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Private equity titan buys lakefront Coral Gables home for $6M
Buyer sold a mansion on Jupiter Island for nearly $13M in January
A founding partner of a London-based private equity firm purchased a Coral Gables home for $6 million, after selling a Jupiter Island mansion for $12.9 million, The Real Deal has learned.
Roger Nagioff bought the lakefront house at 8817 Hammock Lake in Coral Gables, according to a spokesperson for Loweth Luxury Properties, which represented Nagioff.
Property records show a Panamanian entity, Fair Hill Corp., sold the home.
Nagioff is a founding partner of JRJ Group, a private equity firm founded in 2009. Formerly, he was the global head of fixed income at Lehman Brothers.
The seller purchased the Coral Gables property in 1999 for $770,000, records show. Construction began on the single-family home in 2000, and it was completed the following year.
The property was listed in January 2020 for $6.5 million. Roberta Ingletto with RGI Realty represented the seller, while Sabriane Brandao of Loweth Luxury Properties represented Nagioff.
The 7,623-square-foot house has six bedrooms and seven-and-a-half bathrooms, according to property records. The 1.1-acre property also features a three-car garage, pool and private dock.
Nagioff sold his home at 332 South Beach Road in Hobe Sound in January for the full asking price of $12.9 million, according to the spokesperson for Loweth Luxury Properties, whose agents Brandao and James Bennett handled that sale.
Nagioff hired the firm to complete $2 million worth of renovations to the Coral Gables property, according to the spokesperson for Loweth Luxury Properties. The Coconut Grove-based development and management company is owned by Chad Loweth, a developer and former hedge funder.
Among other recent sales in the gated community of Hammock Lakes in Coral Gables, a real estate developer sold a home for $6.8 million, and professional baseball player Manny Machado bought a mansion for $7.2 million.