Billionaire businessman Jorge Mas continues to make significant moves in South Florida real estate. Following his sale of a waterfront property in Miami’s Coconut Grove for more than $100 million, the MasTec chairman has now sold his Coral Gables mansion for $32 million.
A trust controlled by Mas and his wife completed the sale of the 13,500-square-foot residence at 6312 Riviera Drive to a land trust overseen by attorney Richard Barbara. Barbara serves as in-house counsel at the Barreto Group and is also CFO of Coral Gables Title + Escrow.
This two-story, waterfront home features six bedrooms and six bathrooms, and occupies a 1.6-acre lot along the Coral Gables Waterway. Mas’ connection to the property had previously been concealed from public records. According to documents, his trust acquired the mansion in 2021 for $19.4 million; prior to that, it changed hands in 2020 for $14.9 million.
Mas frequently keeps his residential property ownership private. Recently, he sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer, sources told The Real Deal earlier this month. The off-market sale is not yet recorded in Miami-Dade County, and the purchaser’s identity remains unknown. Sources indicate Mas bought the waterfront parcel earlier this year and quickly resold it, possibly by acquiring the LLC that held the title—since the purchase itself was not recorded in county records.
Luxury home sales have been rising in Coral Gables. Just last week, Royal Caribbean Group’s former chairman and CEO, Richard Fain, entered into a contract to sell his waterfront estate in Gables Estates, which was listed for $37 million.
Mas is the co-founder of MasTec, a leading construction and engineering company, and also serves as managing owner of Inter Miami CF, the Major League Soccer team partly owned by David Beckham. Inter Miami is currently developing a $1 billion mixed-use stadium near Miami International Airport, with construction already underway.
Earlier this year, the group—which includes Ares Management—secured a $450 million loan from JPMorgan Chase to support the stadium project.
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