Allen Iverson, after declining a spot with the Dallas Mavericks' D-League affiliate, has lost his wife, children and Atlanta mansion. The mansion is listed at $2.8 million.
The almost 10,000 square foot brick home at 675 West Paces Ferry Road in Atlanta, GA sold for $4.5 million in 2009. One modification Iverson made was to turn an upstairs bedroom into a closet and dressing room with all custom built-ins. It was made to accomodate up to 100 pairs of tennis shoes in one area.
Featuring six bedrooms, six full and three half baths, a family room, great room, library/office, media room, separate living room, kitchen, keeping room, pantry, breakfast area, hardwood floors, full basement, 3 car garage, pool house and a private in-law suite with separate access, the home was bought back by the bank when Iverson defaulted on a $1.2 million mortgage. Iverson built a custom bar, gourmet kitchen, master suite with "spa-like" bath, and luxury items like a slate roof with copper gutters.
In 2011, while playing for the Denver Nuggets, he defaulted on his mortgage in Cherry Hills, CO and lost his $3.875 million mansion, but a buyer entered into a contract before default. He quit making payments on a reported $2,572,914 owed on the six bedroom, nine bath, 6,848 square foot home. In 2010, Iverson sold a six-bedroom mansion in Villanova, PA while playing for the Philadelphia 76ers for $2.6 million. He originally listed the home at $6.3 million and had it on the market for three years. Reports were that after earning over $154 million in salary during his fourteen years in the NBA, plus endorsements, he is now broke. Supposedly, he still has tens of millions in a trust he cannot access for about seventeen years, but he gets a one million dollar stipend yearly.
Iverson lived in the Atlanta mansion with his wife Tawanna and their five children, retained ownership in the divorce decree and was trying to sell the house. He also lived in Detroit and Memphis during his NBA career. He does have visitation rights to his children if he follows some conditions, many pertaining to alcohol.
If you are interested in a good buy on Iverson's Atlanta mansion, contact Beacham & Company and make an offer. They list it as "one of, if not the finest, private gated estates ever to become available in Atlanta."