Alan Faena sells waterfront Pine Tree Drive mansion for $13M

It hit the market last year for $16.5M

Miami /
Dec.December 16, 2020 04:30 PM
Alan Faena and 4731 Pine Tree Drive (Getty, Douglas Elliman)

Alan Faena and 4731 Pine Tree Drive (Getty, Douglas Elliman)

 

Argentinian developer Alan Faena sold his waterfront Miami Beach estate for $13.3 million.

Faena sold the mansion at 4731 Pine Tree Drive, more than a year after listing the 8,300-square-foot, nine-bedroom house for $16.5 million, records show. The buyer is a Delaware LLC.

Faena developed the Faena District in mid-Miami Beach along with investor Len Blavatnik, including the Faena House condo building, Faena Hotel, and the Faena Forum. Blavatnik, with developer Vlad Doronin, is now moving forward with plans for an Aman-branded luxury condo and hotel next to Faena House. The 1 million-square-foot mixed-use Faena District is on Collins Avenue, between 32nd and 36th streets.

Faena’s house was on the market with Douglas Elliman’s Oren Alexander. The price was reduced to $14.5 million in July and to $12.8 million in November, according to Realtor.com.

Property records show Faena’s Villas Como LLC paid $10.3 million for the 1-acre Pine Tree Drive property in 2014. It was built in the 1920s and features a master suite with a custom walk-in closet designed by Faena, a master bathroom with a Louis XV mirror, original 19th century Spanish chandeliers and hand-painted ceilings.

Faena’s former partner, Ximena Caminos, listed her house nearby on Pine Tree Drive for sale, most recently asking $5.3 million. It’s not currently on the market.

Also on Pine Tree Drive, HES Group founder Francisco Arocha sold his waterfront home for $6.5 million this month. Earlier this year, professional boxer Floyd Mayweather Jr. sold his house at 5501 Pine Tree Drive for $6.3 million, taking a loss of over $1 million.





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