Buyer revealed: Baseball player Manny Machado buys Tahiti Beach Island manse

The home sold for $11.3M, just over half its original ask

Miami /
Sep.September 27, 2019 12:30 PM
Manny Machado and Chad Carroll with 20 Tahiti Beach Island Road (Credit: Getty Images and Douglas Elliman)

Manny Machado and Chad Carroll with 20 Tahiti Beach Island Road (Credit: Getty Images and Douglas Elliman)

Baseball player and Miami native Manny Machado scored a mansion in his hometown.

Manny Machado, third baseman and shortstop for the San Diego Padres, is the buyer of 20 Tahiti Beach Island Road in Coral Gables, property records reveal. He paid $11.3 million for the waterfront home.

Machado, of Hialeah, has the world’s fifth largest sports contract. He signed the 10-year, $300 million deal earlier this year.

Miami cardiologist James Margolis and his wife Marja Paulina Margolis sold the 8,305-square-foot, six-bedroom mansion for about half the original asking price. The home sits on nearly 1 acre of land with 121 feet of water frontage, a 90-foot dock and boat lift, a pool, Jacuzzi, floor-to-ceiling windows and skylights.

Chad Carroll of Douglas Elliman represented the sellers, while Yvette Rivero of Rockway Realty brought the buyer. The property originally hit the market in 2016 for nearly $22 million with Judy Zeder, who was with EWM Realty International at the time.

Both Carroll and Rivero declined to comment on the buyer’s identity.

Margolis was the first cardiologist in the southeastern United States to perform an angioplasty, according to his LinkedIn page. He and his wife bought the waterfront property in 1990 for $1.11 million and developed it in 1994.

The exclusive Coral Gables island of Tahiti Beach includes three tennis courts and a private beach. The gated community is home to hedge fund manager Bruce Berkowitz, pharmaceutical executive Neil Flanzraich and Dr. Kira Flanzraich, and coffee heir Jose Souto.

Last year, former NFL linebacker and Super Bowl winner Jonathan Vilma sold his waterfront Tahiti Beach estate for $14.4 million, a 22 percent discount off the ask.


Related Articles

arrow_forward_ios
Jarrett Posner, Pablo Escobar with 5860 North Bay Road (The Waterfront Team)

Pablo Escobar’s former Miami Beach property sells for $11M

Pablo Escobar’s former Miami Beach property sells for $11M
Pharrell Williams and David Lerner with a photo of 2545 Northwest Third Avenue and a rendering of the Billionaire Boys Club exterior (Getty, Google Maps, Lerner Family Properties)

Pharrell’s Billionaire Boys Club to open store in Wynwood

Pharrell’s Billionaire Boys Club to open store in Wynwood
David Grutman and Alejandro Sanz with a rendering of 2050 North Bay Road (Getty, CMA Design Studio)

David Grutman closes on Alejandro Sanz’s Miami Beach home, plans new mansion

David Grutman closes on Alejandro Sanz’s Miami Beach home, plans new mansion
Marc Anthony and 300 Costanera Road (Getty, Mint Studios Miami)

Marc Anthony lists waterfront Coral Gables mansion for $27M

Marc Anthony lists waterfront Coral Gables mansion for $27M
8950 Arvida Drive with Andre Hakkak and Marissa Shipman (One Sotheby's, White Oak, The Balm)

Financier and cosmetics CEO buy Gables Estates mansion for $14M

Financier and cosmetics CEO buy Gables Estates mansion for $14M
667 Ocean Boulevard, Sammy Sosa (Credit: Jason Koerner/Getty Images, and Levy PR)

Sammy Sosa’s former Golden Beach home hits the market for $20M

Sammy Sosa’s former Golden Beach home hits the market for $20M
Javier Lopez and 2525 Ponce de Leon Boulevard, Coral Gables (Credit: Google Maps)

South Florida office landlords are offering sweeteners to lure tenants amid the pandemic

South Florida office landlords are offering sweeteners to lure tenants amid the pandemic
Henry Torres, Roza Radkiewicz and Merrick Manor

Henry Torres and Astor Companies allegedly owe broker $1M-plus commission: lawsuit

Henry Torres and Astor Companies allegedly owe broker $1M-plus commission: lawsuit
arrow_forward_ios

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

Loading...