Hedge fund executive Bruce McMahan just chopped the asking price for his Fisher Island condo by $4 million, lowering the oceanfront pad’s listing price to $16.9 million.
Located on the ground floor at 7413 Fisher Island Drive, McMahan’s unit measures 7,696 square feet and houses five bedrooms, 5.5 bathrooms, a custom-built wood bar and its own infinity-edge pool on the terrace.The new asking price breaks down to just below $2,196 per foot.
The condo is decked out to the nines with ritzy finishes like Jerusalem stone floors and Italian rose marble, as well as hand-painted murals on several walls and ceilings. It also boasts 5,300 square feet of terrace space that looks out over the ocean. He’s the CEO of Centaur Performance Group, an investment firm formerly known as the Argent Funds Group.
According to a New York Times article from 2009 when McMahan first listed the unit for $30 million, the hedge funder almost exclusively used his Fisher Island pad to entertain business associates.
Coldwell Banker’s The Jills team came into the picture in October of last year with a newly reduced asking price of $21 million. The agents announced this most recent price drop Friday.
Fisher Island is no stranger to pricey homes, with units in the recently completed Palazzo Del Sol project trading for upwards of $30 million. Attorney Jim Ferraro set a price per square foot record of $3,200 with his $21.5 million purchase of a condo there.
County records show McMahan paid $5.5 million for the unit when it was first built in 2002. He later transferred ownership to the National Cristina Foundation, a nonprofit that donates technology to disabled children that he co-created in the name of his daughter, Cristina McMahan, who suffers from cerebral palsy.