Venezuelan oil tycoon sells Sunset Islands waterfront mansion for $17M

Gerardo Pantin Shortt paid $12.9M for the house in 2012

Miami /
Jan.January 08, 2021 06:00 PM
An exterior of 1835 West 27th Street, Miami Beach (Douglas Elliman)

An exterior of 1835 West 27th Street, Miami Beach (Douglas Elliman)

 

Venezuelan oil tycoon Gerardo Pantin Shortt sold his waterfront Sunset Islands mansion for $17.4 million.

Records show Miami Islands Property LLC sold the house at 1835 West 27th Street on Sunset Island II in Miami Beach to WPME Miami LLC, a Delaware corporation.

Although Miami Islands Property LLC is managed by Irisliz Castellano, Pantin is the true owner of the property. Pantin purchased the mansion for $12.9 million in 2012 and has been trying to sell it since 2019.

Pantin built his wealth contracting with Venezuela’s state oil company in the 1980s.

Oren Alexander of Douglas Elliman represented Pantin in the sale, while Jill Herzberg with Coldwell Banker represented the buyer.

Alexander, along with his brother, Tal, recently bought a waterfront teardown on Sunset Island IV for $10 million with plans to build a new home.

The mansion that Pantin sold spans 9,091 square feet, with eight bedrooms, seven full bathrooms and two half-bathrooms. The home has a balcony that overlooks the pool and private dock and has views of the bay. According to the listing, the property also has a pool house that can be used as a guest house.

Pantin was the developer of the planned MiMo District condo project Boulevard 57 until sales were canceled in 2016. The property was purchased by 13th Floor Investments and Tricera Capital for $19.5 million in 2017.

Recently on the Sunset Islands, a waterfront mansion once owned by Elizabeth Taylor sold for nearly $20 million.





    Related Articles

    arrow_forward_ios
    Frank Pellegrino Sr. with Loews Miami Beach and Loews Hotel owner Jonathan Tisch (Loews, Google Maps, Getty)
    Iconic NYC eatery Rao’s to open at Loews Miami Beach
    Iconic NYC eatery Rao’s to open at Loews Miami Beach
    17141 Collins Ave, Sunny Isle
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    A photo illustration of 12203 Tillinghast Circle in Palm Beach Gardens (top) and 6300 North Bay Road in Miami Beach (Getty Images, Old Palm Golf Club, Coldwell Banker)
    Flipping crazy: South Florida’s top resi flips of the year so far, ranked
    Flipping crazy: South Florida’s top resi flips of the year so far, ranked
    Don Peebles, in partnership with former Miami Beach Mayor Philip Levine and developer Scott Robins, wants to build a six-story office and apartment building on a city-owned parking lot (Rendering courtesy of 1664 Meridian Ave General Partner LLC)
    Miami vs NYC: A developer’s guide
    Miami vs NYC: A developer’s guide
    From left: Monroe Capital’s Theodore Koenig, Steve Witkoff, HFZ's Ziel Feldman and Benny Shabtai with the Shore Club (Monroe, Witkoff, HFZ, Getty)
    Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
    Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
    Prive at 5000 Island Estates Drive in Aventura (Condo.com, getty)
    Privé in Aventura closing tops Miami-Dade’s weekly condo sales
    Privé in Aventura closing tops Miami-Dade’s weekly condo sales
    Carillon Miami Wellness Resort at 6801 Collins Avenue in Miami Beach (Google Maps, Getty)
    Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
    Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
    Juan Jose Zaragoza and Fernando Perez-Hickman with 429 Lenox Avenue (LinkedIn, Google Maps)
    Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
    Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
    arrow_forward_ios

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

    Loading...