Isaac Kodsi, the brother of the Paramount Miami Worldcenter developer, bought a Coconut Grove estate at a $9 million discount from its original listing price.
Kodsi, an attorney and owner of Ark Financial Group, and his wife Teresita Menendez Kodsi, paid $6.6 million in an auction for a 7,000-square-foot home at 2131 South Bayshore Drive. The price equates to $942 per square foot, records show.
The home was initially listed for $15.8 million by Lourdes Alatriste with Engel & Völkers Miami, according to Realtor.com. The sale price represents a 58 percent discount from the original listing price.
Tierra Firme Land Trust sold the property.
The Kodsis recently sold their house at 4412 North Bay Road in Miami Beach to an undisclosed buyer for $13 million. The home has seven bedrooms, eight-and-a-half bathrooms and nearly 10,000 square feet of space.
The couple’s new house in Coconut Grove sits on a 1-acre lot and has six bedrooms and seven-and-a-half bathrooms. It was the former home of John T. Peacock, one of the founders of Coconut Grove, according to Realtor.com. The home features a pool, chef’s kitchen with butler’s pantry, and two private guest suites.
Kodsi’s brother Dan is the developer of Paramount Miami Worldcenter, a 60-story, 530-unit condo tower at the mixed-use, master-planned Miami Worldcenter.