The Real Deal Miami

Tech mogul sells modern Venetian Islands home

Previous owner built home in 2006

July 02, 2015 04:00PM
By Sean Stewart-Muniz

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The home at 1374 South Venetian Way

The home at 1374 South Venetian Way

A waterfront home on the Venetian Islands just traded for $7.9 million, The Real Deal has learned. 

Located at 1374 South Venetian Way, the residence measures 7,880 square feet and has six bedrooms, seven bathrooms and a half-bath.

The previous owner, web entrepreneur Tom Jermoluk, paid $7 million for the quarter-acre property in 2005. He then built a contemporary-style home a year later, complete with sleek modern finishes such as smart home technology, Brazilian granite countertops and its own elevator.

The master suite has a private terrace, plus his-and-her closets. And for entertaining, there is a wet bar, media room and outdoor pool deck with its own summer kitchen.

Tom Jermoluk at a PBS talk show in 2000

Tom Jermoluk at a PBS talk show in 2000

Nelson Gonzalez of Esslinger Wooten Maxwell was the listing agent. Attempts by TRD to reach Nelson were unsuccessful because he was traveling.

The buyer is unknown, as the sale has not been recorded in Miami-Dade County records.

Jermoluk, the seller, was an executive for tech companies like Netscape, Silicon Graphics and WebMD in the 1990s.

He and his partner Jim Clark founded a Miami-based real estate development company called the Hyperion Group. The group headed the construction of two condominium projects: Blue, in Miami’s Design District, and Marinablue, in downtown Miami. The New York Times reported in 2007 that the projects ran into trouble during the market’s downturn, with buyers upset about undelivered amenities and rising construction costs.