Swish! Miami Heat’s Jimmy Butler sells Pinecrest mansion for $7M

The NBA all-star sold the five-bedroom home to venture capitalist Reshma Sohoni

Miami /
Sep.September 07, 2021 12:30 PM
Jimmy Butler, Reshma Sohoni and 8975 SW 63 Court (Getty, Google Maps)

Jimmy Butler, Reshma Sohoni and 8975 SW 63 Court (Getty, Google Maps)

 

Miami Heat star Jimmy Butler swished through a mansion sale.

An entity managed by Butler sold the five-bedroom house in Pinecrest for $7.1 million, about $2.5 million more than its purchase price two years ago, records show. Reshma Sohoni, managing partner of London-based venture capital firm Seedcamp, bought the home at 8975 Southwest 63rd Court.

Butler recently signed a four-year, $184 million contract extension with the Heat. He joined the team in July 2019 through a sign-and-trade deal with the Philadelphia 76ers and led Miami to the NBA Finals in his first season. His second season ended with a disappointing first round playoff exit to the 2021 NBA champions Milwaukee Bucks. Entering Butler’s third season, the Heat retooled and added Butler’s friend and former Toronto Raptors star point guard Kyle Lowry to the roster.

The buyer of Butler’s home, Sohoni, co-founded Seedcamp in 2007. In November, the venture capital firm raised roughly $107 million for its most recent fund, according to press reports. Seedcamp provides early stage investments in European tech start-ups.

Butler bought the two-story, 8,958-square-foot Pinecrest mansion for $4.6 million in September 2019, records show. The home was built in 2013.

Michael Martinez with One Sotheby’s International Realty represented Butler in the most recent sale. David Siddons of Douglas Elliman represented the buyer.

In June, Miami Heat icon and three-time NBA champion Dwyane Wade and his wife Gabrielle Union sold their waterfront Miami Beach estate for $22 million, $10 million above their asking price in 2019. Victor Oladipo, who joined the Heat in March via a trade with the Houston Rockets, bought a non-waterfront spec home in Miami Beach in May for $7.8 million.

Sohoni joins other big honchos in Pinecrest. In June, Elliot and Julia Wittlin bought a spec home for $5.2 million. Eliott Wittlin is a portfolio manager at Moore Capital Management, a private investment management firm with offices in New York, London and Washington, D.C. Julia Wittlin is a portfolio manager for BlackRock Private Equity Partners Group.

In May, Thomas Moorehead, the first African-American car dealer for Lamborghini, McLaren and Rolls-Royce, bought a house at 9121 Southwest 62nd Court for $9.8 million. The purchase broke the record for a single-family home sale in Pinecrest.


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