According to The Wall Street Journal, Mr. Wade purchased the property in 2010 for $10,645,000 and renovated it. The approximately 12,000-square-foot property is located on North Bay Road, a street frequented by business executives and celebrities, and features a wine room, game room, swimming pool, home theater, and outdoor basketball court.

Mr. Wade listed the property just a few months after playing his final game for the Miami Heat, the team he spent the majority of his tenure with, in 2019. Recently, he and his wife, the actress Gabrielle Union, purchased a home in Los Angeles. Since then, the price has been reduced multiple times; the most recent asking price was $26.5 million.

Brett Harris of Douglas Elliman represented both the buyer and the vendor in this transaction. He affirmed that the transaction had closed but declined further comment.

Mr. Wade and Ms. Union wed in 2014 and have a daughter together named Kaavia. According to public records, the couple has since acquired a $17.9 million mansion in the Los Angeles neighborhood of Hidden Hills. A representative for the couple did not respond promptly to a request for comment.

Mr. Wade is also a minority owner of the Utah Jazz after purchasing a stake in the franchise this year.