Artefacto owner buys waterfront Palm Island home for $5M
Artefacto is opening a newly developed 45K sf showroom in Coral Gables
Paulo Bacchi, the owner of luxury furniture and staging company Artefacto, purchased a waterfront home in Miami Beach for $5.3 million, The Real Deal has learned.
Bacchi acquired the five-bedroom, 3,686-square-foot house at 222 South Coconut Lane on Palm Island, Bacchi said. Property records show the seller is a trust managed by attorney Brian Kopelowitz. Anthony and Jessica Burns transferred ownership of the home to that trust last year.
The house was built in 1927 on a 7,000-square-foot lot and has 50 feet of water frontage. It includes an office and three and a half bathrooms, according to the listing. Bacchi plans to live in the home with his family. He said he will update the Tuscany villa-style home.
Dora Puig of Luxe Living Realty represented the buyer and seller.
Bacchi’s firm has been successful in the staging and sale of furnished homes throughout South Florida. The company, which Bacchi’s father started in Brazil in 1976, recently opened a 40,000-square-foot showroom and headquarters in Coral Gables. Artefacto developed the new building at 101 South Dixie Highway, which was designed by Domo Architecture + Design.
Bacchi took over as CEO of Artefacto in 2015. Artefacto also has locations in Aventura and Doral. The company partnered with architect Kobi Karp and spec home developer Todd Michael Glaser on the spec home at 375 North Hibiscus Drive in Miami Beach, which is asking $24 million.
Last year, Bacchi sold a unit on Fisher Island for $6.8 million.
Waterfront home sales have been brisk throughout Miami Beach. Nearby on Palm Island, venture capital investor Ben Ling and his partner, front-end web developer Chris Coudron, paid $29.5 million in September for the waterfront mansion at 135 Palm Avenue. And in August, former boxing champion Floyd Mayweather Jr. bought a mansion on the same street as Bacchi for $18 million.