Yext exec closes on South Florida home
Mast Capital developer Matthew Adler sold the property
Yext executives continue to buy homes in South Florida, after opening an office here in recent years.
The latest is Marc Ferrentino, chief strategy officer of New York City-based Yext, a tech brand management company that offers a network of apps, maps, search engines and other services.
Ferrentino paid $5.6 million for the seven-bedroom, 8,863-square-foot mansion at 6035 Southwest 92nd Street in Pinecrest. Property records show developer Matthew x and Maria Morita sold the home. Adler is chief investment officer of Miami Beach-based Mast Capital and Morita is a senior director at Boston Consulting Group, according to her LinkedIn.
One Sotheby’s International Realty Michael Martinez represented Adler, and Blair Sonville of Lowell International Realty brought the buyer.
The Pinecrest home was on the market for six days before going into contract, according to One Sotheby’s. It marks the most expensive resale in Pinecrest for a property that is more than a decade old. It was built in 2007, according to property records.
The mansion sits on a 1.2-acre lot and was designed by architect Cesar Molina. Mackle Construction built the home, which features a gym, media room, office, guest house and service quarters. It also includes a four-car garage, full home generator, two laundry rooms, a summer kitchen, gazebo and a saltwater pool.
Adler and Morita paid $4.3 million for the property in April 2019.
Yext founder and CEO Howard Lerman paid $17 million for the 10,665-square-foot estate at 6010 North Bay Road last year. The company has an office at 600 Brickell Avenue.
Ferrentino founded Nomi Technologies, which Brickstream acquired in 2014, according to his bio. He’s also worked for BMC Software and Salesforce.
South Florida is seeing a surge in buyers from Silicon Valley and the Northeast.
Most recently, tech investor Keith Rabois paid a record $28.9 million for a waterfront mansion on the Venetian Islands in Miami Beach.
In 2017, venture capitalist Jim Goetz, who’s known for his $60 million investment in WhatsApp, paid $22 million for a waterfront home, also on the Venetian Islands.
Pinecrest has been home to a number of athletes. Former Miami Heat player Chris “Birdman” Andersen sold his Pinecrest home earlier this year for $2 million, a steep discount off the original asking price.