Palazzo style

Miami’s ‘Condo King’ lists Coconut Grove villa for $ 33 million

Jorge Pérez, a billionaire real estate developer widely dubbed Miami’s “King of Condos”, is listing his own mansion in the Coconut Grove section of Miami for $ 33 million.

One of 10 houses in Hughes Cove, a private gated community, the “Villa Cristina” is a Venetian palace style home that spans over 10,000 square feet on three levels. It has 482 feet of water frontage with a private dock and overlooks Biscayne Bay, as described in the listing.

Jill Hertzberg, who shares the list with Jill Eber of the Jills Zeder group at Coldwell Banker Realty, said the six-bedroom house was completed in 1996 with the help of Italian craftsmen who were airlifted for the project. Its Mediterranean-style exterior is covered in ivy, which wraps around stone pillars and a set of dressed stone arches on the rear patio.

The property also includes an entrance courtyard with a fountain, library and wood-paneled study with coffered ceilings, a gym, formal dining room, outdoor infinity pool, jacuzzi and fire pit.

The Venetian palazzo-style home of Miami’s “Condo King”

Jorge Pérez’s Coconut Grove Residence was built with the help of Italian artisans and overlooks Biscayne Bay.

Miami’s “king of condos,” Jorge Pérez, is advertising his Coconut Grove home for $ 33 million.

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Ms. Hertzberg and Ms. Eber declined to comment on questions regarding the seller; Ownership records show that Mr. Pérez purchased the Coral Gables site in 1994 for $ 1.45 million. Mr. Pérez is CEO of Related Group, a leading real estate development company in the Miami area. (This is not related to New York-based Related Cos.) Mr. Pérez declined to comment.

Ms Hertzberg said Coconut Grove has seen a major resurgence in high-end real estate activity over the past two years, as have nearby Palm Beach and Miami Beach. Much of the activity in South Florida has been driven by wealthy Wall Street residents buying property amid the pandemic, the Wall Street Journal reported. “It got explosive,” Ms. Hertzberg said.

Records show Mr Pérez owns other properties in Miami, including a penthouse in the upscale One Ocean condominium, which he bought for $ 4.2 million while under construction, the Wall reported. Street Journal. He listed this property for $ 20 million in 2016, but then slashed the price by nearly half after the Miami market stalled before the pandemic. It was taken off the market last year, Zillow shows.

Write to Katherine Clarke at [email protected]

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