Professional athlete investment advisor pays record price for Bay Hill home

Joseph McLean, an investment advisor for some of the world's top professional athletes, just paid a record price for a lakefront home in the exclusive Bay Hill community.

Listed as a Trustee of The Monarch Trust, McLean paid $3.55 million for a 6,112-square-foot home at 8935 Bay Cove Ct., marking the highest price paid per square foot in the lofty residential neighborhood, listing agent Simon Simaan said. 

The deal for the five-bedroom home breaks down to a little more than $580 per square foot. John Miceli and spouse Joni McElwee sold the home through a trust listed in Miceli's name. Miceli paid $1.22 million for the 0.77-acre property in 2005, including the house built in 1972. 

Miceli is the former president and chief creative officer of the entertainment media and technology company Technomedia Solutions, where McElwee is currently CFO and vice president. 

The sellers engaged acclaimed Winter Park architect Phil Kean in 2017 to redesign and update the contemporary home, which boasts unobstructed views of Lake Tibet with 140 feet of shoreline on a white sand beach.

Notable home features include smart home automation, balconies overlooking its pool and a 1,200-square-foot grandfathered-in boat house. 

Simaan of The Simon Simaan Group said the property hit the market in November asking $3.5 million, meaning it sold for more than its original ask. 

There was a strong desire for the home, Simaan said adding he showed the home at least 18 times to prospective buyers. 

The neighborhood features 668 houses, where homes abutting the Arnold Palmer's Bay Hill golf course could fetch between $1 to $2 million, while waterfront homes often trade for prices northward of $2 million, Simaan said.

Erin Wanner of Stockworth Realty Group represented the buyer. 

McLean, a managing partner at San Ramon, California-based Intersect, advises athletes and coaches in the NBA, NFL, PGA and MLB and NASCAR along with working with successful entrepreneurs.

For more than four years, McLean played professional basketball in Australia and Europe.

He joins a number of celebrity athletes that own or have owned homes in the area including Orlando Magic guard Victor Oladipo, former PGA Pro and current Golf Channel commentator Robert Damron and Orlando Magic center Nikola Vucevic

Have a tip about Central Florida development? Contact me at arabines@GrowthSpotter.com or (407) 420-5427, or tweet me at @amanda_rabines. Follow GrowthSpotter on FacebookTwitter and LinkedIn.

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