Former Miami Heat guard Victor Oladipo, 31, has sold his Miami Beach mansion for $9 million, according to reports. In June, the seven-bedroom, seven-bathroom mansion was first listed for $9.995 million on the man-made Hibiscus Island, a guard-gated community in Biscayne Bay and only accessible by the MacArthur Causeway.
In July, the Heat traded Oladipo, a 2029 second-round draft pick, and a 2030 second-rounder to the Oklahoma City Thunder for cash. The two-time All-Star must have known about Miami’s trade plans as early as the 2023 NBA Finals. Anyway, the nearly 6,500-square-foot, glass-covered property has a light-filled open floor plan.
Moreover, the mansion also has a larger footprint than typical homes on the island, according to listing agent Liz Hogan of Compass. Of course, the multimillion-dollar purchase marks the highest non-waterfront sale on the enclave.
“The sale indicates a strong and growing demand for luxury real estate in the area,” Hogan said. “More and more high-end buyers and developers are coming to the neighborhood leading to increased property values and further development.”
Former Miami Heat guard Victor Oladipo sold his Miami Beach mansion for $9 million after the Heat traded him to the Oklahoma City Thunder
Furthermore, Victor Oladipo said he purchased the mansion for $7.75 million in 2021, after his trade from the Houston Rockets. The 6-foot-4 guard decided to buy the home because of its location about three miles from the Miami Heat arena, he said.
First built in 2020, the mansion includes a high ceiling, a living area with a statement wood wall, a game room, a staircase, a game room, and a primary bedroom suite with a bathroom and two walk-in closets.
Additionally, the home offers a modern kitchen with state-of-the-art appliances and custom cabinetry and a living area with a statement wood wall. The former Heat guard may have hired a private chef at some point.
In the backyard, there’s an inground pool, large space for pets or parties, and a private guest house, where Oladipo added a $50,000 recording studio. The Maryland native reportedly used the studio to record his next album.
More importantly, Hibiscus Island offers its residents a range of amenities, including a 24-hour police officer stationed at the main entrance, playgrounds for children, a waterfront park, and tennis and basketball courts. For those who can afford to live there, it’s paradise as long as the hurricanes stay away.
In Miami Beach and the Barrier Islands, single-family homes sold for an average $5.44 million in the first quarter, up 24.2% from the same time last year, per The Wall Street Journal. However, the number of sales fell about 55.3% during the same period, according to real estate company Douglas Elliman.
As of September 2023, Hibiscus Island homes are selling for a median price of $11.6 million. That’s a 24.5% increase compared to last year. In fact, Oladipo’s sale was below market value. Based on the number of games he missed due to injuries, he will likely never play for the Miami Heat again.