Miami investment honcho scoops up waterfront Coconut Grove home for $5M
House is in the gated Entrada Estates community
Azora Capital investment firm founder Ravi Chopra paid $5.1 million for a waterfront house in Coconut Grove.
Chopra, who also is chief investment officer at Miami-based Azora, bought the property at 3600 Matheson Avenue in the gated Entrada Estates community from Almon Glenn Braswell Jr., according to a deed.
The property includes a three-bedroom main house and a two-bedroom guest house, with a total of 4,758 square feet on 0.4 acres. It also has five-and-a-half baths and a two-car garage, Realtor.com shows. The home is along a canal and four houses away from Biscayne Bay.
Constructed in 1940 in the Mediterranean Revival style, the house has modern upgrades, such as impact windows and Wolf Sub-Zero appliances, as well as a newer roof, according to Realtor.com. Other features include a pool, fireplace, vaulted ceilings and a clawfoot tub.
Rosie Cruz-Sotero of The Keyes Company represented the seller, and Jennifer Goldstein of the Alexander Team at Douglas Elliman represented the buyer, according to Realtor.com.
The house last traded in 2000 for $2.3 million, records show. It was listed in June for $6.4 million, with a price cut to $5.9 million in September, the listing shows.
The deal comes amid a flurry of single-family home sales across South Florida, created by a pandemic-induced homebuying spree, with out-of-state transplants driving much of the activity.
In other recent Coconut Grove deals, Chicago couple Alexander Goldstein, executive chairman of a retail electricity supplier, and Olga Frankfurt, an oncologist with Northwestern Medicine, paid $10.4 million in December for a non-waterfront mansion.
In July, a waterfront spec mansion under construction in the Grove sold for $65 million, setting a Miami-Dade County record at the time.
Last month, Miami businesswoman and philanthropist Adrienne Arsht listed her 4-acre Coconut Grove estate for $150 million. If sold at this price, the deal would set a statewide record.