In Coral Gables, Armando Codina sells teardown and Jose Mas buys dev site
Separate properties each sold for $9M
Two high-profile Miami real estate industry players bought and sold pricey properties near each other in Coral Gables.
Developer Armando Codina and his wife, Margarita, sold a 4,666-square-foot home at 70 Casuarina Concourse in Gables Estates for $9 million, property records show. Christian Eiroa, owner of C.L.E. Cigars, bought the four-bedroom home.
In a separate deal, MasTec CEO Jose Mas paid $9 million for a 53,143-square-foot lot at 100 Arvida Parkway in Cocoplum, according to property records. Mas’ 100 Arvida LLC financed the purchase with a $5.4 million loan from City National Bank of Florida. Firpo Garcia sold the vacant property. It previously sold for $800,000 in 1988.
For the Codinas, the home — built in 1969 — is likely a teardown. It has a 200-foot seawall and 100-foot dock, and overlooks a lagoon that connects to Biscayne Bay. Codina and his wife paid $5.3 million for the 31,500-square-foot lot in 2014.
Beatriz Cecilia Mendez of Techrin Hijazi’s Techrin Estates Group at Brown Harris Stevens Miami represented the Codinas in the off-market sale. Jorge Maduro of The Keyes Company represented the buyer.
Armando Codina, who lives nearby, is founder and executive chairman of Codina Partners, a Coral Gables-based investment and development firm. The company’s recent projects include Downtown Doral, a master-planned, mixed-use community in Doral.
Mas leads his family-run construction and engineering firm, and is a co-owner of Inter Miami CF. The Major League Soccer team’s ownership group include David Beckham, SoftBank’s Marcelo Claure and Mas’ brother, Jorge.
Jorge Mas recently sold his waterfront Coconut Grove mansion to nutrition moguls Roger and Sloan Barnett for nearly $46 million.
South Florida’s high-end home sales have remained strong.
In Coral Gables, recent deals include TechCrunch co-founder J. Michael Arrington’s $16 million purchase of an Old Cutler Bay home, and singer-songwriter Marc Anthony sold his Bacardi-developed estate in Cocoplum for $22.4 million.