Developer Arnaud Karsenti, the founder of Miami-based 13th Floor Investments, sold his lakefront home in Coral Gables in an off-market sale.
Records show Karsenti and his wife, Rebecca, sold their house at 5485 Hammock Drive to Stuart T. Kapp, a trustee of The Babycat Three Trust. The home sold for $8.5 million.
Arnaud Karsenti is managing principal of the real estate investment and development firm he founded in 2008. 13th Floor Investments manages over $2.1 billion in real estate, according to its website. His wife, Rebecca, is an OB/GYN.
Among 13th Floor’s projects is a planned mixed-use development in Delray Beach, in joint venture with Key International, CDS International Holdings and Wexford Capital. It is also partnering with The Adler Group to develop The Link at Douglas, a mixed-use, transit-oriented development at the Douglas Metrorail Station in Miami.
The Karsentis bought the 6,787-square-foot house for $3.3 million in 2010, records show. It was built in 2000. Miami-Dade County property records show interior alterations were made to the home last year. The six-bedroom, six-bathroom house is on a 1.1-acre, lakefront lot.
Karsenti declined to comment on the sale.
In March, Bruce and Shawn Chait, a father and son developing duo, were arrested on charges of attempting to extort millions of dollars from Karsenti and 13th Floor Investments.
Among other recent sales in Coral Gables, a former investment banker spent $28.9 million on a Tahiti Beach estate; and Jeff Conry, who just bought a home in Coconut Grove for $12.8 million, flipped a Coral Gables mansion for $19.4 million.