The Real Deal Miami

Asking price for Miami Beach mansion cut by $4.5M

A French banking agency seized the bayfront residence from convicted tax evaders Mauricio Cohen Assor and his son
December 03, 2016 09:45AM

5930 North Bay Road, Miami Beach

5930 North Bay Road, Miami Beach

A bank regulatory agency in France knocked $4.5 million off the asking price for a Miami Beach mansion that the agency took from developers found guilty of tax evasion.

Realtors Jill Eber and Jill Hertzberg have the listing for the nine-bedroom residence known as Whitehall Mansion. Its new asking price is $25 million, down from $29.5 million. The mansion at 5930 North Bay Road spans 13,637 square feet and features a helipad and 200 feet of frontage on Biscayne Bay.

French banking agency CDR Creances S.A.S seized Whitehall Mansion and a Fisher Island condominium from Mauricio Cohen Assor and his son Leon Cohen-Levy, whom a federal court convicted in 2011 of failing to disclose their ownership of the properties and other assets for tax purposes.

CDR also has re-listed the three-bedroom condo at 7213 Fisher Island Drive with an asking price of $12 million, down from $14 million. Jill Eber and Jill Hertzberg are the listing agents for the condo, too.

CDR is trying to recover $180 million the agency claims the Cohens borrowed from a French bank and never repaid. The bank went out of business.

Law firm Mossack Fonseca created offshore companies to hide the Cohens’ ownership of assets including luxury cars and a helicopter. [Miami Herald] Mike Seemuth

Correction: A previous version of this article incorrectly stated that the mansion listing received no offers after being listed in October 2015. It did receive offers, though none culminated in a sale.