Longtime Ford Motor exec sells Venetian Islands estate for $18M

Waterfront property includes two houses with two pools

Jacques Nasser and 445-441 East Rivo Alto Miami Beach
Jacques Nasser and 445-441 East Rivo Alto Miami Beach 

Lebanese-Australian business executive and philanthropist Jacques Nasser sold his waterfront Venetian Islands property for $18 million.

Nasser, former Ford Motor Company president and CEO, and former chairman of mining company BHP Billiton, sold the double-home at 445 to 441 East Rivo Alto Drive in Miami Beach, according to the Multiple Listing Service. The buyer is undisclosed and the property has yet to clear records.

The sale is one of the most expensive to close on the Venetian Islands in recent years.

The property includes two houses, each with a pool, with a total of nine bedrooms, seven bathrooms and one half-bath. Nasser paid $5 million for the 0.6-acre property in 2005. The homes were originally built in 1947 and 1956, records show.

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The property hit the market in July for $19.9 million with Dora Puig of Luxe Living Realty. Douglas Kinsley of Fortune International Realty represented the buyer. Puig and Kinsley could not immediately be reached for comment.

Nasser worked for Ford for the majority of his career, from 1968 to 2001. He was chairman of BHP from 2010 to 2017, and serves on the boards of 21st Century Fox and Turkish conglomerate KOC Holdings, according to the Financial Review.

High-end waterfront homes have been selling throughout the pandemic. Earlier this month, spec home developers Eduardo Otaola, Rodrigo Diaz and Eduardo Lucca sold the waterfront mansion at 941 North Venetian Drive for $13.6 million.

In June, the former CEO of Bolthouse Farms listed his newly built Venetian Islands estate for $34 million.