TechCrunch founder buys waterfront Coral Gables home

Nearly 8K sf home hit the market in April for $16.5M

J. Michael Arrington with the property (Getty, James Irwin / ONE Sotheby’s International Realty)
J. Michael Arrington with the property (Getty, James Irwin / ONE Sotheby’s International Realty)

The techies keep coming.

J. Michael Arrington, founder and former co-editor of TechCrunch, paid $16 million for a waterfront home in Coral Gables, according to sources. Arrington purchased the property via a land trust.

Commercial broker Daniel Hughes, head of the retail firm Metro Commercial, sold the six-bedroom, seven-and-a-half-bathroom house on half an acre in Old Cutler Bay. The 7,518-square-foot home, designed by architect Cesar Molina, is near Fairchild Tropical Garden.

Arrington co-founded the tech blog TechCrunch in 2005, and sold it to AOL in 2010 for $25 million. Arrington, a major crypto investor, was ranked as one of the most influential people in the world by Time Magazine in 2008.

The Coral Gables sale marks a record for Old Cutler Bay, a high-end community near Gables Estates, according to One Sotheby’s International Realty. Jessica Adams of One Sotheby’s represented the seller. Matthew Elliot and Victor Olaniel, who were with Engel & Volkers at the time of the sale, represented the buyer. They recently joined Corcoran Group.

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Elliot and Olaniel could not be reached for comment. Adams declined to comment.

The Coral Gables property includes a two-car garage, home theater and home office, gym, pool and summer kitchen, a dock, and a whole house generator. It hit the market in April for $16.5 million.

Daniel and Beth Hughes paid $10.4 million for the house in 2018. It was built in 2015, according to property records.

This month, singer-songwriter Marc Anthony sold his Bacardi-developed estate in the nearby Cocoplum community of Coral Gables for $22.4 million.

A number of tech investors have recently purchased high-end homes in South Florida, including Keith Rabois, Jon Oringer and Peter Thiel, all of whom bought homes in Miami Beach during the pandemic.

Most recently, Honey co-founder Ryan Hudson paid $15 million for a waterfront home on the Venetian Islands.