Friday, April 26, 2013
Submitted by: Tracey Hakwins

Pat Riley’s $16.8 Million, Ocean-Front Tear Down

The former ocean-front home of retired NBA coach and legend, Pat Riley, was purchased by an unknown buyer in March for $16.8 million. The buyer purchased the estate for the land and has already submitted a proposal to the city of Miami to completely raze the existing property.

[Miami Herald] Miami Heat President Pat Riley sold his spectacular bayfront mansion in gated Gables Estates for $16.8 million last March.

The 12,856-square-foot Mediterranean-style dream house at 180 Arvida Parkway has a theater, wine cellar, library, and a sprawling pool with waterfalls and an aqua bar.

View a slideshow of the former Riley estate here >>

Posted by Editor on 04/26/13 at 09:45 AM •  (0) Comments

Tags:  wealth, real estate, miami,

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"America does not have an aristocracy or a plutocracy."
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