Asset management honcho sells waterfront Sunset Islands home for $13M

Sellers renovated the house before listing it

Miami /
May.May 26, 2021 02:30 PM
Kawa Capital Management co-founder Alexandre Saverine and Redzone co-CEO Richard Tester (right) with 1617 West 22nd Street (Photos via Kawa, Redzone, Corcoran)

Kawa Capital Management co-founder Alexandre Saverine and Redzone co-CEO Richard Tester (right) with 1617 West 22nd Street (Photos via Kawa, Redzone, Corcoran)

The co-founder of an asset management firm sold his waterfront Sunset Islands home for $13 million.

Alexandre Saverin and his wife, Johanna Paola Reyes, sold their house at 1617 West 22nd Street in Miami Beach to Richard Tester and Kirsten Tester, records show.

Saverin is the co-founder of Aventura-based Kawa Capital Management. He is also the chief risk officer, according to the firm’s website. Founded in 2007, Kawa Capital Management manages over $1.4 billion in assets.

Richard Tester is a founding member and co-CEO of Redzone Production Systems, a Miami-based technology and service company for food and consumer packaged goods manufacturers.

Records show Saverin and Reyes bought the property in 2013 for $5.9 million. The couple gutted the home and renovated it, according to Corcoran agent Julian Johnston, who had the listing.

Saverin and Reyes initially intended to move into the house, but instead listed it in 2016. The original asking price was $11.5 million. It was relisted in February asking $13 million. Johnston brokered both sides of the deal.

According to the listing, the 7,972-square-foot home on 0.5-acres has eight bedrooms and nine-and-a-half bathrooms with a detached guest house.

Among recent sales on Miami Beach’s Sunset Islands, Mike Piazza sold a waterfront mansion for $15 million, a private equity partner bought a mansion for $10.8 million, and Don Mullen bought a mansion for $24.8 million.






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