Los Angeles broker Carl Gambino is joining the party in Miami.
Gambino, who has worked with celebrities including Nick and Joe Jonas, Alex Rodriguez and Jennifer Lopez, is joining Compass in Florida, he told The Real Deal. Gambino is also licensed with Compass in California, and with Adam Modlin’s The Modlin Group in New York.
Gambino and his wife, who grew up in Miami, recently purchased a home on Miami Beach’s Sunset Islands, and he has been investing in Miami for years, he said. Gambino cited huge demand and rising prices for luxury homes and condos in South Florida. Many of his high net-worth clients are relocating to Florida.
“It’s something I’ve considered for a long time, I just think now is the perfect environment,” Gambino said.
In October, Gambino and his colleague Tomer Fridman relisted Eva Chow’s Holmby Hills mansion in Los Angeles for $65 million, down from the $78 million it was asking in October 2018.
He said he closed about $200 million worth of sales in 2020. The previous year, he closed $145 million worth of sales, while he was with Westside Estate Agency, including the $20 million sale of an Encino home to Nick Jonas and Priyanka Chopra.
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Gambino said he plans to recruit a small group of agents in the Miami market, and eventually expand to Palm Beach. Luxury home sales have increased dramatically in recent months in Miami Beach, Palm Beach and nearby cities. That activity has also spilled over into the ultra high-end condo market, brokers say.
On the Sunset Islands, recent deals include the $17.4 million sale of Venezuelan oil tycoon Gerardo Pantin Shortt’s waterfront house on Sunset Island II, and the nearly $20 million sale of the late Elizabeth Taylor’s former home.