The Real Deal Miami

Miami Heat star finally sells Florida manse at 70 percent discount

April 08, 2010 01:48PM

Dwyane Wade and his Pinecrest home

Miami Heat star Dwyane Wade missed the mark when he sold his 9,000-square-foot Pinecrest mansion last week at a $1.5 million loss, according to research firm and brokerage Condo Vultures. The basketball star bought the nine-bedroom spread with wife Siohvaughn Wade at the height of the housing market, paying $3.98 million, or $440 per square foot, in August 2005. The couple is now reportedly going through a divorce. Last week the home, on Southwest 59th Place, sold for just $2.5 million, or $277 per square foot. Wade’s home was originally listed for $8.9 million in March 2007 and has a long history of price reductions. The price was first slashed to $6 million in August 2007, then to $4.99 million the following April. It was taken off the market in January 2009 and relisted in May 2009 at $3.3 million. The final price cut, to $2.9 million, was in Feburary 2010. TRD