Fashion tycoon‘s former Coconut Grove mansion sells for $10M
Chicago couple bought the remodeled house
A Chicago couple paid $10.4 million for a non-waterfront Coconut Grove mansion that once belonged to a fashion tycoon.
ACCAA, a Delaware LLC with Andre Szajman as the representative, sold 4020 Kiaora Street to Alexander Goldstein and Olga Frankfurt, according to records.
Goldstein is the executive chairman of Chicago-based Eligo Energy, a retail electricity supplier, and Frankfurt is an oncologist with Northwestern Medicine. In January 2017, Frankfurt was honored at the Israel Cancer Research Fund’s Tower of Hope Gala, according to Better.net.
Lourdes Alatriste with Douglas Elliman represented the seller, and Nelson Gonzalez with Berkshire Hathaway HomeServices EWM Realty represented the buyer. The nearly 1-acre property with a pool and guest house was listed in August 2020, according to Realtor.com.
Built in 2004, the 10,623-square-foot home and guest house combined have eight bedrooms, nine full bathrooms and one half-bathroom.
“It’s a beautiful house, beautiful piece of property,” Gonzalez said. “It’s on a beautiful, quiet street.”
The seller bought the property in 2017 for $7.5 million from fashion mogul Marco Frachesen, both individually and as a trustee of the Frachesen Family Trust. Frachesen is a former head of Fendi and the owner of luxury retailer Merak.
Szajman, through his LLC, then applied to remodel the interior and extend the second floor in June 2019, records show.
The sale showcases the continued strength of the luxury home market in Coconut Grove, which has blossomed during the pandemic.
In September, billionaire developer Jorge Pérez sold his Coconut Grove mansion for $33 million and donated the proceeds to the Miami Foundation.
Also in September, “hedge fund vampire” Heath Freeman took a bite out of Miami’s luxury home market when he bought a waterfront Coconut Grove mansion for $19 million.
In July, a waterfront spec mansion traded for $65 million. Issac Perez, a longtime Key Biscayne resident who was identified in a 2005 Tampa Bay Times article as a “reputed arms dealer and heir to a Venezuelan oil fortune,” sold the home to an unknown buyer.