Hospitality mogul David Grutman lists Sunset Islands home
He recently sold a majority stake in his company to Live Nation
UPDATED, June 5, 12 p.m.: Hospitality entrepreneur David Grutman is looking to sell his Sunset Islands home.
Grutman, founder of Groot Hospitality, which owns the nightclub LIV at the Fontainebleau, Story, Komodo, Swan & Bar Bevy and other food and beverage concepts, listed his waterfront home at 2201 Sunset Drive in Miami Beach for $8.9 million.
Grutman sold a majority stake in Groot Hospitality to Live Nation Entertainment for an undisclosed amount in October.
His home on Sunset Island IV has been featured in Elle Decor and the New York Times.
The five-bedroom, six-bathroom house spans 6,673 square feet, and includes a pool, 208 feet of water frontage, a gym, a secret garden and two terraces, according to the listing. It’s on the market with Dina Goldentayer of Douglas Elliman.
Property records show he paid $5.1 million for the house in 2013. It was built in 1937 and later expanded.
Grutman’s partners include Pharrell Williams at Swan in the Miami Design District. When Live Nation purchased a stake in his company, the company said Groot Hospitality has 11 new projects planned for Miami, Las Vegas, Dallas and Dubai. In Miami Beach, that includes the Firestone redevelopment at 1575 Alton Road into Winker’s Diner and Toothfairy, a bakery.
Recent sales on the Sunset Islands include the $14.3 million closing of 2138 Bay Avenue to a Toronto financier, and the $6.2 million sale of 1515 West 22nd Street to Brad Miller and his wife Jamie.
Correction: An earlier version of this story misstated on which Sunset Island Grutman’s home is located.