Miami Heat Fires Up Real Estate

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

Last season may not have been a “banner” year for your Miami Heat, but one missed three-pointer away from the NBA Finals is pretty darn good! As the team returns to the hardwood this month for its 35th season, 2022 has seen many current and former players, team executives, and others connected to the franchise taking and making plenty of big real estate shots. From South Miami to Sunny Isles, some of basketball’s biggest names have boxed out and dunked on the competition, showing vision and talent in more than one arena. We explore the Miami Heat’s impact on the market in this edition of “South Florida by the numbers.”

$7.4 million

Price paid by Miami Heat forward Jimmy Butler in February for a six-bedroom, six-bathroom home in the Stonewood gated community near Coral Gables and South Miami. (Master Brokers Forum member Lynley Ciorobea represented the sellers of this property.) [TheRealDeal]

5,500

Square footage of a Miami Beach home owned by former Miami Heat (and current Utah Jazz) center Hassan Whiteside which was listed in April for $23 million — more than triple his purchase price in 2016. (The listing was taken off the market about one month later, according to Zillow.) The property on Surprise Lake, just off of Biscayne Bay, includes a pool, a boat dock and about 100 feet of water frontage, as well as a two-car garage, a carport and a six-car driveway. [TheRealDeal]

6

Number of seasons forward Glen Rice played for the Miami Heat, from 1989 to 1995, as well as the number of bedrooms in a Ponce-Davis home Rice purchased in 1997. He ultimately transferred ownership of the home to his ex-wife in 2008 as a result of their divorce, and Cristy Rice sold the nearly 6,000 square foot home in April for $5.1 million. (Rice represented herself in the deal.) [TheRealDeal]

$5,775

Price per square foot of a Four Seasons Residences at The Surf Club condo sold by Miami Heat president Pat Riley in May. Riley and his wife, the original owners of the condo, bought the 3,948-square-foot unit from the developer in 2018 for $8.1 million, and sold it for $22.8 million. [TheRealDeal]

43rd

Story on the south tower of the Estates at Acqualina in Sunny Isles Beach where former Miami Heat (and current Los Angeles Lakers) superstar LeBron James recently purchased a condominium. James paid $9 million for the unit via a company he manages that is linked to his Akron, Ohio-based LeBron James Family Foundation. The 49-story, 154-unit south tower was completed this summer, and the north tower is under construction. [TheRealDeal]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.