The Real Deal Miami

A-Rod’s ex-wife sells waterfront Miami Beach home

Buyer also owns 7,000 sf property next door, bringing total to 16,000 sf

January 08, 2016 11:15AM
By Katherine Kallergis

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295 North Coconut Lane and A-Rod

295 North Coconut Lane and A-Rod

Cynthia Rodriguez, ex-wife of New York Yankees star Alex Rodriguez, has sold her waterfront Palm Island home in Miami Beach after putting it on the market in September.

Miami-Dade County records show that Rodriguez sold the 4,535-square-foot home for $5.58 million, or $1,230 per square foot. Diane Dreyfuss Owade, who owns the home next door, purchased Rodriguez’s property at 295 North Coconut Lane.

A-Rod’s ex-wife paid $2.87 million for the 8,828-square-foot lot in 2013, gutted and added about 2,000 square feet to the house – bringing the total to 4,535 square feet. Originally built in 1954, the home has four bedrooms, five bathrooms, a pool, dock and modern, white marble kitchen. It also features a second-story deck that overlooks the ocean, hot tub and master bathroom, also with ocean views.

The buyer, Owade, already owns the adjacent 7,000-square-foot lot at 291 North Coconut Lane, bringing her total to 15,828 continuous square feet on Palm Island, which is located off the MacArthur Causeway. The island is home to a number of multimillion-dollar properties, including Al Capone’s former mansion.

Rodriguez put the Miami Beach home on the market in September for $7.15 million and dropped the price twice to $6.45 million before it sold on Wednesday. Cynthia Gort of Cervera Real Estate was the listing agent, according to Realtor.com. Julian Cohen of Compass represented the buyer. Cohen told The Real Deal that he brokered the sale next door, as well, and that the buyer approached him on Instagram.

Meanwhile, Alex Rodriguez, who’s reportedly an active investor in the multifamily market, reserved a penthouse unit at GranParaiso in September 2015 in Miami’s Edgewater neighborhood. A purchase price was not disclosed, but similar units sell for more than $4 million. In 2013, A-Rod sold his 20,000-square-foot Miami Beach mansion on North Bay Road for $30 million.

The 14-time MLB All-Star, who admitted to using steroids in 2014, has a reported net worth of $252 million. Cynthia filed for divorce in 2011, citing in court documents “the husband’s extramarital affairs and other marital misconduct,” according to the Huffington Post.

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