Pacific Star Capital developer Aria Mehrabi sold his Fisher Island penthouse for $11 million, property records show.
Mehrabi’s Magi Houston LLC sold the seven-bedroom, 6,820-square-foot unit to OIF Corp., led by Mexican banker Salvador Onate Barron. Onate Barron is a director at Banco del Bajío, a Mexican bank that also does business as BanBajío.
Mehrabi sold the condo at Oceanside Fisher Island for $1,613 per square foot. It last sold in 2015 for $9 million, or $1,320 per square foot.
The unit, with eight bathrooms, one half-bathroom, was renovated in 2018. It features a 400-bottle wine cellar, maid’s quarters with a separate entrance, and a master suite with a marble bath and glass rain shower, according to the listing.
Cyril Matz of Douglas Elliman represented the seller, and Karla Abaunza of Luxury Living Realty brought the buyer, according to Realtor.com.
The penthouse has been on and off the market for four years, most recently asking $12.7 million. Initially, it was listed for nearly $18 million in March 2016.
Mehrabi is co-founder and CEO of Santa Monica, California-based Pacific Star Capital, a real estate development firm with projects in South Florida. The company has an office in Miami Beach, according to its website.
In August, an heir to George Wackenhut, founder of his eponymous security firm, paid $15 million for a condo at Bayview Fisher Island. Two months earlier, Eastdil Secured founder and Chairman Benjamin Lambert sold his Fisher Island condo for $4.85 million to Joe Dimartini, CEO of Zelis Payments. Matz was involved in both deals.
The post Developer Aria Mehrabi sells Fisher Island penthouse to Mexican banker appeared first on The Real Deal Miami.