Self-storage mogul sells lakefront Coral Gables home for $10M

Self-storage mogul Jay Massirman sold his longtime Coral Gables home for $10 million.

Records show Massirman and his ex-wife, Lisa Massirman, sold the house at 5275 Hammock Drive to a Florida LLC named for the address. 

Judy Zeder of the Jills Zeder Group at Coldwell Banker had the listing, and Domenica Dassum of One Sotheby’s International Realty brought the buyer.

The buying entity is managed by Rosa Chapur, who appears to be a member of the Chapur family. The Chapurs are one of Mexico’s wealthiest families, known for their hospitality brand Palace Resorts, which was an early pioneer of the all-inclusive resort concept. 

Massirman is the founding partner of Basis Industrial, a self-storage and industrial real estate firm based in Coconut Grove. The firm was founded as Miami City Self Storage more than 25 years ago, and owns more than 15 million square feet of real estate according to its website.

Basis dropped $37.5 million on a mixed-use industrial facility in Medley in July. 

Built in 2004, the 6,600-square foot home sits on a one-acre lot and has six bedrooms, six bathrooms, and two half-bathrooms, records show. It also includes a three-car garage with a gym, a basketball half-court, and a pool, according to the listing. The property is in the Hammock Lakes gated community, and fronts one of the man-made lakes in the area.

Jay and Lisa Massirman bought the lakefront estate for $3.7 million in 2005, records show. The pair filed for divorce in 2021, and finalized the split last year, according to Miami-Dade court records. They first listed the home for just under $14 million in October 2021, Realtor.com shows. 

Zeder said that after a couple of price reductions, they found a number that appealed to multiple buyers. 

“I think we priced right at the end, and it sold,” she said.

Coral Gables is a favorite area among luxury buyers in South Florida.

Trial attorney John Ruiz sold his waterfront mansion for $30 million in January, down from the initial $45 million asking price. 

Over the summer, Jeff Bezos’ parents, Jackie and Mike Bezos, bought not one, but two waterfront Coral Gables mansions. They bought their first mansion for $34 million, and the second one next door for $44 million. Both deals closed in July for a combined $78 million.

In April, University of Miami head football coach Mario Cristobal dropped $7.9 million on a non-waterfront mansion near Coral Gables.