An angel investor paid $5.25 million for a waterfront residential lot in Key Biscayne, $1.45 million less than the property traded for seven years ago.
Pugla Investments LLC, led by Fernando J. Lopez, sold the 15,200-square-foot lot at 571 North Mashta Drive to Andrew Carton, records show. Carton is president and co-founder of Mobile Nations, an online mobile technology publication, as well as founder of Alteraxion, Carton’s personal investment vehicle, according to his LinkedIn.
The Mashta Drive property last sold for $6.7 million in 2013.
It first hit the market in 2015 for $7.9 million, and was taken on and off the market since then. The property most recently listed for $5.9 million in June, according to Realtor.com.
Cecilia Sanchez of Great Properties International LLC represented the seller, and Ricardo Querejeta of Sea Grove Realty brought the buyer.
Nearby, Evan Metropoulos, the son of Hostess investor C. Dean Metropoulos, owns the estate at 755 and 775 South Mashta Drive. Metropoulos, through a Delaware company, paid $58.9 million for the properties in 2015.
In June of last year, spec home developers Sergio and Fernando Guardazzi paid $5.2 million for a waterfront house at 220 Island Drive in Key Biscayne.