Billionaire businessman Jorge Mas has sold his Coral Gables mansion for $32 million, following a recent high-profile property sale in Miami’s Coconut Grove that exceeded $100 million. The transaction involved a trust owned by Mas and his wife, which transferred the 13,500-square-foot residence at 6312 Riviera Drive to a land trust managed by Richard Barbara. Barbara serves as in-house counsel at the Barreto Group and is CFO of Coral Gables Title + Escrow.
The two-story waterfront home features six bedrooms and six bathrooms on a 1.6-acre lot facing the Coral Gables Waterway. According to public records, Mas’s trust acquired the property for $19.4 million in 2021; prior to that, it changed hands for $14.9 million in 2020.
Mas has often concealed his ownership of residential properties. Earlier this month, sources told The Real Deal that he sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer through an off-market deal that has not yet been recorded with Miami-Dade County. The sources indicated that Mas purchased the waterfront lot earlier this year and resold it after acquiring the LLC holding title.
The luxury real estate market in Coral Gables has seen increased activity recently. Last week, former Royal Caribbean Group chairman and CEO Richard Fain entered into contract to sell his waterfront estate in Gables Estates with an asking price of $37 million.
Jorge Mas is co-founder of construction and engineering company MasTec and serves as managing owner of Inter Miami CF, a Major League Soccer team partially owned by David Beckham. Inter Miami is currently developing a $1 billion mixed-use stadium complex near Miami International Airport, with construction already underway. A partnership including Ares Management secured a $450 million loan from JPMorgan Chase earlier this year to finance the project.
