Isaac Kodsi trades Miami Beach pad for Grove estate

Kodsi is the brother of Dan Kodsi, the developer of Paramount Miami Worldcenter

2131 South Bayshore Drive (Credit: Realtor)
2131 South Bayshore Drive (Credit: Realtor)

Isaac Kodsi, the brother of the Paramount Miami Worldcenter developer, bought a Coconut Grove estate at a $9 million discount from its original listing price.

Kodsi, an attorney and owner of Ark Financial Group, and his wife Teresita Menendez Kodsi, paid $6.6 million in an auction for a 7,000-square-foot home at 2131 South Bayshore Drive. The price equates to $942 per square foot, records show.

The home was initially listed for $15.8 million by Lourdes Alatriste with Engel & Völkers Miami, according to Realtor.com. The sale price represents a 58 percent discount from the original listing price.

Tierra Firme Land Trust sold the property.

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The Kodsis recently sold their house at 4412 North Bay Road in Miami Beach to an undisclosed buyer for $13 million. The home has seven bedrooms, eight-and-a-half bathrooms and nearly 10,000 square feet of space.

The couple’s new house in Coconut Grove sits on a 1-acre lot and has six bedrooms and seven-and-a-half bathrooms. It was the former home of John T. Peacock, one of the founders of Coconut Grove, according to Realtor.com. The home features a pool, chef’s kitchen with butler’s pantry, and two private guest suites.

Kodsi’s brother Dan is the developer of Paramount Miami Worldcenter, a 60-story, 530-unit condo tower at the mixed-use, master-planned Miami Worldcenter.