Life & Style is reporting that LeBron James, who recently signed a six-year, $110 million deal with the Miami Heat, has started the paperwork to buy a $49.5 million mansion in the most expensive portion of Coral Gables, Florida. The home was once owned by the Miami Heat’s General Manager Pat Riley, and was taken off the market shortly after Lebron’s nationally televised “The Decision” show.

The home features include:

• Eight bedrooms and 11 bathrooms;

• 880 feet of waterfront;

• Master suite with a full gym;

• Private guest suite with its own tennis court and courtyard on an acre of land.

• 150-foot dock

Taxes are about $1 million per year, with an additional $150,000 price tag for utilities. South Florida auto magnate  owner Alan Potamkin owns the home, and he has listed the home for $49.5 million.

Peep the photos below:

Photo Source:

Jackson was photographed by Rocco Laspata of Laspata DeCaro, at the Milk Studios in New York. The campaign, which begins in September, will span print, online and outdoor outlets. The ads will appear in Vanity Fair, W, Vogue, T Magazine and Harper’s Bazaar, as well as WWD and Style.com, in addition to the international editions of Vanity Fair, Vogue, Elle and Harper’s Bazaar.

Jackson flew to New York for the shoot after performing on the finale of “American Idol,” where her performance shot up to number one on iTunes (which she pointed out via Twitter after the fashion shoot).

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Ms.Dramatv.com hits the red carpet again for another batch of on the spot interviews. CEO & Chairman of BET, Debra Lee talks about new programming and her favorite rappers. Toya, from BET’s Tiny and Toya, talks about the end of her current show and the spin-off that is in the works.