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.






    Related Articles

    arrow_forward_ios
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Tech entrepreneur pays $8M for Continuum South Beach condo
    Ex-Miami Dolphins defensive end Andre Branch with the $6 million property (Getty, The Jills Zeder Group)
    Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
    Ex-Miami Dolphins player sells non-waterfront Miami Beach home for $6M
    Renderings of 3017 Flamingo Drive and Andrew Lessman (D/Vice Inc., ProCaps Laboratories)
    Vitamin mogul Andrew Lessman wins approval to build Miami Beach mansion
    Vitamin mogul Andrew Lessman wins approval to build Miami Beach mansion
    After the construction of Eighty Seven Park (Google Maps)
    Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
    Before Surfside tragedy, neighboring tower faced opposition, delays over construction impact
    AIMCO founder Terry Considine and a rendering of the Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    Jennifer Valoppi and Christian de Berdouare with 5004 North Bay Road (Getty, LPG/Douglas Elliman)
    Flying the coop: Chicken Kitchen owner sells waterfront Miami Beach spec mansion for $30M
    Flying the coop: Chicken Kitchen owner sells waterfront Miami Beach spec mansion for $30M
    (Facebook via Hotel Astor Miami Beach)
    Shuttered Hotel Astor in Miami Beach gets a new owner
    Shuttered Hotel Astor in Miami Beach gets a new owner
    The Fairwind Hotel and Joseph Chetrit (Getty, Fairwind)
    Chetrit Group sells Miami Beach hotel for $42M
    Chetrit Group sells Miami Beach hotel for $42M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...