{"id":2577,"date":"2023-06-10T04:45:54","date_gmt":"2023-06-10T04:45:54","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/06\/10\/nba-cribs-the-marvelous-homes-of-the-miami-heat\/"},"modified":"2023-06-10T04:45:54","modified_gmt":"2023-06-10T04:45:54","slug":"nba-cribs-the-marvelous-homes-of-the-miami-heat","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/06\/10\/nba-cribs-the-marvelous-homes-of-the-miami-heat\/","title":{"rendered":"NBA Cribs: The Marvelous Homes of the Miami Heat"},"content":{"rendered":"

<\/a><\/p>\n

Matthew Stockman \/ Stacy Revere \/ Getty Images \/ Realtor.com<\/p>\n

<\/p>\n

This season marks the seventh time the Miami Heat<\/strong> have won the NBA\u2019s Eastern Conference. Familiar faces in the NBA Playoffs, the Heat are led by superstar Jimmy Butler<\/strong>, who has taken his game to new heights and brought the team along with him.<\/p>\n

Butler\u2019s always been talented, but his sometimes-abrasive personality has kept his bags packed. The man now known as Playoff Jimmy has bounced around the NBA in search of a home. He\u2019s finally found kindred spirits in the Sunshine State, but establishing a true home of his own in Miami<\/a> has proven to be a bit of a process.<\/p>\n

And his Heat teammates are experiencing some difficulty cracking the code to defeat Nikola Jokic<\/strong>, Jamal Murray<\/strong>, and the rest of the Denver Nuggets<\/a>.<\/p>\n

Perhaps they can get some tips from the man upstairs: well-decorated team president,\u00a0Pat Riley.<\/strong>\u00a0The former head coach is said to have taken a more hands-off approach in recent seasons, but any nuggets<\/em> of wisdom from a man who coached five championship-winning NBA teams would likely be welcome.<\/p>\n

His property strategy off the court? Buy and hold in one of the nation\u2019s most expensive markets. It\u2019s proven to be a successful method for him so far. Let\u2019s take a peek at the real estate the Heat\u2019s real estate! We\u2019ll start at the top.<\/p>\n

Pat Riley<\/h2>\n

Heat prez\u00a0Pat Riley<\/strong> has an unparalleled NBA resume. A champion as a player, a five-time winning coach, and a two-time winning team executive, he has enough rings for both hands. The basketball Hall of Famer is also the owner of prestigious properties on both coasts.<\/p>\n

Charmingly, he still owns the two-bedroom,\u00a0Malibu<\/a> house he purchased back in 1989 for $1.6 million during his storied run as Los Angeles Lakers<\/strong> head coach. And the former coach obviously fell in love with his private, gated neighborhood overlooking the Pacific Ocean. Riley\u2019s game plan included the purchase of two neighboring homes over the decades\u2014a three-bedroom home in 2000 for $2.5 million and a second three-bedroom property next door in 2007 for $7 million.<\/p>\n

It\u2019s unclear if Riley has linked the trio of homes to create a massive compound. One morsel of evidence suggests they\u2019ve remained separate: In 2013, the initial Malibu home he purchased went on the luxury rental market<\/a> for $18,500 a month.<\/p>\n

The three properties are auspiciously situated in one of the country\u2019s most expensive real estate markets. So just what are home values like in this neighborhood? Well, a four-bedroom house just down the street from Riley\u2019s is currently on the market for $12.5 million<\/a>.<\/p>\n

As for a dwelling in the Sunshine State, Riley has a luxe condo in the Apogee building<\/a> at the very tip of South Beach<\/a>. Riley bought his top-floor, four-bedroom unit for $11,750,000 in 2008, at the conclusion of his coaching career.<\/p>\n

Apogee building in Miami<\/p>\n

Realtor.com<\/p>\n

Erik Spoelstra<\/h2>\n

Tapped by Riley to coach the Heat in 2008, the unheralded Erik Spoelstra stepped into a high-pressure situation and has remained in place\u2014in a league where firings are all too familiar. He weathered the initial storm of the LeBron James<\/strong><\/a> era in Miami and wound up with two championship rings.<\/p>\n

Now back in the title fight for the sixth time as a coach, Spoelstra is the league\u2019s second-longest-tenured head coach.<\/p>\n

He has a stylish, six-bedroom\u00a0Coral Gables, FL<\/a>, home\u00a0that he bought for $4,395,000 in February 2017. The home, described as a \u201cboater\u2019s paradise,\u201d landed on the market in June 2015 for $5,490,000. It was offered as a luxury rental for $22,500 a month before Spoelstra scooped it up. Sitting right on a waterway connected to the Atlantic Ocean, it\u2019s outfitted with a media room, private in-law residence, boathouse, and dock.<\/p>\n

