Company linked to Canadian billionaire adds to waterfront Allison Island compound

A company linked to the family office of Canadian billionaire Lino Saputo paid $16.5 million for a waterfront teardown on Miami Beach’s Allison Island. 

It also appears that the same buyer owns the property next door, adding to the family office’s holdings. 

Property records show Lester Lipschutz sold the 8,911-square-foot, eight-bedroom and eight-and-a-half-bathroom house at 6640 Allison Road to Quadriam USA. The buyer’s LLC is managed by Danial Zeppetelli, president and COO of Montreal-based Quadriam Investments, the family office of Amelia and Lino Saputo. 

Saputo and his family’s net worth is about $4.5 billion, according to Forbes. His late father, Giuseppe Saputo, founded the family’s eponymous Montreal-based business, a major producer of cheese and other dairy products. The Saputos also have a stake in Major League Soccer’s Montreal Impact.

The house at 6640 Allison was marketed as a vacant lot. The house was built in 1992 on a nearly half-acre lot. It previously sold for $17.6 million in 2023, which means it sold for a loss. 

Douglas Elliman’s Devin Kay represented the seller. Julian Johnston of the Corcoran Group brought the buyer, according to the listing. They declined to comment. 

The mansion next door at 6650 Allison Road is owned by a company with a Canadian mailing address for Quadriam. Amelia Saputo has been linked to the property. 

The eight-bedroom, eight-bathroom and three half-bathroom home, built in 2018, spans 10,020 square feet. It sits on a 0.6-acre lot. The Canadian entity paid $15.2 million for the property in 2020. 

The two properties total just over an acre of waterfront land. A number of ultra-high-net-worth individuals have been buying properties next door or across the street from their waterfront homes, driven by the desire for more privacy, family planning and to increase their property values. 

Earlier this year, Karlton Companies sold the waterfront spec mansion at 6494 Allison Road for $31.5 million, marking a record for the Miami Beach island. The 8,024-square-foot house was completed last year. 

And in June, the elaborate waterfront home of French national Aurélie Bard, who has been accused of embezzling more than 100 million euros, sold out of receivership for $18.5 million. A company managed by attorney Charles Ratner bought the 6,924-square-foot, five-bedroom and six-bathroom house at 6580 Allison Road.