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

Miami /
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.


Related Articles

arrow_forward_ios
The Faena House at 3315 Collins Ave, Miami Beach (Foster + Partners)
Miami-Dade condo sales dollar volume rises in mid-June
Miami-Dade condo sales dollar volume rises in mid-June
Lucille R. Zanghi and the Palazzo Della Luna (Facebook, Palazzo Della Luna)
Cashing in shares? Retired stockbroker spends $11M on a Fisher Island condo
Cashing in shares? Retired stockbroker spends $11M on a Fisher Island condo
Karen H. Bechtel and Continuum South Beach (100 South Pointe Drive, Miami Beach) (Bechtel via Carlyle)
Private equity power couple sell 36th floor condo for $30M
Private equity power couple sell 36th floor condo for $30M
Faena House and a photo illustration of Ken Griffin (Foster + Partners, Getty, iStock)
Ken Griffin sells remaining Faena House condo for $11.2M
Ken Griffin sells remaining Faena House condo for $11.2M
Novak Djokovic with the unit (Eighty Seven Park unit photo via Lenny Kagan, Djokovic via Getty)
Novak Djokovic sells Miami Beach condo for modest profit
Novak Djokovic sells Miami Beach condo for modest profit
Clockwise from lower left: John Cooper and Allen Morris from The Allen Morris Company and Stormont Hospitality and Camilo Lopez and Jorge Escobar from Black Salmon (Ander & Co)
AMS Hospitality, Black Salmon buy Circa 39 hotel in Miami Beach
AMS Hospitality, Black Salmon buy Circa 39 hotel in Miami Beach
4412 North Bay Road
North Bay Road mansion sells for $25M, nearly double its purchase price two years ago
North Bay Road mansion sells for $25M, nearly double its purchase price two years ago
Oceana Key Biscayne at 360 Ocean Drive, Key Biscayne
Miami-Dade condo sales and volume dip in second week of June
Miami-Dade condo sales and volume dip in second week of June
arrow_forward_ios

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

Loading...