Silicon Valley enterprise capitalist Shervin Pishevar offered his waterfront Miami Beach front estate for $21.2 million, a steep price reduction from the $50 million he was inquiring for it two several years in the past.
Information display Pishevar’s Sofreh Fund sold the mansion at 4647 Pine Tree Drive to a Delaware entity named for the tackle. The correct consumer is concealed.
Jill Eber and Jill Hertzberg of the Jills Zeder Group at Coldwell Banker Realty had the listing, and Ada Sasson of Cervera Serious Estate introduced the consumer.
Pishevar is a venture capitalist with a star-studded track history of investments. He is a former handling director of Menlo Ventures in California’s Bay Spot. He still left in 2013 to launch his own fund, Sherpa Funds. His roster of early investments involves Uber, Airbnb, Slack, Lyft, Robinhood, Snapchat, Warby Parker, Tumblr, Poshmark, Lease the Runway, Quip, Opendoor, TaskRabbit and the weed delivery application Eaze, in accordance to printed reviews.
He also co-established Hyperloop A single, a transportation startup that promised to move individuals and cargo in airless tubes at airplane speeds, primarily based on Elon Musk’s 2013 white paper theorizing a method of transit that could get individuals from San Francisco to Los Angeles in 30 minutes. The enterprise shuttered in December, in accordance to printed studies.
Pishevar acquired the waterfront Miami Seashore mansion for $17 million in 2018, property information exhibit. Constructed in 2013 on 1 acre, the 12,800-sq.-foot home has 9 bedrooms, 10 loos, three 50 percent-loos, a pool and a 1-bedroom visitor home. In 2021, he tapped developer Keith Menin to renovate the 12,800 sf mansion, and listed it for $35 million. He pulled it from the market and relisted in 2022 for $50 million, Real estate agent.com exhibits. Considering that December of that yr, the asking selling price has fluctuated concerning $26 million and $35 million, eventually closing at the discounted rate of $21.2 million. The listing shows the renovations in the major home continue being incomplete.
Pishevar was part of a wave of big name tech buyers who bought Miami Seaside mansions in the late 2010s, together with his occasional collaborator, “PayPal Mafia” member and undertaking capitalist David Sacks. Before this thirty day period, Sacks was linked to the $22.5 million sale of a Venetian Islands house in Miami Seaside. One more “PayPal mafioso,” Keith Rabois, purchased a waterfront Venetian Islands mansion for $28.9 million in 2020. Jim Goetz, the well known WhatsApp investor, acquired adjacent Venetian Islands properties for $29.6 million in 2017 and 2019.
Billionaire PayPal and Palantir co-founder Peter Thiel bought a pair of Venetian Islands properties for $18 million in 2018, and not too long ago gained layout approval for a new two-tale residence on his estate.
Also on Pine Tree Drive, billionaire Teddy Sagi is in agreement to invest in a waterfront teardown for $24 million. The Israeli mogul, who has invested a lot more than $50 million in South Florida serious estate developments, strategies to make himself a property on the 1.4 acre assets at 4521 Pine Tree Push.
