Dwyane Wade's Slam-Dunk Home Deal

Dwyane Wade has scored a house on Miami Beach's La Gorce Island.

Dwyane Wade of the NBA's Miami Heat closed Monday on a six-bedroom Miami Beach mansion that he bought sight-unseen for more than $7 million under the asking price. Wade purchased the home for $10.65 million -- down from the $17.9 million the sellers originally wanted -- Wade's agent, Gloria Salom of Beachfront Realty told HousingWatch.

The Mediterranean-style home (pictured at the bottom of this post) has more than 13,000 square feet of living space and comes with a one-bedroom guesthouse, an air-conditioned doghouse, two cabanas and an outdoor jacuzzi that sits with a view of 150-plus feet of bay frontage.
There's also a tennis court that he's planning on converting to a basketball court, reports the "Wall Street Journal."

"The home is absolutely gorgeous. Seeing everything it is beyond what one can imagine," Salom told HousingWatch. She says that when she first saw the home, which sits on one acre, she knew this was the one for Wade, who had previously viewed more than 50 homes up and down the coast.

"We would leave at 9 o'clock in the morning and come back at 9 o'clock at night and be exhausted. They were all beautiful homes, but they didn't fit his needs and his style," Salom said.

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With this house, "You can't see the home from the street, it is gated. All you hear are the trees and birds from the water." And it has been remodeled. The sellers gutted it two years ago, she said.

This home was not officially on the market when Salom previewed it for Wade, who was in Chicago at the time. He agreed to purchase it without visiting the property.

"That is amazing trust he has in me," she said.

Ralph Arias and Mirce Curkoski of One Sotheby's International Realty with Carlos Justo, represented the seller, insurance agent Mel Harris. The "Miami New Times" has pictures, but Salom says the exterior of the home has been updated since those pictures were taken.

Wade's home purchase marks something of a real-estate rebound for the NBA star. Earlier this year HousingWatch reported that the NBA guard dropped the price of his 9,000-square-foot, six-bedroom contemporary colonial. It was originally listed for $8.9 million and eventually was marked down to $4.599 million, according to Luxist.

Wade's new house is near the new $12.5-million home of his teammate Chris Bosh, who scored a his deal at about a 25 percent discount from its $16-million listing.

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Comments may refer to photos no longer available for viewing at this site.

With spring home buying season around the corner, will you consider buying?
Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage.	3077 (20.4%)
No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment.	5156 (34.1%)
No, I'm holding out for an even better deal.	2856 (18.9%)
Nope. It's a renter's life for me.	4013 (26.6%)

With spring home buying season around the corner, will you consider buying?

Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage.

3077 (20.4%)

No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment.

5156 (34.1%)

No, I'm holding out for an even better deal.

2856 (18.9%)

Nope. It's a renter's life for me.

4013 (26.6%)

Reader Comments (22)

by Bunnie - December 4th 2010 @ 8:43PM

Perhaps these athletes who buy these huge homes could set up a few rooms for the less fortunate - the homeless, the jobless, those who don't have enough money to put food on the table for their kids.

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by StraightWithYou - December 4th 2010 @ 9:11PM

This is part of the problem with these uneducated people buying expensive homes, cars, boats, etc, etc and by the time they retire, they don't even know where the money went and are broke. Just look at some of these sports players

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by keith - December 4th 2010 @ 10:11PM

If you know anything about Wade, you should know he is one of the few that actually give back, I live in Miami and he is constantly on the news for his charitable work for this community.
Go Heat

by . - December 5th 2010 @ 2:07AM

Perhaps the "fat cats" in Washington could do the same,since they are the ones with the most power and influence.

by Tina - December 6th 2010 @ 8:16AM

Shows how educated you are. Professional players don't get picked off the streets. They are picked from colleges by profesional scouts. I think you wish you had the money he had.

Would you do it? Do you do it now? Share what you have with the poor?

by Delma - December 4th 2010 @ 9:30PM

I hope all of his hired help will be AMERICANS or documented workers. Please Mr. Wade use E-Vertify when you hire someone to work for you. This goes for Chris Bosh and the rest of the Heat players. Thanks

by JF - December 4th 2010 @ 10:27PM

Very glad to see that Carlos Justo was part of the transaction. He's weathered the hard times and his perspective on life is now balanced with peace and consideration. Hope D'man enjoys the home!

by leon - December 4th 2010 @ 11:16PM

Must be nice to be stinking rich

by arthur lee davis - December 5th 2010 @ 9:17AM

The color of HATE sure does run deep . Like to the core of a person`s soul . A counterproductive form of destruction which spreads like an
out of control wild FIRE .---------------HATRED, WHAT IS IT GOOD FOR ?

by James L Weeks - December 5th 2010 @ 2:09AM

I comment Dwyane Wade home purchase.
I comment his giving back to the community.

Make sure you save and invest wisely for the future Bra.

Love, peace and happiness.............

by Jeff - December 5th 2010 @ 5:01AM

Easy come, Easy go. He should remember that things are real hard right now. That show he don't know how to use his brain. If he thinks buying a home site an seen is cool. He has alot more to learn in life then just thowing a ball.

by foxmoorfarms - December 6th 2010 @ 9:04AM

Is the dog house for Mike Vick ?

by jc mcneary - December 6th 2010 @ 10:45AM

A wise investment with close to 40% equity built in to the deal. Dewayne can stay in the house for a year or so and sale and make money. Also, Dewayne's income of 17 million justify paying 10 + million on a house. If he doesn't invest in property which is one of the best investments he would have to pay taxes with very little write offs on his income. Kudos to his realestate agent for the lead. Money makes money isn't that the American Dream.

by Charles Tisdale - December 6th 2010 @ 11:39AM

You know, envy and hate are terrible traits. Some of the respondents can hardly put a sentence together, but they seem to have advice for a person who has excelled in life. This was a very good deal and a very smart deal for Dewayne. More power to you brother.

by iamgodzangel - December 6th 2010 @ 11:46AM

I don't understand why people buy a huge home when people lives by themselves. I mean guest room and a gym is cool and a pool but six, seven, eight bedrooms?

by gwen muhammad - December 6th 2010 @ 1:40PM

When you make that kind of money you have to have a good tax right off or give most to charity other then that uncle sam will try to take it so between investsmeets and giving back to the community is what he as to do

by Vic - December 6th 2010 @ 12:21PM

Welcome to the neighborhood! We are close neighbors!!

by C BATES - December 6th 2010 @ 3:36PM

Please people stop hating........His money his decision. What This man does with the money he earns is far from anyones business....If you were in similar situation you (dont LIE) JUST MIGHT DO THE SAME.
If you feel he is over paid(do you blame him?.....come on people cant you for a minute see past your own
jealousness ....... Charles Tisdale I agree with you I WENT BACK AND LOOKED AT SOME OF THE RESPONSES
as my mom always says you must consider the source..............

by Milton - December 6th 2010 @ 2:20PM

Mr. Wade certainly needs the tax break for the wealthy so that he can pay for this modest abode.

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