The Real Deal Miami

Ray Allen buys Coral Gables manse for $11M

Three-time NBA champ was renting home from billionaire Miguel Fernandez
July 09, 2014 09:45AM

Miguel Fernandez and Ray Allen

Miguel Fernandez and Ray Allen

Ray Allen’s future with the Miami Heat is uncertain, but the outside shooting aficionado is putting down roots in South Florida anyways.

Billionaire medical entrepreneur Miguel Fernandez sold a trust tied to Allen a Coral Gables mansion for $11 million last week. The 10-bedroom home at 5 Tahiti Beach Island Road totals 11,533 square feet and has nine-and-a-half bathrooms. The buying trust is managed by Orin Mayers, who is Allen’s business manager.

Allen previously rented the mansion from Fernandez.

The more than 37,000-square-foot property includes a private beach, according to the South Florida Business Journal. Fernandez, who runs MBF Healthcare Partners, marketed the home for sale for at least two years. Other features include a library, elevator, gym, sauna and spa bath.

A National Basketball Association guard since 1996, Allen was a key part of three championship teams, including the Heat’s most recent two titles. He hit a three-pointer with five seconds left to keep the Heat alive against the San Antonio Spurs during the 2013 NBA Finals. [SFBJ]Eric Kalis