Wife of late Boston investment manager sells Key Biscayne home for $9M

The wife of the late founder of a Boston investment management firm sold a waterfront Key Biscayne home for $8.6 million, 40 percent off its original listing price.

Janice Sherman sold the 7,445-square-foot house at 15 Harbor Point for $1,155 per square foot, records show. Molivel Real Estate LLC, tied to Irvine, California-based First American Exchange Company, bought the house.

The home was initially listed for $15.2 million in June 2014. The price was lowered to $13.9 million in 2016 and eventually listed for $9.9 million in October.

The two-story Key Biscayne house was built in 1998, and includes a home office, family room, gourmet kitchen, three-car garage, terraces and a man-made beach and dock. The house is on a 19,085-square-foot property.

The couple paid nearly $8 million for the home in 2005, records show.

Brigitte Nachtigall of Great Properties International was the listing agent, according to Realtor.com.

Sherman’s late husband Robert Segel was managing director of Boston-based Park Street Capital, which invests in private market asset classes, including venture capital, private equity and natural resources, according to its website. He died in September 2017.

Some luxury homes have recently traded for less than their previous values in Key Biscayne. Earlier this month, a waterfront home on Mashta Drive sold for $6.6 million, a 27 percent discount from its last purchase price five years ago.

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.