Billionaire Jorge Mas has sold his waterfront mansion in Coral Gables for $32 million. The property, located at 6312 Riviera Drive, was transferred by a trust owned by Mas and his wife to a land trust managed by attorney Richard Barbara. Barbara serves as in-house counsel at the Barreto Group and is CFO of Coral Gables Title + Escrow.
The two-story residence covers 13,500 square feet and includes six bedrooms and six bathrooms. It sits on a 1.6-acre lot along the Coral Gables Waterway. Public records show that Mas’ trust acquired the home for $19.4 million in 2021; prior to that, it sold for $14.9 million in 2020.
Mas is known for keeping his residential property ownership private. Earlier this month, sources told The Real Deal that he also sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer through an off-market transaction that has not yet been recorded with Miami-Dade County authorities.
Luxury home sales have increased recently in Coral Gables. Last week, Richard Fain, former chairman and CEO of Royal Caribbean Group, signed a contract to sell his waterfront estate in Gables Estates with an asking price of $37 million.
Jorge Mas co-founded MasTec, a major construction and engineering company, and is managing owner of Inter Miami CF, the Major League Soccer team co-owned by David Beckham. Inter Miami is currently developing a $1 billion mixed-use stadium project near Miami International Airport; construction has started on the site.
Earlier this year, the development partnership secured financing for the stadium project with a $450 million loan from JPMorgan Chase.
