Departed Net Ben Simmons selling DUMBO pad less than two years after he moved in, aiming for nearly $3M in profit. (Unlikely, but you never know)

The oft-injured, underwhelming, and now-departed Brooklyn Nets guard Ben Simmons is now selling the combined loft apartment in DUMBO he bought back in 2022, aiming for nearly $17 million, about $3 million more than he spent, according to the Wall Street Journal.

Surely that's an aspirational price, but you never know.

As I asked in November 2023, is buying real estate in Brooklyn a wise idea for a basketball player who could be traded at any time? Maybe not, from a strictly economic perspective, given transaction costs and the difficulty in selling a particularly expensive residence, at the Olympia tower.

Then again, Simmons signed a 5-year, $177 million contract through the 2024-25 season, with career earnings (not counting endorsements) through 2024-25 over $203 million.

So he could take a financial hit. 

NetsDaily recounted "brief, shining moments of hope" during Simmons's three years in Brooklyn, but after an injury" never showed such signs of life again."

Simmons was the key piece, along with two first-round draft picks, when the Nets in February 2022 traded superstar James Harden, who wanted out, the Philadelphia 76ers, who had already given up on Simmons.

The backstory

Simmons was reported by the New York Post in August 2023 to have "closed on a two-apartment combo deal on the 21st floor, creating an eight-bedroom, loft-like space for a total of $12 million."

Records suggest that he paid $8.295M for Apt. 21A and $4.775M for Apt. 21D, via a buyer known as NoSocial LLC.

The Wall Street Journal quoted the listing agent as saying Simmons paid about $14 million, including the cost of combining the two apartments.

From the listing

The listing, with Douglas Elliman, states:

Set high above the city in Dumbo's most exclusive new development, Residence 21A/D at Olympia is an ultra-luxurious sanctuary spanning 5,261 SF (312 SM) of flawless design, with an expansive 322 SF (29.9 SM) wraparound terrace offering breathtaking 180-degree views of the Manhattan skyline, New York Harbor, and the Statue of Liberty.

Step into five bedrooms, five full baths, and two half baths, where every detail exudes refined elegance. The entertainment and guest wing is designed for hosting on a grand scale, featuring a state-of-the-art home theater and seamless indoor-outdoor flow. The principal suite is a private retreat, complete with a enormous walk-in custom dressing room, a dedicated walk-in shoe closet, that redefines opulence.

The building has two pools, one outdoor, a private tennis court, a spin studio, a boxing gym, a juice bar, a pet span and more, claiming to be "the pinnacle of modern luxury."