Billionaire Shari Arison sells waterfront Bal Harbour estate for $41.5M

9K sf mansion was last asking $50M

Shari Arison and 276 Bal Bay Drive (ורדי כהנא., Public domain, via Wikimedia Commons, Lifestyle Production Group)
Shari Arison and 276 Bal Bay Drive (ורדי כהנא., Public domain, via Wikimedia Commons, Lifestyle Production Group)

Israeli-American businesswoman Shari Arison sold her waterfront estate in Bal Harbour for $41.5 million.

Arison, the daughter of the late Ted Arison, sold the 9,104-square-foot mansion at 276 Bal Bay Drive, property records show.

276 Bal Bay Drive (Lifestyle Production Group)

276 Bal Bay Drive (Lifestyle Production Group)

Arison is the wealthiest woman in Israel, according to Forbes, which pegs her net worth at $4.6 billion. She owns Arison Investments and was previously the controlling shareholder of Bank Hapoalim. She also founded the Ted Arison Family Foundation. Her older brother, Micky Arison, is chairman and CEO of Carnival Corp. and the owner of the Miami Heat. He is worth about $6.1 billion, according to Forbes. The Arisons’ father founded Carnival.

The nine-bedroom, 10-bathroom Bal Harbour estate was on the market with Oren Alexander of the Alexander Team at Douglas Elliman. It was most recently asking $50 million. Alexander declined to comment on the seller or the buyer, who he also represented.

The two-story mansion, with a guest house, a pool and dock, sits on more than an acre of land with 178 feet of bay frontage. It was built in 1977 and was expanded throughout the years.

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276 Bal Bay Drive (Lifestyle Production Group)

276 Bal Bay Drive (Lifestyle Production Group)

Property records show Arison owned the home with her ex-husband Ofer Glazer, until he transferred full ownership to her in 2007.

The sale, which has not yet been recorded, marks one of the priciest residential sales in Bal Harbour. Last summer, investor Joseph Imbesi sold three adjacent properties on Bal Bay Drive, including a waterfront property at 200 Bal Bay Drive, on the site of the former yacht club, for $54.9 million. In a separate deal, Imbesi sold the house at 196 Bal Bay Drive and the lot next door at 192 Bal Bay Drive for $43 million to WeWork founder Adam Neumann.

Overall, residential sales have begun to slow in Miami-Dade County, though properties continue to trade in the ultra high-end sector.

Alexander said the latest Bal Harbour sale was one of six his team brokered in South Florida over the course of a week totaling $100 million, including two sales on Pine Tree Drive in Miami Beach and luxury condos in oceanfront buildings in Bal Harbour and Miami Beach.

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