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Du Pont scion sells waterfront Venetian Islands home for $16M

Deal marks steep discount from the $26.5M first asking price

<p>A photo illustration of the late Colgate Darden along with an aerial view of 250 West San Marino Drive in Miami Beach (Getty, Google Maps, The Jeffersonian 1957-1958 &#8211; Public domain, via Wikimedia Commons)</p>

A photo illustration of the late Colgate Darden along with an aerial view of 250 West San Marino Drive in Miami Beach (Getty, Google Maps, The Jeffersonian 1957-1958 – Public domain, via Wikimedia Commons)

Colgate Darden IV, the grandson of a prominent Virginia politician and a scion of the du Pont family, sold a waterfront Venetian Islands house in Miami Beach for $15.5 million.

The closing price was a steep discount from the $26.5 million Darden first listed the San Marino Island home for in 2022. Records show he sold the house at 250 West San Marino Drive to Private World, a Florida LLC registered to Burcin Ozel. 

Mariana Niro of Serhant had the listing, and Sivan Erten of Erten Realty brought the buyer.

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Darden is the grandson of the late Colgate Darden, Jr., the 54th governor of Virginia and the third president of the University of Virginia. UVA’s Darden Graduate School of Business Administration is named for him. Darden Jr.’s wife and Darden IV’s grandmother was Constance Simons du Pont, daughter of Irénée du Pont, who served as president of his family’s DuPont chemical company and was one of the wealthiest Americans in the 20th century, according to published reports. Darden IV is the son of the late Colgate Darden III, a nuclear physicist who spent most of his career at the University of South Carolina in Columbia. He also worked on government projects at Los Alamos National Laboratory, the site of the Manhattan Project that led to the creation of the first nuclear weapons. 

Darden IV bought the West San Marino Drive home for $3.8 million in 2012, records show. The 4,400-square-foot house was built on half an acre in 1952, according to property records. The home has three bedrooms, three bathrooms, one half-bathroom, a pool, 120 feet of waterfront and a dock. He completed extensive renovations in the last decade, according to property records. 

Darden first listed the home for $26.5 million in 2022, and slashed the price several times before selling it for an $11 million discount off the original asking price.It marks the latest Venetian Islands sale in a busy season jump-started by the November election. Last month, Shark Tank investor Rohan Oza bought a waterfront house for $13.5 million. In November, the family of a late prominent attorney sold a waterfront home for $27.5 million in an off-market deal.

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