Ari Rubenstein, the founder of financial services firm GTS, dropped $15 million on a waterfront Palm Island house in Miami Beach.
Records show Rubenstein and his wife, Zaily Rubenstein, bought the house at 112 Palm Avenue from PL Holdings, a Puerto Rican company managed by George Burguillos, a shipping executive.
The Rubensteins financed the off-market purchase with an $8.3 million mortgage from City National Bank of Florida.
Ari Rubenstein founded New York City-based GTS in 2006, according to the firm’s website. He is also the founder of ClearList, an alternative to a stock exchange for private companies. His first wife, with whom he shares three children, is Atoosa Rubenstein, the former editor-in-chief of Seventeen magazine.
Burguillos, who owns the shipping company Pack & Send Cargo, bought the Palm Avenue house for $8.6 million in 2015, according to property records. The 5,200-square-foot home was built on 0.7 waterfront acres in 1958, and has seven bedrooms, six bathrooms, three half-bathrooms and a pool, records show.
It marks the latest pricey sale on Palm Island this year. The island has emerged as a magnet for ultra-luxury buyers seeking waterfront in the competitive Miami Beach market. In March, gaming mogul Richard Skelhorn dropped a record $45 million for the waterfront mansion at 40 Palm Avenue, making it the most expensive home ever sold on the island. Skelhorn, the founder of blockchain-based digital casino MetaWin, posted to social media about the purchase, saying, “It was 1 a.m. in Dubai, had a few beers when I made the offer.”
Last year, boxing legend Floyd Mayweather Jr., who has embarked on a second career as a real estate investor, sold his waterfront Palm Island mansion for $22 million.
On adjacent Hibiscus Island, Wade Davis, the former CEO of Univision, sold his waterfront mansion for $31.8 million in July.
