrence COO Chris Meyers was quoted, saying that many players in the late 90s and early 2000s bought homes in Purchase, NY -- when one bought several more followed because they like being close to one another. With over 90 homes above $5m currently listed, LeBron has a lot to choose from if and when they call New York home.
Sports is big business with super-sized salaries. The residual revenue that a marquee sport figure could generate for a community is staggering. Read the full article, Area would benefit if LeBron came, from the Journal News.