Where Does Pat Riley Live in Florida? His South Beach Penthouse and the Estate He Sold
September 21, 2026 · 8 min read · By Onias Derilus, Broker
Pat Riley sold his Gables Estates mansion in Coral Gables for $16.75 million in 2012 and moved into a penthouse at Apogee on the southern tip of Miami Beach for a reported $11.75 million. Here is what reporting says about both homes, why the move made sense, and what Coral Gables and South Beach cost today.
Where does Pat Riley live? The Miami Heat president lives in a penthouse at Apogee, a condo tower at South Pointe on the southern tip of Miami Beach. He moved there in 2012 after selling his waterfront mansion in Gables Estates, the guarded Coral Gables enclave, for $16.75 million. Reports put the penthouse price near $11.75 million. So the Coral Gables chapter that most searches turn up ended more than a decade ago. Here is what public reporting says about both homes and the markets around them.
Key takeaways
- South Pointe, Miami Beach: a penthouse at Apogee, a 22-story tower at the bottom of South Beach with views of the bay, the port and the ocean.
- Reported price and year: about $11.75 million in 2012, per Hoopsfix and Miami Condo Investments; SLAM rounded it to $11 million.
- Reported size: outlets gave 5,325 to 6,200 square feet, four bedrooms and 10-foot ceilings on the 22nd floor.
- The home he sold: a 13,000-square-foot Mediterranean mansion on two bayfront acres in Gables Estates, bought for $6.3 million in 1996 and sold for $16.75 million in 2012.
Where does Pat Riley live in Florida?
Riley has run the Heat's front office since 1995, and he has lived in Miami-Dade County the whole time. For 16 years that meant Gables Estates, a gated waterfront community in Coral Gables. Lots there run to two acres, and homes face Biscayne Bay. The Real Deal and the Miami New Times reported that he and his wife, Chris, bought there in 1996 for $6.3 million.
In early 2012 they sold. HuffPost and the Miami New Times put the price at $16.75 million. Miami Condo Investments described the buyer as an entity that wanted the land. That proved right. In February 2013 The Real Deal and HuffPost reported the new owner's plan. It was to tear down the house and build a larger one on the two-acre bayfront lot.
Riley's next home was a condo, and a big one. SLAM, citing local reporting, said he moved into a penthouse at Apogee in Miami Beach for about $11 million. Hoopsfix gave the figure as $11.75 million. Apogee is a 22-story tower of about 67 units at South Pointe, the neighborhood at the southern end of South Beach. It sits a few blocks from the cruise channel and the beach.
Pure Equity does not publish private addresses or unit numbers. Our Gables Estates community page shows what is for sale in his old neighborhood. The Miami Beach city page covers South Pointe and the rest of the island.
Inside the reported Apogee penthouse
The reporting on the penthouse comes from 2012 and varies a little. Hoopsfix described a four-bedroom, 5,325-square-foot unit. Miami Condo Investments described a 6,200-square-foot penthouse on the 22nd floor with 10-foot ceilings. The views run 180 degrees across the bay, the port and the ocean. The gap likely comes from interior versus total area, which is common in condo listings. We give the range.
Apogee itself dates to 2008 and was developed by the Related Group. Its units are large by South Beach standards, with private elevator entries and wide terraces. The building has three penthouses. Miami Condo Investments has noted that one of them belongs to Riley when covering the sale of another.
There is no reporting of a sale since. Riley's penthouse has not appeared on the market, and no outlet has tied him to a newer purchase. As of September 2026, the Apogee unit is the only Florida home on the public record for him.
The Gables Estates home Pat Riley sold
The Coral Gables house is the one people remember, and the numbers on it are solid. The Miami New Times described a 13,000-square-foot Mediterranean-style mansion on nearly two acres with about 900 feet of water frontage on Biscayne Bay. A separate Real Deal figure put the interior at 12,856 square feet. Riley bought it in 1996 for $6.3 million and sold it in 2012 for $16.75 million. That is a gain of more than $10 million over 16 years.
The buyer's plan to demolish it says something about Gables Estates. In that community the land is the asset. A two-acre bayfront lot with a deep-water dock is rarer than a large house, and buyers at that level often prefer to build new. HuffPost and The Real Deal both reported the teardown plan in 2013, and it fits a pattern seen on other lots in the enclave since.
