Pat Riley Sells Miami Mansion for $16.75M
April 19, 2012 by Lucas Lechuga
Pat Riley, president of the Miami Heat, and his wife, Christine, have sold their waterfront mansion located at 180 Arvida Parkway in the posh subdivision of Coral Gables called Gables Estates for $16.75M. The 5 bedroom/8 bath estate sits on approximately 2 acres with 900 linear feet of watefrontage. The sales price represents a discount of over 25% from its $23M asking price. Pat and Christine Riley purchased the home for $6.3M in 1996. The couple will likely now reside in their penthouse at Apogee South Beach.
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