Real Housewife’s ex-brother-in-law pays $7M for waterfront Fort Lauderdale teardown, plans new mansion
Buyer is member of Gebbia family, owners of Siebert Financial
A member of the Gebbia family, once linked to the “Real Housewives of Beverly Hills” reality show, paid $7 million for a waterfront Fort Lauderdale house, with plans to replace it with a new mansion.
Richard Gebbia bought the 0.7-acre property at 1025 North Rio Vista Boulevard, with plans to tear down the existing house and build a 10,000-square-foot to 15,000-square-foot mansion, he said. Gebbia, who closed on the purchase on Wednesday, declined to disclose how much he paid, only saying it was a little less than the asking price of $8 million. Realtor.com shows the property sold for $7 million.
The deal solidifies the Gebbias’ hard push into South Florida, as two other family members bought homes here, and the family also purchased a Miami Beach office that will be the Florida headquarters for their Siebert Financial and Rise Financial. They also are planning to open Fort Lauderdale offices for Siebert Financial and their Endurance Sports Management company.
Gebbia bought the Fort Lauderdale home from Aero Management, which is led by Mariana and Alicia Finol, and Juan Galli, according to property and state corporate records. Aero paid $950,000 for the property in 1996, a deed shows.
Built in 1954, the existing 4,084-square-foot, two-story house has four bedrooms and four and a half baths, according to Realtor.com.
“There is nothing wrong with the house. It’s just that we want to do something spectacular with the architects in Fort Lauderdale,” Gebbia told The Real Deal, adding that he is interviewing several designers.
His vision is for a design that emulates West Coast mansions that have an “openness” with expansive views of nature, he said, citing architectural designer Scott Mitchell’s work on Malibu houses.
Gebbia plans maximum preservation of the lush tree canopy on the lot and possibly floor-to-ceiling windows overlooking the landscape and the New River that runs along the backyard, he said. Although details are yet to be hammered out, a house of the size Gebbia wants would have at least six bedrooms.
In December, Richard Gebbia’s brother, David – who is the ex-husband of former “Real Housewife of Beverly Hills,” Carlton Gebbia – bought a house under construction on Palm Island in Miami Beach for $5.8 million. The price was a record at the time for a non-waterfront home on the island.
Family patriarch, John Gebbia Sr., and his wife, Gloria Gebbia, bought a Fort Lauderdale home at 500 Desota Drive for $7.9 million in October 2020.
The family is in the process of turning the South Beach retail building at 653 Collins Avenue into the headquarters for their Siebert and Rise companies. They paid $6.8 million for property in January.
David Gebbia is CEO of Siebert Financial’s subsidiary Stockcross Financial Services, and Gloria Gebbia is listed on Siebert website as a controlling shareholder and board member.
Aside from their financial companies, the Gebbias have other ventures. The IMDb online database for movies and TV shows lists John Gebbia Sr., as well as his three sons David, Richard and John Jr., as producers of the “Real Housewives of Beverly Hills” show.
The family’s Endurance company offers NFL, NBA and NHL athletes financial and other services, such as preparing them for drafts and “everything from mental, physical and spiritual” advisory, Richard Gebbia, who played football at the University of Mississippi, told TRD. The family is considering opening two Fort Lauderdale offices, one for Siebert and another for Endurance, possibly in downtown Fort Lauderdale.