Pakistani-American multimillionaire Ashar Aziz sold a waterfront home lot in Gables Estates for $18 million, $6 million off its original asking price.
Records show Aziz sold the lot at 8525 Old Cutler Road in Coral Gables to Patrick and Kristen McMahon.
Patrick McMahon is the co-founder and chief investment officer of New York-based hedge fund MKP Capital Management, founded in 1995.
Aziz amassed his wealth with the cybersecurity firm FireEye, which he founded in 2004. His net worth was estimated at over $1 billion in 2014, a year after he bought the land, but Wallmine.com estimated his net worth at $334 million as of 2015.
Aziz paid $15 million for the 3.5-acre property in November 2015. He listed the plot for $24 million in April 2017. John Sandberg and Ann Nortmann of Douglas Elliman represented both sides of the deal. A spokesperson for Elliman declined to comment on the sale.
Sales in the gated Gables Estates community were plentiful in 2020. In December, SBE founder Sam Nazarian purchased a waterfront mansion for $14 million and cruise line chairman Howard Frank bought a mansion for $20 million in October.