Pat Riley Sells His Coral Gables Mansion For $16.75 Million (Photos)
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:
The peninsula of the man who engineered the Heat's Big Three.