Billionaire Jorge Mas linked to $100M+ sale of waterfront Coconut Grove property

A company tied to billionaire businessman Jorge Mas sold a waterfront property in Miami’s Coconut Grove for more than $100 million, The Real Deal has learned.

The sale of the 7.3-acre residential lot off of Douglas Road next to the Kampong botanical garden marks one of the priciest residential sales this year in Miami-Dade County. Sources told TRD that Mas sold the property. Records show a company managed by a Coral Gables law firm is the seller.

The off-market trade has not yet been recorded with Miami-Dade County, and the buyer is unknown.

Bespoke Real Estate’s Brett Harris posted on Instagram that he represented the buyer of a $100 million-plus transaction that closed on Tuesday, but he declined to comment or disclose the address or any details about the sale. Developer Alex Pirez of Mocca Realty represented the seller, according to the social media post and a sign fronting the lot. Pirez also declined to comment.

Sources said Mas purchased the property this year and is flipping the waterfront lot. His purchase was not recorded, and it suggests that he acquired the LLC that owned the lot. The previous owner was tied to Ella Fontanals-Cisneros, a Cuban-born Venezuelan art collector.

Mas’ ownership of the property was private. The prominent Miami businessman, who is board chairman and co-founder of the construction and engineering giant MasTec, is also managing owner of Inter Miami CF, the Major League Soccer team part-owned by David Beckham.

Inter Miami is building a $1 billion mixed-use stadium development near Miami International Airport. Construction is underway. Earlier this year, the partnership, which includes Ares Management, secured a $450 million loan from JPMorgan Chase for the project.

Mas’ past residential real estate purchases have also been hidden from the public. In 2021, an LLC tied to him sold the waterfront mansion at 3085 Munroe Drive, also in Coconut Grove, for nearly $46 million.

The $100 million-plus sale of the property next to the Kampong in Coconut Grove marks one of the most-expensive single-family residential land sales in Miami-Dade County ever.

In 2022, billionaire hedge fund manager Ken Griffin paid nearly $107 million for the waterfront 4-acre estate that belonged to Adrienne Arsht at 3031 and 3115 Brickell Avenue, also in Coconut Grove. Griffin plans to redevelop the property. Earlier this year, he announced plans to move the historic Villa Serena home to the nearby Vizcaya Museum and Gardens.

This article originally appeared on The Real Deal. Click here to read the full story.