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Pat Riley Sells Waterfront Coral Gables House For $16.75M (PHOTOS)

Posted: 04/19/2012 11:09 pm Updated: 04/20/2012 12:06 am

Pat Riley Sells Coral Gables Real Estate Miami

If there's anyone in Miami who can make more than double his money in a house, it's the man who famously figured out how to convince three NBA superstars to take a pay cut.

Miami Heat president Pat Riley has sold his waterfront Coral Gables estate for $16.75 million, according to the South Florida Sun-Sentinel -- the same property he bought for "just" $6.3 million in 1996, meaning Riles just made a smooth $10.45 million profit.

The 5-bedroom, 8-bathroom home sits on nearly two acres at the end of Arvida Parkway in the exclusive Gables Estates Club, with a second story to better take in uninterrupted views of beautiful Biscayne Bay. Built in 1991, the home has 12,856 square feet of living space, a media room, wine cellar, library with fireplace, a private, sandy beach and dock, and a pool that can host an entire franchise for, say, an NBA title celebration.

Here's hoping Riley's new home -- wherever it is -- is equally equipped for such a celebration.

View Riley's former home below, courtesy Realtor.com.

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  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat Riley's $16.75M Sale

    Photo courtesy Realtor.com

  • Pat and Chris Riley

    Chris Riley and NBA Coach Pat Riley arrive at the AFI Life Achievement Awards: A Tribute to Michael Douglas at Sony Pictures Studios on June 11, 2009 in Culver City, California. (Photo by Frederick M. Brown/Getty Images)

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Filed by Janie Campbell  |