Pacers President Kevin Pritchard picks up a Florida tear-down with plans to redevelop

Kevin Pritchard, president of the Indiana Pacers, has paid $1.8 million for a waterfront home in Florida that he plans to replace with a more modern build.

Oct. 30, 2018 12:10 PM PT

Indiana Pacers President Kevin Pritchard has big plans in Florida, where he recently grabbed a waterfront estate in North Bay Village for $1.8 million.

The lot holds a 2,000-square-foot home built in 1951, but Pritchard plans to raze it in favor of a 5,500-square-foot pad with a rooftop deck to take advantage of the Biscayne Bay views.

Modern architect Max Strang is handling the design, which includes five bedrooms, a movie theater, gym and wine cellar. The home will also hold a two-car garage.

According to the Multiple Listing Service, the property listed in June for $1.899 million.

Pritchard, 51, spent four seasons as a player in the NBA before becoming the Portland Trailblazers’ general manager in 2007. Last year, he took over as Pacers president after Larry Bird resigned.

Two years ago, he sold his lakefront villa in Oregon for $2.3 million, the Oregonian reported.

Bragi Sigurdsson of Douglas Elliman held the listing. Brett Harris, also with Douglas Elliman, represented Pritchard.

jack.flemming@latimes.com | Twitter: @jflem94