Former NBA Coach Pat Riley has sold his Biscayne Bay Waterfront Home for $16.5 million according to the South Florida Business Journal. He is the current president of the Miami Heat and also maintains residence at the South of Fifth luxury condominium building, The Apogee. Riley bought 180 Arvida Parkway in 1996 for $6.3 million, and they are making quite a profit as the Miami Dade Tax assessors value the home at $12.6 million. Their home in The Apogee is over 5,000 square feet and worth an estimated $11million. In terms of the future of his stay in Miami with the Heat, it seems that their Apogee home will keep them in the lap of luxury for years to come.
The expansive Coral Gables estate is just under 13,000 square feet and was completed in 1991 featuring 5 bedrooms and 8 bathrooms. Built in the popular Mediterranean Style, the home features a wine cellar, elevator, sauna and spa, majestic library with spa, wired intercom, guard gate onsite, mastersuite, and enormous theatre room. This home is surrounded by water and it is one of the only peninsular homes in Coral Gables. The lot is gigantic with over 80,000 square feet and has expertly manicured grounds, gardens, lawns, protected boat dockage, huge pool with swim up bar, and waterfalls. There are not many homes of this magnitude in Miami and we are pleased to offer you this inside glimpse. For more information on this home and to view homes comparable to it, please contact us today!