WallStreet Journal
Graf Lists in Miami
Friday August 31, 2007 2:27 pm ET
By Christina S.N. Lewis

Retired tennis champion Steffi Graf is asking $3.5 million for a waterfront house in Miami Beach.

The winner of 22 Grand Slam singles titles, Ms. Graf, 38, bought the roughly 3,000-square-foot home for $1.315 million in 2001, about eight months before she married fellow tennis superstar Andre Agassi. Built in 1935, the Mediterranean Revival-style four-bedroom, five-bathroom house, on nearly a quarter acre, needs renovating, according to the listing agent, Anolan Dragitsch, of SOL Sotheby's International Realty. Because the house was built before 1942, significant changes to its exterior may require approval by the Miami Beach Design Review Board.

Located on Hibiscus Island, one of several gated island communities in Biscayne Bay, the property also includes a dock, a pool and a covered terrace. It is just a few miles from Shaquille O'Neal's Star Island home, which is currently listed for $32 million, down from its original asking price of $35 million.

Real-estate developer R. Donahue Peebles and his wife, Katrina, sold their house in Santa Fe last month for $2.813 million, public records show. They paid $2.35 million in 2005 for the close to 9,000-square-foot property.

Mr. Peebles is chief executive of Peebles Corp., a real-estate development firm based in Coral Gables, Fla. The closely held company is ranked by Black Enterprise magazine as one of the largest black-owned industrial/service companies in the nation.

The Peebles didn't alter the Santa Fe property, which is located on one of two golf courses in Las Campanas, a development about 11 miles west of downtown. The contemporary adobe home has four bedrooms, 5.5 baths and a guest casita on more than 1.2 acres. The sale included two adjoining parcels of land totaling 1.89 acres, and a country-club membership.

Neil D. Lyon, of Sotheby's International Realty, had the listing. The buyers are Jeffrey Branch and his wife, Michelle. Mr. Branch, owner of a New Mexico real-estate firm, represented himself.

The Peebles spent the summer at their 10-acre Bridgehampton, N.Y., residence, which they bought for nearly $5.4 million this year. They also recently finished extensive work on their roughly 16,000-square-foot home in Coral Gables, Fla., for which they also paid $5.4 million in 2003, Mr. Peebles says.

Actor Cliff Robertson's former beachfront estate in La Jolla, a community in San Diego, was recently listed for $28 million, but the price was reduced this week to $22.5 million. The sellers are Ronald Baldwin, a real-estate developer, and his wife, Amie, who bought the home from Mr. Robertson in 2005 for $14.5 million, according to public records.

The eight-bedroom compound has about 6,100 square feet of living space on 1.4 acres. It includes a main residence with multiple fireplaces and a one-bedroom guest house with a kitchen.

Mr. Robertson, who was born in La Jolla, bought the 1922 Spanish-colonial home in 1963, according to the listing, and restored it, naming it Casa de la Paz. Mr. Robertson, 81, won an Academy Award for Best Actor for "Charly." He has appeared in all three "Spider-Man" movies.

Although the Baldwins haven't altered the property, they have extensive renovation plans that are in the final stages of review by the city. The nearly two-year process cost about $500,000 in architectural design fees, Ms. Baldwin says, and the proposed plans are included in the sale. They include expanding the size of the house by close to 4,000 square feet, adding an oceanfront pool, a gym and sauna, and roughly 3,000 square feet of patio and deck space. Since the property has been designated as a historic site, it qualifies for a tax break.

Taylor Rork, of Willis Allen Real Estate, has the listing.

Write to Christina S.N. Lewis at christina.lewis@wsj.com



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