Developers sell Venetian Islands spec mansion for $13.6M
It hit the market nearly a year ago for $18.5 million
A group of developers sold a newly built Venetian Islands spec home for $13.6 million.
Eduardo Otaola, Rodrigo Diaz and Eduardo Lucca sold the waterfront mansion at 941 North Venetian Drive in Miami to a land trust managed by Eric A. Jacobs.
The 9,228-square-foot mansion was completed last year and hit the market in October for $18.5 million. It sold for a 26 percent discount off the original asking price.
Dina Goldentayer of Douglas Elliman represented the buyer and seller. Elliman declined to comment on the deal.
The Venetian Islands home has five bedrooms and eight bathrooms, a movie theater, office, staff wing and a three-car garage.
The developers bought the Biscayne Island lot in 2015 for $4.8 million and broke ground on the spec home a year later. They hired interior designer James Wall of Thirlwall Design to furnish the home with Minotti furniture and more than $2 million of artwork and sculptures, according to the listing.
In June, the former CEO of Bolthouse Farms listed his newly built Venetian Islands estate for $34 million. Professional race car driver and investor Chapman Ducote sold his home on San Marco Island for $8.4 million in July.