Waterfront Key Biscayne home sells for discount

The home last sold for $9.1M in 2015

Miami /
May.May 08, 2020 09:45 AM
750 South Mashta Drive (Credit: Google Maps)

750 South Mashta Drive (Credit: Google Maps)

A waterfront home on Key Biscayne’s Mashta Drive sold for $6.6 million, a 27 percent discount from its last purchase price five years ago.

Jorge Caraballo and Glenda Perez sold the house at 750 South Mashta Drive to Maryvadimar LLC, led by Marcela and Dieter Theime of Key Biscayne, records show. The home totals 5,967 square feet, equating to a price of $1,106 per square foot.

It was originally listed for $12.9 million in 2017 and had been on and off the market since then. The asking price was reduced to $7.4 million in February, according to Realtor.com.

The home last sold for $9.1 million in February 2015, according to records.

It was built in 1994 and has five bedrooms and seven bathrooms.

The seller was represented by Monica Defortuna with Fortune International Realty. The buyer was represented by Jose Armesto of Semsch Realty, according to Realtor.com.

The house was renovated in 2015 and has unobstructed ocean views. It features an outdoor summer kitchen, wine cellar, and two separate maid’s quarters, according to Realtor.com. The home also has an infinity pool, private terraces, a gym and a private dock that can hold a yacht up to 50 feet.

Mashta Drive has been home to some of Key Biscayne’s priciest sales. In 2015, the former estate of one of Key Biscayne’s founding family members at 775 South Mashta Drive sold for $47 million. In January, an angel investor paid $5.25 million for a waterfront residential lot at 571 North Mashta Drive, $1.45 million less than the property traded for seven years earlier.


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