The real estate market in South Florida continues to boom and this time, it was the renowned Cuban-American couple Gloria and Emilio Estefan who made an important move. As reported by journalist Katherine Kallergis from TheRealDeal portal.
The artists sold their property located in front of the sea in the Ventian Islands, in Miami Beach, indicated the company DI-Little House, which was in charge of the negotiation.
The Estefans ‘ property was purchased by businessman Paul Groll, who financed the purchase with an $8 million mortgage from Key Biscayne-based London Financial.
Casa de los Estefan has five bedrooms
The producer and singer’s property located at 444 West Rivo Alto Drive at Lou Groll Investments LLC has 4,816 square feet, has five bedrooms, and the same number of bathrooms.
In addition, it has been renovated several times and currently has an interior patio, gourmet kitchen, master suite facing the bay, pool, terrace and dock.
Gloria and Emilio Estefan sell waterfront Venetian Islands home https://t.co/MrLWFrod4F
— Carlo Dipasquale (@CarloDipasqual1) May 14, 2022
Gloria and Emilio Estefan acquired the property for $1.2 million in 2000, but from that moment they made different changes.
Artists have other properties in Miami Beach
Today the couple who have achieved countless awards in the music industry owns hotels and restaurants, including the Cardozo South Beach.
In August, they sold their Star Island “guest house,” whose nearly 8,000-square-foot property at 1 Star Island Drive, for its asking price of $35 million.
During the pandemic, several buyers flocked to the Venetian islands to acquire properties due to their low cost.
One of them was venture capital investor and CEO of Crisp Are Traasdahl and his designer wife who recently purchased their oceanfront home in the Venetian Islands for $31.5 million.
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