Looking for a six-bedroom, 9,000-square-foot mansion in Pinecrest? You just missed your chance to get your hands on one at below market value.
Miami Heat star Dwyane Wade is gearing up for a year of changes; when the summer months roll around, he is expected to go to the top of the free agent list. But for the spring, Wade’s big news is that he just unloaded his six-bedroom estate in the upscale suburb of Pinecrest, located in South Miami. Condo Vultures reported that Wade took a $1.5 million loss in the sale of the 9,000-square-foot Miami manse.
So here’s how the numbers break down: Officially, the Pinecrest powers-that-be valued Wade’s estate at $2.9 million. The NBA star just closed on the sale of the property for $2.5 million. He bought his dream home—or investment property, whatever the case may be—in 2005 for $3.89 million.
Pinecrest is a bit too far south to be considered one of the trendier parts of Miami in terms of exclusive entertainment options, but considering that there have been 113 closings in the luxe suburb over the last six months who tallied an average sales price of $1.3 million, it certainly makes it noteworthy in terms of opulent Miami estates.