A six-bedroom waterfront home in Miami’s gated community of Old Cutler Bay has changed
hands for $ 16 million. As Mansion Global has learned, the buyer is J. Michael Arrington, founder of the popular tech website TechCrunch and the cryptocurrency-dominated hedge fund Arrington XRP Capital. The founder buys Miami house in $16 million.
The property sits over half an acre and features a 140-foot waterline with a pool, decking,
coral-adorned fire pit, covered summer kitchen, and a two-car garage. This is evident from the
listing with Jessica Adams with ONE Sotheby’s International Realty.
Ms. Adams listed the property as a “Pending Sale” on April 10th for $ 16.5 million, indicating
that she had already found a buyer when she reached Multiple Listing Services. The
sale closed on Friday for $ 16 million. And TechCrunch founder buys Miami house and closed the deal.
A waterfront home in a gated community was necessary, but they were [the buyers]. I fell in love with the architecture and the seamless connection between inside and outside, said Ms.Adams. If you buy miami house, you can experience what I’m saying.
The transaction still needs to be displayed in the property records. Mr Arrington, 51, did not
immediately respond to a request for comment.
The sellers bought the property in November 2018 for $ 10.4 million.
While most of the waterfront properties in Old Cutler Bay are priced more than $ 10 million,
that sale was the most expensive ever for the neighborhood, Ms. Adams said.
The 8,300-square-foot home was designed by Florida-based architect Cesar Molina in 2015
It has six bedrooms, seven and a half bathrooms, a family room with a wine cellar and wet bar, and is in modern condition. Art kitchen. It also has a home theater, home office, and well-
equipped gym, as per the listing.
We have seen a tremendous increase in high net worth individuals bringing their
businesses and families to Miami,” said Ms. Adams. People are realizing that they can work from anywhere. So why not enjoy a beautiful city with lovely weather?
In Coral Gables, the median sales price of luxury single-family homes rose 126% year over
year to $ 6.3 million in the first quarter, according to a report by Douglas Elliman last month.
The number of luxury sales, defined as the 10% most expensive on the market, rose from 10
sales in the previous year to 14. According to the report, inventory fell from 124 properties
in the market in the first quarter of 2020 to just 44.
The market is characterized by “a combination of higher demand and lack of inventory,” said
Ms. Adams. People are willing to pay more when they find the perfect product because it’s
tough to find. We are working on off-market deals more than ever.