Miami’s ‘Condo King’ Lists Coconut Grove Villa for $33 Million

Jill Hertzberg, who shares the listing with Jill Eber of the Jills Zeder Group at Coldwell Banker Realty, said the six-bedroom home was completed in 1996 with the help of Italian artisans who were flown in for the project. Its Mediterranean-style exterior is covered in ivy, which wraps around stone pillars and a set of keystone arches on the back patio.

The property also includes an entry courtyard with a fountain, a wood-paneled library and office with coffered ceilings, a gym, a formal dining room, an outdoor infinity pool, a Jacuzzi and a fire pit.

Ms. Hertzberg and Ms. Eber declined to comment on matters pertaining to the seller; property records show Mr. Pérez bought the Coral Gables site in 1994 for $1.45 million. Mr. Pérez is CEO of the Related Group, a major real-estate development company in the Miami area. (It is unrelated to New York-based Related Cos.) Mr. Pérez declined to comment.

Ms. Hertzberg said that Coconut Grove has seen a major resurgence in high-end real estate activity over the past two years, much like nearby Palm Beach and Miami Beach. Much of the activity in South Florida has been driven by wealthy Wall Streeters buying up properties amid the pandemic, The Wall Street Journal has reported. “It’s become explosive,” Ms. Hertzberg said.

Records show Mr. Pérez owns other properties in Miami, including a penthouse at the high-end condominium One Ocean, which he bought for $4.2 million when it was under construction, The Wall Street Journal reported. He listed that property $20 million in 2016 but later dropped the price by almost half after the Miami market stalled before the pandemic. It was taken off the market last year, Zillow shows.

Write to Katherine Clarke at [email protected]