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Magnetics heir drops $24M on Gables Estates mansion after selling Indian Creek estate
Geert-Jan Bakker sold his former home for $65M last month
Magnetics heir Geert-Jan Bakker is downsizing to a $23.5 million Coral Gables waterfront mansion after selling his Indian Creek Village compound for $64.5 million last month.
Records show a trust led by Bakker bought the house at 365 Arvida Parkway in Gables Estates from an LLC named for the address and managed by health tech executive Ricardo Rivera.
Saddy Delgado of One Sotheby’s International Realty had the listing, and Mirce Curkoski and Albert Justo with the Waterfront Team at One Sotheby’s International Realty brought the buyer. Curkoski and Justo declined to comment on the deal.
Bakker is the heir to his parents’ Netherlands-based Bakker Magnetics, a magnetic product maker. Last month he sold his 1.2-acre waterfront Indian Creek estate for $64.5 million, on the heels of Jeff Bezos’ $237 million shopping spree on the private island.
Rivera is COO of MSP Recovery, a Coral Gables-based software company whose tech helps track health insurance claim payments. Its CEO is John Ruiz, a prominent attorney who sold a waterfront teardown in Gables Estates for $27.5 million last year.
Rivera bought the Arvida Parkway mansion for $8.5 million in 2019, records show. Built in 2003 on 0.9 acres, the 9,500-square-foot house includes six bedrooms, six bathrooms, two half-bathrooms, a pool and dock, records show. It spans 180 feet of waterfront, Delgado confirmed.
Rivera listed the mansion for $31.8 million last year, and dropped the price twice before selling it at an $8.3 million discount, according to Realtor.com.
The buyer will be renovating parts of the property, which has had intermittent updates by the last two owners, Delgado confirmed. She said Gables Estates inventory priced between $20 million and $30 million has dwindled, even more so for buyers seeking newly constructed homes.
“We’re seeing a lot more purchases being done on [homes that need] renovations or minor work,” Delgado said.Other recent Gables Estates deals include Odevo U.S. CEO Paul Kaplan’s $14.8 million purchase of a waterfront house earlier this month. In January, shoe magnate Carlos Musso sold his waterfront home to spec developers for $22 million. That same month, Bird founder Travis VanderZanden sold his waterfront mansion for $26 million.