In Coral Gables, Armando Codina sells teardown and Jose Mas buys dev site

Separate properties each sold for $9M

Miami /
Jun.June 18, 2021 05:30 PM
Jose Mas with 100 Arvida Parkway and Armando Codina with 70 Casuarina Concourse (MasTec, Game Properties, Codina Partners)

Jose Mas with 100 Arvida Parkway and Armando Codina with 70 Casuarina Concourse (MasTec, Game Properties, Codina Partners)

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.





    Related Articles

    arrow_forward_ios
    Nuveen Real Estate's Mike Sales with the Waterford Business District
    Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
    Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
    800 South Dixie Highway and Location Ventures ceo Rishi Kapoor (Location Ventures, Orduna Courts, Getty)
    Location Ventures sells Coral Gables luxury student co-living building
    Location Ventures sells Coral Gables luxury student co-living building
    From left: MHCommercial Real Estate Fund II's Jordan Paul, Dung Lam and Neil Merin along with the Yamato Office Center in Boca Raton and the Bridge Point Powerline Road in Pompano Beach (NAI Global, LoopNet, Getty Images)
    Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
    Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
    Jeff Bezos and his parents, Jackie and Mike Bezos, with 9501 Journeys End Lane (Douglas Friedman, Getty)
    Jeff Bezos’ parents close on second Coral Gables mansion for $44M
    Jeff Bezos’ parents close on second Coral Gables mansion for $44M
    Allen and Spencer Morris, a rendering of the Ponce Park Residences, Mayor Vince Lago and Commissioner Rhonda Anderson (Oppenheim Architecture, Alan Morris, City of Coral Gables)
    Coral Gables commission gives Allen Morris another chance for Ponce Circle project
    Coral Gables commission gives Allen Morris another chance for Ponce Circle project
    Jeff Bezos and his parents, Jackie and Mike Bezos, with 9475 Journeys End Road (Douglas Elliman Realty, Illustration by The Real Deal with Getty)
    Jeff Bezos’ parents tied to $34M purchase of waterfront Coral Gables mansion
    Jeff Bezos’ parents tied to $34M purchase of waterfront Coral Gables mansion
    Asia PH on Brickell Key (Fortune International Realty, Illustration by Priyanka Modi for The Real Deal with Getty)
    Asia PH on Brickell Key tops Miami-Dade’s weekly condo sales
    Asia PH on Brickell Key tops Miami-Dade’s weekly condo sales
    Oceana Bal Harbour
    Oceana Bal Harbour closing tops Miami-Dade’s weekly condo sales
    Oceana Bal Harbour closing tops Miami-Dade’s weekly condo sales
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...