Edgardo Defortuna, head of Fortune International Realty, says the LeBron effect is real but hard to quantify. He says 49 units at Icon Brickell have sold since LeBron's announcement, and July sales for downtown were nearly double the number in June. "I've had friends from South America call and tell me they'll buy an apartment," he says, "but only if I can find them Heat tickets first."
HoopsVibe’s Very Quick Call: Cleveland hates him. Miami loves him. Just not for the obvious reason.
Sure LeBron James’ migration from Ohio to Florida will impact the Cavaliers and Heat’s on-court fortunes. The Cavs’ are now rebuilding; the Heat are now contenders.
Forget wins and losses. Forget the standings, playoffs, and quest to dethrone the two-time world champion Los Angeles Lakers.
James’ greatest impact may be on the Cleveland and Miami economies. After all, The King guarantees a sold-out building, which also means busy restaurants and pubs, full hotels, and, most importantly, the national spotlight.
Cleveland lost all of that. Their loss is Miami’s gain.
The Heat have already filled their building for the year. South Beach is buzzing. And now there are reports the struggling Florida real estate market is heating (pardon the pun) up.
All of this magnifies the poor manner in which James handled his free agency. Cleveland and Miami will be feeling the impact - good or bad - of The Decision for years to come.
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