John Ruiz with 530 Arvida Parkway (John Ruiz, Luxhunters, Getty)
Demo lawyer and College of Miami booster John Ruiz marketed 1 of his Gables Estates properties for a discounted $30 million, or $15 million off the initial inquiring selling price.
Data show Ruiz’s 530 Arvida Holdings LLC marketed the 8-bed room, 13,200-square-foot waterfront mansion at 530 Arvida Parkway to JPB Assets Holdings, a Delaware entity. The buyer is a billionaire from inside Gables Estates, according to sources who declined to title them.
The 1-acre Neoclassical-style estate strike the current market in March for $45 million, which means it sold at a 33 p.c price cut. It most a short while ago was inquiring $39.5 million. Price tag cuts, or “improvements,” as many brokers explain them, are turning out to be additional typical amid the market place slowdown.
Diana Gutierrez with Mocca Realty represented the seller, although Magnus Jennemyr with Engel & Völkers brought the purchaser. Gutierrez did not instantly answer to a ask for for remark, and Jennemyr declined to comment on the consumer.
Inspite of the price reduction, Ruiz marketed the mansion for a lot more than he paid. He obtained the property from aviation areas enterprise operator Randy Fiorenza and his wife, Sandra, in September 2021 for $25 million.
The house was produced in 2012 and contains 200 toes on the water, a 140-foot dock, a 600-bottle wine cellar, a two-bedroom team quarters, chef’s kitchen area and more than 4,000 square toes of included terraces, according to the listing. It was built by Raymond Pacheco.
Jennemyr explained that the household marketed with tenants in area who are envisioned to move out by mid-calendar year. He said he confirmed the customer residences across South Florida, but finished up negotiating with the seller of the Gables Estates mansion right up until achieving the ultimate sale rate.
Ruiz owns Coral Gables-primarily based MSP Recovery and MSP Recovery Law Agency, which focus on recovering Medicare and Medicaid wellness treatment payments that should really have been coated by other parties. MSP Recovery merged with Lionheart Acquisition Corp., a unique purpose acquisition business owned by developer Ophir Sternberg, in 2021 and afterwards done a reverse merger.
Ruiz has been in the information over the earlier calendar year for his unsolicited proposal to develop a stadium for the College of Miami Hurricanes soccer staff at Miami-Dade County’s Tropical Park. The proposal has garnered substantial opposition from critics who are opposed to the county selling park land.
In Oct, Ruiz paid $22 million for the waterfront property at 550 Arvida Parkway, which is up coming doorway to 530 Arvida Parkway. A yr before, he offered the teardown at 80 Leucadendra Generate, also in Gables Estates, for $13.8 million.
And three several years in the past, Ruiz paid out $49 million — at the time the second-best one-relatives home sale in Miami-Dade County — for what was then Leon Medical Centers founder Benjamin Leon Jr.’s tropical resort-design mansion at 620 and 630 Arvida Parkway. (Leon also bought 550 Arvida Parkway to Ruiz.)
