Mega mansion frenzy: Buyer snaps up Pat Riley’s $16M home to level it, rebuild
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.
But that’s all coming down.
Turns out the lure was the lot: a rare fingertip of prime land, nearly two acres, jutting into the turquoise waters of Biscayne Bay.
In December, the buyer — listed as 180 Arvida LLC represented by Miami attorney Mark Hasner — presented the city of Coral Gables with plans to tear down the home, built in 1991, and erect an even grander estate along the 900 linear feet of bayfront.