Billionaire Jorge Mas has sold his waterfront mansion in Coral Gables for $32 million. The sale comes after Mas, chairman of MasTec and managing owner of Inter Miami CF, previously sold a property in Miami’s Coconut Grove for over $100 million.
According to records, a trust controlled by Mas and his wife transferred ownership of the 13,500-square-foot home at 6312 Riviera Drive to a land trust managed by attorney Richard Barbara. Barbara is the in-house counsel at the Barreto Group and chief financial officer of Coral Gables Title + Escrow. The two-story residence includes six bedrooms and six bathrooms on a 1.6-acre lot that faces the Coral Gables Waterway.
Mas’s purchase of the home was through a trust, keeping his ownership out of public view until now. His trust acquired the property for $19.4 million in 2021; prior to that, it had sold for $14.9 million in 2020.
The billionaire often keeps residential real estate acquisitions private. Earlier this month, sources told The Real Deal that Mas also sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer via an off-market transaction. That sale has not yet appeared in Miami-Dade County records, and details suggest Mas may have acquired the LLC that owned the waterfront parcel rather than purchasing it directly.
Luxury home sales have been rising in Coral Gables recently. Last week, Richard Fain—former chairman and CEO of Royal Caribbean Group—signed a contract to sell his waterfront estate for an asking price of $37 million within Gables Estates.
Mas is known as co-founder of construction firm MasTec and as managing owner of Major League Soccer team Inter Miami CF, which counts David Beckham among its part-owners. Inter Miami is developing a $1 billion mixed-use stadium project near Miami International Airport; construction is currently underway. Earlier this year, Ares Management partnered with Inter Miami to secure a $450 million loan from JPMorgan Chase for the development.
