Former Miami Mayor Francis Suarez and his wife, Gloria, upgraded to a new home just days after he exited public office.
The couple paid $7.4 million for the house just north of Sunset Drive in unincorporated Miami-Dade County, property records show. An LLC led by Servito Morales sold the 6,700-square-foot home, which has six bedrooms and seven and a half bathrooms.
Suarez’s net worth soared during his time as mayor, from just over $400,000 in 2018 to more than $5 million today, according to financial disclosure records obtained by the Miami New Times. That net worth included his home in Coconut Grove, investment properties, a $235,000 boat and nearly $600,000 in cryptocurrency. But it did not include his latest home purchase, which closed on Dec. 22.
The sale marks one of the priciest non-waterfront home sales in the area.
The real estate industry rallied around Suarez during his eight-year tenure as mayor. Suarez, an attorney, helped push through major projects, including the Miami Freedom Park mixed-use stadium development. He was also considered Miami’s “tech mayor” who helped woo major Silicon Valley investors to the Magic City.
Among his side gigs, Suarez was a private consultant for former developer Rishi Kapoor, who was sued by the Securities and Exchange Commission for allegedly defrauding more than 50 investors who contributed $93 million for his real estate projects.
Eileen Higgins was sworn in as mayor days before Suarez’s home purchase closed, following a runoff election earlier this month against former city manager Emilio Gonzalez. Higgins also garnered major support from the real estate industry.
Suarez’s new home was completed in 2025. It sits on nearly an acre of land with an outdoor grill, fireplace and pool, according to the listing. The property hit the market last summer for just under $10 million.
Michael Martinez of One Sotheby’s International Realty represented the seller. Jordan Karp of Jordan Karp LLC represented the buyers.
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