Pat Riley keeps making big moves, even off the court. The Miami Heat president recently completed a big deal that secured him over $20 million. The legendary NBA coach and executive cashed in on a big opportunity, earning a big-day payment in recent hours.
Riley, who has won 5 NBA championships as a head coach, has completed the sale of his Four Seasons Surf Club condo, getting a lot of money in return. The former head coach and his wife made a decision that granted them big money.
Via The Real Deal:
NBA luminary Pat Riley scored $22.8 million when he and his wife, Christine, sold their Four Seasons Residences at The Surf Club condo in Surfside to a trust.
Property records show the Rileys sold unit S-507 at 9001 Collins Avenue to Richard N. Cohen, as trustee of the 9001 Collins Avenue Land Trust. Cohen registered with a New York City P.O. box.
Riley has long been an NBA icon and South Florida resident. In 1995, he became president and head coach of the Miami Heat. He remained head coach until 2003 and took the role again from 2005 to 2008. As head coach, he’s won five NBA championships, the latest in 2006 with the Miami Heat, according to published reports.
Riley and his wife are the original owners of the condo. They bought the 3,948-square-foot unit from the developer in 2018 for $8.1 million, records show. It comes with four bedrooms, five bathrooms and one-half bathroom.
The Miami Heat are trying to win it all this season, and even though they're 2-2 tied with the Boston Celtics in the Eastern Conference Finals, the Floridians remain confident that they can lift the Larry O'Brien trophy this season. Riley is clearly winning off the court. It remains to be seen if his luck can be transferred to his team and they get that first NBA championship since 2013.