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.
A private beach, on which we have trouble imagining Pat Riley relaxing.The S.S. Armani.
The pool area, with a hot tub that looks big enough to fit one of Riley's employees.
This room is way to Southwestern pastel-y to be Mr. Riley's idea.
This is a little more like it. That is some bad art.
Is that a statue of a bear? Is that Riley's spirit animal?
Where Riley must have cackled maniacally as Sportscenter breathlessly reported on the signings of LeBron James and Chris Bosh to join Dwyane Wade.
Goodbye, Pat Riley's evil lair.
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