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

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.