Spoelstra\u2019s Coral Gables home<\/p>\n

Realtor.com<\/p>\n

Jimmy Butler<\/h2>\n

Heat franchise player Jimmy Butler<\/strong> has led this Miami squad into the finals. A stellar performer who shines brightest when the intensity is ratcheted up, Butler\u2019s brand of braggadocio and talent has earned him that Playoff Jimmy moniker. The six-time All-Star has been a perfect match for the all-out brand of basketball that has become the Heat\u2019s specialty.<\/p>\n

Also known as Jimmy Buckets, the talented forward bounced through Chicago, Minnesota, and Philadelphia before landing in Miami.<\/p>\n

As a well-traveled (and well-compensated) superstar, Butler has remained busy juggling properties from coast to coast. In the off-season, he makes his home in sunny Poway, CA<\/a>, just outside San Diego<\/a>. In 2020, he purchased a 15,844-square-foot mansion from former baseball All-Star,\u00a0Matt Kemp<\/strong>.<\/p>\n

A 2015 article<\/a> places Butler in the same home as a renter enjoying the Southern California lifestyle. He liked the mansion well enough to eventually purchase it\u2014and score a serious discount in the process. Kemp originally listed the home for $11.5 million in 2016<\/a>, before ultimately selling it to an LLC linked to Butler, for less than half that price.<\/p>\n

Butler\u2019s Poway mansion<\/p>\n

Realtor.com<\/p>\n

And while he left the Bulls behind in 2017, Butler still has an affinity for the Windy City. He owns a two-bedroom condo in Chicago\u2019s\u00a0River North<\/a> neighborhood. He purchased the place for $1.2 million in 2018. Located in The Ronsley<\/a> building, Butler was said to enjoy<\/a> the property\u2019s exposed brick, high ceilings, and privacy.<\/p>\n

Ronsley building in Chicago<\/p>\n

Realtor.com<\/p>\n

Following his trade to the Minnesota Timberwolves, Butler did part with a stately Chicago<\/a> mansion\u2014also in the River North neighborhood. The 10,000-square-foot brick residence, with three outdoor spaces, went on the market in July 2017 for $5 million. It sold in November 2017 for $4.2 million.<\/p>\n

Jimmy Butler\u2019s former Chicago mansion<\/p>\n

Realtor.com<\/p>\n

Although he only played a single season in Philly, Butler stayed in style. He rented a six-bedroom mansion<\/a> in Ambler, PA<\/a>, known as Camp Woods Estate. In August 2020, the home \u201coffered fully furnished with luxurious modern furnishings\u201d landed on the market<\/a> for $6 million and sold couple of months later for $4.1 million.<\/p>\n

Ambler, PA<\/p>\n

Realtor.com<\/p>\n

Butler\u2019s activity in Florida has been fascinating to follow, as well. After signing a lucrative four-year, $184 million contract with the Heat in August 2021, he sold a home he had purchased in Miami<\/a> two years prior for $4.5 million. He also managed to score a sweet profit, selling the seven-bedroom mansion<\/a> for $7.11 million.<\/p>\n

A few months later in January 2022, Butler bought a six-bedroom mansion<\/a> in South Miami<\/a> for $7.45 million. In a gated community of just 12 homes, the place looked like the perfect spot to settle down for a while. But Butler had other ideas. The home sold just five months later for $7.5 million. Since that sale, we haven\u2019t been able to pin down where Butler stays as he leads the Heat on their championship quest.<\/p>\n

Butler\u2019s short-lived Miami mansion<\/p>\n

Realtor.com<\/p>\n

Kevin Love<\/h2>\n

After joining the Heat in February, the veteran Love has provided a much-needed interior presence in some crucial moments off the bench. He\u2019s been here before, having won the 2016 title with the Cleveland Cavaliers<\/a>. He was let go by the Cavs earlier this season, so he hasn\u2019t had time to address the sale of his\u00a0Cleveland<\/a> home.<\/p>\n

Purchased in 2015 for $1.3 million, the five-bedroom abode sits in a gated community in the Bratenahl<\/a> area. Just a few blocks from Lake Erie, the home will likely wind up on the market this summer\u2014unless Love truly loves staying in Cleveland while his career takes him elsewhere.<\/p>\n

But who needs Cleveland when an off-season home awaits in NYC? According to a 2020 article<\/a>, Love and his wife own a place in Tribeca<\/a> at 70 Vestry.<\/p>\n

