Canadian plastics CEO Robert Farber just paid $7.2 million for a mansion in Pinecrest that was on the market last year for $16 million, property records show.
Pablo and Elizabeth Delgado sold the 15,235-square-foot home at 5801 Moss Ranch Road to Farber’s James Street Capital Holdings of America. Farber is CEO of GSC Technologies Inc., one of the top manufacturers of plastic goods. He financed the deal with a $1.8 million mortgage from the sellers.
GSC designs and makes storage and organization products, such as folding tables and chairs, cabinets, closet systems and sporting goods. It has distribution facilities in the U.S., Canada and China.
Farber’s Italianate-style estate, equipped with a 16-seat home theater, sits on a 1.3-acre plot between Rolling Road Drive and Moss Ranch Road. The Delgados paid $940,000 for the property in 2008 and developed the nine-bedroom, 13-bathroom home in 2013. It features thumbprint entry, smart-home technology, an 1,100-bottle wine cellar and two summer kitchens.
Audrey Ross of Compass represented the sellers. The mansion has been on and off the market since 2015, and last year was asking $16 million, marking one of the most expensive listings in the city. Ross was not immediately available for comment.
The village of Pinecrest has been home to a number of celebrities, including Dwyane Wade and Chris “Birdman” Anderson. In November, Miami Heat player Dion Waiters paid $7.4 million for a non-waterfront mansion nearby.