The Miami Heat’s newest player didn’t venture far from the “home of the Heat” for his new multimillion-dollar mansion.

Luol Deng, British pro baller-turned-Miami Heat small forward, paid $4.6 million for a renovated five-bedroom, four-bath mansion at 5925 N. Bayshore Drive, just minutes from the American Airlines Arena.

The 29-year-old’s new home is a plush historic waterfront estate built in 1928 in Miami’s quaint Morningside community north of downtown. Set on 0.7 of an acre, it features hardwood floors, two-story guesthouse and lush landscaping with vast manicured lawns. A covered patio facing the open water and large dock with boatlift help residents take advantage of the property’s direct frontage to Biscayne Bay, offering unobstructed views and 107 feet of waterfront on Biscayne Bay.

“I know that all of Miami is extremely excited to have Luol join the Heat, and it’s wonderful that he has chosen this exceptional home as his residence—and one that is so close to his new ‘office,’ ” EWM/Christie International broker Nelson Gonzalez, who represented the seller, announced Tuesday. “This is a fitting example of the melding together of Miami’s future as well as its past.”

Deng signed a two-year, $20 million deal with the Miami Heat in July. Until then, he was a free agent with a 10-year NBA background. The Phoenix Suns drafted him in 2004 and traded him to the Chicago Bulls, where he played for nine seasons and served as co-captain.

At Duke University, Deng led all rookies in scoring, rebounding and field goals. And in high school, he was considered the second most promising senior player in the country after LeBron James.

The Heat signed Deng to strengthen its roster and replace James, who left for Cleveland in July.

Shortly after inking the deal, Deng snapped up the $4.6 million estate less than four miles from the American Airlines Arena. He bought the 3,375-square-foot mansion from Saad Mahmoud, according to public records, paying about $1,363 per square foot. Douglas Elliman broker Oren Alexander represented Deng.

The property sold for about $1.03 million in June 2001.