Rick Pitino's Miami Home Reduced to $13,900,000

The Miami home of Rick Pitino, former NBA New York Knicks coach, and coach of the University of Louisville basketball team since 2001, has been on the market for sale since mid-September 2008, with no takers at the $14,900,000 asking price. Mr. Pitino recently reduced the price by $1,000,000, hoping to bring in a buyer for his ultra-luxury mansion located on Indian Creek, one of Miami’s most exclusive communities.

The island has only 40 waterfront properties, and is an incorporated city with it’s own police force, private country club and golf course. A public safety department was created by the city in 1994, in order to provide security and medical services to this entirely exclusive and private community.

Mr. Pitino’s home is a stunning 2 story Mediterranean waterfront mansion, situated on a 53,696 square feet lot, with 7,295 square feet of interior living area, featuring 5 fabulous bedroom suites, 6 and one half bathrooms, a state of the art kitchen, a gym, and open balconies and terraces with gorgeous panoramic views.

The property next door was also recently for sale for $12,900,000. The slightly larger home, with 7,888 square feet of interior living space, is situated on a 53,736 square feet lot. At the end of March, the property was sold –- for $9,300,000.

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