In a recent flurry of luxury real estate transactions across South Florida, an eclectic mix of buyers, including a former Canadian senator, the spouse of the Barnes & Noble founder, a spa chain magnate, and prominent real estate developers, have secured prestigious properties. Spanning from Miami Beach to Wellington, these deals ranged between $8 million and $12 million.
Miami Beach
Developer brothers Ghassan and Roger Abboud acquired a waterfront property on the Venetian Islands for $8 million, a notable $2 million less than its previous sale price. The home, located at 325 East San Marino Drive, was purchased from Franklin Management Company, managed by John A. Franklin. Despite being listed for $13.9 million shortly after Franklin’s acquisition, the price was reduced multiple times before selling at a loss. The Abbouds plan to develop a spec home on the quarter-acre site, which currently houses a 1940-built, 3,200-square-foot residence with four bedrooms, a pool, and a dock.
West Palm Beach
In West Palm Beach, David Brule and his wife Thu Brule sold their Bristol condo for $12 million after upgrading to a waterfront home for $16.6 million. Their buyer, former Canadian Senator Linda Frum, along with her husband Howard Sokolowski, adds political and entrepreneurial prestige to the mix. The 4,400-square-foot Bristol unit, bought by the Brules for $5.6 million in 2020, boasts three bedrooms and luxurious finishes. Meanwhile, their new home, a 6,600-square-foot property with five bedrooms, reflects the upscale migration within the city.
Jupiter
Spa industry magnate John Marco, founder of Hand & Stone Massage and Facial Spa, purchased a newly constructed home in Admirals Cove for $8.7 million. The 5,200-square-foot house, previously owned by Charlton C. Holmes of Holmes Honda fame, features four bedrooms and state-of-the-art amenities. Initially listed for $10 million, the price was adjusted to reflect market conditions.
Wellington
Ramin Arani, former CFO of Vice Media, and his wife Stacey Arani sold their Wellington home to Louise Riggio, wife of Barnes & Noble founder Leonard Riggio, for $8.1 million. The 7,200-square-foot residence, which the Aranis acquired for $3.2 million in 2018, includes four bedrooms and an expansive pool area. This transaction highlights the continued appeal of Wellington’s equestrian lifestyle, drawing notable figures from various industries.
These transactions underscore the dynamic and resilient nature of South Florida’s luxury real estate market, attracting a diverse array of affluent buyers seeking both investment opportunities and upscale living.
Read related article Notable Moguls Make Massive Investments in South Florida Homes
