Mariela Chiriboga sold her oceanfront Miami Beach home for $20.5 million.
Records show Chiriboga sold the house at 7737 Atlantic Way in Altos Del Mar to a trust named for the address. Miami-based attorney Mark Bryn signed on behalf of the trust. The true buyer is unknown.
Julian Johnston of Corcoran represented Chiriboga in the sale. David Kreps of Sterling Equity Realty brought the buyer.
Chiriboga is a relative of Andres Isaias, the Ecuadorian-born founder of Miami-based spec home developer Andian Group.
Chiriboga bought the roughly 7,000-square-foot home for $9.6 million in 2015, according to records. Built in 2012, the three-story house has six bedrooms and seven bathrooms. According to the listing, the house also includes an elevator, wine cellar and private ocean access.
The property sits on 0.4 acres in Altos Del Mar, a gated oceanfront neighborhood that’s south of the North Beach Oceanside Park, between 77th and 79th streets. It is Miami Beach’s only neighborhood where houses front the beach
Demand for waterfront property in Miami Beach has skyrocketed in the years since Chiriboga bought the home. Fueled by pandemic migration and limited inventory, waterfront property prices have surged.
Matthew Whitman Lazenby, owner of Bal Harbour Shops, sold his oceanfront Altos Del Mar mansion for $21 million in June to an LLC with ties to the billionaire Metropoulos family. Lazenby bought the property for $18 million the year prior. Victor Ciardelli, the CEO of Chicago-based Guaranteed Rate, bought an oceanfront Altos Del Mar house and adjacent lot for $37.5 million in May of last year.
A Miami insurance chief sold his waterfront home for $16 million earlier this month, a record for the Normandy Isle neighborhood.
Also this month, Ken Griffin sold one of his waterfront Star Island lots to baseball star-turned-investor A Rod for a discounted $18.5 million.
Lil Wayne also recently listed his waterfront home on Allison Island for $29.5 million, asking almost $13 million more than the rapper’s purchase price in 2018.