*You may not have heard about it back in 2010 when it happened, but the Miami Heat bought the home of former point guard Tim Hardaway to help him clear a debt to the IRS. OK jump ahead to 2013 and the team just sold the house and made a very handsome profit to boot!
Jose Lambiet’s Gossip Extra is reporting that Miami Heat Limited Partnership, the company fronted by cruise mogul Micky Arison that owns the back-to-back NBA champs, sold the home earlier this year for $2.3 million!
Records show the company bought the house from Hardaway, one of the team’s highest profile players ever, in September 2010 for $1.98 million.
Hmm, that would be a 16 percent profit — DURING A BAD ECONOMY!
And this, despite the fact that the house was in need of so much updating that it lingered on the market for three years.
“It was a tough sale,” said Pinecrest Realtor Richard Shapiro, who showed the mansion to several clients. “You could tell it was built for a basketball players. There’s a regulation-sized basketball court in the yard and closets the size of a two-car garage. It’s a huge house.”
Records show it’s 7,540 square feet on nearly two acres of land, with giant electric gates and a 6-foot coral rock wall.
There’s also a six-car garage, 20-foot ceilings, a heated pool and a movie theater.
Hardaway, 47, who played in Miami for six seasons starting in 1995, got to live in his old homestead while he cleared his finances but I’m told he finally moved out this summer.
Hardaway, who’s had a history of bad financial moves, had a $120,000-IRS lien on the house for $120,000 in unpaid taxes.
In case you’re wondering why you didn’t hear about this until now, via an unusual arrangement, the Heat agreed to buy the house to spare Hardaway the embarrassment of losing it in a foreclosure.
Meanwhile, team attorney Alan Fein has not responded to a request for comment about the sale.
For MORE photos of the ex-Hardaway house, go the Gossip Extra.