Daniel Vorcaro, the former head and largest shareholder of Banco Master, is at the center of a major banking scandal in Brazil that has now reached Miami. Earlier this month, Brazil’s central bank shut down Banco Master following allegations from authorities that the Rio de Janeiro-based bank engaged in fraudulent credit operations. These fake credits were reportedly sold to Banco de BrasÃlia SA as part of a scheme involving billions of dollars. Vorcaro was arrested on November 18 as part of the ongoing investigation.
Vorcaro is connected to several luxury properties in Miami, including two condominiums and two homes acquired between 2023 and early 2025, according to property records and sources. His most significant purchase is a 20,500-square-foot mansion located at 4445 and 4425 Sabal Palm Road in Bay Point, a gated neighborhood in Miami. A Delaware LLC paid $85.2 million for this waterfront estate in January, setting a record for Bay Point. The same LLC bought another house across the street for $6.9 million a month later.
Construction activities are underway at the waterfront mansion; demolition permits were issued in August and new construction permits followed in September. The property features a 1.7-acre lot with extensive bay frontage and two docks.
If Vorcaro faces charges and is convicted, it remains unclear what will happen to his Miami real estate holdings, which also include units at Asia on Brickell Key and Missoni Baia in Edgewater. As of Wednesday, he remained in custody.
Banco Master itself established ties to Miami last year by leasing 26,000 square feet at 830 Brickell for $190 per square foot—a record rate for Florida—but that office space currently stands empty.
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 under Nadim Ashi.
On the commercial side, The Comras Company acquired retail properties along Lincoln Road and Lincoln Lane from Morgan Stanley for $130.8 million.
Joel Weinshanker—who heads a national collectibles association and manages Elvis Presley Enterprises—is seeking to sell his waterfront mansion at 360 South Hibiscus Drive in Miami Beach for $49.5 million. The home spans over 12,000 square feet with seven bedrooms and eight bathrooms; it was designed by Argent Design alongside architect Kobi Karp and is listed with Devin Kay of Douglas Elliman’s Exclusive Group.
Luxury home prices have surged dramatically in West Palm Beach over the past decade; according to Redfin data cited by Redfin, prices have increased by 187 percent—the fastest among major U.S. metropolitan areas—with median luxury home values now exceeding $4 million.
