The Real Deal Miami

Venezuelan yachter drops $5.8M on Murano at Portofino townhouse

Seller heads U.S. Medical Management, a Michigan-based medical services company
By Katherine Kallergis | May 08, 2017 05:30PM

Murano at Portofino townhouse. Inset: listing agents Dustin Nero and Jamen Krynicki

A Venezuelan buyer with a penchant for yachts paid $5.8 million for a townhouse at Murano at Portofino in Miami Beach.

The seller is Murano Real Estate Holdings LLC, a holding company owned by Mark Mitchell, CEO of U.S. Medical Management, a Troy, Michigan-based medical services firm. Property records show the LLC sold unit TH-M1 at the condo complex at 1000 South Pointe Drive in the South-of-Fifth neighborhood of South Beach to a Delaware company.

Dustin Nero and Jamen Krynicki of Douglas Elliman brokered the sale. They listed it in mid-April for nearly $6.2 million, and sold it about three weeks later, Nero told The Real Deal. He declined to name the buyer or seller, but said the buyer is from Venezuela and was attracted to the unit because of its proximity to the Miami Beach marina, where he has a yacht.

The three-story loft is one of four at Murano. It has nearly 3,000 square feet, three bedrooms, Chicago brick walls, a two-car garage and a 150-bottle wine room, according to the listing. It sold for more than $1,940 per square foot, which is the second highest price per square foot at Murano, Nero said.

“We kept the unit open every day until it closed, and were able to capture five to 10 people a day to come in and see the unit,” he said. “Having the property open allowed us to capture the buyer as well.”

Records show the townhouse last sold for $4.53 million in 2013. It was delivered in 2002.

In March, a non-oceanfront unit on the 26th floor of the building sold for $6 million/$1,780 per square foot.