French food entrepreneur Paul Bensabat sold his waterfront Allison Island home in Miami Beach for $17 million, in an off-market deal.
Records show Bensabat and his wife, Sandrine Bensabat, sold their house at 6580 Allison Road to Grove Invest LLC, a Florida entity. The true buyer is hidden.
Paul Bensabat is the owner, president and CEO of Saveur Food Group, a private equity firm that invests in food and food tech companies. He was previously president of Manischewitz Company, one of the largest kosher food distributors in North America.
The Bensabats had previously listed their home for $17.5 million, but removed it from the Multiple Listing Service in September, Redfin shows. Annick Timmer of The EBH Group represented the buyer and seller.
Julian Johnston of the Corcoran Group previously had the listing, according to his Instagram.
The couple bought the Allison Island home for $2.3 million in 2002, records show. Built in 2001 on 0.4 acres, the 7,000-square-foot house has five bedrooms, five bathrooms, one half-bathroom and a pool, according to property records.
Records show the Bensabats bought a penthouse in Williams Island 2800 Tower in Aventura for $4.1 million in October.
Allison Island, one of Miami Beach’s coveted luxury island communities, saw a surge in demand and price growth during South Florida’s pandemic real estate boom. In July, former watch retailers sold a waterfront teardown for $17.6 million, after buying the mansion for $14.5 million in 2021. Rapper Lil Wayne sold his waterfront mansion for $22.6 million in February, records show. Another award-winning rapper, Future, bought a waterfront house on the island for $16.3 million in November of 2022.