October 28, 2021


Travel-Lickin' Good

Argentine Developer and Hotelier Alan Faena Sells Miami Seaside Household for $13.3 Million

A historic Mediterranean Revival mansion in Miami Beach front, Florida, owned by true estate developer and hotelier Alan Faena has just offered for $13.3 million just after becoming on the market for about a yr.

The house was shown for $16.5 million in November 2019 by way of Oren Alexander of Douglas Elliman. The rate was lowered to $14.5 million this July and all over again to $12.8 million in September, listing data present.

The sale shut earlier this month for $13.3 million, and a Delaware-registered restricted liability business was shown as the customer, in accordance to assets documents accessed by way of PropertyShark.

Mr. Faena, 57, a fashion designer-turned-developer acquired the assets for $10.3 million in 2014, residence records present. His organization, Faena Team, is creating a $1 billion waterfront megaproject in Miami Seashore, which involves a lodge, an arts center, and a residential tower. He experienced a related enhancement in his native Buenos Aires, Argentina.

Mr. Faena could not be quickly achieved for comment. Mr. Alexander, the listing agent, declined to comment on this sale.

The assets has 9,605 sq. toes of dwelling space with 9 bedrooms and 9 loos spanning the most important mansion and a visitor dwelling. The primary mansion, circa the 1920s, retains numerous initial aspects such as pecky-cypress woodwork, painted ceilings, and baronial fireplaces, according to the listing.

The just one-acre residence is landscaped with lush tropical trees, rolling lawns and a swimming pool. It has direct h2o entry from the personal dock, the listing reported.