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Yankees owner's estate a steal?

After a price drop from $4-million to $2.9-million, the buyer calls it "a good deal."

By BRADY DENNIS
Published February 18, 2005

A Tampa lawyer has purchased the sprawling estate that Yankees owner George Steinbrenner had on the market for more than a year.

And it appears the buyer bought it at a discount.

Steinbrenner put his Beach Park estate up for sale for more than $4-million in fall 2003. The site at 5002 Shore Crest Circle has two homes, more than 10,000 square feet of living space, a pool, Jacuzzi and tennis court.

John Bales and his wife, Tracy, bought the property for $2.9-million Dec. 20, Hillsborough County records show.

"I felt like it was a good deal," said Bales, who has moved into the home. "Mr. Steinbrenner was in a position to decide to give me a good deal, and I thank him for that."

Steinbrenner purchased the estate for $1.4-million in March 1986, records show.

The Bales' new home is nearly three times larger than their old one, a four-bedroom, three-bath canal front house on Davis Islands. That house, at 502 Lucerne Ave., had an asking price of about $1.5-million and is under contract.

Bales, a former president of the Hillsborough County Bar Association, said he'll miss his old neighborhood.

"Davis Islands truly has an island feel," he said. "It's a very tight-knit group."

Still, he never planned on moving far.

"I like South Tampa. I've lived here since the early '80s," he said.

Steinbrenner didn't move far, either. He left the Shore Crest Circle home several years ago and paid $3.8-million for a 13,400-square-foot house bordering the Palma Ceia Golf & Country Club.

He could not be reached for comment.

[Last modified February 17, 2005, 10:50:08]