Pat Riley Sells His Coral Gables Mansion For $16.75 Million (Photos)

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The Gordon Gekko of roundball is apparently downsizing. Slicked-back Miami Heat president and former coach Pat Riley and his wife Christine just sold their appropriately gaudy Coral Gables property.

They bought the 180 Arvida Parkway mansion, which is 13,000 square feet on a two-acre beachfront peninsula, in 1996 for $6.3 million. According to Miami Condo Investments, they turned a tidy profit by selling the property for $16.75 million. (A Miami-Dade property assessor, if you're curious, had valued the spread at $12.6 million.)

As far as Riley's future with the team, we wouldn't read too much into the sale. He and his wife still own an $11 million, four-bedroom, 5,325-square foot apartment in the Apogee building on South Pointe in Miami Beach.

Damn, it must feel good to be a basketball gangsta.

Here's a photo tour of the Coral Gables spread:

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The peninsula of the man who engineered the Heat's Big Three.

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A private beach, on which we have trouble imagining Pat Riley relaxing.

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The S.S. Armani.

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1 comments
Jessielasky
Jessielasky

Gus.....lets get back to the Surfside election because it will serve as a proxy for how honest or dishonest you are as a reporter.   Are you  really committed to serving or are you just jagging the people around who are sick of the maniacal rule of  the Carlton ruse.  Its damn easy to be a flippant  reporter and rag on about every little thing but actually DOING something in life is alot harder.  Come on Gus, get honest with the people already!

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