Former Citigroup exec sells Key Biscayne waterfront home for $11M

Sale for 20,933 sf lot breaks down to about $530 psf for the land

Miami /
Aug.August 24, 2018 01:30 PM

398 Harbor Drive

Former Citigroup executive Mark Rufeh just sold his bayfront home in Key Biscayne for $11.1 million to an unidentified buyer.

The deal for the 2,561-square-foot home at 398 Harbor Drive breaks down to about 4,300 per square foot. The waterfront house, built in 1952, sits on a 20,933-square-foot lot, meaning the land traded for about $530 per square foot.

Property records show that Rufeh, who previously served as a managing director and co-head of Citigroup’s global operations and technology division, sold the property to a Delaware limited liability company represented by Feldman Law in Kendall.

Rufeh bought the property in 2013 for $8.45 million, records show.

Brigitte Nachtigall with Great Properties International represented Rufeh. Online marketing materials show the property hit the market in January for $12.95 million, meaning it sold at a 14 percent discount off its asking price.

In June, Mexican casino owner Rual Rocha Cantu paid $12 million for a Key Biscayne mansion at 260 Cape Florida Drive. The former chairman of Live Nation and the founder of SB2N Entertainment, Michael Cohl, also recently sold his home in Key Biscayne as part of a swap for a suite in a Fisher Island condominium.


Related Articles

arrow_forward_ios
Stiltsville (Wikimedia Commons)

One of few remaining Stiltsville homes destroyed in fire

One of few remaining Stiltsville homes destroyed in fire
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)

South Florida’s pandemic-fueled residential market poised for bull run in 2021

South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)

Kate Ford’s Palm Beach estate sells for $55M

Kate Ford’s Palm Beach estate sells for $55M
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Key Biscayne

Key Biscayne voters approve $100M bond tied to climate change

Key Biscayne voters approve $100M bond tied to climate change
Alfonso Munk and 100 Island Drive (Linkedin, Realtor)

Hines exec buys Key Biscayne mansion for $7M

Hines exec buys Key Biscayne mansion for $7M
460 N Mashta Drive & David Siddons of Douglas Elliman

Brazilian family sells waterfront Key Biscayne mansion for $13M

Brazilian family sells waterfront Key Biscayne mansion for $13M
Platinum Equity's Johnny O. Lopez and 7 Harbour Point, Key Biscayne (Realtor)

Platinum Equity founding partner sells Key Biscayne waterfront mansion for $16M

Platinum Equity founding partner sells Key Biscayne waterfront mansion for $16M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...