Financially troubled Miami Heat legend Glen Rice and his ex-wife, former “Real Housewives of Miami” standout Cristy Rice, are engaged in a real estate race against the clock.
They are desperately trying to sell their downtown Miami condo before the highrise’s commandoes seize it.
The Rices, who are co-owners of a two-bedroom crib on the 27th floor of the Neo Vertika building at 690 SW First Ct., listed the place for sale a year ago for $460,000, records show.
But the Rices have had to lower the price practically on a monthly basis since then, according to MLS listings. Their latest asking price is $330,000, for a condo bought 11 years ago for $317,000.
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At the time, in 2006, Rice was just two years into retirement after 15 seasons in the NBA — where it is estimated he made $35 million. He was voted to the All Star Game three times and played forward for the Heat from 1989 until 1995.
Now, however, Rice, 49, is so broke after losing his fortune in bad investments, his contentious divorce from Cristy and paternity lawsuits that a Miami court recently agreed to reduce his child support payments to a former galpal to $600 from $1,500 a month.
The paperwork in that case described how Rice makes a few thousand dollars a year from appearances, memorabilia-signing events, basketball camps and tutoring well-to-do kids in basketball.
Which could explain why he and Cristy are accused of being more than two years behind in their $675.50 or so monthly fees at the edgy-looking Neo Vertika.
At this point, the condo association’s complaint says the Rices owe nearly $20,000 in unpaid fees, interests and penalties.
The association has asked the court to order the condo sold in foreclosure.
Neo Vertika attorney Carlos Triay, did not respond to an email requesting comment. The Rices were unavailable for comment as well.