The building designed by Robert A.M. Stern<\/strong> sits right along the Hudson River waterfront and offers residents a \u201ccomplete lifestyle package\u201d with a range of high-end amenities, including a concierge, an 82-foot indoor pool, and entertaining spaces.<\/p>\n

70 Vestry lobby<\/p>\n

Realtor.com<\/p>\n

While in Miami, Love appears to have set up shop in a luxury condo in Coconut Grove<\/a>. The three-bedroom unit in the One Park Grove<\/a> building had been on the market as a rental with a price tag of $42,000 a month.<\/p>\n

Bam Adebayo<\/h2>\n

Fellow Heat forward Bam Adebayo<\/strong> also appreciates high-rise life and, like Love, seems to be a renter, too. Though Adebayo has been with the Heat since debuting as a rookie back in 2017, we were unable to find any evidence that he\u2019s bought a place of his own.<\/p>\n

Adebayo is in the middle of a five-year, $163 million contract extension; and while he might still be a renter, we\u2019re a bit skeptical.<\/p>\n

That aside, it appears as if he stays in a high-floor unit in the 50 Biscayne<\/a> building in downtown Miami<\/a>. About a 10-minute walk from the Heat\u2019s arena, the unit was being offered for rent in 2017 for $3,000 a month. We\u2019re guessing the rate has risen over the past six years, but so has Adebayo\u2019s status.<\/p>\n

Udonis Haslem<\/h2>\n

While it seems like Spoelstra has been coaching the Heat forever<\/em>, one player on the roster actually predates his arrival. Udonis Haslem<\/strong> made his Heat debut in 2003 and has been a part of three championship squads in Miami. Serving more of a mentor role over the past seven seasons, Haslem keeps his spot on the roster thanks to the respect he\u2019s earned with Heat management.<\/p>\n

While this is his last season in uniform, he\u2019ll likely transition into an advisory or coaching role with the only team he\u2019s ever known. As a result, he\u2019ll probably hang on to the five-bedroom home in Southwest Ranches<\/a> that he purchased for $3.2 million back in 2007. Described as a \u201cFrench Country-style\u201d estate, the residence sits on nearly three acres in this suburb popular with professional athletes<\/a>.<\/p>\n

Tyler Herro<\/h2>\n

Herro has been on the injured list during the Heat\u2019s playoff run, but that means more time for the stylish guard to work on rehabbing his hand in his Pinecrest<\/a> mansion. He purchased the eight-bedroom home at the tail end of 2022 for $10.5 million\u2014a price that\u00a0set a local record<\/a>.<\/p>\n

Listed in August 2022 for $11,850,000, the spec home was built in 2021 and marketed as \u201cThe Crown Jewel of Pinecrest.\u201d The 9,505-square-foot pad offers a tropical, modern, and vaguely Balinese vibe and comes with gorgeous landscaping, water features, and sleek interior spaces.<\/p>\n

Herro\u2019s Pinecrest backyard<\/p>\n

Realtor.com<\/p>\n

Kyle Lowry<\/h2>\n

Well-traveled point guard Kyle Lowry<\/strong> is gunning for his second ring, having won in 2019 with the Toronto Raptors. In his second season with the Heat, Lowry might be renting. We found him connected to a high-end home in Coral Gables, FL<\/a>, that was purchased in 2021 for $17.4 million, but we\u2019re not completely sure that it\u2019s his.<\/p>\n

He was also mentioned<\/a> as one of the Heat players who choose to stay steps away from the arena at The Elser Hotel and Residences in downtown Miami. The upscale building is equipped with the sorts of amenities players seek out\u2014a pool area with private lounges, coworking spaces, and a yoga lawn.<\/p>\n

We\u2019re not 100% sure of where Lowry stays in the Sunshine State, but we do know the Philly native owns a four-floor mansion in Wayne, PA<\/a>, that he purchased for $2.6 million in 2015. The English-inspired manor was built in 1932 but was fully renovated and modernized in 2009.<\/p>\n

Kyle Lowry\u2019s Pennsylvania mansion<\/p>\n

Realtor.com<\/p>\n

Randy White (stonecrestmediava@gmail.com) contributed to this report.<\/em><\/p>\n

The post NBA Cribs: The Marvelous Homes of the Miami Heat<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Matthew Stockman \/ Stacy Revere \/ Getty Images \/ Realtor.com This season marks the seventh time the Miami Heat have won the NBA\u2019s Eastern Conference. Familiar faces in the NBA Playoffs, the Heat are led by superstar Jimmy Butler, who has taken his game to new heights and brought the team along with him. Butler\u2019s…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":2578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/2577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=2577"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/2577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/2578"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=2577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=2577"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=2577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}