A former Honeywell executive sold a home in Sunset Islands for $14.6 million, a 36 percent drop from its initial listing price.
Peter D’Aloia and his wife, Marguerite D’Aloia, sold their 9,151-square-foot home at 1435 West 27th Street on Sunset Island II for $1,595 per square foot, records show. S. Noble Martin, trustee of the 1435 Irrevocable Trust, bought the home.
The move comes four months after Peter D’Aloia bought a penthouse at the luxury condo development Palazzo Del Sol in Fisher Island for $14.5 million.
The waterfront Sunset Islands estate sits on a 20,000-square-foot lot and was built in 2013. The seven-bedroom home features a Koi filled Zen Garden and a saltwater pool.
The seller was represented by Melissa Rubin of Compass and the buyer was represented by Nelson Gonzalez with EWM Realty International.
Rubin previously told The Real Deal she was targeting hedge funders and other financial executives as potential buyers.
“We believe our buyer will come from New York,” she said. “Our prices are still inexpensive in comparison to what they would pay in the Hamptons.”
D’Aloia purchased the home in 2014 for $15.5 million. It then hit the market a year later for $23 million, but the house remained unsold and most recently was listed for $17.9 million in March, according to Realtor.com.
D’Aloia was the senior vice president and CFO of American Standard Companies, a global manufacturer of plumbing, heating, ventilating and air conditioning now owned by Ingersoll Rand and known as Trane.
Prior to that, he was an executive at Honeywell, a company providing commercial and consumer products, engineering services and aerospace services.
Sunset Islands in Miami Beach is home to a number of celebrity buyers and wealthy financial executives. In May, a Chicago buyer paid $19.15 million for a waterfront spec home at 2125 Lake Avenue on Sunset Island IV. In March, a Miami Beach hedge funder, Andrew Casino, sold a 5,900-square-foot house at 2300 Sunset Drive for $5.9 million.