180 Arvida Parkway and Pat Riley

The new owners of Miami Heat president Pat Riley‘s former Coral Gables home are planning to demolish the sprawling mansion, the Miami Herald reported. Riley sold the 12,856-square-foot Mediterranean-style mansion to a company called 180 Arvida last March for $16.8 million. [more]

180 Arvida Parkway and Pat Riley

Miami Heat President Pat Riley has sold his Coral Gables home for $16.75 million, the South Florida Business Journal reported. Riley, who won a championship as head coach of the Heat in 2006, purchased the home in 1996. He and his wife, Christine, sold the property to a company called 180 Arvida. The 13,000-square-foot home is located at 180 Arvida Parkway in the tony Gables Estates section of Coral Gables. [SFBJ]