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Olympic Superstar Michael Phelps Takes a Loss on Baltimore Townhouse (EXCLUSIVE)

SELLER: Michael Phelps
LOCATION: Baltimore, MD
PRICE: $960,000
SIZE: (approx.) 5,200 square feet, 3 bedrooms 2.5 bathrooms

YOUR MAMA’S NOTES: While American superstar swimmer Michael Phelps was down in Rio de Janeiro adding to his trove of Olympic medals this summer — he added five gold medals to the 18 he already had and one silver to the two he took home in the 2012 London games — he quietly sold a semi-detached loft-style townhouse in Baltimore’s Canton neighborhood for $960,000. Unfortunately for Mister Phelps, property records show the approximately 5,200-square-foot townhouse was acquired via corporate entity in February 2012 for $1,030,00. That means the albatross armed swimmer, the most decorated Olympian in history, took a $70,000 loss on the property not counting carrying costs, improvement expenses, and real estate fees.

Online marketing materials show the three-bedroom and 2.5-bathroom multi-level townhouse offers a cavernous open-plan living/dining space with double-height ceiling, exposed brick walls, and hardwood floors. A steel-wrapped three-sided fireplace stands between the living and dining space that flows directly into a cook-friendly kitchen that sports a double-wide center work island with polished concrete counter top and a pricey array of name brand appliances that include a six-burner range and two under-counter wine refrigerators. Other features of note include two garages that together hold upwards of eight cars, a rooftop pavilion with indoor hot tub, and a huge roof terrace with wet bar and wrap around city views

The 31-year-old ambi-stroker, now a volunteer assistant swim coach at Arizona State University, previously owned a 4,080-square-foot harbor-front condo in Baltimore’s historic Fell’s Point that he scooped up in October 2007 for $1,699,900 and dumped at a Speedo-squeezing loss in September 2012 for $1.25 million. And, as has been widely reported in property gossips columns near and far and wide, the Baltimore Bullet and his fiancée — who have a baby named Boomer — relocated last year to the prosperous Paradise Valley area in Scottsdale, AZ, where he splashed out $2.53 million for a brand spanking new Santa Barbara-style residence with five bedrooms and 6.5 bathrooms in a family-sized 6,010-square-feet.

Listing photos: Keller Williams Legacy Metropolitan

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