The Real Deal Miami

Attorney Jim Ferraro lists Coral Gables triplex penthouse: $10.5M

Mansion-sized penthouse could also be marketed as two units

August 12, 2016 12:00PM
By Katherine Kallergis

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Attorney Jim Ferraro has listed his Coral Gables penthouse, an ornate, triplex unit at the Segovia Tower, for $10.5 million.

Ferraro, a nationally recognized mesothelioma attorney, decorated the unit with artwork and antiques he’s collected from around the world, listing agent Saddy Delgado of ONE Sotheby’s International Realty told The Real Deal.

Ferraro bought the two-story penthouse and the 15th floor unit below and combined the two with a staircase, Delgado said. Now that he’s moving full-time to Fisher Island (he bought a penthouse at the newly completed Palazzo del Sol for $21.5 million earlier this year), he’s looking to sell his Coral Gables home, a nearly 8,500-square-foot condo.

The combined unit has eight bedrooms, 12 bathrooms, a wine cellar, library, billiard room, media room, summer kitchen, gym, two kitchens, marble fireplace and five parking spaces. Coastal Construction did the buildout with interiors by Jeff Howard of the Howard Design Group. Delgado is listing the unit with ONE Sotheby’s agent Lourdes Alatriste.

Ferraro probably put about $1 million into the upgrades and furnishings, Delgado said. Property records don’t show how much he paid for the units.

“We’re marketing it to the local buyer because I think the Gables caters to that,” she said.

It could also be marketed as two units. “The way it was built out, it’s probably more unique the way it is. But eventually if it doesn’t sell, that’s what we would consider doing,” Delgado told TRD. “It’s just so perfect with the staircase.”

Ferraro has been described as a “penthouse guy,” and in October listed an older Fisher Island penthouse he owns for $13.9 million.