Sebastian Bastian, CEO of Bahamian casino company Island Luck, has sold his luxe Miami mansion for $28.2 million.
Haveli Global informed earlier news.
Located on the Venetian Islands, the newly built three-story home is made up of five bedrooms and seven baths.
Spread over 13,400 square feet, Bastian bought the home in 2019 for $7.75 million before its renovations — meaning he stood at a considerable profit.
Developed by Todd Michael Glaser, the three-story home was completed in 2021 and boasts panoramic waterfront views.
Amenities include floor-to-ceiling glass sliding doors, a custom marble bar, a movie theater, a fire pit, a summer kitchen, and a 10-foot infinity-edge pool.
There are also unobstructed views of the Miami skyline.
Chad Carroll, Eli Fetelson and Corina Ivaniuk with The Carroll Group represented the sellers in the off-market deal, while Jaime Blatt with Inside Network brought on the buyer.
Home prices in Miami have skyrocketed in recent years.
South Florida prices are set to increase by 3.4% in 2023, according to Realtor.com’s latest 2023 forecast.
“The 2023 housing market may become a ‘nobody’s market,’ favoring neither buyers nor sellers,” wrote Daniel Hale, chief economist at Realtor.com.