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Hines exec buys Key Biscayne mansion for $7M
Sellers had paid $2.1 million for the property in 2004 and built the home
UPDATED, Oct. 22, 10:45 a.m.: Hines executive Alfonso Jose Munk and his real estate agent wife bought a waterfront Key Biscayne mansion for $6.9 million.
Records show Munk and his wife, Catalina Mendez Jaramillo, bought the home at 100 Island Drive from Fred and Susan Joch.
Munk is chief investment officer for North and South America at Hines. With $144.1 billion in assets under management, Hines is one of the largest privately held real estate investors, developers and managers in the world, according to its website.
Jaramillo, a real estate agent for Berkshire Hathaway HomeServices EWM Realty, represented herself and her husband in the purchase. Brigitte Nachtigall with Great Properties International represented the Joch family.
The 6,987-square-foot home went on the market at $8.9 million in January 2019. The price dropped to $8 million six months later, and most recently was asking $7.8 million in May.
The Joch family bought the property in 2004 for $2.1 million and built a new home on the lot, records show.
The three-story house has six bedrooms and six bathrooms. It also features a three-car garage, 150 feet of waterfront, a 70-foot dock with a boat lift, and a pool.
Fred Joch is the co-owner of Legacy International Advisors, a Miami-based life insurance planning firm. Susan Joch is a real estate agent and developer. She developed the recently sold property, according to her LinkedIn.
Key Biscayne has been a hot market in October. A wealthy Brazilian family sold their waterfront mansion for $13 million, a founding partner of Platinum Equity sold his mansion for $15.5 million and the co-founder of a cryptocurrency asset company sold his condo at Ocean Tower Two for $5.8 million.