The Wall Street Journal claims that Mr. Wade paid $10,645,000 for the property in 2010 and made renovations. Situated on North Bay Road, a corridor favored by celebrities and business leaders, the roughly 12,000-square-foot property has a wine room, game room, swimming pool, home theater, and outdoor basketball court.

Shortly after finishing his career with the Miami Heat—the team he played most of his career with—Mr. Wade listed the property in 2019. His wife, the actress Gabrielle Union, and he recently bought a house in Los Angeles. The asking price has been lowered several times since then; the most recent one was $26.5 million.

In this transaction, both the vendor and the buyer were represented by Brett Harris of Douglas Elliman. He confirmed that the deal was closed, but he would not elaborate.

After being married in 2014, Mr. Wade and Ms. Union have a daughter named Kaavia. Public documents indicate that the couple has now purchased a $17.9 million property in the Hidden Hills region of Los Angeles. An inquiry for comment from the couple’s representative was not answered right away.

After investing in the Utah Jazz this year, Mr. Wade is now a minority owner of the team as well.