The Real Deal Miami

Former Live Nation chairman swaps Key Biscayne estate for Fisher Island penthouse

Key Biscayne home sold for $20.5M and Fisher Island penthouse sold for $12M
By Amanda Rabines | June 29, 2018 02:35PM

960 Harbor Drive, unit 7882 and Michael Cohl (Credit: Getty Images)

I’ll buy your multimillion-dollar home if you buy mine?

Canadian concert promoter Michael Cohl and José Antonio Cañedo White, a founding partner at Mexico’s Axis Capital Management, just swapped homes.

Cohl, the former chairman of Live Nation and the founder of SB2N Entertainment, sold his Key Biscayne compound at 960 Harbor Drive in two deeds totaling $20.5 million, according to property records. The 12,520-square-foot mansion, once listed for $36 million, includes nine bedrooms and 11 bathrooms, a 16-seat private theater and an exercise studio.

The deal includes Cañedo White and Mariana Lemus Gonzalez’s Tarpon Holdings paying $12 million for about half of the Key Biscayne property and $8.5 million for the other half through Lemus Gonzalez’s Pollito Family Trust.

Records show Cohl’s Yoyot Realty bought Cañedo White’s Oceanside Fisher Island ground-floor suite for $12 million. That deal for the 6,170-square-foot unit breaks down to about $1,945 per square foot.

The Key Biscayne estate was listed with Billy Nash of the Nash Group at Keyes Company, and was scheduled to be auctioned off in late April by Concierge Auctions with no reserve. Nash could not immediately be reached for comment.

Cañedo White is also a board member of several Mexican media companies, including the controlling holding company of Grupo Televisa, Mexico’s largest television company and the largest Spanish media company in the world.

The South Florida Business Journal first reported the property sales.