Why Pat Riley chose South Beach
Riley has not given interviews about the move, so the reasons come from the circumstances. He and Chris had lived in the Gables Estates house since their children were young. By 2012 the couple were empty-nesters in their sixties. A 13,000-square-foot house with two acres of grounds is a lot to run. A penthouse with building staff is not.
The location also fits his job. South Pointe is about 15 minutes from the Kaseya Center, where the Heat play, across the MacArthur Causeway. Gables Estates is farther and slower, through Coral Gables traffic. For a man who still goes to the office and to games, the commute matters.
The timing is worth noting too. Riley sold in early 2012, months before the Heat won the first of back-to-back championships. He bought at Apogee at what turned out to be near the bottom of the South Beach condo market after the 2008 downturn. Both moves look well timed in hindsight.
Where else does Pat Riley live?
Riley spent the 1980s coaching the Los Angeles Lakers and the early 1990s with the New York Knicks. Reporting over the years has described time in Malibu, California, and he has been a familiar figure there since the Showtime era. We have not seen a current record of a California home in his name. So we treat that as history rather than a confirmed second residence.
What the record shows is a Miami-Dade resident for 30 years, first in Coral Gables and now in Miami Beach. His public life, from the Heat's front office to the team's championship parades down Biscayne Boulevard, has happened here.
What homes near Pat Riley cost
The two markets in this post sit at different points. Coral Gables had about 440 active listings in our MLS feed as of September 2026. The median list price is near $2 million, and homes average about 130 days on market. Gables Estates sits far above that median. Bayfront lots there have sold in the tens of millions in recent years, and Riley's 2012 price would not buy one today.
Miami Beach had about 2,500 listings at a median near $650,000. That median covers thousands of condos across the island. South Pointe penthouses at Apogee, Continuum and the newer towers list well into eight figures. Our penthouses hub and oceanfront condos hub cover that top tier across South Florida.
For the wider picture, the Miami-Dade County page compares Coral Gables, Miami Beach and the mainland. The luxury homes hub lists sales above $1 million.
Frequently asked questions
Where does Pat Riley live now?
In a penthouse at Apogee, a condo tower at South Pointe in Miami Beach. He moved there in 2012 after selling his Coral Gables mansion. No outlet has reported a move since.
Where in Miami Beach does Pat Riley live?
At South Pointe, the neighborhood at the southern tip of South Beach, in the Apogee building. The tower faces the cruise channel, Fisher Island and the ocean. We do not publish unit numbers.
Where does Pat Riley live full time?
Miami Beach. Riley still runs the Heat's front office, and the Apogee penthouse is his only reported home. Earlier reporting placed him in Malibu during and after his Lakers years, but no current California home is on the record.
How much did Pat Riley pay for the Miami Beach penthouse?
About $11.75 million in 2012, per Hoopsfix and Miami Condo Investments. SLAM reported the figure as $11 million. He sold the Gables Estates house the same year for $16.75 million.
Does Pat Riley still own the Coral Gables house?
No. He sold it in 2012. The buyer planned to demolish it and build a larger home on the two-acre bayfront lot, per HuffPost and The Real Deal. The house he owned for 16 years is gone.
Can you buy a home in Gables Estates?
Yes, though rarely. Gables Estates is a guarded community of about 200 waterfront lots in Coral Gables. Homes there trade on the open market when they come up. Our Gables Estates page lists current inventory.
If you own a home in Coral Gables, Miami Beach or anywhere in Miami-Dade County, request a free home valuation from Pure Equity. It tells you what the home is worth now. Buyers can browse Coral Gables listings or see luxury homes across South Florida. For the rest of the Heat's front office and bench, read where Erik Spoelstra lives and where Alonzo Mourning lives.
Sources
- Miami New Times, Pat Riley sells his Coral Gables mansion for $16.75 million
- HuffPost, Pat Riley's $16.8 million Coral Gables mansion will be demolished
- Hoopsfix, Pat Riley's $11.7 million Miami penthouse apartment
- Miami Condo Investments, Apogee South Beach penthouse listing noting Pat Riley's ownership
Based on publicly reported information; details may change and are not independently verified by Pure Equity. We do not publish private addresses.
