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Former Heat guard Victor Oladipo sells Miami Beach mansion for below market value

Former Miami Heat guard Victor Oladipo, 31, has sold his Miami Beach mansion for $9 million. The mansion, located on the man-made Hibiscus Island in Biscayne Bay, was listed for sale in June for $9.995 million.

Oladipo purchased the mansion for $7.75 million in 2021 after being traded from the Houston Rockets to the Heat. He chose the house because it is only three miles from the Heat’s home court.

The mansion spans nearly 6,500 square feet and features seven bedrooms, seven bathrooms and an in-ground pool. Oladipo also added a $50,000 recording studio in the backyard.

Oladipo was traded in July 2023 to the Oklahoma City Thunder. He missed most of the season due to injury, so he will likely never play for the Heat again.

Victor Oladipo sells Miami mansion for $9M

In Miami Beach and the barrier islands, the average sale price of a single-family home in the first quarter was reportedly $5.44 million, up 24.2 percent from the same period last year. However, the number of sales fell about 55.3 percent during the same period.

As of September 2023, the median sales price for homes on Hibiscus Island was $11.6 million. This is a 24.5% increase from last year. Oladipo sold for less than market value, which could be due to the impact of his impending departure from the Heat.

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