Fired basketball coach Rick Pitino wants $24M for Indian Creek estate

Pitino was fired from Louisville in October for alleged ties to a national recruiting scandal

Miami /
Dec.December 08, 2017 11:47 AM

Rick Pitino and his mansion (Credit: Wikimedia Commons, Luxhunters)

Ex-Louisville basketball coach Rick Pitino is listing his waterfront Indian Creek estate for just under $24 million, The Real Deal has learned.

Pitino, who was fired from the university in October for his alleged ties to a national college basketball recruiting scandal, is re-listing the property at 38 Indian Creek Drive for about $2 million less than when it was on the market last year, according to Realtor.com.

The expanded and renovated house now spans 12,000 square feet on a 1.25-acre lot, said listing agent Ralph Arias, of One Sotheby’s International Realty. The Mediterranean transitional-style home features eight bedrooms, a gym, 10 full bathrooms, a four-car garage and a motor court.

Records show Pitino and his wife Joanne paid $5.4 million for the property in 1999.

The two-time National Championship coach is looking to downsize, Arias said. In November, he filed a lawsuit against Louisville’s athletic association, asking for more than $35 million for an alleged breach of contract, the Courier-Journal reported.

Arias said the property is the least expensive home or lot available for sale in Indian Creek.

The exclusive island, which counts about 40 properties, is home to some of the 500 wealthiest people in the U.S., including activist investor Carl Icahn, car dealership mogul Norman Braman, and developers Jackie and Jeffrey Soffer. In July, Julio Iglesias listed an 8-acre assemblage of waterfront land for $150 million, or $18.75 million per acre.


Related Articles

arrow_forward_ios
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Prive at Island Estates and BH3’s Charlie Phelan, Greg Freedman and Daniel Lebensohn and Gary Cohen
Privé at Island Estates developer sues Suffolk Construction over defects
Privé at Island Estates developer sues Suffolk Construction over defects
Pierre Brondeau and Palazzo Del Sol
Pesticide exec pays $14M for Palazzo Del Sol condo
Pesticide exec pays $14M for Palazzo Del Sol condo
Howard Lorber and 1525 North View Drive
Howard Lorber buys waterfront Sunset Islands home for $12M
Howard Lorber buys waterfront Sunset Islands home for $12M
2201 Sunset Drive and David Grutman (Credit: Douglas Elliman)
Hospitality mogul David Grutman lists Sunset Islands home
Hospitality mogul David Grutman lists Sunset Islands home
Jim Cohen, Fontainebleau Development’s president of Residential, and Jeffrey Soffer, with SeaGlass Jupiter
Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
Jeffrey Soffer’s Fontainebleau Development launches sales of Jupiter Island luxury condos
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...