$200 Million Worth Derek Jeter Once Suffered a Financial Setback With Lavish 88th Floor Bachelor Pad Overlooking the NY Skyline

Having earned fame, respect, and love over the years, Derek Jeter is now known to be a legend. This legend got inducted into the Hall of Fame in the year 2020 with Marvin Miller, Ted Simmons, and Larry Walker.

However, the legend can sometimes make a mistake here and there, be it small or big, financial or in the game.

Well, this time, the mistake was financial, which led to a setback for the New York Yankees legend.

What led to the setback of Derek Jeter?

In the year 2001, the shortstop bought a lavish penthouse on the 88th floor in the Trump World Tower. He bought it from the ex-president of the USA, Donald Trump himself. 

The New York City condo had four bedrooms, 16-foot floor-to-ceiling windows, a living room, billiards room, piano lounge, wet bar, hardwood floors. It also included and an actual wood-burning fireplace. As beautiful as it sounds, it is even more beautiful in the pictures.

It has to be, considering it was the ultimate bachelor pad. 

However, due to some reasons, the Yankees slugger decided to sell the apartment. It was sold after having it on the market for three years in 2012. Jeter listed the price of the condo to be $20 million. But then went down to $17.95 million after being on the market for two years.

Eventually, in November 2012, he finally sold the apartment to Brazilian magnate Silvio Luiz Reichert. The price at which the apartment was sold was even less than the reduced market price. 

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The penthouse was then sold for $15.5 million, with a major loss of 22.5%. And this was a major financial setback for the baseball legend. 

How did the setback affect Jeter?

Earlier in the year, when Jeter sold his bachelor pad, the construction of his 30,000-square-foot, seven-bedroom, a nine-bath mansion on the waterfront in Tampa was also completed. Apparently, it took 2 years to get completed.

So, it can be said that after selling the condo, Jeter’s stuff was not lying around in packed boxes. But a whole mansion was waiting for him to settle in. 

However, the financial setback of $4.5 million to the baseball legend of $200 million net worth must have obviously affected him. 

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Currently, Jeter with his family is living in Miami and enjoying their time promoting his recent docuseries, ‘The Captain.’