The Real Deal Miami

Waterfront Miami Beach home sells for $9.35M

10,500 sf property last sold in 2012 for just more than $3M

September 16, 2015 12:00PM
By Katherine Kallergis

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401 East Rivo Alto Drive in the Venetian Islands

401 East Rivo Alto Drive in the Venetian Islands

A recently redeveloped Miami Beach home on Rio Alto Island sold to Richard Comras for $9.35 million, The Real Deal has learned. 

Julian Johnston and Dora Puig

Julian Johnston and Dora Puig

440 Somma LLC, an entity tied to Miami Beach-based Aquablue Group, sold the 10,500-square-foot property, also known as Villa Swan, listing agent Julian Johnston told TRD. Johnston, of Calibre International Realty, said the waterfront home was completed in 2014.

Dora Puig, owner and broker of Luxe Living Realty, represented Comras, whose brother Michael was part of a partnership that sold an entire block of Lincoln Road for $370 million last month.

The seven-bedroom, seven-bathroom and one-half home at 401 East Rivo Alto Drive, features Italian furnishings, state-of-the-art lighting, high ceilings and natural light. The property also includes a bayfront pool, Ipe wood dock and a courtyard entrance.

It last sold in 2012 for $3.17 million, according to Miami-Dade County property records. The AquaBlue Group, led by Philippe Harari, is a boutique design and development firm. In its portfolio are single-family homes and a boutique South-of-Fifth office project, SoFi Executive, according to AquaBlue’s website.

The sale has not yet cleared county records.