Set on 50 feet of beach frontage, the three-story contemporary is highlighted by walls of floor-to-ceiling glass and panoramic views of the surrounding coastline. The open-space floor plan features large formal spaces, two kitchens, a recreation room with a wet bar, an office, three bedrooms and seven bathrooms in 9,320 square feet.
The master retreat occupies an entire floor and has two bathrooms, a fireplace, soaking tubs and separate closets. An elevator services the three levels.
A pair of ocean-facing balconies and a large entertainer’s terrace complete the setting.
The property last sold in 2005 for $15 million, records show. It was listed for as much as $25.95 million in 2007. More recently, the home was priced at $17.75 million.
Maxine and Marti Gellens of Berkshire Hathaway HomeService are the co-listing agents.
Alexander purchased the Houston franchise in 1993 for $85 million and enjoyed immediate success with the team, capturing back-to-back NBA titles in his first two seasons as owner. His net worth is in the ballpark of $1.6 billion, according to HoopsHype.
The former Wall Street trader previously made real estate headlines in 2013 when he paid $42 million for a penthouse apartment with an infinity pool in New York’s Gramercy Park. He owns other property in Florida, New York, Texas and Virginia.