Professional race car driver and investor Chapman Ducote sold his Venetian Islands home for $8.4 million.
Ducote sold the five-bedroom, five-bedroom, 3,788-square-foot house at 1276 South Venetian Way in Miami Beach to Tracey Hirt, chief operating officer of LendUs, a mortgage lender based in California, property records show.
Ducote is also president and CEO of a Miami Beach-based credit card processing company, Merchant Services Ltd. And he is also part owner of Silverpeak, a marijuana dispensary in Aspen, Colorado, according to the Aspen Times.
The San Marco Island house, built in 1935, sold for $1,875 per square foot. Allan Kleer and Fabian Garcia-Diaz of One Sotheby’s International Realty brokered the deal, they said.
The house was listed for $11.45 million. It was built in 1935, with additions in 1982 and 2003. It sits on a 10,500-square-foot lot.
Ducote paid $1.85 million for the property in 2010.
Last month, a Venetian Islands estate hit the market for $34 million. The waterfront mansion, at 1429 North Venetian Way, is owned by the former CEO of Bolthouse Farms.
Recent sales on the Venetians include the $5.5 million trade of the waterfront home at 320 West Rivo Alto Drive, which closed in February.
Write to Katherine Kallergis at kk@therealdeal.com