Indiana Pacers President Kevin Pritchard closed on a waterfront site in North Bay Village where he plans to build a winter home for his family.
Pritchard, who was preceded in his current role by Larry Bird, paid $1.85 million for the 9,000-square-foot lot at 1630 South Treasure Drive, according to Brett Harris of Douglas Elliman. Harris represented the buyer, while Elliman’s Bragi Sigurdsson represented the seller, Juan Mauricio Cuellar.
The Indiana Pacers chief played six seasons in the National Basketball Association, and was also general manager of the Portland Trail Blazers and the Pacers.
Pritchard plans to knock down the existing two-story, circa 1951 home and build a five-bedroom, 5,500-square-foot house in its place. The new home will feature a movie theater, gym, rooftop deck, chef’s kitchen, wine vault and two-car garage, Harris said. Architect Max Strang is designing the house.
Property records show Cuellar, a nephrologist in Miami, paid $1.71 million for the home in 2015.
A newly built house next door at 1620 South Treasure Drive is on the market for nearly $5 million with EWM Realty International agent Nelson Gonzalez. It was also developed on a 9,000-square-foot lot.
North Bay Village is located between Miami’s Upper East Side and Normandy Isles.