Daniel Vorcaro, former head and largest shareholder of Banco Master, is under investigation by Brazilian authorities after the central bank shut down the Rio de Janeiro-based institution earlier this month. Officials allege that Banco Master engaged in fraudulent activity by creating fake credit operations, which were then sold to Banco de Brasília SA as part of a multibillion-dollar scheme. Vorcaro was arrested on November 18 as part of the ongoing probe.
Vorcaro has ties to Miami real estate, with ownership linked to at least two condominiums and two homes purchased between 2023 and early 2025, according to sources and property records. He was known for his lavish lifestyle, including luxury watches, fine dining, private flights, and elaborate parties, as reported by Bloomberg.
His most significant acquisition in Miami is a 20,500-square-foot mansion located at 4445 and 4425 Sabal Palm Road in the Bay Point neighborhood. A Delaware LLC paid $85.2 million for this waterfront estate in January—a record for Bay Point—and an additional $6.9 million for a non-waterfront house across the street at 4430 Sabal Palm Road one month later. Construction is ongoing at the waterfront property; demolition permits were issued in August and new construction permits followed in September. The site features a 1.7-acre lot with 400 feet of bay frontage and two docks.
It remains unclear what will happen to these Miami properties—including a condo at Asia on Brickell Key and a penthouse at Missoni Baia in Edgewater—if Vorcaro is charged and convicted. As of Wednesday, he remained in custody.
Banco Master also had business interests in Miami; last year it leased 26,000 square feet at 830 Brickell for $190 per square foot—a record rate for Florida—but that office now stands empty.
In other residential news, Surfclub 11 LLC acquired a penthouse at Seaway North at The Surf Club (9149 Collins Avenue) for $86 million. The property was developed by Fort Partners under Nadim Ashi’s leadership.
On the commercial side, The Comras Company purchased retail properties along Lincoln Road and Lincoln Lane in Miami Beach from Morgan Stanley for $130.8 million.
Joel Weinshanker—who leads a national collectible association and manages Elvis Presley Enterprises—is selling his waterfront mansion at 360 South Hibiscus Drive in Miami Beach for $49.5 million. The home spans over 12,000 square feet with seven bedrooms and eight bathrooms; it was designed by Argent Design alongside architect Kobi Karp and is listed with Devin Kay of Douglas Elliman’s Exclusive Group.
West Palm Beach has experienced significant growth in luxury home prices over the past decade—rising by 187 percent according to Redfin—with median prices now just above $4 million.
