A Brazilian silicon manufacturing heir bought a Key Biscayne home for $6.9 million.
Records show Leonardo Simoes Zica and Juliana Ribeiro Zica bought the house at 401 Ridgewood Road from Miguel Quintero. Leonardo Simoes Zica is the son of Belo Horizonte, Brazil-based Minasligas board member Sandra Simoes Zica. Both were named in the 2016 Panama Papers for their ties to SZ Investments, a company registered in the British Virgin Islands.
Mark Chatburn of Chartburn Real Estate Redefined represented the buyers.
The seller, Quintero, is a broker with Avanti Way and represented himself in the deal. Records show he bought the house for $1.7 million in 2019. Quintero finished construction on the 4,464-square-foot, five-bedroom, five-bathroom house last year, according to records. The 0.2-acre property includes a pool and outdoor kitchen.
This is not the first Key Biscayne purchase for the Zicas. Records show the couple bought a newly built house in 2015 for $3.6 million. They sold the nearly 4,000-square-foot, five-bedroom, five-bathroom home at a loss, for $3.4 million, in 2016.
Key Biscayne homes are often in demand among wealthy Latin Americans and other foreign buyers. This summer, controversial Italian soccer club owner Massimo Cellino sold his waterfront Key Biscayne mansion for $15 million after holding the property for almost 15 years.
Among other sales in Key Biscayne, the former CEO of the French vaccine manufacturer Sanofi bought a waterfront home for $7.5 million last year, and a Spanish media executive once caught in the 2015 FIFA World Cup scandal sold a nearby waterfront property for $8.3 million.