Argentinian developer Alan Faena is looking to sell his waterfront Miami Beach estate.
Faena is putting the 8,300-square-foot, nine-bedroom mansion on the market for $16.5 million, according to the Wall Street Journal.
Property records show Faena’s Villas Como LLC paid $10.3 million for the 1-acre property at 4731 Pine Tree Drive in 2014.
The Mediterranean-style property, which was built in the 1920s, features a master suite with a custom walk-in closet designed by Faena, a master bathroom with a Louis XV mirror, original 19th century Spanish chandeliers and hand-painted ceilings, the Wall Street Journal reported.
About a year ago, Page Six reported that Faena and his partner, Ximena Caminos, were splitting up. They have a son together.
In Miami Beach, Faena and his financial backer Len Blavatnik built the Faena District, a 1 million-square-foot mixed-use project on Collins Avenue between 32nd and 36th streets. It’s home to the 18-story Faena House condo building, the 169-key Faena Hotel, Faena Forum and Faena Bazaar.
Oren Alexander of Douglas Elliman has the listing for Faena’s home. Alexander is also listing Caminos’ home at 5454 Pine Tree Drive, which hit the market in April for $6.25 million and was recently reduced to just under $6 million.
At The Real Deal’s Miami Real Estate Showcase & Forum in October, Alexander said luxury residential properties are sitting on the market in part due to bad pricing. [WSJ] – Katherine Kallergis