One of former Vice President Mike Pence’s brothers purchased a Venetian Islands home in Miami Beach earlier this year, The Real Deal has learned.
Thomas J. Pence and his wife, Melissa, paid $4.7 million for a non-waterfront house on Rivo Alto Island. Pence is a founding partner at the Indianapolis-based investment firm Sapient Capital.
Douglas Elliman’s Pablo Alfaro and Miltiadis Kastanis represented the seller, Alexander Drosin and Kathleen Horne, according to the Multiple Listing Service. Drosin leads business development for the Italy-based software development firm Deltatre, which was acquired by Bain Capital in 2022.
Dora Puig of Luxe Living Realty represented the buyers, the listing shows.
The Pences paid cash for the two-story, 2,743-square-foot Mediterranean-style home. No mortgage was recorded. The three-bedroom, three-bathroom home was built in 1937 and previously traded for $2.8 million in 2021, property records show.
It features a pool, covered terrace and outdoor shower, as well as a chef’s kitchen and marble fireplace indoors.
The former vice president has five siblings, including Thomas and their brother, U.S. Rep. Greg Pence. They were raised in Columbus, Indiana.
Property values have soared on the Venetian Islands, a chain of man-made islands between the mainland and Miami Beach’s barrier island.
Earlier this year, developer James Curnin’s Clara Homes sold an unfinished waterfront spec house on San Marino Island for $23.1 million. Justin Korsant, CEO of Miami-based family office Long Light Capital, bought the home.
Jerome Peribere, retired CEO of the packaging company that makes Bubble Wrap, and his wife, interior designer Isabelle Peribere, sold their waterfront home at 1378 South Venetian Way for $17.4 million.
Both of those recent deals were brokered by Dina Goldentayer of Douglas Elliman, who lives on the Venetian Islands and has brokered 66 deals there.