WANNA BUY DEION SANDERS MANSION

Deion Sanders' massive Texas home has been on the market for over two years. It's doubtful you'll be surprised to read that the guy who refers to himself as "Prime Time" has been greatly overvaluing the property.

The 29,122-square-foot home belonging to the soon-to-be Hall of Famer has been listed at $21 million since going on the market in 2009. It hasn't budged from that asking price since, despite the fact that an appraisal of the property says it's worth $5.6 million, one-quarter that price

The house sits on 109 acres, features a football field, an indoor basketball court, a bowling alley, 13 bathrooms, a 12-acre lake, nine covered parking spaces, five fireplaces, three dining rooms, two indoor pools and he's going to be stuck with it cause no one is going to pay that price Deion.

More photos after the jump

-AL

MARKET MONDAY: EVEN LARGE MULTIMILLION DOLLAR COMPANIES CAN'T PAY THEIR MORTAGES

A group led by Tishman Speyer Properties has decided to give up the sprawling Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan to its creditors in the collapse of one of the most high-profile deals of the real-estate boom.

The decision comes after the venture between Tishman and BlackRock Inc. defaulted on the $4.4 billion debt used to help finance the deal. The venture acquired the 56-building, 11,000-unit property for $5.4 billion in 2006—the most ever paid for a single residential property in the U.S. The venture had been struggling for months to restructure the debt but capitulated facing a massive debt load and a weak New York City economy that has undercut rents and demand for high-priced apartments. Read more @ WSJ


-AL

MANSION ON PEACHTREE IN FORCLOSURE

And I thought I hade trouble paying my rent. One of the swankiest (is that a word?) hotels in Atlanta, Buckhead actually, is in foreclosure. I guess people were not lining up at the door to buy those million dollar condos. Check out the article here.