After selling two high-profile properties for a combined sum exceeding $130 million, billionaire businessman Jorge Mas has acquired a new waterfront mansion in the Gables Estates neighborhood of Coral Gables.
Mas, who serves as chairman and co-founder of construction and engineering firm MasTec, purchased a 15,400-square-foot residence on Casuarina Concourse. The home features eight bedrooms, ten bathrooms, and three half-bathrooms, and sits on a 1.2-acre lot. Completed last year, the property’s sale was finalized through a quit-claim deed transfer recorded in late December. While the official price was not disclosed in public records, a source told The Real Deal that Mas paid $75 million for the estate.
This transaction sets a new record for residential sales in Coral Gables. Previously, luxury homebuilder Alex Pirez sold his mansion at 340 Leucadendra Drive for $55 million last year—a record at that time.
Attorney Roland Sanchez-Medina signed the deed on behalf of the seller. Mas’ ownership is held through a land trust.
In December, Mas and his wife sold their 13,500-square-foot home at 6312 Riviera Drive to another land trust managed by attorney Richard Barbara. Around the same period, Mas also sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer. That off-market deal was not recorded with Miami-Dade County; sources said Mas had bought and flipped the waterfront lot this year by acquiring the LLC that owned it.
Forbes estimates Jorge Mas’ net worth at approximately $3.5 billion. In addition to his leadership role at MasTec, he is managing owner of Inter Miami CF—a Major League Soccer team co-owned by David Beckham—which is currently developing a mixed-use soccer complex near Miami International Airport.
Residential brokers report increased activity from billionaire buyers since early December. Some attribute this trend to concerns over proposed wealth taxes in California. For example, Google co-founder Larry Page recently spent about $173 million on two homes in Coconut Grove: a 4.5-acre waterfront compound at 3585 Anchorage Way and a 10,400-square-foot mansion at 3085 Munroe Drive.
