Ari Rubenstein, founder of the financial services firm GTS, has purchased a waterfront home on Palm Island in Miami Beach for $15 million. Public records indicate that Rubenstein and his wife, Zaily Rubenstein, acquired the property at 112 Palm Avenue from PL Holdings, which is managed by shipping executive George Burguillos.
The purchase was financed with an $8.3 million mortgage provided by City National Bank of Florida.
Rubenstein established GTS in New York City in 2006 and also founded ClearList, a platform offering private companies an alternative to traditional stock exchanges. He shares three children with his first wife, Atoosa Rubenstein, who previously served as editor-in-chief of Seventeen magazine.
Burguillos bought the property for $8.6 million in 2015. The house spans 5,200 square feet and sits on 0.7 acres along the water. Built in 1958, it features seven bedrooms, six bathrooms, three half-bathrooms, and a pool.
This transaction is among several high-value sales on Palm Island this year. The area has become increasingly attractive to luxury buyers seeking waterfront homes within Miami Beach’s competitive real estate market. In March, Richard Skelhorn—founder of blockchain-based digital casino MetaWin—purchased a mansion at 40 Palm Avenue for $45 million. On social media he stated: “It was 1 a.m. in Dubai, had a few beers when I made the offer.” This set a new record as the most expensive sale ever recorded on Palm Island.
Other notable recent transactions include boxing champion Floyd Mayweather Jr., who sold his own waterfront mansion on Palm Island last year for $22 million after beginning a second career as a real estate investor. Nearby Hibiscus Island also saw significant activity when former Univision CEO Wade Davis sold his mansion for $31.8 million in July.
