The Real Deal Miami

NY tech buyer pays $15M for Hillsboro Mile mansion

Kishore Mirchandani and his wife paid more than $1,000 psf for the waterfront property
By Keith Larsen | July 03, 2018 03:41PM

995 Hillsboro Mile and Kishore Mirchandani

A Hillsboro Mile mansion just sold for $14.9 million after being on the market for only a week.

Kishore Mirchandani, who founded a New York company that provided outsourcing for finance and accounting services, and his wife, Anjali, purchased the 13,914 square foot house at 995 Hillsboro Mile for $1,074 per square foot, according to property records.

A company tied to Sharon Gustafson, who bought the home in 2008 for $13.5 million, sold the waterfront property to the Mirchandanis.

Susan Rindley of One Sotheby’s International Realty represented the seller. Chad Whitaker of Whitaker Realty brought the buyers, according to Redfin.

The seven-bedroom home sits on a 1.18-acre lot overlooking the ocean and the Intracoastal Waterway and features a home theater, tennis court, a 10-car garage, library, a billiards room, a wine room, two elevators, and a summer kitchen with a pool and spa. It also can fit a yacht of up to 175 feet long.

Mirchandani founded Outsource Partners International, a professional services firm that provided outsourcing of finance, accounting, and analytics business processes. According to his LinkedIn, he grew the company’s revenues to more than $100 million before it was sold to EXL Service Holdings in 2011.

Hillsboro Beach is known for its stretch of exclusive, pricey homes on Hillsboro Mile. Last year, Patrón Spirits Company CEO Edward Brown paid $20 million for a spec home at 1115 Hillsboro Mile.  Le Palais Royal, a 91,000-square-foot mansion in Hillsboro, was at one point listed for $195 million, but was taken off the market in recent months.