Venture capitalist Shervin Pishevar, an early investor in Uber and Airbnb, tapped Keith Menin to redevelop his Miami Beach mansion, with plans to list it for $35 million, The Real Deal has learned.
Meanwhile, Pishevar is looking to buy a home in the $40 million to $50 million range, said broker Dora Puig of Luxe Living Realty, who will be listing Pishevar’s home. Menin plans to gut renovate the Todd Glaser-developed house and turn it into a modern mansion.
Dora Puig and Keith Menin
Pishevar paid $17 million for the waterfront house at 4647 Pine Tree Drive in 2018. The roughly 13,000-square-foot estate was built in 2013 and sits on a 1-acre lot. It fronts the Intracoastal Waterway.
Once completed, it will have nine bedrooms, 10 bathrooms and three half-baths, plus a glass paddle ball court, pool deck, gym and sauna.
Pishevar co-founded Hyperloop One, now known as Virgin Hyperloop, a high-speed train, as well as Sherpa Capital, the venture capital fund that invested in Uber and Airbnb. He also previously led Menlo Ventures, which invested in Warby Parker and Tumblr under his leadership.
Since Pishevar moved to the Miami area, a number of tech investors have joined him. Most recently, that includes Keith Rabois and Peter Thiel. Puig represented the seller in the $18 million sale of two adjacent waterfront homes on the Venetian Islands to PayPal co-founder Thiel.
Renderings of the house (Photo by Menin Homes Design)
Menin, who leads Menin Hospitality with his cousin Jared Galbut, has been redeveloping mostly Mediterranean-style homes in Miami Beach with his wife, interior designer Evelyn Menin. She will work with Swedish and Mexican designer Alexander Diaz Andersson of Atra Form for the interior design of Pishevar’s mansion. It’s expected to be completed in June and will feature a nearly 3,000-square-foot, flow-through master suite.
Menin recently acquired Cher’s former La Gorce Island mansion for about $17 million. He also sold a waterfront mansion on North Bay Road to Karlie Kloss and Joshua Kushner $23.5 million.