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Entity linked to accounting boss sells waterfront Key Biscayne house for $25M
Property last sold for $7.2M in 2009
The head of an accounting and business valuation firm is linked to the sale of a waterfront home in Key Biscayne for $24.5 million.
Records show Olive Developments, a Florida entity managed by Paul DeStefanis and Darren Docwra, sold the house at 760 Mashta Drive to Florida Sunshine Realty, a Delaware corporation. The true buyer in the off-market deal is unknown.
DeStefanis heads Advanced Business Valuations, a Miami-based company that specializes in business valuations and litigation support services, according to its website. He was previously managing director of the Americas Group, a Naples-based consulting firm that develops strategies for U.S. firms to enter Latin American markets, its website shows.
Docwra is the COO of Islandbridge Properties, a U.K.-based developer, LinkedIn shows.
Olive Developments was previously managed by Ricardo J. Martinez, according to state records. Records also show that Olive Developments previously bought the adjacent house at 750 Mashta Drive for $6 million in 2010, and sold it for $9.1 million in 2015.
Olive Developments bought the 760 Mashta Drive house for $7.2 million in 2009, records show. Built in 2001 on 0.3 waterfront acres, the home spans 6,400 square feet, with six bedrooms, six bathrooms, one half-bathroom and a pool, according to property records. Property records show a dock repair was done in 2015, but otherwise no other renovations were filed.
The deal marks the priciest residential sale in Key Biscayne so far this year. In December, Gibran Chapur, a son of one of Mexico’s wealthiest families, flipped a waterfront home for $10.5 million, less than a year after buying it for $10.1 million. In August, One Sotheby’s International Realty agent Alina de la Vega Maclean and her husband sold their waterfront home for $11.5 million. In June, spec developers Sergio and Remir Fernando Guardazzi sold a waterfront spec house to an entity linked to Peruvian executive Victor Manuel Matta Curotto for $17.5 million.