Diamond in the rough? Diamond mogul lands sweet deal on Venetian Islands home

Waterfront home sold for $2.15M under previous selling price

28 West Dilido Drive (Credit: Pixabay Realtor.com)
28 West Dilido Drive (Credit: Pixabay Realtor.com)

Call it a diamond in the rough.

A company controlled by the founder of the Evergreen Life Insurance Group, Allan Rosenzweig, just sold a waterfront home on the Venetian Islands in Miami Beach for a $2.15 million loss.

The buyer of the $7.85 million property was View 28 LLC, led by diamond mogul Fabrice Finkelstein of the Belgian diamond family, property records show. The home at 28 West Dilido Drive spans about 3,700 square feet and sits on a 13,400-square-foot waterfront lot. It was built in 1933.

The recorded selling price is a far cry from its previous price of $10 million in April. Rosenzweig, who previously founded the South African international tax firm, Intertax, bought the property a little less than a year ago from Alain Berdouare, the brother of Chicken Kitchen founder Christian de Berdouare.

The Di Lido Island property hit the market in September, asking $11.45 million with listing agent Dora Puig of Luxe Living Realty, according to Realtor.com. Puig was not immediately available to comment. Realtor.com shows the property was listed for about six months as a potential tear-down with approved plans for a six-bedroom home designed by SAOTA Architecture & Design.

Finkelstein heads his eponymous Belgian corporation that oversees a number of different companies including Finkelstein Diamonds. His company also has commercial and residential real estate arms, as well as a water distribution company, Cartier and Piaget distributors and a valet parking and related services company, according to its website.

This was not his first pricey home purchase in the area. In 2016, he paid $6.6 million for a home on the neighboring San Marino Island, which he sold earlier this month for $8.2 million.