Daniel Vorcaro, former head and largest shareholder of Banco Master, is under investigation by Brazilian authorities after the central bank shut down the Rio de Janeiro-based institution earlier this month. Officials allege that Banco Master engaged in fraudulent activities by creating fake credit operations and selling them to Banco de Brasília SA as part of a multibillion-dollar scheme. Vorcaro was arrested on November 18 as part of the ongoing investigation.
Vorcaro is connected to several high-value real estate purchases in Miami, including at least two condominiums and two homes acquired between 2023 and early 2025, according to sources and property records. Among these acquisitions is a waterfront mansion at 4445 and 4425 Sabal Palm Road in Bay Point, purchased for $85.2 million through a Delaware LLC in January—a record price for the neighborhood. The same LLC bought another house across the street for $6.9 million a month later. Construction activity has been noted on the waterfront property, with demolition permits issued in August and new construction permits following in September.
Other properties linked to Vorcaro include a condo at Asia on Brickell Key and a penthouse at Missoni Baia in Edgewater. The current status of these assets remains uncertain should charges against Vorcaro lead to conviction; he was still in custody as of Wednesday.
Banco Master also established ties with Miami last year when it leased 26,000 square feet at 830 Brickell for $190 per square foot—a record rent rate for Florida—but that office now stands vacant.
In other residential news, Surfclub 11 LLC purchased an $86 million penthouse at Seaway North at The Surf Club (9149 Collins Avenue), developed by Fort Partners led by Nadim Ashi. On the commercial side, The Comras Company acquired a portfolio of stores along Lincoln Road and Lincoln Lane from Morgan Stanley for $130.8 million.
Joel Weinshanker, who leads a national collectible association and manages Elvis Presley Enterprises, has listed his waterfront mansion at 360 South Hibiscus Drive in Miami Beach for $49.5 million. The over-12,000-square-foot home features seven bedrooms and eight bathrooms; it was designed by Argent Design with architect Kobi Karp and is represented by Devin Kay of Douglas Elliman’s Exclusive Group.
West Palm Beach has experienced significant growth in luxury home prices over the past decade—an increase of 187 percent—making it the fastest-growing major U.S. metro market according to Redfin data. The median price for luxury homes there now exceeds $4 million.
