Billionaire Jorge Mas has sold his Coral Gables mansion for $32 million. The property, located at 6312 Riviera Drive, was owned by a trust linked to Mas and his wife. The buyer is a land trust managed by attorney Richard Barbara, who serves as in-house counsel at the Barreto Group and CFO of Coral Gables Title + Escrow.
The residence is a two-story waterfront home with six bedrooms and six bathrooms, spanning 13,500 square feet on a 1.6-acre lot along the Coral Gables Waterway. Public records indicate that Mas’s trust acquired the property in 2021 for $19.4 million. Before that, it changed hands for $14.9 million in 2020.
Mas is known for keeping his residential property ownership private. Earlier this month, he reportedly sold a 7.3-acre residential lot off Douglas Road in Coconut Grove to an undisclosed buyer through an off-market deal that has not yet been recorded with Miami-Dade County authorities. Sources indicated that Mas purchased the waterfront lot earlier this year and quickly resold it by acquiring the LLC that held ownership.
The luxury housing market in Coral Gables continues to see increased activity. Recently, Richard Fain, former chairman and CEO of Royal Caribbean Group, signed a contract to sell his waterfront estate in Gables Estates with an asking price of $37 million.
Jorge Mas co-founded MasTec, a major construction and engineering firm. He also manages Inter Miami CF, the Major League Soccer team co-owned by David Beckham. Inter Miami is currently developing a $1 billion mixed-use stadium complex near Miami International Airport; construction has started on this project.
Earlier this year, the partnership behind Inter Miami’s stadium development secured financing for the project with a $450 million loan from JPMorgan Chase.
