A firm led by Grammy-winning music icon Emilio Estefan sold a waterfront mansion on the Venetian Islands in Miami Beach for $13.72 million.
Di-Little House, managed by Estefan in Miami Beach, sold the 4,816-square-foot home at 444 W. Rivo Alto Dr. to Lou Groll Investments LLC, managed by Miami businessman Paul Groll . London Financial City National provided a $8 million mortgage to the buyer. Jill Eber of the Jills Zeder Group at Coldwell Banker represented the seller in the deal, while Jill Hertzberg , also from the Jills Zeder Group, worked with the buyer. The price equated to $2,849 a square foot.
The home last traded for $1.2 million in 2000, so its value ballooned more than 10 times over. That shows how Miami Beach has gone from a city of upper income residents to a playground for the ultra-wealthy.
The home was built on the 13,382-square-foot site in 1934 and expanded in 1979. It features five bedrooms, five bathrooms, a fireplace, a wet bar, a pool and a dock.
Born in Cuba, Estefan became a major force in Latin music after moving to Miami. He has won 19 Grammys as a songwriter and producer. He’s the husband of Grammy-winning singer Gloria Estefan .
