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Jorge Mas Sells 7.3 Acre Land In Coconut Grove For $100M With Alex Pirez And Brett Harris
SOLD
Florida
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Sold 12/03/2025
Summary
Asset Type:Land
Transaction Type:Sale
A company tied to billionaire Jorge Mas sold a 7.3-acre waterfront residential lot located on Douglas Road in Coconut Grove for $100,000,000. This transaction is one of Miami-Dade’s priciest residential trades this year, reflecting a significant market value.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $100,000,000
- Address: Douglas Road
- Market: Coconut Grove
- Acres: 7.3
- Seller: Jorge Mas
- Seller's Representative: Alex Pirez - Mocca Realty
- Buyer's Representative: Brett Harris - Bespoke Real Estate
The off-market deal, which is not yet recorded, appears to be a flip by Jorge Mas, who reportedly acquired the LLC owning the land earlier this year from an entity connected to art collector Ella Fontanals-Cisneros.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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