Billionaire Jorge Mas and his wife sold their Pinecrest estate for $13.9 million, marking a record for the South Florida town.
The buyer, the village of Pinecrest, plans to use the 5-acre property at 11855 Southwest 60th Road as a park and indoor facility. Mas, a majority owner of Miami’s Major League Soccer team, Inter Miami, is donating $3.9 million back to the village in exchange for naming rights. Florida Bulldog first reported on the village approving the sale. The park will be named after Mas’ wife, Aleyda Mas.
The deal closed on Thursday, a spokesperson for the buyer’s agent, Joshua Kaufman with The Buchbinder Group at Compass, told The Real Deal. Mocca Realty’s Diana Gutierrez and Jorge Mas Jr. represented the sellers. Jorge Mas Jr. joined Mocca Realty this week, state records show.
Mas, who is worth $1.2 billion, according to Forbes, is chairman of MasTec, the Coral Gables-based construction and engineering giant that was founded by his late father, Jorge Mas Canosa. Mas is also managing owner of Inter Miami and president of the Spanish football club Real Zaragoza.
Inter Miami plans a major mixed-use complex called Miami Freedom Park on the site of the city-owned Melreese golf course in Miami. The team, which last year scored soccer great Lionel Messi, has been playing at Drv Pnk Stadium in Fort Lauderdale.
Mas was not living in the Pinecrest property, the village manager said at a meeting late last year, according to Florida Bulldog. It’s unclear where he and his wife are living. In 2021, Mas sold his waterfront Coconut Grove mansion to nutrition moguls Roger and Sloan Barnett for nearly $46 million, sources told TRD. Mas keeps his home ownership private; both the Pinecrest and Coconut Grove mansions were owned by hidden land trusts.
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The Pinecrest home was previously owned by the Montgomery family, which contributed to the creation of Fairchild Tropical Botanic Garden. Raymond Jungles designed the original landscaping of Mas’ home, which includes trails, gardens, a lagoon, tennis court, and an 11,000-square-foot main house with five bedrooms, eight bathrooms and two half-baths. It was completed between 1980 and 1982 and is in need of repairs, according to Florida Bulldog.
A number of sales in recent years have set new records in Pinecrest. In October, a spec developer sold the mansion at 10860 Southwest 67th Court to a hidden buyer for $11.2 million, marking the previous record. In June, retired Boston Red Sox first baseman David Ortiz sold his Pinecrest mansion for $10.6 million, now the third most expensive sale in the village.