Soccer Star Kaká Buys a Fancy $8.7 Million Condo in Miami

What’s the Big News?

Imagine a giant soccer tournament called the World Cup. Some people who sell houses (called brokers) and people who build houses (called developers) thought this tournament would make everyone want to buy homes in Miami, like a shopping spree for houses. But that didn’t happen as much as they thought.

However, one very famous soccer player named Kaká just bought a really expensive apartment (called a condo) last month.

• Brokers and developers guessed the World Cup would kick off a "real-estate buying frenzy" (lots of people buying houses quickly) in Miami.
• The "World Cup bump" (a small increase in home buying because of the tournament) wasn’t as dramatic as predicted.
• But public records show that Kaká spent $8.7 million on a condo in Miami-Dade (a part of Miami) last month.

Important Point: Even though the World Cup didn’t cause a huge rush to buy homes, a big soccer name still dropped a lot of money on a fancy place!

Who is Kaká?

Kaká is not his real name, but a nickname. His full name is Ricardo Izecson dos Santos Leite. He is from Brazil and used to play soccer professionally, but now he is retired (meaning he stopped playing). He is considered one of the greatest players ever.

• He played on Brazil’s team that won the World Cup in 2002.
• Many fans and experts think he is one of the best soccer players of all time.
• He is now 44 years old.

Kaká’s Soccer Journey (Step by Step)

1. He started his professional career at age 18 with a Brazilian club called São Paulo.
2. Later, he played for two famous European clubs: AC Milan (in Italy) and Real Madrid (in Spain).
3. He finished his club career in Florida, playing for the Major League Soccer team Orlando City SC until he retired in 2017.
4. He was an "attacking midfielder" (a player who helps create and score goals from the middle of the field) and played for Brazil in the World Cups of 2002, 2006, and 2010.

The New Condo in Bal Harbour

Kaká bought a condo in a building named Oceana Bal Harbour. A condo is like an apartment that you own.

• It has three bedrooms and is 3,345 square feet (that’s a big living space!).
• The building has 24 stories (floors) and 226 units (apartments), finished in 2016.
• His unit is on the 14th floor.
• It has balconies facing east and west (like small outdoor porches) with views of the Atlantic Ocean and Biscayne Bay (big bodies of water).
• The condo was first listed in January for $9.5 million, but Kaká bought it for $8.7 million.
• Before Kaká, the owner was Gaston Siciliano, who bought it for $6.5 million in 2022 (so he sold it for more than he paid).

Who Helped with the Sale?

• Michael Martinez from ONE Sotheby’s International Realty represented the seller (the person selling the condo).
• Jennifer Olmeda with WRA Real Estate Solutions LLC also represented the seller.

Important Point: The condo cost $8.7 million, which is less than the $9.5 million asking price but still a huge amount of money!

Other Soccer Stars in South Florida

Kaká is not the first soccer star to buy a home in South Florida (the southern part of Florida).

• Another Brazilian player from the 2002 World Cup winning team, Ronaldo Nazário, bought a condo earlier this year for $8 million. It’s a waterfront penthouse (top-floor apartment by the water) in Bay Harbor Islands, not far from Kaká’s new place.
• Lionel Messi, who plays for Inter Miami and Argentina’s national team (his team was set to face Switzerland in the World Cup quarterfinals on a Saturday), bought a $10.8 million home in Fort Lauderdale’s Bay Colony neighborhood in 2023.
• David Beckham, the president and co-owner of Inter Miami, owns an $80 million waterfront estate (a huge fancy house by water) on North Bay Road in Miami Beach.

Look Inside the Soccer Star’s New Condo

The original article showed pictures of the condo. Here are the cool things we learned from those pictures:

• The living room has big windows with views of the Atlantic Ocean.
• The east-facing balconies look out at the Atlantic Ocean and the building’s two swimming pools.
• The dining area has rotating mirrored panels (mirrors that can turn around).
• The kitchen is part of the fancy condo.
• The west-facing balcony shows Biscayne Bay.

Summary

Even though the World Cup didn’t cause the big home-buying craze some people expected, retired Brazilian soccer legend Kaká bought a luxurious $8.7 million condo in Bal Harbour, Miami. He is a World Cup winner from 2002 and played for famous clubs before retiring in Florida. His new home is on the 14th floor of Oceana Bal Harbour with ocean and bay views. Other soccer stars like Ronaldo, Messi, and Beckham also own property in South Florida. This shows that sunny Miami is a favorite spot for soccer celebrities!

This article was written by Catherine Odom, a real estate reporter for the Miami Herald.

FAQ

Q1: What is a condo?
A: A condo (short for condominium) is like an apartment that you own. You share the building with others but your own unit is yours to keep.

Q2: Why did people think the World Cup would cause a real estate frenzy?
A: Brokers (house sellers) and developers (house builders) speculated that the big soccer event would bring attention to Miami and make many people want to buy homes there, but the effect was smaller than predicted.

Q3: Who is Kaká and why is he famous?
A: Kaká is the nickname of Ricardo Izecson dos Santos Leite, a retired Brazilian soccer player. He is famous for winning the 2002 World Cup and being one of the greatest midfielders ever.

Q4: Are there other famous soccer players with homes near Kaká?
A: Yes! Ronaldo Nazário bought a penthouse nearby, Lionel Messi bought a home in Fort Lauderdale, and David Beckham owns a big estate in Miami Beach.

Q5: How much did the previous owner pay for the condo?
A: The previous owner, Gaston Siciliano, purchased the unit for $6.5 million in 2022, and later sold it to Kaká for $8.7 million.