Chapman Ducote sells Venetian Islands home for $8M

COO of mortgage lender LendUs purchased the home for $1,875 psf

TRD MIAMI /
Jul.July 23, 2020 06:13 PM
Chapman Ducote with 1276 South Venetian Way (Credit: Google Maps and Gustavo Caballero/Getty Images)

Chapman Ducote with 1276 South Venetian Way (Credit: Google Maps and Gustavo Caballero/Getty Images)

Professional race car driver and investor Chapman Ducote sold his Venetian Islands home for $8.4 million.

Ducote sold the five-bedroom, five-bedroom, 3,788-square-foot house at 1276 South Venetian Way in Miami Beach to Tracey Hirt, chief operating officer of LendUs, a mortgage lender based in California, property records show.

Ducote is also president and CEO of a Miami Beach-based credit card processing company, Merchant Services Ltd. And he is also part owner of Silverpeak, a marijuana dispensary in Aspen, Colorado, according to the Aspen Times.

The San Marco Island house, built in 1935, sold for $1,875 per square foot. Allan Kleer and Fabian Garcia-Diaz of One Sotheby’s International Realty brokered the deal, they said.

The house was listed for $11.45 million. It was built in 1935, with additions in 1982 and 2003. It sits on a 10,500-square-foot lot.

Ducote paid $1.85 million for the property in 2010.

Last month, a Venetian Islands estate hit the market for $34 million. The waterfront mansion, at 1429 North Venetian Way, is owned by the former CEO of Bolthouse Farms.

Recent sales on the Venetians include the $5.5 million trade of the waterfront home at 320 West Rivo Alto Drive, which closed in February.

Write to Katherine Kallergis at [email protected]


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