Investment banker buys waterfront Venetian Islands teardown for nearly $10M

Seller bought the home in November for $5.9M

Steven and Farrel Starker with 114 West San Marino Drive, Miami Beach (Getty, Google Maps)
Steven and Farrel Starker with 114 West San Marino Drive, Miami Beach (Getty, Google Maps)

The co-founder of a financial services firm and his wife bought a waterfront Venetian Islands teardown for $9.6 million. The seller flipped the home three months after buying it.

Records show San Marino Developments Two LLC sold the house at 114 West San Marino Drive to Bass Kids Properties LLC.

The buying entity links to Steven and Farrel Starker. Steven Starker is the co-founder of New York-based BTIG, a global financial services firm specializing in institutional trading, investment banking, research and related brokerage services. According to its website, Starker founded BTIG in 2005.

The selling entity is managed by Francisco E. Perez. Guillermro Osses and Federico Ayala signed in favor of the Florida corporation.

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Danny Hertzberg of The Jills Zeder Group represented the seller, while Brett Harris of Douglas Elliman represented the buyer, according to Hertzberg.

Property records show the 1,911-square-foot house, built in 1939, has three bedrooms and three bathrooms. The lot totals 10,500 square feet and includes a pool and dock.

The seller purchased the Venetian Islands home in November for $5.9 million. The listing for that property marketed it as a redevelopment opportunity.

Last month, another teardown on the Venetian Islands sold for $11.8 million.

This month on the Venetian Islands, the co-founder of coupon app Honey bought a waterfront home for $15 million.