Venezuelan oil tycoon lists waterfront Miami Beach mansion for $17M

Pantin’s family contracted with Venezuela oil company for nearly $1B between 2008 and 2015

Oct.October 10, 2019 09:45 AM
1835 West 27th Street and Oren Alexander

1835 West 27th Street and Oren Alexander

Venezuelan oil tycoon Gerardo Pantin Shortt wants to sell his waterfront Miami Beach mansion.

Pantin, who built his fortune contracting with Venezuela’s state oil company starting in the 1980s, owns the nine-bedroom, 9,091-square-foot Sunset Islands home. It hit the market this week with Oren Alexander of Douglas Elliman, according to Zillow.

Records show Miami Islands Property LLC, now managed by one of Pantin’s associates, Irisliz Castellano, paid $12.9 million for the half-acre property at 1835 West 27th Street in 2012. Pantin has also signed documents tied to the mansion.

Pantin told the Miami Herald in 2016 that his family signed contracts worth nearly $1 billion with PDVSA, Venezuela’s state-owned oil company, between 2008 and 2015. He also confirmed at the time that the family was owed about $200 million in unpaid work from PDVSA.

The Sunset Islands house features a two-story master suite with three balconies, a pool house, waterfall, pool and private dock, according to the listing. The property was built in 1956 and updated and expanded in the 2000s.

Pantin, who also owns condos in Sunny Isles Beach and Aventura, was also the developer of Boulevard 57, a planned condo project in the MiMo District of Miami that was later canceled. Pantin’s involvement in the development was revealed through a lawsuit his former partner filed against him. He said he hid his role out of fear that Venezuela’s government would try and seize his assets.

Sales activity has been picking up in the Sunset Islands. Marc Puleo, the founder and former CEO of 1-800 PetMeds, sold his waterfront Miami Beach estate — a property that once belonged to Enrique Iglesias — to former Formula One driver Eddie Irvine for $13 million.

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